Subprime

Indonesia still vulnerable to shock

Indonesia's current economic conditions mirror those that sparked the 1997-1998 Asian financial crisis and the central bank is working to protect the country from the impact of a potentially similar scenario, Budi Mulya, a director at Bank Indonesia,…

Fed's regulatory response to subprime revealed

Better consumer information, rules to address unfair lending practices and a more coordinated enforcement of consumer-protection laws are needed to prevent another subprime crisis, according to the Federal Reserve.

We're not out of this yet - Greenspan

Despite a "creep back to normality" in the asset-backed commercial paper and inter-bank markets, Alan Greenspan, the former governor of the Federal Reserve, cautioned that the recent turmoil could have further repercussions.

Bernanke's Capitol Hill testimony

Ben Bernanke, the chairman of the Federal Reserve, testified before the US House of Representatives' Committee on Financial Services on 20 September. In this testimony he discusses the Fed's response to the subprime-mortgage crisis and possible…

King's paper on current turmoil

The governor of the Bank of England, Mervyn King, presented a 10-page paper on the recent market turmoil and the Bank's response, to the British parliament's Treasury Committee prior to his testimony on 20 September.

New assurances from Bernanke and Paulson

Ben Bernanke, chairman of the Federal Reserve, told the American Congress today that "significant market stress" had been caused by the credit crisis, but reiterated his assurances that regulators would move to curb fallout from the subprime mortgage…

Deadlock in the inter-bank markets

The continuing difficulties in the global inter-bank markets, which started on 9 August, have already given rise to a mountain of speculation about the possible causes and what central banks should do about the problem.

Fed's Kroszner on the 1997 Asian crisis

Randall Kroszner, a governor of the Federal Reserve, said that he would "offer some thoughts about ways to analyse and assess the impact of banking crises on real economic activity."

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.

Fed Board's Mishkin writes on housing crisis

In a timely paper, Frederic Mishkin, one of five current members of the Federal Reserve's Board of Governors, has emphasised the importance of the housing industry on the US economy. Mishkin said: "The housing market is of central concern to monetary…

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