Financial Stability
Turkey’s Turhan: globalisation needs legislative underpinning
Central Bank of Turkey’s Ibrahim Turhan on global economic order
China not sheltered from subprime
International Monetary Fund says China’s stock market is affected by the US subprime crisis
Fed extends Talf programme
The Federal Reserve extends key loan facility for asset-backed securities, soothing market concerns
Weber and Sanio fight back on HRE rescue
Bundesbank’s Axel Weber and BaFin’s Jochen Sanio say they did not mislead the public in the rescue of Hypo Real Estate
Northern Rock drops debt repayment
Northern Rock drops payment on part of its subordinated debt
South Africa to implement new reserves policy: Guma
South African Reserve Bank’s Xolile Guma on central bank’s role as wealth managers
India’s Mohan: regulation to tackle procyclicality of banks funding
Reserve Bank of India deputy governor, Rakesh Mohan, says reliance on short-term wholesale market funding increased the sensitivity of banks' balance sheets and cost of funds
BoE's Sentance sees recession ending soon
Bank of England’s Andrew Sentance sees recovery in UK and global economies, with Asia at the forefront
Rodrik: Fed needs paradigm shift
Harvard economists argues the new Fed chairman has to be less in awe of Wall Street
Nigeria suspends trading in troubled banks
Nigerian authorities suspending trading in troubled bank shares and look to foreign investors to restore health
Pakistan cuts against Fund advice
State Bank of Pakistan cuts rates, against International Monetary Fund advice, as inflation slows
Yuen named new HKMA deputy
Arthur Yuen succeeds Y.K. Choi as the Hong Kong Monetary Authority’s stability deputy in the new year
India moves to cut out counterfeiting
Reserve Bank of India proposes raft of measures to stamp out fake banknotes
Counterparty risk still large
International Monetary Fund assesses counterparty risk in the United States stemming from exposures to over-the-counter derivatives payables
European Central Bank - Monthly Bulletin August
European Central Bank’s Monthly Bulletin justifies keeping key rates on hold
FSA issues code on bank bonuses
UK Financial Services Authority releases rules on bankers’ remuneration policies
Canada’s Carney: new capital requirements needed
Bank of Canada’s Mark Carney on building a more resilient financial system
IMF plays down quantitative-easing fears
International Monetary Fund says evidence on the effectiveness of Bank of England’s quantitative easing is moderately encouraging
ECB looks to soothe deflation fears
European Central Bank’s Jean-Claude Trichet and Lucas Papademos comment on the Governing Council’s decision to keep the key interest rates unchanged
Dubai to set up new Middle East payments system
Dubai enacts law to enable the establishment of real-time payments system for the Middle East and North Africa
S&P downgrades Latvia, Estonia
Latvia’s and Estonia’s long-term sovereign ratings downgraded, Lithuanian rating’s outlook put on negative watch
ECB consults on payment scheme oversight
Eurosystem publishes draft standards for assessing direct debit and credit transfer schemes
Swap lines had crucial impact: Aizenman
Joshua Aizenman, an economist, on the importance of emerging-market foreign-exchange swap lines during the crisis
Ocampo proposes move to fully SDR-based IMF
José Antonio Ocampo on reforming the global reserve system