Financial Stability
RBI’s Chakrabarty: banks must embrace technology
Reserve Bank of India deputy governor Kamalesh Chandra Chakrabarty says technology should play a greater role in banks’ strategic plans
G20 leaders pinpoint indicators for global imbalance guidelines
G20 central bankers, finance minister set out indicators to be used in assessing imbalances
FSB outlines progress on national resolution regimes
Financial Stability Board says work on building framework for national resolution regimes well under way; loss absorbency measures for global sifis on schedule
Bahraini bankers criticised central bank in lead-up to crisis: WikiLeak
WikiLeak alleges some economists and bankers dissatisfied with Central Bank of Bahrain's slow reaction to real-estate sector problems
Bundesbank slams idea of using ESM to buy government debt
Bundesbank says using enlarged European Stability Mechanism to buy government bonds of troubled countries will place more burden on taxpayers
Fed's Raskin on debit card reform
Federal Reserve board member Sarah Raskin outlines regulatory changes in debit card industry
Monetary policy effects on housing bubble: Bank paper
Bank of England study measures impact of monetary policy and capital inflows on housing activity
Endogenous debt crises: CEPR paper
Centre for Economic Policy Research study says reckless borrowers pose greater threat of sovereign default than poor economic growth
Basel alone will not protect us: UK Treasury Committee’s Tyrie
UK Treasury Select Committee chair Andrew Tyrie says fundamental changes to the way banks are supervised a must; tripartite system left no one in charge
Beijing downplays hot money flows
China’s State Administration of Foreign Exchange says hot money flows are “ant-like” relative to size of economy; analysts say results downplay risks of emerging markets overheating
Zhou and Carstens new co-heads of IIF crisis prevention group
People’s Bank of China governor Zhou Xiaochuan and Bank of Mexico governor Agustín Carstens to co-head Group of Trustees at Institute of International Finance working group
Household attitudes are changing: RBA’s Lowe
Reserve Bank of Australia assistant governor Philip Lowe says restraint in household consumption may be a long-term trend
No more bailouts under Dodd-Frank: FDIC’s Bair
Federal Deposit Insurance Corporation chair Sheila Bair says Dodd-Frank Act ensures taxpayer will no longer bear cost of bank failures
Bernanke on progress of Dodd-Frank reforms
Federal Reserve chairman Ben Bernanke outlines Dodd Frank reforms in financial stability area
The collateral squeeze of 2008
William Allen and Richhild Moessner analyse data from US commercial banks and Morgan Stanley in the months surrounding Lehman Brothers’ collapse
Rebalancing growth in Asia: IMF paper
Fund study examines case for rebalancing growth in Asia through investment-oriented policies
Bank of Finland paper on boom and bust
Bank of Finland proposes model to measure financial frictions in the Finnish economy
UK Treasury fleshes out new regulatory set-up
UK Treasury details powers of the new macroprudential body; rebrands Consumer Protection and Markets Authority to reflect underlying purpose
ECB overnight lending rockets to 19-month high
Banks’ borrowing from the European Central Bank’s marginal lending facility climbs to $21 billion on Wednesday; sudden move has sparked speculation on bank troubles, analysts say
Fed’s Kohn appointed to Bank’s FPC
UK government names four external members to interim Financial Policy Committee; former Fed vice-chair Donald Kohn among three ex-central bankers appointed to macroprudential body
Dallas Fed paper on SNB crisis measures
Dallas Federal Reserve case study on success of Swiss National Bank liquidity provisions to foreign banks
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