Financial crisis
Svensson: Riksbank needs to be more forceful
Riksbank deputy Lars Svensson explains Sweden’s response to crisis and draws on lessons for future
Merkel and central bankers clash over Greek fix
Bundesbank shows reluctance to back Merkel; ECB president Trichet pushes for European rescue fund to aid beleaguered eurozone members
Bernanke: too-big-to-fail problem “unconscionable”
Fed chairman Ben Bernanke calls for a revision of regulation on firms, which are “too big to fail”
Fullani: reassures parliament on steady recovery
Bank of Albania governor Ardian Fullani reassures lawmakers of continued growth following IMF performance review
Top-level Swiss committee to fix "too big to fail"
Liquidity and "too big to fail" will dominate agenda for Steering Committee bridging central bank and regulator’s boards, says FINMA’s Zuberbühler
SNB, Finma set up stability steering group
Central bank and regulator intensify their collaboration on financial stability
ECB’s Stark: global economy is heading for lost decade
Jürgen Stark says failure to learn from the crisis would result in anaemic global growth for the next ten years
Stimulus is not the bulk of debt: Fund’s Lipsky
International Money Fund first deputy John Lipsky says underlying increases in spending and lower taxes from financial sector underpin the debt burden, rather than stimulus
Fed’s Fisher: break up the big banks
Dallas Federal Reserve’s president gets tough on those deemed too big to fail
MPC’s Miles leaps to the defence of QE
Rate-setting committee’s external member David Miles says the Bank’s asset purchase programme has shored up the private sector despite focus on gilt purchases
Brazil jacks reserve ratio up by 200 bps
Central Bank of Brazil lifts reserve requirement ratio back to pre-crisis level, move is expected to withdraw more than 70% of liquidity provided during crisis
Towards a new framework for monetary policy
Jacques de Larosière argues that monetary policy played a major role in the run-up to the financial crisis and that a new operational framework is needed
Bank of Uganda – Financial Stability Report
Ugandan central bank publishes inaugural report detailing the health of the financial sector and documenting policy moves taken to combat the crisis
When experts fail
Frank Vibert explores the lessons of the crisis for regulators. The key is not to re-politicise markets but to improve the disciplines that regulators follow
When to exit?
In Central Banking’s second webinar, sponsored by BNP Paribas Securities Services, Charles Goodhart, Lucrezia Reichlin, Paul Mortimer-Lee and Gabriel Stein discussed when central banks should raise rates
The fight for the Fed
Malan Rietveld looks back at Ben Bernanke’s bruising confirmation hearings
Has Bernanke broken his promise to Friedman?
The monetary policies of the Federal Reserve have helped to avoid a second Great Depression, but Bernanke’s emphasis on credit has been misguided, says Tim Congdon
Audit the Federal Reserve?
An independent institute for monetary statistics is needed in the United States, says William Barnett. Expanded congressional audit would be a second best alternative.