Financial Stability
G20 pledges to tackle imbalances
Global imbalances take precedence over regulation in regulation in communiqué
Bank publishes payments oversight rules
Bank of England extends Core Principles in checklist for how payments systems should be run post-crisis
Volcker: narrower role would make Fed too detached
Paul Volcker says removing supervision from Fed’s ambit would risk turning central bank into “academic seminar”
IMF should move to Europe: ex research head
Simon Johnson suggests switching headquarters to Europe as means to break deadlock on quotas
Interventions helped creditors not shareholders
Bank for International Settlements reviews market reaction to bank rescue packages during the crisis
Buba’s Zeitler: regulatory capital a key issue
Bundesbank’s Franz-Christoph Zeitler commends capital measures but warns implementation should not occur until after the crisis is at an end
Risk role presents new challenge: ECB’s Bini Smaghi
European Central Bank’s Lorenzo Bini Smaghi notes issuing risk warnings will mark a departure in central banks’ usual practice of targeting the middle ground
Central banks to extend dollar swaps past October
Bank of Japan, European Central Bank, Bank of England and Swiss National Bank provide schedule for dollar operations into 2010
RBA – Financial Stability Review September
Sentiment among Australian households and businesses has improved considerably says the Reserve Bank of Australia in its latest Financial Stability Review
Canada calls time on emergency operations
Bank of Canada to unwind two crisis-fighting operations in October on signs of recovery
Credit measurement in a changing world
Reserve Bank of Australia presents its approach to measuring credit and non-intermediated debt flows
Indonesia’s Rochadi: cooperate to fight fakes
Bank Indonesia’s Budi Rochadi says central banks need to exchange knowledge to keep up with counterfeiters
Move beyond price stability: IMF to central banks
Monetary policy not to blame for crisis but International Monetary Fund argues bubbles possible to predict
British PM says Tobin tax worth a look
Controversial tax mooted by Britain’s head regulator worth consideration, says Gordon Brown, though problems with tax havens must be solved first
SARB investigated stress testing: Mboweni
South African Reserve Bank’s Tito Mboweni says the central bank looked closely on stress-testing methods used by banks and the central bank
Australian funds hedge half their foreign assets
Reserve Bank of Australia investigates the level of currency hedging by domestic managed funds
One credit register for Europe: Buba’s Zeitler
Bundesbank’s Franz-Christoph Zeitler says Europe needs a unified credit register
Czech’s Tuma: links with stats office key
Czech National Bank’s Zdenek Tuma says central banks and national statistical offices must maintain good cooperative relations
Leaning against the wind not enough: Chile’s De Gregorio
Governor of Central Bank of Chile cites collision between financial and price stability objectives as reason why interest rates cannot be used to burst bubbles
US Treasury ends money market guarantee
The program served its purposes of fomenting stability, and is being retired as the risk of a meltdown has passed, says Treasury secretary Geithner
French banks resilient in crisis but hurdles remain
French banks have weathered the crisis through a diversified model and well-managed risk but many challenges remain, argues research published by the International Monetary Fund
Ireland to spend €77 billion on bad banks
Ireland’s finance minister Brian Lenihan says funds will be split between five institutions
Fed’s Hoenig outlines resolution schema for too-big-to-fail
Kansas City Federal Reserve’s Thomas Hoenig and two economists prepare legal process for failure
Fiscal measures must be taken off central banks’ books: IMF
International Monetary Fund’s executive board wants all quasi-fiscal activity to be moved onto government balance sheets