Financial Stability
Bangladesh’s Rahman welcomes remittance improvements
Bangladesh Bank governor Atiur Rahman says banks, microfinance companies and IT specialists should continue working together to increase access to finance
Bank begins consultation on note circulation
Bank of England in talks with commercial cash industry on proposal to better distribute lowest denomination note
Longworth praises Canada’s astute liquidity management
Bank of Canada deputy governor David Longworth says central bank has been thoughtful and measured, assuring markets that support is available but ensuring that it is only used in dire circumstances
Banks’ profits plunged 40%: Greece deputy
Bank of Greece deputy governor Eleni Dendrinou-Louri says profits fell more than 40%, accompanied by a disconcerting rise in trading income
Swiss stabfund losses wipe out UBS equity
Revaluation wipes more than $5.6 billion off the value of SNB’s toxic-asset portfolio
Stimulus is not the bulk of debt: Fund’s Lipsky
International Money Fund first deputy John Lipsky says underlying increases in spending and lower taxes from financial sector underpin the debt burden, rather than stimulus
Risks influencing loan rates: Bank of England paper
Bank’s external monetary policy unit research shows loan size is not the only variable affecting rates, says higher income individuals are treated better by lenders
Fed’s Fisher: break up the big banks
Dallas Federal Reserve’s president gets tough on those deemed too big to fail
Greece not looking to bond markets for now: debt chief
Greece’s new head of public debt management says the country will not rush to tap sovereign debt markets; austerity package with extra cuts sends yields plummeting
BIS on the origins of macroprudential
Bank for International Settlements research traces the etymology of macroprudential, noting that it has become a buzzword in the aftermath of the crisis
Merge G20 and IMF: Norway’s Gjedrem
Norges Bank governor Svein Gjedrem calls for the two bodies to be combined, and underpinned by principles that mean all countries, irrespective of size, have their voices heard
IMF should have come to emerging markets’ rescue: DSK
International Monetary Fund managing director Dominique Strauss-Kahn says it should have been the Fund, not the Fed and other central banks, which provided swap lines to emerging markets in the crisis
Bank of Japan – Financial Markets Report
Japanese central bank’s report says Dubai crisis shed light on sensitive investors still were, notes that while accommodative policies soothe some market players, others worry about flows to emerging markets
Singapore moots expanding deposit guarantees
Monetary Authority of Singapore proposes extending scope and limit of deposit protection as it nears exit from an emergency guarantee adopted at the height of the crisis
Bulgaria relaxes capital adequacy rules
Bulgarian National Bank announces adoption of further countercyclical capital measures, reducing risk weights on retail and real estate exposures by 25 and 15 percentage points
Fed is investigating Goldman, hedge funds: Bernanke
Federal Reserve chairman Ben Bernanke says the central bank is looking into cross-currency swaps carried out by Goldman Sachs alleged to have helped Greece hide the extent of its debt
Export recovery will lose speed: BoJ’s Yamaguchi
Bank of Japan deputy governor Hirohide Yamaguchi says pace of export and production recovery to slow, but economy will gain momentum in the summer
Central Bank of Ireland – Developments in Private Sector Credit
Irish central bank’s note shows private sector credit continued to shrink, and lending both to banks and non-banks dropped in the final quarter of 2009
Discount hike was to discourage reliance on Fed: Bernanke
Federal Reserve chairman Ben Bernanke reiterates the central bank’s stance that its recent discount rate hike was in no way a policy tightening, flags term deposit facility
Ex-Bank Indonesia head accused over bailout
Inquiry into bailout of Century Bank raises questions into Bank Indonesia’s handling of regulation; allies of president round on former central bank governor and finance minister
King on QE: we’ve filled a hole
Bank of England governor says pumping £200 billion into economy averted “very serious contraction” in money supply; flags concerns over eurozone’s stuttering recovery
Focus on fundamentals outperforms carry trades: IMF paper
International Monetary Fund paper finds that an investment strategy determined by analysis of the real effective exchange rate ultimately does better than one that relies on borrowing cheap and lending at higher rates
Rogoff predicts wave of sovereign defaults
Greece will not be the only country to face threat of bankruptcy, ex-IMF chief economist Kenneth Rogoff warns
Bank of England – Trends in Lending (February)
Bank report shows lending to businesses, home buyers and consumer remains constrained