Financial crisis
Interview: Howard Davies
The founding chairman of the UK Financial Services Authority discusses Britain’s new regulatory architecture, weaknesses in the European Central Bank’s voting arrangements, and how inflation targets need to change
Cyprus’s Orphanides calls for more attention to macroprudential regulation
Central Bank of Cyprus study into lessons from crisis says greater need for both micro and macroprudential regulation
Turkey’s Yilmaz keen on second tool for central banks
Governor of Turkey’s central bank Durmus Yilmaz argues that a dual mandate is conceivable if additional tools are available
Fed May 2010 Bulletin: 120 US commercial banks failed in 2009
Federal Reserve report into balance sheet developments at US commercial banks shows continued stress in banking sector
Spanish CDS spread jumps as four banks announce merger
Four regional savings banks announce merger after one ailing lender was seized and placed into administration by the central bank on Saturday; move plays into investor fear that banking sector is unsteady
ECB's Trichet: ESRB will deliver macroprudential oversight
European Central Bank president Jean-Claude Trichet outlines role of European Systemic Risk Board in supervisory framework
SF Fed: pre-crisis regulation of financial markets
A San Francisco Federal Reserve study looks at the role of government during the financial crisis and calls for a greater state role in regulation
Riksbank’s Persson: don’t shoot CDS ‘messenger’
The Swedish central bank uses CDS spreads as an indicator of financial stability
Eurozone crisis weighs on Swiss exit plans: SNB's Jordan
Swiss National Bank deputy head Thomas Jordan says normalisation of monetary policy hampered by eurozone debt crisis
IMF’s Lipsky: IMF should be at core of global financial safety net
IMF first deputy director John Lipsky says Fund is best placed to introduce global safety net
RBA’s Edey: price competitiveness sparked by special rates on term deposits
Reserve Bank of Australia assistant governor says demand for liquid paper has led to special rates for term deposits
RBA’s Ellis: build more houses
Reserve Bank of Australia financial stability head Luci Ellis says more housing needed to offset rapid rise in house prices
Ireland’s Honohan says bank and government partnership key
Central Bank of Ireland governor Patrick Honohan says co-operation between banks and state is essential to credit markets
Philly Fed: trade declines in US recession normal
Philadelphia Federal Reserve study shows that inventories stock created a buffer following declines in post-crisis trade
Bini Smaghi defends ECB policy to dump rating agencies
ECB board member Lorenzo Bini Smaghi attacks rating agencies for role in Greek debt crisis
Yilmaz confident Turkey can keep up with other emerging markets
Central Bank of Turkey governor Durmas Yilmaz says country’s lack of toxic assets has paid off during the recovery
Philly Fed blames subprime crisis on bankruptcy reform
Philadelphia Federal Reserve study shows reform to homeowner bankruptcy rules caused default rates to rise during subprime mortgage crisis
When experts fail: a response and reply
Michael Taylor comments on the argument set out by Frank Vibert in the February edition of Central Banking journal, to which Vibert in turn replies
Official-sector balance sheets after the crisis
In the third of Central Banking’s web seminar series, Daniel Gros, Ken Wattret and Tim Young discussed how official sector balance sheets have changed, the new challenges policymakers face and how to overcome them
Ten issues for regulators to consider
René Smits devises ten key issues that European financial legislators must consider when constructing the post-crisis regulatory framework
Five lessons for dealing with EU bank failures
Hugo Banziger spent two weekends trying to save a German bank from failure. Here he identifies how and where European Union rules must change so that resolutions are faster and fairer
Federal Reserve policy as shown by its history
Much of the independence won by Paul Volcker has been surrendered in the recent crisis, says Allan H. Meltzer
Interview: Peter Praet
Fortis’s collapse all too well illustrated the difficulties in saving cross-border European banks. But the ideal solution, a European crisis resolution authority, remains a distant dream. However, there is an existing, yet perhaps unusual, candidate from…