Financial Stability
Bernanke sees shoots of recovery
There are tentative signs that the sharp decline in economic activity may be slowing, said Ben Bernanke, the chairman of the Federal Reserve.
SA's Mminele on Southern Africa's goals
The Southern African Development Community's goal is to achieve a single currency and a regional central bank by 2018, said Daniel Mminele, an executive general manager of the South African Reserve Bank.
Blame technology for bankruptcies
Technological progress has a significant effect on the bankruptcy rate, a new paper from the Richmond Federal Reserve posits.
Poland seeks $20.5 billion IMF credit line
Poland on Tuesday became the second country to ask for access to the International Monetary Fund's (IMF) new credit lines, requesting $20.5 billion to buttress the country against the crisis.
Tarp to get new head, Goldman to repay funds
Reports emerged on Tuesday that the head of Fannie Mae would replace Bush-administration appointee Neel Kashkari as the overseer of the Troubled Asset Relief Program (Tarp). The news came after Goldman Sachs announced on Monday a $5 billion public…
Iceland's Oygard optimistic on recovery
Svein Oygard, the new governor of the Central Bank of Iceland, is confident that the country can become an exemplar of how to conduct a swift economic recovery.
Monies contain embedded options
The face values of all notes and coins contain embedded options, argues a new paper written by Espen Gaarder Haug and John Stevenson, two quantitative-finance analysts.
G20 working group: amend Bretton Woods governance
Emerging and developing economies should have greater voice and representation in Bretton Woods institutions, says a report from a working group prepared for the G20 London summit.
Crisis highlights shortfalls in UK payments: BoE
The financial crisis has uncovered uncertainties and knowledge gaps among market participants in the United Kingdom's payment and settlement infrastructure, the Bank of England said on Tuesday.
Bernanke: emergency aid will be repaid
The Federal Reserve's support facilities for specific institutions carry more risk than traditional central bank liquidity support, but we nevertheless expect to be fully repaid, said Ben Bernanke, the chairman of the central bank.
Bernanke, Dudley justify Talf
Ben Bernanke, the chairman of the Federal Reserve, and William Dudley, the president of the New York Fed, moved to temper fears among lawmakers that the central bank's Term Asset-Backed Securities Loan Facility (Talf) puts taxpayers' money at risk.
ECB's Bini Smaghi: central banks' teamwork unique
The level of trust and cooperation within the central-banking community has increased significantly during the crisis, said Lorenzo Bini Smaghi, a member of the European Central Bank's executive board.
Fisher hints at new anti-inflation tools for Fed
Richard Fisher, the president of the Dallas Federal Reserve, gave the clearest signal yet that the central bank will soon be handed new tools to counter the inflationary impact of its crisis-fighting measures.
Spain's Ordoez: politics is costly
Involving savings banks in the political debate makes it immensely difficult to find flexible and effective solutions, said Miguel Ordoez, the governor of the Bank of Spain.
G20 working group: global coordination key
International regulatory standards should be coordinated to ensure a common and coherent global framework, says a report from a working group prepared for the G20 London summit.
IMF: toxic-debt bill to hit $4 trillion - report
The International Monetary Fund (IMF) is allegedly set to release new forecasts showing the cost of writedowns could reach $4 trillion, a leading British newspaper has reported.
SDR injection inflationary, ECB's Stark warns
Jurgen Stark, a member of the European Central Bank's executive board, has panned the G20's decision to create $250 billion-worth of special drawing rights (SDRs).
Fed's Warsh: panic may have long-run impact
The panic that has marked the current financial and economic turmoil may also have long-run implications, said Kevin Warsh, a governor at the Federal Reserve.
Hong Kong's banks' have minimal liquidity risk
Despite a deterioration in liquidity conditions, default risks in the Hong Kong banking system are minimal, new research from the territory's central bank posits.
Fed sets up sterling, yen, euro, franc swap lines
The Federal Reserve will be able to provide sterling, euro, yen and Swiss franc liquidity to banks with American operations after agreeing swap lines with the relevant monetary authorities.
IMF: eastern EU states must adopt euro - report
The International Monetary Fund (IMF) is alleged to have advocated fast-track eurozone accession for eastern European countries grappling with high amounts of external debt.
SNB's Hildebrand: crisis demands overreaction
The risks associated with doing too little are far greater than those of doing too much, Philipp Hildebrand, the vice-chairman of the Swiss National Bank, has warned.
Intervene with care in credit markets: BoJ's Noda
In conducting outright purchases of credit-market instruments to facilitate corporate financing, it is important to strike a balance, said Tadao Noda, a member of the central bank's rate-setting board has said.
Fed right choice for stability role: KC's Hoenig
The Federal Reserve must fill the role of financial-stability regulator, said Thomas Hoenig, the president of the Kansas City Fed.