Central banks
Greece will default, panellists say
Panellists at the Fathom Consulting Monetary Policy Forum say Greece will likely default on its debt
Brazil slams IMF proposal on capital controls
Brazil’s finance minister Guido Mantega rejects IMF proposals for establishment of framework on capital controls; attacks Fund’s laissez-faire policy on capital movements
Greek budget cuts raise default concerns
Markets prepare for the worst as Athens unveils new tougher austerity measures; IMF managing director Dominique Strauss-Kahn says cuts are necessary
HKMA warns on US dollar funding risk from China corporate lending
Hong Kong branches of Chinese commercial banks are increasingly lending US dollars to state-backed enterprises. The surge in dollar demand from Chinese corporates comes as lending is squeezed onshore by Beijing's efforts to limit the credit growth of…
Video: Tsuyoshi Oyama on the conflicted role of central banks post crisis
Bank of Japan veteran and Deloitte Touche Tohmatsu partner, Tsuyoshi Oyama, discusses the changed role of central banks post-global financial crisis and potential conflicts with their new role.
Basel Committee’s Walter: Consensus reached on method to identify Sifis
The Basel Committee has now agreed on criteria for banks posing systemic threat; FSB agrees on accelerated timetable for G-20 recommendations
Risk Europe: Roles of ESRB and ECB could conflict, says Belgium's Reynders
Europe's new systemic risk watchdog could clash with the ECB - but the ESRB's powers may need to be expanded, says Belgian finance minister, Didier Reynders
BoJ’s Miyao pledges continuity of settlements system during planned blackouts
Bank of Japan Policy Board member Ryuzo Miyao says in-house power generation at central bank branches would support settlements systems ahead of planned power shortages
China and HK central banks close to finalising new CNH clearing arrangement
Market participants are close to completing the legal and operational details relating to a new custodian account arrangement that would allow the city's participating banks in offshore renminbi to take credit risk against the People's Bank of China…
Moody’s Portugal downgrade sparks further speculation of bailout
Moody’s cuts Portugal’s credit rating by two notches to A3 on weaker growth prospects; analyst says bailout expected in coming months
ECB’s Bini Smaghi proposes single eurozone bond issuing agency
European Central Bank executive board member Lorenzo Bini Smaghi backs proposals for single eurozone government bond issuer; says agency could pave the way for a single European bond
Japan injects ¥7 trillion; expands asset purchase programme by ¥5 trillion
Bank of Japan makes largest-ever same-day funds operation in bid to subdue market panic following Tohoku earthquake
BoJ leaps to action to soothe quake fears
Bank of Japan moves to assure investors that financial infrastructures are still working; central bank will work to maintain smooth liquidity, settlement conditions
US still shows no signs of addressing debt mountain
America’s balancing act
Map of global banking network shows climb in contagion since late 1980s
Bank of England paper uses BIS banking stats to show potential for cross-border contagion has been rising for past two decades, reaching its apogee at the time of the Lehman Brothers’ collapse
UK DMO stresses need for consistency
Consistency rules
Efficient markets’ failure hamstrung central banks: CentralBanking.com panel
Reliance on efficient markets hypothesis to develop policy frameworks must be reversed, LSE’s Brandon Davies and Fathom director Danny Gabay argue
Bahraini bankers criticised central bank in lead-up to crisis: WikiLeak
WikiLeak alleges some economists and bankers dissatisfied with Central Bank of Bahrain's slow reaction to real-estate sector problems
ECB overnight lending rockets to 19-month high
Banks’ borrowing from the European Central Bank’s marginal lending facility climbs to $21 billion on Wednesday; sudden move has sparked speculation on bank troubles, analysts say
Bank amends collateral rules for sovereign debt
Revisions adjust ‘narrow’ and ‘wide’ bands for eligible collateral; change is for liquidity reasons
Israel’s Fischer calls for international FX rules
Bank of Israel governor Stanley Fischer calls on IMF to draw up set of international rules on foreign exchange intervention
Central banks accused of collateral hypocrisy
Despite the funding risk it creates, central banks still refuse to sign two-way collateral agreements
BIS reviews macroprudential literature
Literature review published by the Bank for International Settlements finds gaps in assessing the effectiveness of macroprudential tools, studying interaction with monetary policy