Financial Stability
EMEs deserve bigger role in reform debate: DIFC, CIC officials
Dubai International Financial Centre's Nasser Saidi and China Investment Corporation's Jin Liqun say emerging markets' prominence set to endure, mandating bigger voice in regulatory reform process
EU bailout vehicle nets top credit rating
European Financial Stability Facility secures triple A rating
More than half of Hong Kong banknotes held outside territory
Hong Kong Monetary Authority research cites increased integration with mainland and popularity of Macao as factors
UK Treasury tables insolvency plans for investment banks
Treasury says Lehman Brothers’ failure showed strong case for introducing special administration regime for investment banks
Weber on growth prospects after the crisis
Bundesbank president stresses financial stability has to and will be reinforced
Ghana’s Amissah-Arthur on a step to modernise payments
Governor of the Bank of Ghana says Central Securities Depository will become central bank subsidiary in order to modernise payments
Shirakawa rights wrongs of ‘lost decade’
Bank of Japan governor challenges barbs over economy’s, and central bank’s, performance over recent decades; calls for “deeper understanding” of liquidity and counterparty risk
IMF’s Lipsky: G20 Seoul Summit “the first test”
Formation of a Comprehensive Action Plan true measure of whether lessons of crisis have been learned
Central banks must work with stakeholders to improve repo clearing and settlement: BIS body
Committee on Payment and Settlement Systems identifies seven key problems in repo markets; says central banks, regulators and stakeholders must join forces to hammer out solutions
Strauss-Kahn calls for European fiscal federation
IMF managing director Dominique Strauss-Kahn proposes creation of European fiscal authority similar to ECB to oversee fiscal policy
Goodhart attacks new European supervisory structure
Academic labels three new watchdogs “a waste and a mistake”; former financial secretary Lord Myners scornful of Basel III
Contingent capital will keep markets on their toes: Canada’s Carney
Bank of Canada governor Mark Carney says a broad bail-in approach presents a promising means to rein in moral hazard; says Basel III will benefit competition
IMF’s Strauss-Kahn: unemployment bears grave social costs
IMF managing director Dominique Strauss-Kahn says failure to tackle unemployment could lead to lost generation
BoJ's Nishimura says subprime crisis mirrored Japan’s 80’s housing bust
Bank of Japan deputy governor Kiyohiko Nishimura discusses commonalities between Japan’s recession in 1980 and United States subprime mortgage crisis
Canada’s Carney pushes for change in global monetary order
Bank of Canada governor warns international monetary system “an increasingly unstable hybrid of fixed and floating regimes”; cites role of G20 as premier forum for economic cooperation
Growth in European cashless payments subsides
European Central Bank payments statistics shows amount of non-cash payments increased but at a slower rate than in previous eight years
Bank of Israel: Currency Department Annual Review (2009)
Bank of Israel currency department’s report for 2009 reviews new cash payments system policy
Trichet warns Romania of complacency
European Central Bank president Jean-Claude Trichet advises Romania to actively tackle deficit at event marking central bank’s 130th anniversary
India’s Chakrabarty demands technological improvement in banking services
Reserve Bank of India deputy governor Kamalesh Chandra Chakrabarty says country needs to update banking infrastructure to maintain current growth levels
ECB’s Bini Smaghi calls for more studies into sovereign risk
European Central Bank executive board member Lorenzo Bini Smaghi calls for more research into how markets react
IMF on why bad news increases volatility, decreases leverage
IMF research attempts to explain why bad news is often associated with higher future volatility
France’s Redouin favours central banks’ new dual role
Banque de France first deputy governor Jean-Paul Redouin says having financial stability and monetary policy under one roof will strengthen surveillance of financial sector
Dublin to split troubled lender
Anglo Irish to be split after more than a year-and-a-half of state ownership
RBI’s Thorat: formalise payments to promote inclusive growth
Reserve Bank of India deputy Usha Thorat says payments developments offer “unique opportunity”