Federal Reserve System
Competition found to impact bank risk
Banking stability may be undermined by competition, according to research published today by the San Francisco Fed.
September's cut has helped markets, says Bernanke
Ben Bernanke, the chairman of the Federal Reserve, said that September's 50-basis point cut has alleviated the credit crunch.
Relationships help for IPO performance
Investors prefer initial public offerings (IPOs) managed by relationship banks than similar ones managed by outside banks, according to research by the Chicago Federal Reserve.
Bernanke and Kohn commend monetary policy pioneer
Ben Bernanke, the chairman of the Federal Reserve, and Donald Kohn, the Fed's vice chairman, praised John Taylor, a professor at Stanford University, for his contribution to monetary policy.
Kroszner on the role of the Fed
Randall Kroszner, a member of the Federal Reserve's Board of Governors, listed the central bank's responsibilities with regard to monetary policy, supervision and consumer protection in a speech on Thursday.
Fed unanimously supported 50 basis point cut
All ten members of rate-setting Federal Open Market Committee (FOMC) were in favour of 50 basis point cut, the minutes of the 18 September meeting reveal.
King names lessons learned from crisis
Mervyn King, the governor of the Bank of England, said on Tuesday he had identified three lessons, so far, from the banking crisis.
Sales remain within Gold Agreement Limit
Gold sales by the 16 signatories to the Central Bank Gold Agreement between 27 September 2006 and 26 September 2007 amounted to 475.75 tonnes, 24.25 tonnes shy of the 500 limit, the Bank for International Settlements said on Wednesday.
Maintaining growth motivated cut - Fed's Kohn
A 50 basis point cut was necessary to keep the economy on a sustainable growth pace, said Donald Kohn, the vice chairman of the Federal Reserve.
US asks if it is losing its productivity advantage
Strong labour productivity growth in China and India may force some US firms out of business, but will also benefit the world's largest economy.
Fed to stay short of two governors
Senate Banking Committee chairman Chris Dodd has no plans to move three pending nominations to the Federal Reserve Board through his committee and onto the Senate floor, he said on 3 October.
US needs global payments standards, says industry
Should the US adopt international standards in its domestic payment systems? Surprisingly, "yes" was the overwhelming answer at a packed Sibos, Nick Carver, editor of SPEED, writes from Boston.
Bernanke schedule reveals markets' influence
Details of the diary of Ben Bernanke, the chairman of the Federal Reserve, show the extent to which Wall Street executives, along with money managers and cabinet officials, played a role in his policy about-turn on 17 August.
We're not out of this yet - Greenspan
Despite a "creep back to normality" in the asset-backed commercial paper and inter-bank markets, Alan Greenspan, the former governor of the Federal Reserve, cautioned that the recent turmoil could have further repercussions.
A beginner's guide to the Phillips Curve
The Richmond branch of the Federal Reserve has published an introduction to the Phillips curve, a graph which underpins the relationship between unemployment and inflation.
Policy works in spite of globalisation - Mishkin
Globalisation has the power to impact inflation but, in reality, it seems to have little effect, said Frederic Mishkin, a member of the board of the Federal Reserve.
Injections were the right response - OECD chief
Central banks were correct to inject liquidity into the banking system in order to deal with the turmoil in global money markets, said Angel Gurria, the secretary general of the Organisation for Economic Cooperation and Development.
Subprime was trigger not cause: Fed's Warsh
Kevin Warsh, a governor of the Federal Reserve, said on Friday that the subprime crisis sparked, rather than produced, the recent bout of money-market turmoil.
Kohn defends Fed against moral hazard claims
Donald Kohn, the vice-chairman of the Federal Reserve, defended the Federal Reserve against claims that its monetary policy feeds moral hazard because its responses to booms and busts in asset prices are asymmetrical.
Fed unveils new $5 bill
The Federal Reserve, the American central bank, today unveiled a new, more secure design for the $5 banknote that will be issued and enter circulation in early 2008. A new $100 bill will follow.
New assurances from Bernanke and Paulson
Ben Bernanke, chairman of the Federal Reserve, told the American Congress today that "significant market stress" had been caused by the credit crisis, but reiterated his assurances that regulators would move to curb fallout from the subprime mortgage…
Dollar drops to record lows against the euro
The dollar fell today to record lows through the $1.40 level against the euro. The American currency continued its slide after the Fed cut interest rates by 50 basis points earlier this week.
Volcker critical of World Bank integrity unit
Paul Volcker, a former chairman of the Federal Reserve, has lambasted the World Bank's governance and anti-corruption strategy.
Japan safe from subprime threat
The Bank of Japan said on Tuesday that the country's financial institutions were unlikely to be drastically affected by the subprime crisis in the US.