Financial crisis
IMF: Fiscal health helps weather negative externalities
Fund study shows that fiscal austerity can weaken effects of negative demand shocks on growth in low income countries
Banks upped exposure to troubled eurozone states in first quarter: BIS
Bank for International Settlements says first quarter figures show exposure to Portugal, Greece and Spain grew, in spite of default worries
Fuld and Fed’s Baxter at odds over Lehman failure
Ex-Lehman Brothers’ chief Dick Fuld blames Federal Reserve for failure of investment bank; New York Fed general counsel Thomas Baxter says central bank could not have provided liquidity lifeline
Banks’ role to be reduced in future financial system, IMF says
IMF position note says non-bank financial firms will see roles expand; IMF must refine its methods and broaden its view to keep up with changes
Riksbank's Öberg calls for careful policy normalisation
Riksbank first deputy governor Svante Öberg points to risk in returning benchmark rate to pre-crisis levels
Fed looks to take Bloomberg battle to Supreme Court
Federal Reserve asks appeals court for stay on ruling that will force it to reveal emergency lending details; central bank considering appeal to country’s highest court as last resort
BoK’s Kim on upcoming G20 summit
Bank of Korea governor Kim Choong-soo hails country as model for the world
BoC: contingent capital must supplement counter-cyclical capital buffers
Bank of Canada study says contingent capital more effective in providing liquidity to banks in a crisis
Fed loses appeal to protect names of bailed out banks
Federal Reserve appeal to withhold names and details of banks it bailed out in crisis dealt a further blow; central bank must now petition Supreme Court
Australia’s Battellino stresses importance of floating exchange rate
Reserve Bank of Australia deputy governor Ric Battellino says floating exchange rate regime helped dissipate external shocks to economy
National Bank of the Republic of Belarus – Annual Report (2009)
National Bank of the Republic of Belarus’ 2009 Annual Report shows worsening terms of trade
HKMA: Australia’s investment-led deficit well balanced
Hong Kong Monetary Authority study shows that current account deficits are not always a bad thing
Nordic and Baltic regions strike financial stability deal
Eight Nordic and Baltic countries sign Memorandum of Understanding on cross-border financial stability and crisis management
Too big to fail, too big to reform
Robert Pringle and Hugh Sandeman ask is this the damning verdict of the latest batch of books on the financial crisis?
Why attitudes to gold have changed
Jill Leyland investigates why the events of recent years, in particular the financial crisis, have tipped the balance away from net official sector selling towards net buying of gold.
Fed toughens rules on consumer protection
Federal Reserve announces measures to protect mortgage borrowers from deceptive practices
Rethinking reserve management
The crisis demands a rethink on both the size and composition of central banks’ reserves, argues Ludek Niedermayer.
How Ireland is reforming its central bank
A change of leadership offers Ireland’s central bank an opportunity to assert its independence from the country’s much maligned political and banking elite. It is doing much to grasp it, Claire Jones finds.
Denmark’s Bernstein explains new investment income estimation method
National Bank of Denmark governor Nils Bernstein says new method will enhance analysis of balance of payment movements
‘Bail-in’ rather than bailout, says European markets group
Association for Financial Markets in Europe proposes regulator-enforced version of contingent capital to replace state-funded bailouts; proposals still troublesome, Goodhart says
Reserves growth does not boost lending: Fed study
Federal Reserve study says notion that money multiplier can improve bank lending is misguided
Norway’s wealth fund slumps to first loss in a year
Government Pension Fund–Global posts $25 billion loss for first quarter; fund’s equity portfolio takes a beating, led by BP shares
BIS’s Hannoun flags dangers of exceptional measures
Bank for International Settlements’ Hannoun calls on central banks to shrink balance sheets