Financial crisis
Euro area wage growth appears sustainable – ECB bulletin
ECB wage analysis shows increases are no longer being driven primarily by ‘wage drift’
Diverging regulatory policies could spell trouble for banks, report says
Deloitte says there are obvious signs of regulatory divergence as regulators and supervise focus on national policies
China remains “committed” to globalisation, says Zhou Xiaochuan
Debt sustainability to be discussed at second Belt and Road Initiative summit next year; WTO deal still needed
Releasing liquidity can encourage banks’ ‘gambling’, ECB paper argues
ECB paper analyses Portuguese authorities’ response to banking crisis
RBNZ proposes to ‘almost double’ capital requirements
Central bank advocates shareholders bear greater risk to incentivise good management
Five central banks and supervisors join environmental group
Network for Greening the Financial System aims to help meet Paris agreement goals
Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner
An important overview of the current state of thinking about macro-prudential policy, but uncertainties remain about the current allocation of financial stability responsibilities
Fed paper examines impact of liquidity rules on dealers
Dealers changed behaviour in response to reforms, but de-risking was already under way, paper finds
Kohn ‘deeply’ worried Fed might not have support to fight next crisis
Former Fed official discusses political implications of financial crisis after documentary screening
ECB secondary bond purchases are legal, European Court of Justice says
European Union’s highest court rejects German activists’ claim that PSPP breached constitution
Carstens warns world is not fully prepared for fresh crisis
IMF does not have the resources to act as global lender of last resort, says BIS chief
Falling offshore borrowing has helped shield Australia – RBA official
RBA’s monetary policy has not followed Fed’s normalisation
Lack of monetary autonomy ‘central’ to eurozone debt crisis – researchers say
Spain would have been ‘immune’ to rollover debt crisis outside eurozone – Minneapolis Fed paper
Podcast: How to fight the next crisis
In the last of the series, Yale’s Andrew Metrick warns we may be less prepared for crisis-fighting now than we were before 2008
Riksbank’s Jansson says he favours higher inflation target
Swedish deputy governor reflects on monetary policy options to deal with next crisis
Podcast: Preventative measures
Many central banks currently lack a key power that could help them deal with crises, argues Yale University’s Andrew Metrick
Basel III may be second-best outcome, admits Coen
Basel Committee secretary-general says framework could be strengthened; John Vickers renews calls for tougher capital standards
Italian crisis and trade tensions are raising eurozone risk – ECB
Emerging market stress and fears of protectionism may drag down global growth, ECB says
UK banks’ holdings of leveraged loans ‘very small’, BoE says
Global leveraged loan market growing rapidly but lending standards falling, says Bank of England
Fed’s emergency lending facilities eased funding pressures, researchers find
Facilities likely avoided severe sale of assets at fire-sale prices, authors say
French banking crisis of 1930s far worse than previously thought – BdF paper
Central bank policies worsened crisis, Banque de France paper says
Podcast: The global regulatory landscape
Capital rules have made the core banking system safer, but other parts of the system may still be at risk, says Andrew Metrick
FSB calls for action as regulatory deadlines pass
Mark Carney urges G20 to stay disciplined as global growth begins to fade
Podcast: More women, greater stability?
Recent research from the International Monetary Fund reveals the inclusion of women in supervisory roles has a significant impact on financial stability