Financial crisis
New spokesman for the New York Fed
Peter Bakstansky has been the spokesman for the New York Fed for so long - 30 years, to be precise - that his impending retirement will be hard to get accustomed to, at least for any journalist.
Ex-Thai central bank chief ordered to repay $4.6bn
The former governor of Thailand's central bank, Rerngchai Marakanond, was ordered on Tuesday 2 June to pay back the Bt186bn (US$4.57bn) spent in the futile defence of the currency on the eve of the 1997 Asian financial crisis.
Managing financial research in central banks
All central banks need to motivate and retain top-notch researchers. Philipp Hartmann and Myron Kwast describe how the ECB and the Federal Reserve do it.
Lookouts for financial instability
Can a central bank’s dealers help with market surveillance? Tim Young and John Nugée point to some of the difficulties and possible remedies.
Who holds the wealth of nations?
The growth of sovereign wealth funds, often managed outside central banks, has received little attention or analysis. Yet it is a major development in international finance, with implications for central banks writes Andrew Rozanov.
Trapped by the international dollar standard
The three following articles raise troubling questions about the world economy. Here, Ronald McKinnon argues that America’s addiction to deficits distorts the world system.
Politicians’ itch to interfere
Central Banking takes a look at some recent skirmishes between central bankers and politicians. A report by economics correspondent Paul Brione.
Lessons learned from outsourcing at Norges Bank
Can a central bank outsource IT services that are systemically important? Semming Austin recounts the approach taken by Norges Bank.
IT systems in smaller central banks
Central bank IT cannot stand still, but limited resources mean smaller institutions must plan carefully, says Terry Beadle.
Central banking on the move
Michael Yorke and Jeff Klein describe how advances in mobile computing can meet the needs of today’s central banks.
Effective IT with limited resources
IT departments in small central banks face particular challenges in providing services. Jennifer Greaves sets out how they can be met.
Managing IT as a business
How can a central bank get the best out of its information technology? Bruce Summers explains.
A new approach to liquidity management
Management of its foreign exchange exposure by a multinational firm provides a template for managing official reserve assets, argues Robert Z. Aliber.
Interview: Ronald McKinnon
Much of the world is on a de facto dollar standard. Ronald McKinnon of Stanford University explains how it works and why policymakers need to understand it better.
Ronald Reagan: champion of monetarism
President Reagan should get more credit for ending the Great Inflation, argues John Tatom.
ECB Memoranda of Understanding
The ECB issued a news release on Wednesday 21 July announcing the adherence of the central banks and banking supervisors of the New Member States to the Memoranda of Understanding on High Level Principles of Co-operation in Crisis Management Situations…
Philippine cb against declaring fiscal crisis
The Bangko Sentral ng Pilipinas (BSP) on Monday 5 July oposed the proposal to formally declare a fiscal crisis, warning that the ensuing confusion might precipitate an actual fiscal crisis that the government is trying to avoid.
The Norwegian Banking Crisis
It has been ten years since the Norwegian banking crisis ended. This publication considers the crisis in retrospect and provides a comprehensive, but reasonably compact description in English of the Norwegian banking crisis. It contains six chapters and…
IMF reports no exact cause to rand collapse
IMF economists have concluded that no clear answer existed for the rapid depreciation of the South African rand between September and December of 2001.
IMF admits mistakes in handling Asian crisis
The assistant director of the IMF Office for Asia and the Pacific, Charles Adams, has acknowledged that the Fund made mistakes during the Asian Crisis but not everyone agrees what the mistakes are, according to AFP. Some lending conditions were not…