Opinion/Financial Stability
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
Europe should learn from US mistakes
Former chairman of the Federal Deposit Insurance Company William Isaac warns Europe to heed the lessons from TARP and catastrophic public stress tests
Sensible ideas from Vickers – but are they too late?
As the banking industry sits on the brink of another crisis, Robert Pringle asks, has the ICB report come too late?
The new environment facing sovereign investors
Post-crisis, SWFs meet with less official resistance to investment, but markets are trickier and stakeholders no less demanding, writes Donghyun Park
When the price is wrong
Determining how best to step in when markets struggle to price assets fairly remains a key unanswered question from the crisis
It is the supervision of the banks, not their structure, that is most important
A separation between retail and investment banking would in itself do nothing to correct bad management practices and would quite possibly fail in its aim to protect the public purse, Roger Alford argues.
An overemphasis on risk models was the key flaw in the regulatory architecture
Risk models are useful for banks’ risk managers, but regulators should beware, Brandon Davies notes
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
Without better data, we risk a repeat of the crisis
More analysis of the nature of cross-border financial flows and a global risk map are essential in countering systemic threats, Bernd Braasch argues
Central banks after the crisis: many questions, few answers
The turmoil has left our profession facing some uncomfortable truths, Mojmír Hampl notes.
It's the forest stupid
Dodd Frank fails to deal with systemic risk, former chairman of the Federal Deposit Insurance Corporation William Issac argues
What Basel III means to us
The Basel Committee on Banking Supervision published the final text of Basel III on December 16, which introduces new minimum capital requirements, two liquidity ratios, a charge for credit value adjustment and a leverage ratio, among other things. Risk…
Despite Ireland’s bailout, the eurozone’s problems remain
Ireland’s bailout merely delays the day of reckoning for the euro project, Geoffrey Wood argues
Financial regulators’ doubts about the prudential regime
Officials are far from confident that they will be able to create a more resilient financial system, Robert Pringle writes
No easy alternatives to credit ratings
US regulators are right to look to curb their reliance on credit ratings. However, it will prove tricky to find viable alternatives
Japan: not a bad record
In the final article of a six-part series on the Japanese economy, Robert Pringle reports from Tokyo on how the crisis has impacted Japan’s global outlook
Trenchant critique of inflation targeting
In the fourth of a six-part series on the Japanese economy, Robert Pringle reports from Tokyo on how the crisis has impacted Japan’s global outlook
Policy produces dull but safe banks
In the second of a six-part series on the Japanese economy, Robert Pringle reports from Tokyo on how the crisis has impacted the nation’s global outlook
Crisis makes Tokyo more insular
In the first of a six-part series on the Japanese economy, Robert Pringle reports from Tokyo on how the crisis has impacted the nation’s global outlook
Volcker should chair FSoc
Aspects of the Dodd-Frank Act are welcome but crises will continue to be mismanaged, Robert Pringle writes.
Gold should form an essential part of central banks’ liquidity portfolio
The credit crisis has highlighted that in times of turmoil, gold is one of the few assets that remains liquid, says Natalie Dempster, director of government affairs at the World Gold Council
UK officials must consider cultural factors in regulatory overhaul
Navigating the transition to Britain’s new regulatory regime is fraught with cultural challenges, writes Michael Foot