Systemic risk
Were the ‘bloody bankers’ to blame?
J.R. Sargent assesses whether the public scorn poured on bankers is justified
Ireland’s central bank failed to alert regulators to mounting crisis: banking report
Ireland’s Commission of Investigation into banking crisis says Central Bank of Ireland missed opportunities to alert regulators to impending risks in banking sector
Portfolio correlation bias poses systemic threat: IMF paper
Fund paper finds evidence of systemic threat associated with correlation bias in allocation of investment funds
Malaysia’s Jaganathan highlights importance of supervision on insurance firms
Bank Negara Malaysia assistant governor Donald Jaganathan says insurance firms are not insulated from uncertainties of financial system
G-20 agrees guidelines to identify imbalances
G-20 representatives move forward with plans to establish guidelines to measure economic imbalances
ECB’s Bini Smaghi calls for level playing field in prudential supervision
European Central Bank executive board member Lorenzo Bini Smaghi says level playing field between European regulators would create more uniform bank resolution regime
Polish OTC clearer aims for 2012 launch as Europe fragments
Another central counterparty plans to launch in Europe, starting with zloty-denominated interest rate swaps
Central Bank of Colombia paper on too-connected-to-fail
Central Bank of Colombia study calls for too-connected-to-fail rather than traditional too-big-to-fail approach
BoE paper on systemic threat of credit rating agencies
Bank of England study says regulatory reforms should reduce reliance on credit rating agencies
BIS economists identify indicators of systemic risk
Bank for International Settlements research points to size as most reliable indicator of systemic importance, ahead of interbank lending and borrowing
NY Fed’s Krieger: liquidity backstop for shadow banks vital
New York Federal Reserve executive vice-president Sandra Krieger stresses importance of backstop measures to reduce systemic risk arising from shadow banking activities
What central bankers can learn from the school of science
It is not only science's methods, but its desire to de-mystify that should be aped, Claire Jones writes
Map of global banking network shows climb in contagion since late 1980s
Bank of England paper uses BIS banking stats to show potential for cross-border contagion has been rising for past two decades, reaching its apogee at the time of the Lehman Brothers’ collapse
Loan-to-value ratios effective macroprudential tool: HKMA paper
Hong Kong Monetary Authority study finds evidence in support of loan-to-value ratios as a macroprudential tool
Iosco draws systemic risk roadmap for securities regulators
International Organisation of Securities Commissions sets out ways in which securities authorities can help control systemic risk
ESRB elects sub-committee heads
European Systemic Risk Board elects Poland’s Marek Belka, Italy’s Mario Draghi, Cyprus’ Athanasios Orphanides, Germany’s Axel Weber, to steering committee
Bank’s Haldane borrows from science to explain systemic threats
Bank of England’s Andrew Haldane collaborates with scientist Lord Robert May in top journal Nature to highlight implications of interconnections between firms on stability of the financial system
Basel III will cause ‘financial Darwinism’: BaFin’s Sanio
Top German regulator Jochen Sanio says Basel III will squeeze weaker banks, spur formation of large banking groups that will pose more systemic risk
Israel’s Fischer on the meaning of macroprudential policy
Bank of Israel governor Stanley Fischer stresses importance of interconnections in interpreting the macroprudential mandate
Netherlands' Berndsen to build unified model of financial infrastructure
Netherlands Bank's head of oversight Ron Berndsen to construct complete financial infrastructure model as part of professorial appointment
Map of interbank market first step in project to forecast crises
Study to forecast the tipping points where banking crises have systemic implications begins with topology of European interbank market
Large pension funds a threat to financial stability – European Commission
European Commission says pension funds should also be classed as “too big to fail”
Conflicts of interest and systemic risk
In regulating against conflicts of interest, central bankers will have to study exactly how each major bank is making its profits in future, John Chown argues