Financial Stability
Labour productivity fosters booms
New York Federal Reserve shows labour productivity helps create bubbles
National Bank of Austria – Research Update newsletter
National Bank of Austria publishes latest Research Update newsletter
Foreign demand for euro banknotes on the rise
European Central Bank shows that 2008 saw a strong increase in the demand for euro-cash outside the euro area
Eurozone banks pay heed to ECB’s debit card calls
Euro-area banks proposing system to rival MasterCard and Visa
IMF sees world economy coming out of recession
International Monetary Fund says global economy pulling out of recession, but recovery expected to be sluggish
Washington names nine to buy toxic assets
The US Treasury, Federal Reserve and Federal Deposit Insurance Corporation give nine firms the right to buy assets under the legacy securities programme
China’s international balance sheet to triple in ten years
Bank for International Settlements shows that China’s role as a creditor nation will increase in the future
Kenya – Bank Supervision Annual Report 2008
Central Bank of Kenya’s latest Bank Supervision Annual Report notes that domestic banks continue to embrace new technology
PNG’s Bakani calls on government to cut costs
Bank of Papua New Guinea’s Loi Bakani says that the government should cut expenditure in the face of low export-commodity prices
US policymakers should implement Brady Plan-like measures
Boston Federal Reserve shows that lessons from the Latin American debt crisis can be applied to the US credit securitisation markets
Counterparty risk drives foreign-exchange swap market
Bank for International Settlements investigates dislocations in the foreign-exchange swap market between the dollar and three major European currencies
IMF’s Kato praises China’s commitment to the Fund
China’s intention to invest in International Monetary Fund’s notes is highly important, says Takatoshi Kato, a deputy managing director of the Fund
UK government wards Bank off leaning against wind
Alistair Darling’s long-awaited proposals beef up bank regulation but say the Bank of England should avoid leaning against the wind with rate moves
Nigeria liberalises FX regime, looks to spur liquidity
The Central Bank of Nigeria’s new governor displays intent to move rapidly to fix the financial sector
Eurosystem compiles cards ‘Doomsday’ book
Oversight report on major card schemes planned for release next year
BIS’s Caruana recommends capital ratios of above 10% in booms
Bank for International Settlements’ Jaime Caruana says that capital ratios for financial institutions could go above 10% in good times
British official attacks EU hedge-fund rules
Lord Myners, a UK Treasury minister, labels Brussels’ draft hedge-fund code “ill considered” and “flawed”
BIS’s Caruana calls for rule-based approach
Jaime Caruana from the Bank for International Settlements says rule-based approach is needed to address the procyclicality of the financial system
German finance minister warns ECB on liquidity overhang
Peer Steinbrück joins Angela Merkel in warning of potential inflationary impact of central bank’s extraordinary measures
Hong Kong’s markets mirror US in turbulent times
Hong Kong Monetary Authority looks at financial market interactions with the US and mainland China
CEBS publishes draft liquidity guidelines
Committee of European Banking Supervisors issues consultation paper on liquidity buffers for financial institutions
Bretton Woods institutions launch website for autumn meetings
The World Bank and the International Monetary Fund set up a site for October gathering
Ex-IMF’s Johnson queries NY Fed’s bubble-bursting claims
Former International Monetary Fund research head challenges New York Fed’s Dudley claim that central bank can burst bubbles
ECB's Tumpel-Gugerell confident of adding sterling to T2S
Tumpel-Gugerell believes Bank of England can be convinced to participate in pan-European securities-settlement platform