Financial Stability
Unconventional policy affects both sides of balance sheets
Bank of Japan looks at the size and composition of its balance sheet during its quantitative-easing period
Real economy and fiscal credibility crucial: Trichet
ECB chief says financial sector must put the real economy at the centre of its objectives, while governments have to cut spending to keep credibility
Journal of Economic Review – Riksbank
Riksbank’s third-quarter journal contains articles on the similarities between fiscal and monetary policy, and Swedish money-market premiums
North Korea drastically revalues currency
Reports say that the country has slashed two noughts off its currency; imposes a cap on exchanges into new money
RBNZ, stock exchange moot possible payments team-up
Reserve Bank of New Zealand confirms talks with NZX to collaborate on clearing and settlement system
BoE’s Posen wants housing “stabilisers” to control bubbles
Monetary Policy Committee’s Adam Posen calls for existing taxes to work as automatic stabilisers for house prices; argues against leaning against the wind with rates
Fed tiptoes further towards exit
New York Federal Reserve says it will make small-scale reverse repurchase operations in order to test strand of exit strategy
BuBa focused on cutting cash-processing costs: Fabritius
Bundesbank’s Hans Fabritius says central bank working on outsourcing cash processing
Fiscal stimulus crucial for recovery
Centre for Economic Policy Research (CEPR) compares the Great Depression with the global credit crisis
UAE backs banks as Dubai fears spark local sell-off
Commentators praise pre-emptive move on back of uncertainty in global markets following fears of Dubai World default
BoE’s Bailey: Europe to work on resolution regimes
Bank of England’s Andrew Bailey says missing piece in UK’s resolution regime is how to deal with cross-border banks
Europe to set Sepa migration regulation: Tumpel-Gugerell
European Central Bank’s Gertrude Tumpel-Gugerell says Sepa needs migration date
Narrow banking not the answer: RBI’s Subbarao
RBI governor dismisses breaking up banks as solution to financial-sector problems; argues for macroprudential policy measures to tackle interconnectedness
“We never had subprime issues”: Australia’s Debelle
RBA deputy governor Guy Debelle says credit will return as confidence re-emerges
SNB’s Hildebrand: regulators must stay focused on change
Swiss National Bank's Philipp Hildebrand says as economic situation improves regulators should beware of complacency
Bank of Canada – Autumn Review
Bank of Canada publishes the latest issue of its economic review
IMF to Hong Kong: beware of bubbles
International Monetary Fund looks at the potential macroeconomic implications for Hong Kong of accommodative monetary policy in the United States
Mauritius’ Bheenick: we must save more
Bank of Mauritius’ Rundheersing Bheenick says domestic economy saves too little
Canada’s Carney criticises Chinese exchange regime
Bank of Canada governor says it could foster protectionism and thwart growth
Bank bailed out two British lenders in secret
Bank of England says it provided lender-of-last-resort support to Royal Bank of Scotland and Halifax Bank of Scotland in October 2008; reveals extent to which two lenders teetered
Bank pushes for corporate-debt expansion
Senior Bank of England officials want greater role for debt markets to enable smaller companies to bypass banks for funds
Trade groups join forces to boost SEPA mobile payments
Mobey Forum and European Payments Council to cooperate in bid to increase use of mobile payments
Take time to revise international financial architecture
Central Bank of Argentina believes reform of international financial architecture can wait until crisis abates
UAE’s banks liquid since April: Al-Suwaidi
Central Bank of United Arab Emirates’ Sultan Bin Nasser Al-Suwaidi describes measure that helped the country to weather spillovers from turmoil