Financial Stability
Central banks criticised for communication failure
The world's most powerful central banks were inconsistent in their communication and lacked coordination during the summer's market turmoil, Richard Portes, one of the authors of an influential report on international financial stability, said on Monday.
We will survive US snub: Iran's Mazaheri
Tahmasb Mazaheri, the governor of the Central Bank of Iran, has said the country's banks can weather the impact of United States-imposed sanctions. Mazaheri's comments come as Angela Merkel, Germany's chancellor, said she would back more sanctions on the…
Stability needs reliable systems: BoE's Jenkinson
The resilience of wholesale payment, clearing and settlement systems to both operational and financial shocks remains a key requirement of financial and monetary stability, says Nigel Jenkinson, the executive director responsible for financial stability…
Ghana's new banking system up-and-running
The Bank of Ghana has gone live with a new banking system that will integrate all of the central bank's core operations.
Small business success vital for US: Mishkin
The health of the United States economy is partly reliant on small businesses still having access to credit on competitive terms, according to Frederic Mishkin, a governor at the Federal Reserve.
We can escape capital flight loop: Kenya's Ndung'u
Sub-Saharan African countries can escape the "infinite loop" of external indebtedness, corruption and capital flight, according to Njuguna Ndung'u, the governor of the Central Bank of Kenya.
New Zealand economy stable despite turmoil
New Zealand's financial system remains sound in spite of the recent global banking crisis, the Reserve Bank of New Zealand said on Wednesday.
Global interdependence requires caution: Mboweni
The interdependence of the global financial system could mean that financial instability affects countries that are not directly involved in the actions that have led to the volatility, according to Tito Mboweni, the governor of the South African Reserve…
UK will come out of this stronger: King
Britain will have the best regulatory regime in the world by mid-2008 as a result of the Northern Rock crisis, according to Mervyn King, the governor of the Bank of England.
Avoid absorbing default losses, central banks told
Central banks should beware of injecting funds aimed at absorbing losses associated with defaults to provide risk sharing, according to research published by the Bank of Canada.
New payments model needed, says RBI
The Reserve Bank of India (RBI) has suggested that a change in its regulatory regime, allowing migration to a new payments model featuring the use of mobile phones and pre-paid cards, could soon be under way.
Zeti on financial stability challenges
In this speech, Dr Zeti Akhtar Aziz, the governor of Bank Negara Malaysia, says that as the international and domestic financial landscape continues to transform, the quest to secure financial stability has become increasingly challenging.
SARB - Financial Stability Report, September 2007
The South African Reserve Bank published the latest edition of its Financial Stability Report in September.
Bollard confounds his critics
Mansoor Mohi-uddin suggests the Reserve Bank of New Zealand’s controversial intervention in the foreign exchange market earlier this year has paid off
Risky business
Avinash Persaud argues that the crisis was largely caused by the risk-transfer models championed by the investment banks, credit rating agencies and regulators
Information crunch: a 21st century crisis
Central banks have in general conducted themselves well in the current crisis, but should have acted earlier. Now they have to help overcome the prevailing “information crunch”, says Marco Annunziata
Prospects for an inflation-targeting Fed
John H. Wood argues that legislative hurdles make a move to inflation targeting by the Fed unlikely. But, he says, the issue is a red herring
The emerging Bernanke Fed
Central bankers earn their keep in times of crisis, and the recent credit turmoil has revealed much about how the emerging Bernanke Fed operates when it matters most, argues assistant editor Malan Rietveld
Clipping central bankers’ wings
Willem Buiter argues that central banks should “stick to their knitting” and become minimalist monetary authorities