Financial crisis
RBA minutes note ‘fragile’ global picture
Reserve Bank of Australia board discussed “fragile” sentiment surrounding global economic recovery and slow domestic growth when making most recent monetary policy decision
Bank of Mauritius governor urges diversification
Rundheersing Bheenick says previous calls to find alternative markets fell on deaf ears; economy is operating below potential
Asia regional FSB discusses deleveraging in Europe
Financial Stability Board Regional Consultative Group for Asia focuses on problems arising due to deleveraging of European financial institutions; also share thoughts on recent FSB initiatives
Bank of Israel paper evaluates past monetary policy decisions
Discussion paper from the Bank of Israel investigates patterns in monetary policy decisions and their outcomes in the country
Praet describes the ECB’s role in the financial crisis
Member of the ECB executive board addresses Austrian central bank conference; echoes colleagues in stressing other routes to recovery must be pursued beyond emergency policy measures
Bernanke says stronger banks will lead to 'robust' economy
Fed chair outlines progress made by financial sector; says improved credit conditions will play a part in creating a robust economy in the US
Bank of Spain plays down bank nationalisation talk
Spanish central bank says customers and depositors of Banco Financiero y de Ahorros have "no cause for concern" as the possible use of public funds to stabilise the firm is discussed
IMF research examines links between governance and stress events
IMF working paper discusses correlation between quality of national governance and the likelihood of economic stress events
New deputy governor notes increasing Swedish economic dependency
Kerstin af Jochnick describes points of importance relating to monetary policy and financial stability; highlights growing dependency of Sweden on events abroad
Honohan discusses lessons from central banks' response to financial shocks
Governor of the Irish central bank outlines lessons for central bankers from the impact of shocks to financial system
Lagarde calls for ‘gradual’ austerity moves
Lagarde calls for gradual and country-specific approach to austerity; says supply-side measures needed to achieve sustainable growth
King admits BoE should have done more to prevent banking crisis
Bank of England governor says central bank should have done more to prevent crisis despite its limited powers to act; says new resolution mechanism will not work for global banks
Dallas Fed chief calls for taxes on 'too-big-to-fail' financial institutions
Dallas Fed's Richard Fisher calls for more action on 'too-big-to-fail' entities; says new taxes should be introduced to encourage institutions to shrink balance sheets
Fed’s Tarullo laments delays in shadow-banking reform
Federal Reserve’s Daniel Tarullo hits out at slow speed of money market and repo market reform; urges debate on functions that ‘shadow banks’ should perform
IMF’s Shinohara sees three ‘brakes’ on global growth
IMF deputy managing director tells ADB annual meeting that fiscal consolidation, bank deleveraging and foreclosures in the US pose substantial risks to global growth
ECB cautious of damaged financial integration in Europe
European Central Bank releases downbeat Financial Integration in Europe report; Mario Draghi backs up message that integration work needs to be restarted
Dombret says role of central banks 'changed fundamentally' by crisis
Deutsche Bundesbank board member discusses changing role of central banks as a result of the financial crisis; says the situation could lead to a new financial instability
Weidmann cautions against “more of the same” approach to eurozone crisis
Deutsche Bundesbank governor says need for structural reforms must not be obscured by short-term factors
IMF discussion note calls for 'bail-ins' for resolution of Sifis
International Monetary Fund discussion note explores the potential for ‘bail-ins’ to resolve problems posed by systemically important financial institutions (Sifis)
Haldane says macro-prudential tools needed to prevent earnings 'arms race'
Bank of England's Andrew Haldane describes the tools macro-prudential policy makers need to prevent future crises; says banks engaged in a ROE and earnings ‘arms race’
SNB research examines spillover risk in international equity portfolios
Swiss National Bank study finds sector and currency risk attributable for majority of spillover risk in international equity portfolios
Irish deputy governor urges more regulation to prevent future housing bubbles
Stefan Gerlach calls for more stringent banking rules in order to prevent future house price bubbles
Praet places onus on governments to resolve sovereign debt crisis
ECB executive director and de facto chief economist says it is up to governments to resolve the sovereign debt crisis in the eurozone; says some progress is being made
Brazil slashes benchmark rate again
Central Bank of Brazil again cuts benchmark rate by 75 basis points; new 9% rate close to country’s all-time low rate