Financial Stability
Top economists call for central banks to oversee financial stability
Leading thinkers including former Federal Reserve Board governor Frederic Mishkin say central banks should watch financial stability; set of crisis prevention proposals include limits on bankers’ pay
Spanish banks’ reliance on ECB hits record levels
Data published by Spain’s central bank shows the country’s banks exhibiting an increasing level of dependence on the eurosystem, officials dismiss talk of bailout
Markets unfazed by Moody’s Greek walloping
Bulk of European bourses gain despite rating agency’s four notch downgrade of Greek sovereign debt; analysts link calm to tardiness of downgrade and renewed risk appetite
Bank’s Posen stoutly defends ECB bond purchases
Bank of England rate-setter Adam Posen slams critics who claim bond purchases will impinge upon central bank’s independence; says given low interest rates, bond purchases are essential monetary policy tool
Bank of Portugal: calendar effects valuable data source for ATM patterns
A Bank of Portugal study on ATMs finds calendar effects provide useful understanding of consumer habits when undertaking cash withdrawls
RBA’s Battellino: banking sector key to funding deficit
Reserve Bank of Australia deputy governor Ric Battellino says banks play key role in intermediating funding to economy
HKMA flags potential for asset-price bubble from renminbi appreciation
Hong Kong Monetary Authority study suggests currency’s appreciation may have significant effects on asset prices
Watch funding gaps, BIS warns Europe
European banks still have significant dollar funding gaps, leaving them vulnerable to foreign exchange shifts
Bank of England - Quarterly Bulletin (Q2 2010)
Bank's Quarterly Bulletin says yields on UK gilts fell in the last quarter due to lower expected future interest rates
US must clarify degree of Basel III implementation: Bini Smaghi
ECB executive board member Lorenzo Bini Smaghi says US needs to clarify its implementation of Basel III proposals
External debt could prove perilous: NZ’s Bollard
Reserve Bank of New Zealand governor Alan Bollard cautions that the country faces external debt imbalances; calls for deficits to be slashed below 5% of GDP
IMF: central banks face unpopular choices in making up fiscal gap
An IMF study says central banks may come under pressure from governments to inflate their way out crisis
Korea's Kim joins push for update to central banks' mandates
Bank of Korea governor Kim Choong-soo calls for rethink on attachment to price stability; says central banks should be equally observant of financial stability
Bank of Italy economists propose fix for interbank stresses
Director of economic outlook and monetary policy department, and senior economist at Italian central bank say fix could alleviate liquidity strains
Market tensions prevail, Trichet warns
ECB president says financial sector still shows signs of stress despite the success of the central bank’s bond purchase program
Bernanke: US should not rely on safe haven status of dollar
Federal Reserve chairman Ben Bernanke said country should take measures to cut deficit despite unique role in global currency markets
NY Fed’s Sack on central banks’ role as liquidity providers
New York Fed markets chief Brian Sack says provision of liquidity to markets essential, but unconventional programs must be reviewed
Print more $2 bills, Taco Bell tells Fed
Marketing gimmick calls on customers to “appeal to” Fed to print more $2 notes
Asian economies not autonomous from Europe: IMF's Shinohara
Fund deputy managing director Naoyuki Shinohara touches on lessons from the crisis and how shocks in Europe reverberated in Asia
Boston Fed - Annual Report (2009)
Boston Federal Reserve's Annual Report shows economic difficulties persisted through last year
RBA's Stevens warns of high indebtedness in households sector
Reserve Bank of Australia governor Glenn Stevens discusses lessons from Europe's debt crisis
Irish CB “taking action” to fix flaws, says governor
Governor Patrick Honohan tells CentralBanking.com the institution is rectifying cultural and structural problems flagged by his report into central bank’s pre-crisis performance
Europe raring to go on CDS rules, bank taxes
Brussels praises the political dynamic behind move for tightened financial regulation as French president Nicolas Sarkozy and German chancellor Angela Merkel call on Commission to speed up work
Eurozone seals deal on bailout fund
European finance ministers come to agreement on bond guarantee facility to support continent's crisis-hit countries; bond markets reassured by move