Financial Stability
Only the IMF can save Greece: Berlin
German government backs away from a European bailout for debt-ridden Greece, Fund rescue looks increasingly likely
Top-level Swiss committee to fix "too big to fail"
Liquidity and "too big to fail" will dominate agenda for Steering Committee bridging central bank and regulator’s boards, says FINMA’s Zuberbühler
Bank mulls widening collateral pool
Bank of England consults on taking “raw loans” at its discount window facility and calls for more transparency from counterparties, says the move will cement confidence in the financial system
US regulators issue liquidity guidelines
Federal Reserve and other regulators sign off framework for more stringent liquidity management
RBA: credit card reform in Australia
Reserve Bank of Australia‘s assistant governor discusses the challenges regulators face in the market for credit card payments
Washington makes play to name NY Fed chief
Senate banking committee’s reform bill calls for greater accountability in Liberty Street, pares Fed’s supervisory role to large banks alone
Major economies must heed Greece lesson: Carmen Reinhart
Co-author of This Time is Different warns sovereigns on debt sustainability
Ireland’s Elderfield: Consumer comes first
Matthew Elderfield discusses the lessons learnt from the financial crisis, and how new regulations will place the consumer interests before the banks
SNB, Finma set up stability steering group
Central bank and regulator intensify their collaboration on financial stability
European monetary fund won't pay
Marco Annunziata, the chief economist at UniCredit, argues against the creation of a European monetary fund
Caribbean learns from crisis: T&T’s Williams
Ewart Williams discusses the need for greater cooperation between central banks in the region in reducing the risk of financial crises
Senators table Volcker rule legislation
Bill would ban prop trading for large banks and impose limits for big non-banks
Buba’s Weber dismisses Volcker rule
Bundesbank president Axel Weber says Paul Volcker’s plan will have unanticipated effects and interfere with monetary policy transmission, says sticking with Basel II is best
Trichet keeps open mind on European Fund
European Central Bank president Jean-Claude Trichet says more details must emerge before making a firm decision for or against a European monetary fund
The US banking practices falling behind
Boston Fed study urges US to invest more in payments technology to cope with the demands of the digital age
SNB reveals Stabfund portfolio
Swiss National Bank says Stabilisation Fund holds about 4,800 positions in five currencies, bulk of assets backed by real estate
Kansas Fed heralds more stable banking sector
Stress indicator for financial sector shows further decline in February, moving it closer to its long run average
A welcome return to money
Central banks’ renewed in interest in the importance of money is to be applauded. But they must also consider the right money measure and how changes should impact policy, Gabriel Stein argues
China to drop dollar peg “sooner or later”: Zhou
Chinese central bank chief Zhou Xiaochuan hints the country will soon remove the dollar peg on its currency, analysts see a slow and steady revaluation rather than large one-off move
DSK on Africa’s economic transformation
International Monetary Fund managing director Dominique Strauss-Kahn describes the Road Ahead for Africa at the Kenya International Conference Centre in Nairobi
Brussels and Paris push for European monetary fund
Finance ministries of France and Germany begin devising proposals for Europe’s own Fund, body would be geared at removing bailout security net as well as providing help to euro countries
Gudmundsson confident of Icesave deal despite country’s ‘no’ vote
Icelandic central bank governor Már Gudmundsson says a resolution will be reached with British and Dutch governments soon despite massive wave of public opposition to the plan
Canada to switch to polymer
Bank of Canada to issue plastic notes in 2011
Hildebrand, Weber condemn calls for higher inflation targets
Swiss and German central bank heads label IMF chief economist’s argument “seriously flawed”; deem timing “highly unfortunate”