Central banks/Central banks
“We failed the system”: Carney at RBI panel
Governors including Canada’s Mark Carney and India’s Duvvuri Subbarao point to imbalances as root cause of the crisis, but skirt around concerns over the dollar
CentralBanking.com panel: it’s too soon to exit
Charles Goodhart, Paul Mortimer-Lee, Lucrezia Reichlin and Gabriel Stein concur that dangers are greater from exiting too early than too late but warn that asset prices risk becoming over inflated
Central bank insurance could prevent crises
Central banks should insure bank assets against systemic crises to avoid another financial panic, according to a proposal presented at the Federal Reserve's Jackson Hole symposium last week.
$1bn warrant auction design still undecided, US Treasury admits
Despite news of an impending auction of more than $1 billion of warrants on JP Morgan by the US Treasury, it remains unclear how any such auction would work.
UK may issue exchangeable gilts
The UK Treasury may issue bonds exchangeable into shares of Royal Bank of Scotland and Lloyds TSB, according to the asset manager responsible for the government's stakes in the two banks.