Financial crisis

Riksbank's Ingves justifies openness

Stefan Ingves, the governor of the Riksbank, said on Monday that the central bank chose to adopt a transparent monetary policy framework in order to become a more democratic and efficient institution.

BoE bulletin reviews UK reaction to turmoil

The Bank's quarterly bulletin for the third quarter covers developments in sterling financial markets from June to September, which marked the beginning of the current bout of stress in the global financial markets.

Bank of Haiti - Annual Report 2005

Despite social and political turmoil, Haiti's economy grew by 1.8% over the 2004/05 financial year. Private sector investment increased by 5.6% in 2005, after contracting by about 14% the previous year.

Launch the lifeboats? Not likely!

The closest parallel to the rescue of Northern Rock is the secondary banking crisis which erupted at the end of 1973 and which brought down a whole string of so-called "secondary" banks. That financial crisis, like this one, was preceded by a long period…

King refuses to aid markets

Mervyn King, the governor of the Bank of England, said on Wednesday that he believed providing additional liquidity against a wider range of collateral and over longer periods "sows the seeds of a future financial crisis".

Turmoil prompts supervision recommendations

New rules for conduits, special purpose vehicles (SPVs) and rating agencies must be introduced to stop another subprime crisis, according to several shadow financial regulatory committees. The Basel II framework must also be reassessed because of its…

Gulf may escape contagion

Rasheed Al Maraj, the governor of the Central Bank of Bahrain, said Gulf markets are unlikely to see a major fallout from the slump in USsubprime mortgages as most local companies have their core businesses in the area.

BoE holds rates, aids markets

The Bank of England voted on Thursday to keep the base rate at 5.75% after offering the previous day to inject extra funds into the money markets next week if liquidity problems persist.

Useful statement from Jean-Claude Trichet

CentralbankNews.com is pleased to see the ECB making constructive use of its website in the current crisis. On Tuesday August 14 its home page featured prominently a statement by Jean-Claude Trichet, the president, about the current financial market…

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