Financial crisis
Israel's Fischer: banking system still strong
In contrast to the health of the global banking system, Israel's lenders remain strong, Stanley Fischer, the governor of the Bank of Israel, said.
Bernanke revisits idea of toxic asset purchases
Ben Bernanke, the chairman of the Federal Reserve, on Tuesday mooted several ways in which American authorities could remove toxic assets from banks' balance sheets. He also said that more capital injections and guarantees may be required to ensure…
Ex-MPC members offer solutions to crunch
A financial stability committee, a derivatives exchange and a pan-EU regulator were among the ideas suggested to stave off future credit crises by an influential group of British-based economists on Tuesday.
Banks and liquidity: a theoretical view
A model analysing the interbank market and liquidity crises indicates that banks need to be more liquid.
Eichengreen: ideology slowed response to crisis
Ideology delayed US officials in taking necessary steps after the credit crisis erupted, says Barry Eichengreen, a financial historian based at the University of California, Berkeley, in a new paper.
Denmark - Financial Stability Report
Denmark must implement a scheme of temporary capital injections to sound, well-managed banking institutions, says the latest Financial Stability Report from the National Bank of Denmark.
We need greater global cooperation: Thai governor
Tarisa Watanagase, the governor of the Bank of Thailand, has warned that combating the credit crisis necessitates a greater degree of international cooperation.
Gieve: we need new instruments
Sir John Gieve, the deputy governor of the Bank of England, has admitted that the Bank underestimated the scale of the credit crisis and said the turmoil has demonstrated the need to equip central banks with new policy tools.
India's Subbarao: fundamentals strong
The fundamentals of the Indian economy continue to be strong, said Duvvuri Subbarao, the governor of the Reserve Bank of India.
FSF Asia-Pacific statement notes strains
The fifth annual meeting of the Asia-Pacific group of the Basel-based Financial Stability Forum noted that although the region had been able to withstand the financial crisis to date a number of strains had begun to appear.
ECB's Bini Smaghi on the financial crisis
Blaming the current crisis on the United States might be tempting but would be a mistake, said Lorenzo Bini Smaghi, a member of the executive board of the European Central Bank (ECB).
Indian governor on reducing global imbalances
If easy, quick and unconditional international liquidity was provided during a crisis, then emerging economies may not need to insure themselves by foreign reserves accumulation, said Duvvuri Subbarao, the governor of the Reserve Bank of India.
Interview: Raghuram Rajan
Claire Jones spoke to the former chief economist at the International Monetary Fund about the policy response to the crisis, particularly the role of the Fund
Interview: Joseph Yam
In this interview the chief executive of the Hong Kong Monetary Authority discusses the global policy response to crisis, Hong Kong’s relationship with China and the reserve management in Asia. Malan Rietveld spoke to Joseph Yam
Interview: Masaaki Shirakawa
The governor of the Bank of Japan speaks to Robert Pringle about the lessons from Toyko’s fight against deflation to policymakers around the world today
A chronology of the crisis
A month-by-month account of the greatest banking crisis since the Great Depression
A banker's take on the year to come
The financial crisis is set to escalate in the New Year and it is difficult to see a way out, Matt King, a credit strategist at Citi, a bank, has said.
Central Bank of Kenya - Annual Report 2007/ 08
The Kenyan economy suffered major setbacks and inflationary pressures following the December 2007 election crisis, notes the latest Annual Report of the Central Bank of Kenya.
Turkey's Yilmaz in call for global LoLR
The most important lesson from the current financial turmoil is the need for a global lender of last resort, said Durmus Yilmaz, the governor of the Central Bank of Turkey.
Brazil's Meirelles: Bretton Woods needs a rethink
Both the International Monetary Fund (IMF) and the World Bank need to address their legitimacy as part of the policy debate on a Bretton Woods II, said Henrique Meirelles, the governor of the Central Bank of Brazil.
Turkey justifies November cut
The Central Bank of Turkey's rate-setting committee opted to cut rates earlier this month on signs inflation would fall more rapidly than expected, the minutes of the meeting reveal.