Financial crisis
Asia must be “attuned” to prevailing shocks, says Strauss-Kahn
IMF managing director Dominique Strauss-Kahn says Asia’s quick rebound from recession should be followed by policies to counter risk of overheating economies
Trichet: Reforms must keep an eye on financial markets
ECB president Jean-Claude Trichet outlines four main areas of reform in the financial sector where there is further room for improvements
NY Fed: Shadow banks should not be kept in the dark
New York Federal Reserve study says permanent access to funding facilities for shadow banks should be considered following credit market strains
Gold should form an essential part of central banks’ liquidity portfolio
The credit crisis has highlighted that in times of turmoil, gold is one of the few assets that remains liquid, says Natalie Dempster, director of government affairs at the World Gold Council
Differing sovereign debt haircuts to be included in EU stress tests: reports
Reports quote German banking officials as saying that extreme scenarios will apply steep haircuts to PIIGS sovereign debt, but none to bunds or French paper
Protests at Icelandic central bank on car loan rules
Several hundred demonstrators congregate around central bank in peaceful protest against delinking of car loans from foreign currency exchange rates; rule change could see up to 10% of Icelanders hit with higher repayments
BoE data shows May rise in lending levels
Bank of England data on lending shows moderate gains in amount of loans issued to individuals and households; lending still remains below pre-crisis levels
Greek debt crisis sparks widening of almost all global CDS spreads
Cost of protecting against a Greek default up 190% in three months to mid-June as CDS spreads widened for 93% of sovereign debt on back of sovereign debt crisis in Europe
ECB handled Greek crisis well: CentralBanking.com readers
CentralBanking.com poll shows more than 40% approval rating for European Central Bank’s handling of the Greek debt crisis
Interview: Sanusi Lamido Sanusi
The governor of the Central Bank of Nigeria discusses banking reform, the Volcker rule, and the role of lenders in society
Philly Fed: freedom of databases may improve market oversight
Philadelphia Federal Reserve study on macro-micro databases shows that had information been made readily available, the crisis may have been less pronounced
Russian FX regime change ties rates closer to Europe: Bank of Finland
Bank of Finland study shows Russian interest rates moved more in line with Europe than the United States, following overhaul of exchange rate basket
Demand and supply forces restriced credit: Bank of Italy
Bank of Italy study finds declines in demand and supply of credit dampened lending growth in Italian banks during financial crisis
Eurozone crisis threatens Canadian financial stability
Bank of Canada links deterioration of risks surrounding global imbalances and the growth outlook to single currency zone’s sovereign debt crisis
BIS: Crisis response lacks rigour compared to Nordic countries in 90s
Bank for International Settlements study into the recent financial crisis says policy response may slowdown recovery
Sovereign bonds lost safe haven status in crisis: Bundesbank
Bundesbank study on sovereign bond spreads finds marked change in perceived risk of holding government debt following the bailout of Bear Stearns
BIS’s Caruana warns macroprudential policies may have unintended consequences
Bank for International Settlements general manager Jaime Caruana says macroprudential policies alone do not guarantee protection from systemic risks
Cyprus's Orphanides: central banks in best position to supervise risks
Cypriot central bank governor Athanasios Orphanides says central banks are in best position to oversee macroprudential risks
Swiss banks return to profit: SNB
Swiss National Bank report finds banks in Switzerland recorded moderate profits last year following heavy losses in 2008
Ireland's Honohan outlines central bank's failures
Irish central bank governor Patrick Honohan cites failures in bank management for poor response to crisis in central bank review
CentralBanking.com panel: ECB’s response to Greek crisis too slow
Mike Williams, Paul Mortimer-Lee, and Phil Davis say the ECB should have moved more swiftly to tackle the fiscal problems in Greece
Spanish banks’ reliance on ECB hits record levels
Data published by Spain’s central bank shows the country’s banks exhibiting an increasing level of dependence on the eurosystem, officials dismiss talk of bailout
Markets unfazed by Moody’s Greek walloping
Bulk of European bourses gain despite rating agency’s four notch downgrade of Greek sovereign debt; analysts link calm to tardiness of downgrade and renewed risk appetite
Low savings widened Southern Europe's fiscal gap: IMF paper
Fund study finds lack of savings in Southern European countries caused large current account deficits to form in the run-up to the global financial crisis