Counter-cyclical
ECB opines on Basel countercyclical buffer
Central bank cautions against mechanical application of credit-to-GDP ratio for calibration
Countercyclical measures key to stemming Indian inflows: Strauss-Kahn
IMF managing director Dominique Strauss-Kahn says adoption of countercyclical macroprudential measures eased capital inflows to India
Trichet: ESRB to review counter-cyclical capital buffers
European Central Bank president Jean-Claude Trichet says counter-cyclical capital buffers a good starting point for European Systemic Risk Board
Bundesbank: fiscal stimulus contractionary in long term
Bundesbank study shows lump sum debt financing has short-term economic benefits but long-term costs
More discord over Basel III countercyclical buffers
Basel Committee’s Peter Praet acknowledges disagreement; Charles Goodhart warns lack of consensus will stop central banks acting to stem financial imbalances
BoC: contingent capital must supplement counter-cyclical capital buffers
Bank of Canada study says contingent capital more effective in providing liquidity to banks in a crisis
BIS: Top-down approach to countercyclical capital buffers preferred
Bank for International Settlements paper on capital buffers says a bottom-up approach is more favourable to a top-down as bank specific factors neglect variable differences in capital structures of firms
Price stability rightly remains sole focus of monetary policy: IMF
Fund directors say macroprudential measures, rather than monetary policy tools, should deliver financial stability; propose measures including dynamic provisioning framework
Trichet: Reforms must keep an eye on financial markets
ECB president Jean-Claude Trichet outlines four main areas of reform in the financial sector where there is further room for improvements