Financial Stability
US authorities reveal new souped-up $100 note
Tilt security features for first time; Benjamin Franklin still the face of hoarders' favourite
Swiss tighten liquidity rules for biggest banks
Swiss Financial Market Supervisory Authority and the Swiss National Bank clamp down on UBS and Credit Suisse through stricter liquidity regime
Fund calls for two taxes on banks
Leaked IMF interim report suggests a broad levy, and a profits and salaries tax as contingency against the risk of future government bailouts; rejects Tobin tax idea
France names top brass for new financial regulator
Deputy general secretaries for Autorité de Contrôle Prudentiel announced
Sovereign default the greatest threat: IMF
Sovereign default risk has soared and is the biggest threat to near-term stability, some segments of banking systems also present dangers
Weber denies mooting €80 billion figure for Greek bailout
Bundesbank president Axel Weber says the figure came from previous Greek estimates
The forces of darkness overwhelm bank reform
Banks’ lobbying and politicians’ arguments against the Dodd regulatory reform bill are lamentable, Robert Pringle writes
Caruana: integration essential to global framework
Bank for International Settlements general manager Jamie Caruana draws on importance of financial integration in forming new global framework for financial system
Buba's Weber says Greece will need up to €80 billion: reports
Bundesbank president Axel Weber reportedly tells German parliamentary group Greek bailout costs could soar
Iceland's Guðmundsson laments lack of progress in regulation
Icelandic central bank governor says the promised regulatory overhaul has yet to transpire and institutions still do not have all necessary information to prevent a collapse
Greece takes grudging step towards bailout
Greek government initiates procedures concerning proposed $40 billion rescue with eurozone and IMF, problems anticipated in joint effort
Bank of Canada highlights requirements for global recovery
Study shows a rebalance in global current account necessary for sustainable growth
EU finance chiefs to mull creditor haircuts
European finance ministers will discuss proposals to dock uninsured creditors and adopt instruments that convert debt to equity in distress at informal meeting on Saturday
Lacker: Fed needs to offload risky assets first
Richmond Fed President tells audience MBS sales would reduce distortions in asset prices.
Fed's Tarullo sceptical over contingent capital
Federal Reserve's Daniel Tarullo highlights drawbacks of contingent capital forming part of new regulatory framework
Fund relents on capital controls
IMF admits capital controls have a role to play in its latest flagship report overturning long-held position, fleshes out possible capital surcharge framework
Bair: FDIC-style bailout needed for very large banks
Chairwoman of the FDIC Sheila Bair outlines resolution regime for the biggest firms
IMF stockpiles funds for crisis resolution
Fund prepares for the worst with $500 billion in extra funds from a standing borrowing arrangement with selected members
Money market integration biggest casualty of crunch: ECB
ECB’s financial integration report says areas in which most integration was achieved took the hardest hit, but recovery is following similar pattern
Greece’s $40 billion bailout an improvement, but issues remain
Markets soothed as firm details of Greek rescue plan are announced, eurozone will provide €30 billion at discounted 5% rate for year forward, analysts less convinced
INET: Soros leads calls for reform
Soros argues for financial markets to be understood as a branch of history in order to prevent crises
Iceland’s “grossly negligent” central bankers caused collapse: report
Much awaited parliamentary report singles out seven individuals including Icelandic central bank’s governing board trio as responsible for 2008 collapse of banking sector
HKMA: offshore markets can help boost currency trade
Hong Kong Monetary Authority says risks of trading currency in offshore markets are manageable
Norway’s Gjedrem: IMF, not G20, must lead post-crisis policy debate
Norges Bank governor Svein Gjedrem sees IMF as key means to engage all countries in building global policy framework