Financial Stability
No more bailouts under Dodd-Frank: FDIC’s Bair
Federal Deposit Insurance Corporation chair Sheila Bair says Dodd-Frank Act ensures taxpayer will no longer bear cost of bank failures
Bernanke on progress of Dodd-Frank reforms
Federal Reserve chairman Ben Bernanke outlines Dodd Frank reforms in financial stability area
The collateral squeeze of 2008
William Allen and Richhild Moessner analyse data from US commercial banks and Morgan Stanley in the months surrounding Lehman Brothers’ collapse
Rebalancing growth in Asia: IMF paper
Fund study examines case for rebalancing growth in Asia through investment-oriented policies
Bank of Finland paper on boom and bust
Bank of Finland proposes model to measure financial frictions in the Finnish economy
UK Treasury fleshes out new regulatory set-up
UK Treasury details powers of the new macroprudential body; rebrands Consumer Protection and Markets Authority to reflect underlying purpose
ECB overnight lending rockets to 19-month high
Banks’ borrowing from the European Central Bank’s marginal lending facility climbs to $21 billion on Wednesday; sudden move has sparked speculation on bank troubles, analysts say
Fed’s Kohn appointed to Bank’s FPC
UK government names four external members to interim Financial Policy Committee; former Fed vice-chair Donald Kohn among three ex-central bankers appointed to macroprudential body
Dallas Fed paper on SNB crisis measures
Dallas Federal Reserve case study on success of Swiss National Bank liquidity provisions to foreign banks
Without better data, we risk a repeat of the crisis
More analysis of the nature of cross-border financial flows and a global risk map are essential in countering systemic threats, Bernd Braasch argues
Draghi strikes familiar chord on eurozone’s future
Bank of Italy governor Mario Draghi stresses importance of fiscal discipline, says monetary union is sound
HKMA plans launch of new HK$500 note
Hong Kong Monetary Authority says banknote will enter circulation next week
Basel surveys literature on links between finance and real economy
Basel Committee on Banking Supervision’s Research Task Force identifies three transmission channels between financial sector and real economy
NY Fed: consumer debt declines
New York Federal Reserve February 2011 Quarterly Report on Household Debt and Credit shows aggregate consumer debt declined in fourth quarter of 2010
ECB’s Bini Smaghi on causes of euro-area imbalances
European Central Bank executive board member Lorenzo Bini Smaghi says lack of labour and product market reforms created imbalances in euro area
Fed’s Tarullo outlines OTC derivatives reform agenda
Federal Reserve governor Daniel Tarullo stresses importance of central counterparties, close scrutiny of market participants
Reserve Bank of India Bulletin (February 2011)
Reserve Bank of India monthly bulletin says current account deficit widened in third quarter of 2010 due to decline in terms of trade
Public perception of economy gloomy: BoJ survey
Bank of Japan 44th opinion survey on the general public's views and behaviour shows public believe economic conditions are worsening
Credit card transactions rise: HKMA lending survey
Results of Hong Kong Monetary Authority Fourth Quarter 2010 Credit Card Lending Survey show increase in credit card transactions
Buba paper covers US drivers of imbalances
Bundesbank study says household and firm behaviour can explain why decline in US productivity was a driver of global imbalances
Spanish banks’ ECB reliance drops
Spanish banks’ borrowing from European Central Bank declines just over 20% compared to December
Bond purchase frictions convinced Weber to drop out of ECB race
Bundesbank's Axel Weber says divergent views on ECB’s bond purchases meant he was no longer an acceptable candidate to succeed Trichet; stresses he was right to stick to his guns
Czech National Bank - Inflation Report (Q1 2011)
Czech National Bank Inflation Report for January forecasts growth to slow in 2011 due to fiscal retrenchment