Financial crisis
Yilmaz confident Turkey can keep up with other emerging markets
Central Bank of Turkey governor Durmas Yilmaz says country’s lack of toxic assets has paid off during the recovery
Philly Fed blames subprime crisis on bankruptcy reform
Philadelphia Federal Reserve study shows reform to homeowner bankruptcy rules caused default rates to rise during subprime mortgage crisis
When experts fail: a response and reply
Michael Taylor comments on the argument set out by Frank Vibert in the February edition of Central Banking journal, to which Vibert in turn replies
Official-sector balance sheets after the crisis
In the third of Central Banking’s web seminar series, Daniel Gros, Ken Wattret and Tim Young discussed how official sector balance sheets have changed, the new challenges policymakers face and how to overcome them
Ten issues for regulators to consider
René Smits devises ten key issues that European financial legislators must consider when constructing the post-crisis regulatory framework
Five lessons for dealing with EU bank failures
Hugo Banziger spent two weekends trying to save a German bank from failure. Here he identifies how and where European Union rules must change so that resolutions are faster and fairer
Federal Reserve policy as shown by its history
Much of the independence won by Paul Volcker has been surrendered in the recent crisis, says Allan H. Meltzer
Interview: Peter Praet
Fortis’s collapse all too well illustrated the difficulties in saving cross-border European banks. But the ideal solution, a European crisis resolution authority, remains a distant dream. However, there is an existing, yet perhaps unusual, candidate from…
How China is empowering the boardroom
Sound corporate governance is essential if future financial crises are to be avoided. Liao Min and Rui Wang of the China Banking Regulatory Commission (CBRC) explain how the commission is developing guidelines to make this happen
The Volcker Rule: wrong answer or the right question?
The Volcker Rule recognises that the structure of the banking system needs to change. For that it should be supported, says Michael Taylor
Fed’s Kohn: US still vulnerable from global imbalances
Federal Reserve vice chairman Donald Kohn says fiscal restraint needed in US to level global imbalances
Finnish housing rebound larger than neighbours'
Finnish central bank report shows housing market was boosted by low interest rates but remains well below its pre-crisis peak
Agency didn't follow its models on CDO ratings
A leading rating agency gave triple A ratings to CDO tranches when their own models implied downgrades
ECB’s Tumpel-Gugerell defends fair-value accounting
Gertrude Tumpel-Gugerell says fair-value accounting standards must be upheld despite amplifying crisis
Kenya: Bank Supervision Annual Report 2009
Kenya’s Supervision Annual Report 2009 shows the banking sector in Kenya grew by 14% despite global slump
Banks should not rely on CDS spreads for credit risk
National Bank of Belgium study highlights a number of shortfalls in policymakers’ use of CDS spreads as an indicator for bank risk
ADB's Kuroda pushes agenda for economic integration in Asia
Asian Development Bank president Kuroda hails Asian rebound but calls for commitment on wider integration of region
Atlanta Fed: subprime bubble linked to numeracy
Atlanta Federal Reserve study shows people with limited numerical skills are more likely to default on their mortgage
European rating agency could break the hold of 'big three': Barnier
European commissioner Michel Barnier moots a continental ratings agency to introduce diversity, comments follow criticism of ratings agencies from European finance minister
ECB breaks equal-treatment pledge and accepts Greek junk bonds
European Central Bank suspends minimum credit rating on Greek government debt, breaking its commitment to universal collateral rules
ECB’s Tumpel-Gugerell on e-invoicing
European Central Bank executive board member discusses pan European e-invoicing system
IMF: Chile’s financial system resilient to global crisis
IMF paper shows little impact of global financial crisis on Chilean banks
S&P’s Greek downgrade puts collateral issue back on agenda at ECB
Standard & Poor’s downgrades Greece’s debt to junk, the implications mean collateral would be ineligible at the European Central Bank if Moody’s and Fitch followed suit