Macro-prudential policy
Bank of Canada research delves into monetary policy
Bank of Canada releases research paper which examines the interaction between monetary policy and macro-prudential policy
De Larosière fears another crippling credit crunch in Europe
New international banking regulations aimed at cleaning up the financial system could cause a crippling credit crunch in Europe, says Jacques de Larosière
HKMA’s Chan says fiscal cuts are essential for Europe
Hong Kong Monetary Authority chief executive Norman Chan says Europe must make deep fiscal cuts to regain market confidence. Talks about macro-prudential regulation, the Hong Kong dollar peg and the internationalisation of the renminbi
Macro-prudential powers are no panacea
Central banks will take on substantial new macro-prudential supervisory powers in the years ahead. But this is a dangerous experiment, and a step in the wrong direction
HKMA head Norman Chan on bank regulation and the renminbi
Chief executive tells Christopher Jeffery that central bankers need to be proactive in dealing with asset bubbles. He also explains Hong Kong’s role in the renminbi's internationalisation
New fault lines in financial regulation
Deleveraging could trigger another crippling credit crunch in Europe at a time when the recovery is still fragile. By Jacques de Larosière
Data: a core challenge for financial regulatory reform
Improving financial stability through the use of interconnected and predictive supervisory tools requires a rethink on data. By Constantin Gurdgiev and Keith Saxton
Robert Pringle’s Viewpoint: Central bank macro-prudential powers are no panacea
Central banks will take on substantial new macro-prudential supervisory powers in the years ahead. But this is a dangerous experiment, and a step in the wrong direction
Financial taxes can bolster macro-prudential policy, says IMF paper
Fund study shows counter-cyclical tools should be incorporated to enrich the broader macro-prudential policy framework in Korea
Macro-prudential policies address root of stability problems, says SNB’s Danthine
SNB governing board member Jean-Pierre Danthine says policies that lean against asset bubbles can create large shortfall in economic growth; prefers forward-looking macro-prudential tools
Swedish authorities improve macroprudential policy co-operation
The Riksbank and Finansinspektionen form a new council for co-operation on macroprudential policy; group will not infringe on two authorities' independence in decision-making
European banks still exposed to US dollar funding risks, ESRB warns
European Systemic Risk Board issues recommendations to prevent build up in US dollar funding and liquidity risk; calls for single entity to be responsible for national macro-prudential policy
BoJ paper finds limited impact of tax benefits on corporate capital structure
Research finds default costs and the costs of outside equity have a larger effect on corporate capital structure than tax benefits
Bank consults on instruments of macroprudential policy
Bank of England releases discussion paper to gather feedback on possible tools for macroprudential policy management
Kohn talks of macro-prudential policy ‘infancy’
Donald Kohn tells US audience about the UK’s Financial Policy Committee; explains the “consistent and systematic” application of macro-prudential policies is still developing
Japan’s Miyao hammers home macroprudential importance
Speaking in San Francisco, policy board member Ryuzo Miyao explains how Japan is working on ways to better assess risks across the country’s entire financial system
IMF paper calls for urgent completion of macro-prudential frameworks
Fund study says early implementation of new macro-prudential measures will mitigate cross-border risks
Central Bank of Brazil paper on designing an effective macroprudential framework
Central Bank of Brazil study says macro-prudential tools can adversely influence monetary policy transmission mechanism
The dangerous scramble for liquidity
William Allen of the Cass Business School in London warns there is a danger that capital requirement measures intended to make the financial system safer may do more harm than good
Cleveland Fed paper outlines benefits of new early-warning system
Cleveland Federal Reserve study assesses latest model for developing early-warning systems to highlight build-up of systemic risk
IMF stresses importance of central banks’ role in macro-prudential policy use
IMF releases research into macro-prudental tools; stresses importance of central banks’ roles in using policy to fend off financial crises
BIS reviews development of macroprudential toolkits
Bank for International Settlements progress report to G-20 says macroprudential framework needs appropriate tools to limit systemic risk; provides broad definition of macroprudential
ESRB publishes foreign currency lending recommendations
European Systemic Risk Board releases recommendations on lending in foreign currencies; new measures addressed to member states, national supervisory authorities and European Banking Authority