Articles by Central Banking Newsdesk
Yellen defends IMF proposals on capital controls
Federal Reserve vice-chair takes Fund line on framework to tackle capital inflows; follows criticism of framework from Indian, Brazilian officials
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
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
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
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
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
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
European parliament embraces Tobin tax
Lawmakers throw their weight behind Tobin tax on financial transactions; say global difference of opinion should not stop Europe implementing levy
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
Iosco draws systemic risk roadmap for securities regulators
International Organisation of Securities Commissions sets out ways in which securities authorities can help control systemic risk
Return to Glass-Steagall essential: Kansas City Fed’s Hoenig
Kansas City Federal Reserve president Thomas Hoenig says reform only scratches the surface without basic separation of investment, commercial banking activity for biggest banks
€100 billion of caja loans could go bad: Bank of Spain
Bank of Spain releases details of savings banks’ exposures to real estate sector, levels of provisions; says reforms have addressed slew of underlying problems
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
Basel alone will not protect us: UK Treasury Committee’s Tyrie
UK Treasury Select Committee chair Andrew Tyrie says fundamental changes to the way banks are supervised a must; tripartite system left no one in charge
Fed’s Tarullo outlines OTC derivatives reform agenda
Federal Reserve governor Daniel Tarullo stresses importance of central counterparties, close scrutiny of market participants
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
Fed wants right to choose which non-banks pose systemic threat
Federal Reserve rule proposes that it will have discretion to determine whether non-bank financial firms come under Financial Stability Oversight Council’s watch on case-by-case basis
Cut BoE’s vote on macroprudential body, say lawmakers
Influential parliamentary committee calls for Bank of England (BoE) executive directors’ votes to be transferred to external members, citing amount of power vested in central bank
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
Global supervisors gather at NY Fed for OTC meet
Regulators and supervisors head to Liberty Street for eighth OTC derivatives gathering
Basel III should aim higher on capital targets, says Bank of England
Discussion paper published by Bank of England and co-authored by external rate-setter David Miles suggests Basel III common equity requirements are too low
IIF’s Oudéa calls for G-20 taskforce for cross-border resolution
Institute for International Finance’s Frédéric Oudéa says G-20 taskforce will stir up political will for agreement on cross-border resolution
IMF uneasy on nagging weakness of eurozone’s banks
Fund’s Global Financial Stability Report and World Economic Outlook updates show concern over insufficiency of eurozone stress tests, links between banking and sovereign risks