Financial Stability
Malaysia's Mahathir: Islamic finance must not follow western banking model
Malaysia's former prime minister Mahathir calls for more regulation of banking sector and repudiates western model on banking
ADB's Kuroda pushes agenda for economic integration in Asia
Asian Development Bank president Kuroda hails Asian rebound but calls for commitment on wider integration of region
European rating agency could break the hold of 'big three': Barnier
European commissioner Michel Barnier moots a continental ratings agency to introduce diversity, comments follow criticism of ratings agencies from European finance minister
ECB breaks equal-treatment pledge and accepts Greek junk bonds
European Central Bank suspends minimum credit rating on Greek government debt, breaking its commitment to universal collateral rules
Lower growth a price worth paying for strong banks: Wellink
Basel Committee chairman Nout Wellink says potential drop in growth not too high a price for more robust banking system; secretary-general Stefan Walter says regulatory requirements still too soft
Uganda gives banknotes a facelift
Bank of Uganda introduces a new denomination and upgrades five existing bills with new security feature, Tumusiime-Mutebile emphasises that the issue is not politically motivated
Trichet: economic, not monetary, reform of EMU necessary
ECB president Jean-Claude Trichet calls for broader economic reforms to mend Europe’s Economic Monetary Union (EMU)
SNB’s Hildebrand: too-big-to fail could wipe out country
Swiss National Bank chairman Philipp Hildebrand calls for hasty resolution to too-big-to-fail in Switzerland
Dallas Fed - Annual Report 2009
Dallas Fed report for 2009 looks at causes of financial crisis and outlines shape of new policy
ECB’s Tumpel-Gugerell on e-invoicing
European Central Bank executive board member discusses pan European e-invoicing system
Capital ratio hikes 'not appropriate' for South Africa
South African Reserve Bank says lenders already hold more than necessary and further hikes will only hit profits; deputy governor Guma flags work on macroprudential framework
Buba’s Weber chastises 'counterproductive' stalling on Greece
Bundesbank president Axel Weber calls for swift action to move forward as Standard & Poor’s downgrades Spain in further sign that Greek crisis is spilling over to neighbouring countries
US senators finally agree to reform debate
Having blocked discussions from Monday to Wednesday, Republican senators agree to let disputed regulatory reform bill be debated
ECB’s Trichet: voices opinion on fiscal goals in Europe
ECB president Trichet calls for concerted effort from European finance ministers to rebuild confidence in markets
IMF: Chile’s financial system resilient to global crisis
IMF paper shows little impact of global financial crisis on Chilean banks
Italy’s Saccomanni calls for new exchange-rate regime framework
Bank of Italy director general Saccomanni calls for standardisation of exchange-rate policies to reduce imbalances in global economy
S&P’s Greek downgrade puts collateral issue back on agenda at ECB
Standard & Poor’s downgrades Greece’s debt to junk, the implications mean collateral would be ineligible at the European Central Bank if Moody’s and Fitch followed suit
Republicans propose end to Fed's quasi-fiscal activity
Senate Republicans leak alternative regulatory proposals calling for an end to Fed’s involvement in shoring up broad sectors, central bank cannot lend to firms with solvency problems under plans
RBI’s Chakrabarty sets out ten commandments for IT
Reserve Bank of India deputy governor outlines ten best practices to enhance the value of IT security in the banking sector
IMF’s Shinohara warns EME dominance may lead to imbalance in growth
IMF deputy director Shinohara indicates global imbalances may result from an uneven distribution of growth
Trichet to rally German support for Greek bailout
European Central Bank president Jean-Claude Trichet expected to urge German lawmakers to stop dragging their feet over the Greek bailout, markets suffer as uncertainty persists
Fed advice cited in Senate vote against reform bill
Regulatory reform bill falls short of votes required for debate, Republican senator cites message from Fed staff criticising last-minute derivatives provisions
Subbarao moots Tobin tax to curb capital inflows
Reserve Bank of India governor Duvvuri Subbarao says all options on the table as it attempts to act on investment influx
Portuguese rating takes double-notch beating
Standard & Poor’s downgrades long-term rating to A- and short-term rating to A-2 on concerns over deteriorating macroeconomic environment, credit default spreads stretch further