Financial Stability
Basel Committee advises on cover payments
The Basel Committee on Banking Supervision on Tuesday issued its final guidelines on cover payment messages related to cross-border wire transfers, which can be used for money laundering and terrorist financing.
Learning from previous financial crises
Research by Kenneth Rogoff and Carmen Reinhart finds that financial crises in rich countries have much in common with those in emerging markets.
CNB's Tuma calls for cross-border supervision
Zdenek Tuma discusses the future of financial regulation and the prospects for joining the euro
Fed's Lacker blames safety net for crisis
A senior Federal Reserve official has said that the implicit guarantee that the government would step in and save those institutions deemed too big to fail was a key cause of the current economic malaise.
LatAm leaders pledge $7bn to Bank of the South
Leaders from seven of Latin America's biggest economies have agreed to provide $7 billion as start-up capital to the Bank of the South, a proposed regional counterweight to the Washington-based Bretton Woods institutions.
NY Fed's Dudley to fill Geithner's boots at CPSS
William Dudley, the president of the New York Federal Reserve who took over from Tim Geithner earlier this year, will also replace his former boss as chairman of the Committee on Payment and Settlement Systems.
US experience so similar to ours: Japan deputy
The current situation in the United States bears a "remarkable resemblance" to Japan's lost decade, Kiyohiko Nishimura, a deputy governor at the Bank of Japan, has said.
US payments systems still evolving
Research by the Kansas City Federal Reserve looks back at some early payments systems and examines their status today and where they may be heading.
Italy's Draghi on FSB initiatives
In a speech to the International Monetary and Financial Committee last month, Mario Draghi, the governor of the Bank of Italy and the chairman of the Financial Stability Board (FSB), reported on the progress the board had made in the three weeks since it…
How to strengthen Islamic finance - HKMA's Lau
In a speech in Singapore, Edmond Lau, the executive director for monetary management at the Hong Kong Monetary Authority, listed six elements for promoting the stability, integrity, diversity and efficiency of financial intermediation across…
Fed's Maiden Lane down $10 billion
More than 14% was wiped off the value of the assets held on the Federal Reserve's books as collateral for its bailouts of Bear Stearns, a now defunct investment bank, and American International Group (AIG), a beleaguered insurer, in the three months to…
Riksbank upgrades Latvian swap line
The Riksbank has extended its swap line with the Bank of Latvia and raised the amount on offer to €500m ($675m).
Fed's Bernanke sees improved market conditions
Conditions in a number of financial markets have improved in recent weeks, said Ben Bernanke, the chairman of the Federal Reserve.
France explains Sepa delay
The French National Single Euro Payments Area (Sepa) Committee has justified its decision to delay the implementation of Sepa Direct Debit until November 2010, a year after the first available start date.
Systemic rules a key challenge: Fed's Rosengren
Some of the most challenging issues on the regulatory agenda surround the role and powers of the institutions charged with systemic regulation, Eric Rosengren, the president of the Boston Federal Reserve, has said.
Fed's Yellen: recovery will not be V-shaped
The recession will end in the second half of this year, but it will not be a V-shaped recovery, said Janet Yellen, the president of the San Francisco Federal Reserve.
Fed's Hoenig pans US crisis approach
Thomas Hoenig, the president of the Kansas City Federal Reserve, has criticised several aspects of the United States's crisis response.
ASEAN agree on Chiang Mai
The 13 countries participating in the Chiang Mai Initiative to create bilateral currency swaps have reached an agreement on the main components of the scheme.
ECB's Papademos: injections staved off collapse
The expansion of liquidity to the eurozone's banks since August 2007 has ensured that a systemic crisis was averted, said Lucas Papademos, the vice president of the European Central Bank.
Fed's Lacker sees end of year recovery
Jeffrey Lacker, the president of the Richmond Federal Reserve, expects the recession to end later this year.
France bails on Sepa Direct Debit
The French National Single Euro Payments Area (Sepa) Committee, set up and chaired by the Banque de France and the French Banking Federation, has opted to delay the implementation of Sepa direct debit by a year to November 2010.
Central banks partly to blame: UK MPs
Though banks were ultimately culpable, central bank must acknowledge a share of the blame for the financial crisis, an influential group of British lawmakers has said.
ECB's Bini Smaghi: credit easing won't work for us
Unconventional policy measures that would best suit the euro area are likely to differ in terms of scope and depth from those in the United States or other advanced economies, said Lorenzo Bini Smaghi, a member of the European Central Bank's (ECB)…
Roubini praises Geithner
Nouriel Roubini, the economist most often identified as having predicted the crash, has complimented Tim Geithner for his performance as the United States treasury secretary and as head of the New York Federal Reserve.