Financial crisis
IMF’s Strauss-Kahn fears mounting social crisis
IMF managing director Dominique Strauss-Kahn says high unemployment and inequality risk developing into social crisis
Albania’s Fullani emphasises importance of stress tests
Bank of Albania governor Ardian Fullani calls for more attention to stress tests as part of central banks’ macroprudential policy
FDIC projects return to black
Federal Deposit Insurance Corporation expects its deposit insurance fund to return to positive figures this year after 13 quarters of negative funds
Fed’s Raskin calls for greater diversification of banks
Federal Reserve Board of Governors member Sarah Raskin says more diversified banking system will reduce risk of further crises
Consumers move back to cash payments: Boston Fed paper
Boston Federal Reserve study finds evidence of decline in credit and debit card usage and increase in cash payments during financial crisis
IMF paper explores measures of default probability
Fund paper investigates methods to measure market price of risk and probability of default
Risk Europe: Tension between the ESRB and ECB, says Belgium's Reynders
Europe's new systemic risk watchdog is already clashing with the ECB - but the ESRB's powers may need to be expanded, says Belgian finance minister, Didier Reynders
Israel’s Fischer outlines ten lessons to remember in a crisis
Bank of Israel governor Stanley Fischer delivers advice to policymakers on how to approach a crisis
RBNZ paper on global bond yields
Reserve Bank of New Zealand study finds close correlation between domestic and global bond yields
House of Lords report slams bank audits
The House of Lords Economic Affairs Committee releases stinging report asking the UK government to consider significant reforms to the system of bank audits
Hoenig warns policy will mean "someone has to pay" in the future
Thomas Hoenig renews call for the unwinding of policies put in place during the financial crisis, urging the Fed to shrink holdings and raise rates to provide better long-term prospects for the US economy
Periphery and inflation offer headaches for the Eurozone, says Credit Institute panel
Participants on a Credit Institute panel debate held in London argued that peripheral funding and inflation are the major challenges for the Eurozone
BoE on China’s growth path
Bank of England study says China may prefer a slower path of adjustment than deficit countries to rebalance global economy
RBI’s Chakrabarty calls for more refined approach to liquidity management
Reserve Bank of India deputy governor Kamalesh Chakrabarty says more sophisticated approach to liquidity management needed to avoid market contagion
ECB opines on how euro crisis facility should work
European Central Bank proposes IMF involvement in order to ensure facility does not promote moral hazard
IMF paper on foreign credit expansion in European EMEs
Fund study finds evidence of significant increase in level of foreign credit growth in emerging European countries
NY Fed’s Krieger: liquidity backstop for shadow banks vital
New York Federal Reserve executive vice-president Sandra Krieger stresses importance of backstop measures to reduce systemic risk arising from shadow banking activities
Crisis measures assisted financially distressed firms: IMF paper
Fund study says crisis recapitalisation policies helped provide financially dependent firms access to credit
CEPR paper identifies root cause of sovereign debt crises
Centre for Economic Policy Research study finds country indebtedness, quality of governance and ability to weather shocks are determinants of sovereign debt crises
Endogenous debt crises: CEPR paper
Centre for Economic Policy Research study says reckless borrowers pose greater threat of sovereign default than poor economic growth
The value of active management for central banks
Central bank portfolio managers should not avoid risk but rather have a disciplined approach to managing it, Elisa Vilorio believes
Bank of Finland paper on boom and bust
Bank of Finland proposes model to measure financial frictions in the Finnish economy
Boom years not coming back: Bahrain’s Al Maraj
Central Bank of Bahrain governor Rasheed Mohammed Al Maraj says shareholders must recognise past boom years will not return and consolidate industries
Crisis will not push SWFs to mull long-term shift: WikiLeak
Leaked diplomatic cable shows sovereign wealth funds rushed to liquid assets in immediate aftermath of crisis, but experts did not expect long-term portfolio shift