Financial Stability
HK’s Tsang fears the Fed
Hong Kong’s chief executive says Federal Reserve is stoking next bubble through near-zero interest rates
ECB’s Tumpel-Gugerell on dangers of all roads leading to Rome
Gertrude Tumpel-Gugerell, an ECB executive board member, says the work of the European Systemic Risk Board would be crucial in future approach to financial stability
Evaluating economy-wide risk measurement tools
Bank of Canada paper acknowledges useful information exists on credit risk models, but argues further work is needed
Woodford unveils new model for transmission mechanism
New York Federal Reserve paper co-authored by Michael Woodford introduces a new model for monetary policy which considers the effects of unconventional policy
BuBa’s Weber: no global regulator without global law
Bundesbank’s Axel Weber says global financial regulator not a good idea as international law not in place
Rules must cover link between liquidity and default: Goodhart, Tsomocos
Interrelationship between liquidity and defaults must be addressed by regulatory proposals
ECB publishes inaugural payments oversight report
European Central Bank reports on robustness of payments systems to increase transparency and public understanding
Draghi calls for unity to back “major” changes
Financial Stability Board’s Mario Draghi says regulators from across the globe must co-operate to create a world in which no bank becomes too big to fail
Separating the casino from the retail bank will not work
A division between investment and retail banking will not prevent future financial crises, Clive Briault, the founder of Risk and Regulation Consulting and a former managing director at the Financial Services Authority, argues
Senator calls for Fed’s powers to be cut
Chris Dodd, head of the Senate Banking Committee, submits bill demanding reduction in Fed’s supervisory ambit; calls for one overall regulator
Multilaterals define systemic importance
Report suggests an initial framework that can be adapted by individual countries
Fed’s Tarullo warns against another Glass-Steagall
Fed governor Daniel Tarullo says split between investment and commercial banking would do little to abate too-big-to-fail problem
Morocco to cap reform with price target
Governor tells CentralBanking.com that Bank Al-Maghrib is preparing to adopt inflation target
Interview with Abdellatif Jouahri
The governor of Bank Al-Maghrib talks to CentralBanking.com about the success of the country’s financial reform efforts
Ex-RBI’s Reddy: roll back financial globalisation
Former governor of the Reserve Bank of India calls for creation of new Bretton Woods institution
Social contract needs a revamp
Bank of England’s Andrew Haldane finds that social contract between banks and the state needs to revised
RBA’s Lowe: approaches to financial stability vary
Reserve Bank of Australia’s Philip Lowe says there is no one-size-fits-all approach to financial resilience
Bagehot in the beginning
Norges Bank research charts the development of lender-of-last-resort support in the mid-19th century
Financial regulation needs unorthodoxy – Gopinath
Reserve Bank of India’s Shyamala Gopinath says financial regulatory framework needs to move away from orthodoxy
Pillar 3 crucial for bank safety
Bank of Finland examines the combined effect of the Pillar 1 minimum capital requirements and Pillar 3 disclosure requirements of Basel II on bank safety
Interview: Heng Swee Keat
In an exclusive interview, the managing director of the Monetary Authority of Singapore discusses the impact of the financial crisis and how monetary and regulatory policies will change as a result
UBS bailout a success so far: head of SNB rescue
Head of Swiss National Bank's stabilisation fund divulges details of UBS bailout, says central bank will take hold-to-maturity approach
Chiang Mai a complement, not substitute to IMF aid
Senior ASEAN official stresses that the regional reserve pool is not intended to replace support from other multilateral agencies
How global imbalances exacerbated the crisis
Riksbank's Barbro Wickman-Parak says imbalances contributed to the rise of complex instruments and structures