Macro-prudential policy
IMF paper assesses drivers of banking equity returns
Working paper studies factors behind movements in bank equity prices; finds that despite general 'dismal' performance, equities of better capitalised and less leveraged banks perform best
Sweden joins opposition to European banking union
Swedish government opposes European banking union proposals; Czech National Bank also expresses concerns
RBI executive director weighs financial stability objective
Deepak Mohanty considers financial stability as part of a central bank’s mandate; emphasises importance but says price stability should not be subordinated
Bank boards have little time to focus on business risk, says Scotiabank chief
Canadian bank chief believes pressing need to meet raft of new regulations means top bankers have little time to focus on business risks; says ‘small’ and ‘uncomplicated’ banks fail too
IMF paper assesses impact of financial sector size
Working paper examines the effect on growth of varying sizes of financial sectors; finds that above a certain threshold, financial sectors have a negative impact on growth
Riksbank’s Ingves considers bank regulation lessons
Stefan Ingves discusses banks’ role in financial crisis; warns of 'delay and lingering uncertainty' in European banking reform efforts
UK banks must remain under national supervision, says Lloyds chief
Lloyds Banking Group chairman says it is 'crucial' UK banks remain under national supervision; calls for more forward-looking regulation
MAS managing director on challenges to Islamic finance
Managing director of the Monetary Authority of Singapore, Ravi Menon, highlights challenges facing Islamic finance sector; emphasises need to adapt to changing global environment
Finland board member considers changing role of central banks
Member of the board of the Bank of Finland examines changes in the role of central banks after the financial crisis; highlights greatly expanded demands
Central Bank of Belize publishes annual report
Annual report published by Central Bank of Belize says central bank is “cautiously optimistic” regarding economic outlook
New York Fed article proposes capital regulation framework
Article suggests new framework for regulating capital; attempts to limit risk-taking while preserving creditors’ disciplining incentives
UK FPC member discusses role of the committee
Alastair Clark, a member of the Bank of England’s Financial Policy Committee, considers new body’s financial stability role and the difficulties it faces
Canada behind macro-prudential curve, say former Bank governors
Paul Jenkins and Gordon Thiessen want responsibility for macro-prudential policy formally assigned in Canada; also urge creation of a framework in which to carry out these functions
BIS paper studies financial transmission channels
Working paper analyses role of financial system in affecting economic growth and stability; emphasises importance of financial sector in macroeconomic models
Colombia central bank co-director discusses crisis
Carlos Gustavo Cano considers causes of financial crisis; emphasises importance of using macro-prudential tools to prevent asset bubbles and calm investors
Bangladesh bank governor discusses macro-prudential reforms
Atiur Rahman gives overview of progress in Bangladesh and says reforms are progressing well in South Asian Association for Regional Cooperation region
Designing a new global financial architecture
Developing a financial architecture for the future requires substantial thought about international capital flows and the role of institutional investors. By Bernd Braasch
System risk lessons from FX loans in Central and Eastern Europe
The build-up of forex loans in the CEE presented a systemic challenge to the region's financial stability. Piotr J Szpunar argues this points to a need for macro-prudential rules in Europe
Collateral eligibility: the ultimate macro-prudential policy weapon?
The most potent policy weapon at the disposal of central banks when it comes to fulfilling macro-prudential supervision are asset eligibility rules, says William Allen
RBI advisory committee strikes note of concern
Minutes from Reserve Bank of India Technical Advisory Committee on Monetary Policy meeting show fears over global and domestic economic challenges
Central Bank of Ireland’s McMahon lands at UK accountancy firm
Former head of financial institutions at Central Bank of Ireland appointed global head of bank regulation and restructuring at accountancy firm, Mazars
Reserve Bank of New Zealand to release latest Basel III proposals
Deputy governor of Reserve Bank of New Zealand says central bank will shortly submit its latest Basel III proposals; continuing fears over global economy highlighted in Financial Stability Report
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
BIS paper examines potential substitute monetary policy tools
Bank for International Settlements working paper discusses potential for interest rate and capital adequacy requirement tools to contribute to financial stability