Financial crisis
Central banks in 'uncharted waters', Lamfalussy tells ACI Congress
Former BIS chief recognises challenges facing central banks, but praises the ECB for its performance during the financial crisis
RBI wants new law to better regulate financial companies
Reserve Bank of India working group wants all large financial groups to be governed by new financial holding company structure; central bank would serve as regulator
Will the new monetary policy consensus work for a small, open economy?
A new consensus is emerging for how monetary policy should be conducted. However, using the Czech experience as an example, Jan Frait, Zlatuše Komárková and Luboš Komárek argue that it may be difficult to apply in small, open economies
The case for symmetrical monetary policy and its role in the new financial architecture
Central banks should adopt a more symmetrical approach to monetary policy in supporting financial stability. Bernd Braasch discusses how such an approach can best be implemented amid the jumble of policy strands competing for officials’ attention
Avoiding group think and conflicts of interest: widening the circle of central bank advice
Central banks may better serve the public by calling on a broader group of economists for advice, Gerald Epstein and Jessica Carrick-Hagenbarth believe
Reform of the international monetary system: a modest proposal
Richard N. Cooper presents an idea to enhance the stability of the international monetary regime
Reforming financial regulation and the international monetary system
The regime we have is far from perfect. But regulatory oversight can go some way towards countering its flaws, Jacques de Larosière believes
The whys and hows of CoCo issuance
There is much support for contingent capital, or CoCos, among regulators and economists. However, officials, bankers and investors alike are unsure what should serve as the trigger to turn debt into equity. Here, Charles Calomiris and Richard Herring…
Interview: Kevin Warsh
On the eve of his departure from office, the Fed governor talks to Blair Baker about the forces behind the financial crisis and why we remain far from fixing the system
The three-trillion-dollar question
Keen to assert its monetary autonomy, the People’s Bank of China is locked in a tussle with the finance ministry to determine how the country’s excess reserves are managed
Ganbaro Nippon!
Robert Pringle reports from Tokyo on the Bank of Japan’s response to the Great East Japan Earthquake
A retail ring-fence for the UK
Robert Pringle and Hugh Sandeman analyse the Independent Commission on Banking’s interim report
Were the ‘bloody bankers’ to blame?
J.R. Sargent assesses whether the public scorn poured on bankers is justified
LIC Asia banks’ not isolated from crisis: IMF paper
Fund study identifies spillover effects from global financial crisis on low-income country banks in Asia
Europe must share blame for sovereign debt crisis: ECB’s Stark
Stark says European Monetary Union failures contributed to situations in Greece, Ireland and Portugal; calls for end to emergency stimulus policies
Crisis propagated liquidity shortage: Bank of Canada paper
Bank of Canada study shows banks that rely on wholesale funding were worst affected during the crisis
Bernanke to make motion picture debut in “Too big to fail” film
New film chronicles the months leading up to Lehman Brothers’ collapse in 2008; centres on treasury secretary Henry Paulson
ECB publishes the third edition of monetary policy book
ECB releases comprehensive overview of the ECB's monetary policy
IIF: cross-border resolution regime an ‘absolute priority’
Global trade body for banking industry calls on G-20 to set up task force; calls on banks to identify “critical functions” that need to be preserved in the event of failure
IMF paper on enhancing stress-test framework
Fund study examines simple techniques to improve risk sensitivity in bank stress test exercises
Role of Fannie, Freddie failure in crisis has been underplayed: ex-Fed’s Warsh
Recently departed governor Kevin Warsh tells Central Banking that decision to take government-sponsored enterprises into state ownership had significant ramifications