Financial Stability
Bernanke: don’t lose sight of global imbalances
Fed chairman’s comments build on recent efforts by the International Monetary Fund to deal with instability of global monetary order
IMF’s Lipsky on lessons from past crises
IMF deputy managing director discusses what has been learnt from the crises, and how emerging markets have avoided the worst
Ireland hints at IMF intervention in bid to slash costs
Irish health minister Mary Harney suggests IMF will make drastic cuts if the government cannot rein expenditure in
Greenspan: too-big-to-fail didn’t exist until crunch
Former Federal Reserve chairman believed government would allow failure until government-sponsored enterprises were taken into conservatorship
No takers for Canada’s emergency operations
In a further sign that funding strains are easing, the Bank of Canada’s soon-to-be withdrawn emergency operations attract no bids
Trichet calls for fundamental financial-system change
European Central Bank president says industry needs to alter greatly in wake of crisis, says structural reforms necessary
Italy’s Visco on cross-border cooperation
In the wake of the global crisis, Bank of Italy’s Ignazio Visco examines barriers to cross-border collaboration between officials
Nigeria’s woe signals decoupling not in sight
International Monetary Fund finds developing and emerging markets did not decouple from the United States enough to grow despite significant recession in the world’s largest economy
Bank officials at odds over QE’s impact
Confidence of Bank of England’s executive director for markets appears to conflict with deputy governor’s ambivalence
De Larosière: don’t rush regulatory reform
Former governor of the Banque de France warns governments against rapid change for the finance industry
What makes up the macroprudential toolkit?
Practitioners and supervisors discuss how supervisory policy will be made
Public banks good for growth
Central Bank of Cyprus finds that government ownership of banks has been associated with better long-run growth performance
Turkey’s Yilmaz: Islamic finance a force for stability
Central Bank of Turkey’s Durmus Yilmaz says Islamic finance is not boom-bust driven
New Zealand begins exit from extraordinary measures
Reserve Bank of New Zealand cancels two facilities and amends others as financial-market stress eases
Swaps a success: SNB economists
Swiss National Bank researchers say swap agreements were highly effective low-cost solution to currency mismatches
Finland’s Liikanen pushes for Fund reform
Bank of Finaland’s Erkki Liikanen says quota reform only starting point for change at the International Monetary Fund
No way to tell if QE’s worked: BoE’s Bean
MPC will have to tighten gradually to avoid undershooting inflation target
Ireland’s Honohan: restore, not reinvent
Governor uses first speech to hark back to 2000 as benchmark for Irish economy
“Green shoots” of recovery must be handled gently
Durmus Yilmaz, governor of the Central Bank of Turkey, argues for a careful balance between fighting recession and expanding public debt
Lamfalussy godfather of BIS’s macroprudence
National Bank of Belgium paper shows Alexandre Lamfalussy as the originator of the macroprudential approach to stability
Spain must step carefully on the road to recovery
Bank of Spain’s Miguel Fernandez Ordonez says domestic economy and financial sector face challenges ahead
Dutch central bank takes over floundering DSB
The Netherlands Bank takes control of teetering domestic lender Dirk Scheringa Beheer after consortium talks fail; says it will guarantee deposits
Securitisation not to blame for the crisis: Fed’s Tarullo
Federal Reserve’s Daniel Tarullo also reiterates calls for an oversight council
Monitoring can prevent crisis
International Monetary Fund looks at role of uncertainty in contagion during a financial crisis