Macro-prudential policy
US can go it alone on reforms: Volcker
Former Fed chairman Paul Volcker says international consensus on reform not necessary
Cooperation key to EU stability: González-Páramo
European Central Bank’s José Manuel González-Páramo says EU institutions must share expertise and statistical information
Stability framework possible despite data challenge: Borio
Bank for International Settlements’ Claudio Borio says measurement of financial stability is the major challenge
Global rules for regulation or “catastrophe”: Trichet
ECB president Jean-Claude Trichet says international coordination is absolutely necessary in revamping regulation
Systemic risk more than size and default probability
Bank of Canada looks at measuring aggregate risk in the financial system
FSA’s Turner wants new macroprudential body
The UK’s top regulator Adair Turner says a body other than the Bank of England is needed to implement macroprudential supervision
Reshape debt to prevent future crises: Bank’s Haldane
Bank of England director Andrew Haldane points to debt-equity swaps and contingent capital as means to avoid another debt crisis; says shareholder dividends should have been saved
Mauritius’s Googoolye on macro supervision
Bank of Mauritius’s Yandraduth Googoolye says that the country’s revenue authority will share tax data with the central bank to aid policymaking
Israel’s Hizkiyahu on financial regulation architecture
Bank of Israel’s Rony Hizkiyahu says move from sectorial to functional regulation key
Leverage constraints: the Canadian experience
Bank of Canada paper shows that domestic banks fared better in the lead up to the crisis for having leverage ceilings; highlights some practical concerns
Imbalances must be addressed: Trichet
ECB president Trichet points to imbalances in emerging Asian countries and stresses importance of Europe-wide and international cooperation on macroprudential supervision
BoE’s Posen wants housing “stabilisers” to control bubbles
Monetary Policy Committee’s Adam Posen calls for existing taxes to work as automatic stabilisers for house prices; argues against leaning against the wind with rates
Narrow banking not the answer: RBI’s Subbarao
RBI governor dismisses breaking up banks as solution to financial-sector problems; argues for macroprudential policy measures to tackle interconnectedness
Bank paper outlines macroprudential tools
Bank of England discusses possible forms of countercyclical capital buffers; highlights potential problems
Spain’s Ordóñez plays down dynamic provisioning
Bank of Spain’s governor modest on much-vaunted regulatory tool
ECB’s Tumpel-Gugerell on dangers of all roads leading to Rome
Gertrude Tumpel-Gugerell, an ECB executive board member, says the work of the European Systemic Risk Board would be crucial in future approach to financial stability
Separating the casino from the retail bank will not work
A division between investment and retail banking will not prevent future financial crises, Clive Briault, the founder of Risk and Regulation Consulting and a former managing director at the Financial Services Authority, argues
Interview: Paul De Grauwe
The major central banks have responded differently to the global financial and economic crisis, threatening a return to beggar-thyneighbour policies, Paul De Grauwe tells Malan Rietveld
Getting back on track
Jacques de Larosière analyses the problems with the originate-and-distribute model and what regulatory response is required