Financial Stability
Ex-FSA's McCarthy wants more realism on risk
Financial institutions need greater realism and modesty about their risk management capability, said Callum McCarthy, a former chairman of the Financial Services Authority (FSA).
IMF ups crisis loss estimate to $1.3 trillion
The International Monetary Fund (IMF) now expects the US credit crisis to cost the global financial system $1.3 trillion.
Saudi soothes markets as Gulf liquidity woes mount
The Saudi Arabian Monetary Agency on Thursday became the third central bank in the Gulf this week to counter money-market fears of a liquidity shortage.
EU Commission competition claims wrong
It is the low level of cross-border account mobility, not low customer mobility in national markets, which hinders the EU's bank customers' ability to switch to a more competitive bank, says Deutsche Bank research.
Canada's Murray on domestic credit markets
Strains in Canadian credit markets have been considerably less intense than those seen in the United States and elsewhere, said John Murray, a deputy governor of the Bank of Canada.
Nordic banks and RBA join Fed swap club
The Federal Reserve on Wednesday stepped up efforts to counter money market tensions, establishing additional swap lines with the Reserve Bank of Australia and three Scandinavian central banks to meet demand for dollar loans.
HKMA counters rumours third-largest lender unsound
The Hong Kong Monetary Authority (HKMA) on Wednesday moved to placate fears that the Bank of East Asia, the territory's third-largest lender, is in trouble.
BoJ: money markets still edgy
Global money markets remained nervous in the first half of 2008, according to the newest financial markets report from the Bank of Japan.
More banks will fail if we don't act: Paulson
Ben Bernanke, the chairman of the Federal Reserve, and Hank Paulson, the US Treasury secretary, have told lawmakers that a failure to rush through proposals for the purchase of up to $700 billion-worth of distressed assets would cripple the US economy.
Systemic banking crises - a new database
A paper from the International Monetary Fund presents a new database on the timing of systemic banking crises and policy responses to resolve them.
Kuwait on standby to inject funds - reports
The Central Bank of Kuwait has said it is ready to pump funds into the country's banking system, local media reported Tuesday.
Goldmans, MS abandon model, seek Fed shelter
And then there were none. Goldman Sachs and Morgan Stanley, the last of the big five Wall Street investment banks, have abandoned their business model to secure greater Fed protection and soothe negative market sentiment.
UAE launches emergency facility
The Central Bank of the United Arab Emirates on Monday became the latest monetary institution to inject funds to alleviate interbank tensions, pledging Dh50 billion ($13.6 billion).
Sweden takes "precautionary" payments measure
The Riksbank has relaxed collateral rules for transactions through its RIX payments system as a precaution against money and bond market stress.
Denmark forced to back up second bank
The National Bank of Denmark has provided emergency liquidity to another of the country's banks, it emerged Monday.
Liquidity black holes
The current crisis has seen financial giants torpedoed by a lack of liquidity, which has rapidly transformed into questions over solvency. Conversations at SIBOS, the annual gathering of people in the business of liquidity delivery - payment system…
Central banks return to collective action
After a series of individual efforts aimed at resolving money market tensions, the world's major central banks resorted to collective action on Thursday, injecting as much as $180 billion (€124.75 billion) into interbank markets through various swaps and…
World Bank to "name and shame" remitters
The World Bank has launched an online database to "name and shame" providers of remittance services around the world.
Government still not at the SEPA table
European governments who fail to move on SEPA must be shamed into action, said Jean-Michel Godeffroy, the director general for payment systems at the European Central Bank.
China to be No.2 in payments
China could overtake the eurozone as the world's second biggest payments market early next decade, according to a new report.
Interview: Carlo Tresoldi
"Without intervention it will be difficult to meet the timescale of 2010 for migration to the new Single Euro Payments Area (SEPA) instruments," Carlo Tresoldi told Centralbanknews.com on Tuesday.
Trends in large-value payments
New research from the Federal Reserve Bank of New York identifies global trends in large-value payments.
Global factors have greater impact on EM inflows
The significance of global factors on the volatility of capital flows to emerging countries have increased in recent years relative to country-specific factors, a new paper from the Bank of Spain finds.
Tumpel-Gugerell on SEPA for cards
Once SEPA for credit transfers and direct debits are in place, the European Payments Council will devote its full energy on to a harmonised and integrated cards market, said Gertrude Tumpel-Gugerell, a member of the executive board of the European…