Financial Stability
Bank of Japan – Monthly Report of Recent Economic and Financial Developments (July 2010)
Bank of Japan report shows boost in export growth was undermined by chronic deflation problems
HKMA unveils design of two new banknotes
The Hong Kong Monetary Authority says improved security features on new banknotes will reduce counterfeits in circulation
ECB identifies dark side of wholesale funding
European Central Bank study finds that despite benefits of wholesale funding, liquidity scares can cause instability to banks that are uninformed of potential risks
Fed better prepared than us for financial crisis: ECB paper
European Central Bank study shows stronger emphasis towards output allowed the Fed to react faster than Frankfurt to financial crisis
Central Bank of Ireland – Payment and Securities Settlements System Infrastructure Report (July 2010)
Irish central bank’s report on payments and settlements shows country is behind Europe in transition to electronic payments systems
Volcker should chair FSoc
Aspects of the Dodd-Frank Act are welcome but crises will continue to be mismanaged, Robert Pringle writes.
Euro counterfeits fall by 13%
ECB statistics show 387,000 forged euro banknotes recovered in first half of 2010; €50 note overtakes €20 as most popular bill to fake
HKMA, PBoC agree to expand renminbi business
New agreement will enable banks in the territory to establish renminbi accounts for financial institutions
East Asian, Pacific governors set for 15th annual meeting
Executives’ Meeting of East Asia and Pacific Central Banks gears up for 15th outing in Sydney; regional currency and financial stability issues to dominate agenda
EU’s Barnier: paradigm shift in regulating OTC derivatives
European Commission commissioner for internal market and services Michel Barnier says concept of light touch regulation is history
Fed is the main winner from Dodd-Frank bill: Meyer
Former Federal Reserve governor Laurence Meyer says the central bank has gained powers it wanted and shed responsibilities it did not, despite initial anti-Fed sentiment among lawmakers
Wellink: OTC markets still need good risk management systems
Basel Committee chairman Nout Wellink warns central clearing house not a silver bullet for over-the-counter derivatives markets
Credit boom overlooked due to silo culture in credit markets
Financial Times journalist says informational barriers between credit specialists and regulators meant credit markets were poorly managed pre-crisis
Thailand’s Watanagase calls for greater economic resilience
Bank of Thailand governor Tarisa Watanagase proposes measures to bolster economy from impact of external and domestic shocks
India approves new currency symbol
Indian government picks symbol for rupee after nationwide contest; says country’s growth and arrival on the international economic stage merit symbol
FOMC faces tricky task in avoiding another bubble
FOMC officials’ pessimism about conditions highlights challenge central bank faces in fulfilling its dual mandate
Basel Committee counter-cyclical proposals tie buffers to economic indicators
Committee publishes paper on counter-cyclical capital and defers recommendations on Basel III to oversight board meeting on July 26
Dodd-Frank passes but leaves questions unanswered
Financial reform legislation passes in the US Senate, as focus turns to the complex issue of implementation
RBI's Gopinath says regulation key in OTC reforms
Reserve Bank of India deputy governor Shyamala Gopinath discusses challenging process of calibrating India's over-the-counter derivatives markets
Central bank auctions reveal banks' liquidity risks
BIS study says aggressive bidding in central bank auctions good indication of liquidity risks at banks
Spanish banks' reliance on ECB rockets again
Bank of Spain data shows the country’s lenders borrowed 48% more from the European Central Bank in June than in May; figures renew worry on sector’s health, but government remains adamant
Analysts dub IMF commitments to Asia redundant
IMF makes strides to repair relationship with Asian region through series of commitments, analysts say move lacks substance
Tough capital rules will not stunt growth: Bank's Miles
Bank of England rate-setter David Miles roundly dismisses industry argument that harsher capital standards will choke off growth
Hong Kong investors claw back more Lehman losses
Hong Kong unit of DBS bank will pay just under $84m in compensation to holders of Lehman-linked credit notes; settlement follows on from agreement on minibonds