Financial Stability
Saudi governor confirms GCC currency plan changes
The Gulf Cooperation Council (GCC) looks set to drop its 2010 target for monetary union after the governor of the Saudi Arabian central bank said that it would take longer than two years to establish a common currency.
Norges Bank - Payments Systems Annual Report 2007
Svein Gjedrem, the governor of Norges Bank, urged banks to charge for their payment services in order to cover the costs associated with payment systems.
Friends of Gieve defend departing deputy
Friends of Sir John Gieve, the deputy governor responsible for financial stability at the Bank of England who announced his decision to step down last week, have rebutted claims that he was culpable for the run on Northern Rock.
Interbank tensions remain: SNB's Jordan
Money markets are still exhibiting signs of stress despite clear signs of a return to calm, Thomas Jordan, a member of the Swiss National Bank's governing board, noted.
Policy should encourage card payments: Riksbank
Swedish consumers over-use cash and under-use cards from a social perspective because their choice of payment instrument is based on private incentives, research by the Riksbank finds.
BoE's Gieve to leave following stability changes
Sir John Gieve, the Bank of England's deputy governor responsible for financial stability, will step down once changes to the Bank's financial stability role are in place.
Libor misrepresents market rates, poll finds
The London Interbank Offered Rate (Libor), a measure of interbank borrowing costs often used to gauge financial market stress, fails to reflect actual money-market rates for cash, traders say.
De La Rue sells cash systems business to Carlyle
Carlyle Group, a private equity firm, looks set to buy the cash systems business of De La Rue, the biggest private printer of banknotes, for £360m ($704m).
HKMA uncovers securitisation trends
The Hong Kong Monetary Authority's latest Quarterly Bulletin includes a discussion of the results of a survey, which offers perspectives on the future of securitisation.
Canada reviews financial stability
Tensions in Canadian credit markets have been somewhat less severe than those in the United States, the latest Financial Stability Review from the Bank of Canada concludes.
IMF on how to insure against external shocks
A new International Monetary Fund paper finds the level of reserves required to self-insure against external shocks for two of the world's most vulnerable regions.
Payments after 2010
A new book from payments visionary Harry Leinonen of the Bank of Finland looks at how people will make and receive payments in the second decade of the 21st century and beyond.
The Fed on the 1987 crash
The Federal Reserve has assessed its response to the 1987 stock market crash.
NZ counters payments-systems attack
The Reserve Bank of New Zealand has hit back at criticisms of the country's payments and settlements systems.
Fed details banks' balance sheet developments
The Federal Reserve has published an account of the profits of and balance-sheet developments at US commercial banks in 2007.
Stronger stability framework a priority: King
Mervyn King, the governor of the Bank of England, has said that he wants to establish a sturdier financial stability framework during his second term.
GCC governors back regional CB plans
Central bank governors in the gulf have taken a significant step towards monetary union, backing the creation of a regional central bank.
Stability risks have risen: ECB
The risks to euro-area financial stability have increased over the last six months, the European Central Bank said in its latest Financial Stability Review.
Turmoil caused by lethal cocktail: Buba's Weber
Axel Weber, the president of the Bundesbank, blamed the credit crunch on a cocktail of events.
City bankers set for stability role
A team of City of London bankers could support the Bank of England's efforts to foster financial stability, Alistair Darling, the chancellor, said Thursday.
Moral hazard talk reveals Fed divide
Comments from regional Federal Reserve presidents have underlined a Federal Open Market Committee (FOMC) split over the central bank's support of Wall Street, particularly its bailout of Bear Stearns.
Riksbank's Nyberg on the pros of card payments
Lars Nyberg, a deputy governor of the Riksbank, has urged Swedish consumers to pay for goods with cards rather than cash.
Lower loan costs to stem foreclosures: Boston Fed
Making mortgage payments temporarily affordable for Americans with negative housing equity is the best way to prevent foreclosure, research published by the Boston Fed finds.
Payment systems need more competition: RBA
The Reserve Bank of Australia remains concerned about the competitiveness of the country's payments system, despite improvements, said Philip Lowe, the assistant governor responsible for the financial system at the central bank.