Financial Stability
CNB creates stability wing in bid to beef up systemic oversight
Czech National Bank separates financial stability and economic research department; says independent department move will enhance financial stability mandate
Central bankers, politicians splinter on reach of ESRB
Weber, Constâncio specify limits of European Systemic Risk Board's authority over national regulators; politicians advocate one unified European stand
China opens up secondary loan market in bid to reduce systemic risk
China has further liberalised its interbank market to let banks transfer loans to each other
FDIC seeks to raise standards of securitised assets
Federal Deposit Insurance Corporation approves final rule requiring banks to hold 5% of securitised assets on their balance sheet
BoJ vigilant over financial risks
Bank of Japan Financial System Report warns decline in quality of bank loans could undermine progress in financial markets
Fed’s Lacker: constructive ambiguity is unworkable
Richmond Federal Reserve president Jeffrey Lacker says fudging tactics over bailouts will be short-lived
ECB: excess liquidity expansion induces financial fragility
European Central Bank study shows that over expansion of credit can lead to increased fragility in financial markets
IMF makes FSAPs compulsory
Fund says 25 countries with systemically important financial sectors will be required to undergo check-ups every five years
Nigeria limits state bond holdings; cleans up microfinance
Central Bank of Nigeria places limits on banks’ holding of state government bonds; revokes over a quarter of microfinance licences after serious problems revealed in sector
ECB’s Tumpel-Gugerell outlines challenges for ESRB
ECB executive board member Gertrude Tumpel-Gugerell says European Systemic Risk Board must overcome limitations to measuring systemic risk
UK banking commission moots reforms
Commissioners stress they have an open mind as to which structure will best suit British banking industry
Isoard to head International Association of Deposit Insurers
International Association of Deposit Insurers appoints former governing board member of Mexico's deposit protection agency Carlos Isoard as next secretary general
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
Weber’s German defence highlights leadership flaws
Bundesbank president Axel Weber blames deficit countries for eurozone’s woes; analysts say comments further complicate chances at ECB presidency
BIS must fix data gaps: Bank paper
Bank of England paper identifies specific information gaps in cross-border banking statistics published by Bank for International Settlements; improvements thought to be under way
Norway’s Gulbrandsen: benefits of regulation outweigh costs
Norges Bank’s executive director of financial stability Kristin Gulbrandsen says tight regulation would have net social benefit
US to launch financial stability council next week
Financial Stability Oversight Council to hold first meeting on 1 October
Bank of Russia wants to scrap kopek coin
Russian central bank proposes that one and five kopek coins be abolished due to high metal prices and low demand
BIS’s Caruana lauds Basel III
Bank for International Settlements general manager Jaime Caruana spells out importance of Basel III capital reforms
Price stability must remain top priority: SNB’s Jordan
Swiss National Bank’s Thomas Jordan flags difficulties in using monetary policy to counter financial imbalances
Bank’s Bailey places public at heart of stability remit
Bank of England’s Andrew Bailey says public acceptance of stability goal necessary to stave off future crises
Analysts applaud passage of ESRB, fret over practical concerns
Commentators praise the concept of a continent-wide systemic risk supervisor but say politics and lack of policy clarity could thwart good intentions
Riksbank's Svensson says monetary policy had no role in crisis
Riksbank deputy governor Lars Svensson denies monetary policy was responsible for the financial crisis
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