Financial crisis
Turbulence hits Norwegian banks
Norwegian banks face tougher conditions as a result of the considerable turbulence in global money and credit markets, the country's central bank noted in its latest Financial Stability Review.
Restrict money issuance to foster stability
Pouring central bank money into Latin American financial systems in times of uncertainty fails to promote economic stability, research published by the International Monetary Fund states.
Getting back on track
Jacques de Larosière analyses the problems with the originate-and-distribute model and what regulatory response is required
Early lessons from the crunch
A report on of the current debates around the credit crisis and what it could mean for the future of central banking. Edited by Robert Pringle
Profile: Randall Kroszner
Malan Rietveld talks to the Fed’s leading man on regulation and asks him about the links between his academic work and policymaking
Interview: Robert Shiller
Robert Shiller, one of the leading authorities on the American housing market and the structured products built around it, talks to Malan Rietveld about the causes of the current crisis and the policy response
Fed should have spoken out on housing bubble
The Federal Reserve should have done more to alert American consumers to the bubble in the real estate market, Robert Shiller, an economics professor at Yale, said in an exclusive interview with Central Banking, published on Thursday.
Canadian banks want action on collateral reform
Canada's biggest banks have urged Jim Flaherty, the country's finance minister, to quickly grant the central bank greater powers to set collateral requirements, local media reports have said.
Eurozone banks toughen lending standards
Borrowing across the eurozone became harder for both the region's businesses and consumers in the three months to March, the latest European Central Bank lending survey reveals.
BoE: the worst is over
Financial conditions are set to improve in the coming months as investors recognise that prices in credit markets now overestimate risk, the Bank of England said on Thursday.
Denmark values euro's stabilising powers
The existence of the euro has been an advantage to the Danish economy during the current financial crisis, said Nils Bernstein, the governor of the National Bank of Denmark.
Swiss join calls for bank pay reform
Jean-Pierre Roth, chairman of the governing board of the Swiss National Bank, has urged a complete rethink of commercial banks' corporate governance and pay schedules in the wake of the credit crisis and recent trading scandals.
Europe set for slowdown: IMF
The International Monetary Fund (IMF) expects the oft-repeated maxim that "if the US economy sneezes, the rest of the world catches a cold" will hold as far as Europe is concerned.
Term Auction Facility has done little to help
The Term Auction Facility operation, introduced in December to temper money-market tensions, has failed to narrow interbank spreads, a research paper co-authored by John Taylor, the creator of the influential Taylor rule on monetary policy, finds.
G7 backs FSF recommendations
Central bank governors and finance ministers from seven of the world's leading economies have welcomed the Financial Stability Forum's (FSF) regulatory response to the credit crunch and are set to implement several of its recommendations by the end of…
Crisis worst shock since Great Depression: IMF
The International Monetary Fund (IMF) warned that the US subprime fallout has precipitated the largest financial crisis since the Great Depression and that there is a 25% chance that it will cause a full-blown global recession.
Bond spreads determined by turmoil
At the times of crisis global financial market conditions are the fundamental drivers of changes in bond spreads, research published by the International Monetary Fund finds.
Greenspan hits back
Alan Greenspan, a former chairman of the Federal Reserve, has said that the blame for the subprime crisis lies with the investment community rather than himself, as has often been argued.
FSF to suggest radical solutions to turmoil
The Financial Stability Forum (FSF) is set to propose a series of unorthodox measures for fighting the credit crunch, say media reports.
Financial markets in Japan
This new report from the Bank of Japan looks at how financial markets in the country coped with the market turmoil triggered by the subprime woes in the second half of 2007.
Turmoil set to impact Swiss exporters: SNB's Roth
The financial market turbulence is unlikely to leave Switzerland unscathed, said Jean-Pierre Roth, the chairman of the governing board of the Swiss National Bank.
Fed's Hoenig notes monetary policy's limits
Thomas Hoenig, the president of the Kansas City Federal Reserve, said he has been struck by the heavy burden placed on monetary policy to cope with the current crisis and its potential spillover effects.
Bank Indonesia investigation officer arrested
Indonesian anti-corruption officials have arrested a prosecutor investigating allegations of misuse of central bank funds on suspicion of bribery.