Financial Stability
FSB reviews OTC reform
Financial Stability Board progress report says implementation of OTC derivative reform varies across countries
Greek budget cuts raise default concerns
Markets prepare for the worst as Athens unveils new tougher austerity measures; IMF managing director Dominique Strauss-Kahn says cuts are necessary
Russia launches Olympic coins
Bank of Russia launches Sochi 2014 coin series to “promote Olympic values in Russia and abroad”
ECB’s González-Páramo urges risk framework overhaul
European Central Bank executive board member José Manuel González-Páramo calls for widespread change to risk control frameworks
Banks caught in ‘maelstrom of interlinked pressures’: IMF
IMF’s Global Financial Stability Report slams progress made by banking system reforms; calls for higher quality and quantity capital in Europe
Bank’s Fisher optimistic on winding down crisis facilities
Bank of England executive director of markets Paul Fisher says recent progress in markets reinforced decision to end special liquidity scheme next year
Albania’s Fullani emphasises importance of stress tests
Bank of Albania governor Ardian Fullani calls for more attention to stress tests as part of central banks’ macroprudential policy
FDIC projects return to black
Federal Deposit Insurance Corporation expects its deposit insurance fund to return to positive figures this year after 13 quarters of negative funds
Finland’s Hakkarainen spots growth divergence in Europe
Bank of Finland deputy governor Pentti Hakkarainen warns of growth imbalances forming within Europe
‘Disquieting developments’ in ETFs warrants attention: FSB
Financial Stability Board warns of potential issues arising from recent trends in exchange-traded funds (ETFs)
Risk management reforms a work in progress: IIF survey
Institute of International Finance survey says further progress on risk management reforms necessary; calls for more work to promote appropriate risk culture
FSB outlines road to shadow banking regulation
Financial Stability Board sets out detailed definition of shadow bank; outlines possible future steps to better regulate the system
Shirakawa on earthquake response efforts
Bank of Japan governor Masaaki Shirakawa says he feared earthquake would lead to deterioration in business sentiment
UK banking commission keen on ring-fencing retail operations
Safeguards on retail banking “common sense” chairman claims; Sifis need minimum capital ratio of 10%
IMF praises PMA as Palestine bids for statehood
Palestine Monetary Authority “now in a position to carry out functions of a central bank” as the territory bids for statehood recognition as of September
Belgium unveils financial health indicator
National Bank of Belgium designs financial health indicator to monitor risk of company failures; says probability of bankruptcy higher than 25% for least financially sound
Bank’s Haldane warns capital inflows may overwhelm emerging markets
Bank of England executive director for financial stability Andrew Haldane says rapid rate of investment in emerging markets could lead to financial instability
Consumers move back to cash payments: Boston Fed paper
Boston Federal Reserve study finds evidence of decline in credit and debit card usage and increase in cash payments during financial crisis
BoJ - Monthly Report of Recent Economic and Financial Developments (April 2011)
The Bank of Japan’s April 2011 Monthly Report of Recent Economic and Financial Developments finds evidence of a sharp slowdown in production following Tohoku earthquake
Sepa end-dates should be set in stone: ECB
European Central Bank proposes concrete end-dates for migration to Single Euro Payments Area
Greek debt still the most risky: CMA survey
CMA labels Greek sovereign debt as most risky in the world, second quarter in a row; countries elsewhere in Western Europe performed the best
EBA reveals benchmark for EU stress tests
European Banking Authority to apply 5% core Tier I capital ratio of risk-weighted assets on stress tests; says 90 banks will participate in tests
HKMA’s Chan reviews merits of universal banking
Hong Kong Monetary Authority chief executive Norman Chan says central bank will take balanced approach to universal banking
Japan offers ¥1 trillion to firms in disaster-stricken regions
Bank of Japan makes ¥1 trillion available for loans to financial co-operatives and banks in disaster-stricken regions