Financial Stability
Germans in favour of kicking Greece out: poll
Survey in leading newspaper shows 53% of Germans think Greece should be kicked out of the eurozone if its debt troubles cannot be resolved, 67% want no part in a bail-out
ECB beefs up financial stability wing
European Central Bank readies itself for the establishment of European Systemic Risk Board; appoints director general
FSA’s Turner queries faith in deep and liquid markets
Britain’s top regulator calls for a conservative approach to liquidity, arguing that excessive financial activity is liable to do more damage than good
Riksbank’s Nyberg: cards systemically important
Riksbank’s Lars Nyber says cards are overtaking cash in Nordic countries, but security still an issue
British regulator asks for 10% more funds
Financial Services Authority puts bulk of responsibility to pay up on the bigger banks
British PM heralds global bank levy
British prime minister Gordon Brown flags growing consensus among leaders on a global bank tax following Obama proposals
India’s Gokarn rules out March hikes
Reserve Bank of India’s Subir Gokarn emphasises that, barring extraordinary circumstances, the central bank will not raise rates before April; central bank cracks down on PayPal
Community banks remain crucial for US economy
Chicago Federal Reserve summarises its conference on the impact of the financial crisis on community banks
Ex-Bank deputy wants shift in monetary policy remit
Former Bank of England deputy governor and Financial Services Authority chairman Howard Davies calls for central banks to broaden ambit of monetary policy; insists supervision best handled outside the central bank
Kenya gets first credit-reference bureau
Central bank governor Njuguna Ndung’u says credit bureaux will increase the availability and lower the cost of loans for borrowers
BIS’s Caruana: central banks up to stability task
Bank for International Settlements’ Jaime Caruana says crisis highlighted the prominent role central banks should have in financial stability policy
Fed’s Kohn: don’t underestimate interest-rate risk
Federal Reserve’s Don Kohn says it is crucial interest-rate risk does not undermine the safety and soundness of the most important lenders
Hungary to buy forint mortgage bonds to spur lending
Move by the National Bank of Hungary highlights concern over return to euro financing, seen as key cause of crisis
Towards a euro monetary fund
Daniel Gros and Thomas Meyer team up on fix aimed at stopping another Greece
Barbados’ Worrell: supervisors of the region unite
Central Bank of Barbados’ governor urges Caribbean supervisors to ramp up cooperation
Chile on the pros and cons of connectivity
Central Bank of Chile looks at how shocks are transmitted across markets and banking systems
Europe is losing the “war on cash”: report
ECB and European Commission efforts to promote cashless payments are having some effect, but people still prefer cash, report finds
Greece should go to IMF, not EU for aid: Issing
Former ECB chief economist advocates tough love from Washington, rejects Brussels bailout; position conflicts with senior EU bureaucrat
Fed’s independence in public’s interest: Bernanke
Ben Bernake says the Federal Reserve will work with Congress to ensure maximum transparency
Iceland’s government knew banks were in trouble: Wellink
Dutch central bank president Nout Wellink says his Icelandic counterparts had informed the government that the country’s banking sector was in trouble
US can go it alone on reforms: Volcker
Former Fed chairman Paul Volcker says international consensus on reform not necessary
RBI’s Gokarn doesn’t rule out capital controls
Reserve Bank of India’s Subir Gokarn says intervening in market to keep capital flows in check is an option
Cooperation key to EU stability: González-Páramo
European Central Bank’s José Manuel González-Páramo says EU institutions must share expertise and statistical information
New rules in pipeline for financial plumbing
Head of Basel-based CPSS says decade-old principles for payments, settlement and clearing must be updated and financial resource requirements sharpened