Financial Stability
It's the forest stupid
Dodd Frank fails to deal with systemic risk, former chairman of the Federal Deposit Insurance Corporation William Issac argues
What Basel III means to us
The Basel Committee on Banking Supervision published the final text of Basel III on December 16, which introduces new minimum capital requirements, two liquidity ratios, a charge for credit value adjustment and a leverage ratio, among other things. Risk…
Sudan bans some imports as forex shortage looms
Bank of Sudan bans imports of luxury items, goods with local substitutes, to conserve foreign currency; currency wobbles on secession, oil fears
Stability objective should drive financial policy, says BoE’s Bailey
Bank's Bailey says stability goal must not be swayed by “murky compromises with other objectives”
PBoC’s Yi promotes Chinese-EU financial co-operation
People’s Bank of China deputy governor Yi Gang promotes benefits of financial co-operation between China and the European Union
NY Fed: US consumers ease debt burdens
New York Federal Reserve study measures scope of consumer indebtedness and impact of credit issuance
IMF in bid to strengthen governance of cross-border capital flows
IMF executive directors support greater Fund role in surveillance of cross-border capital flows and creation of rules for capital account policies
Renminbi liberalisation, price stability priorities: PBoC
People’s Bank of China says currency internationalisation, price stability top priorities for 2011, following annual meeting
Icelandic central bank, regulator ink deal to collaborate
Central Bank of Iceland and Financial Supervisory Authority sign landmark agreement to work together on oversight in areas including systemic risk
Public expectations of banking supervision unrealistic: Netherlands Bank study
The Netherlands Bank study says high public expectations of banking supervision can adversely impact financial stability
Irish central bank names advisers for stress test exercise
Central Bank of Ireland calls for BlackRock Solutions, Boston Consulting Group and Barclays Capital to assist in stress tests
Debt management poses greater refinancing risks: Netherlands Bank
The Netherlands Bank study says greater reliance on short-term debt requires better coordination between debt managers and central banks
Brussels sets the stage for senior debt haircuts
Internal markets directorate publishes consultation paper calling for senior bondholder haircuts in resolution regimes; analysts worry move could further disrupt funding for troubled banks
Haircut fears push up bank CDS prices
Spreads on the credit index for senior European financials widen as EU releases burden-sharing consultation paper
Brazil steps up efforts to ease real gains
Central Bank of Brazil raises reserve requirements on domestic banks' foreign exchange position in bid to halt real appreciation
IMF paper investigates financial integration in Asia
Fund study finds equity and debt markets within Asian countries remain considerably more integrated with countries outside the region than within
MBS purchase programme sent strong signal to mortgage market: Fed paper
Federal Reserve study says mortgage-backed security purchase programme had strong signalling effect on mortgage bond market
Bidder calls on De La Rue to reveal details of RBI relationship
Oberthur says firm should inform shareholders about recent business with Reserve Bank of India; claims paper scandal has "undermined" ability to win new contracts as a stand-alone firm
Hong Kong lawmakers to enforce mandatory CCP by the end of 2012
Hong Kong joins Japan in mandating central counterparty clearing for OTC derivatives with CCPs and a central repository expected to be set up in the coming months.
Israel’s Fischer on the meaning of macroprudential policy
Bank of Israel governor Stanley Fischer stresses importance of interconnections in interpreting the macroprudential mandate
Research commends Norges Bank’s stress tests
Group led by former Federal Reserve official says tests are highly innovative, economically sound and largely transparent
Forecasting ability fails to justify rating agencies’ power grab
Rating agencies forecasts “not particularly outstanding” during decades following the Great Depression, Bank for International Settlements paper finds
CentralBanking.com’s top ten stories of 2010
Regulatory change features heavily
BoE: Agents’ summary of business conditions (December 2010)
Bank survey shows strong export growth, rise in manufacturing and services activity; weak housing market, tough credit conditions for small firms