Andrew Sheng, a veteran regulator who acts as a chief adviser to China’s top banking regulator, believes ‘creative destruction’ needs to take place when financial engineering goes beyond an optimal level, as it did in 2007-2008.
Europe needs to act
French authorities welcome ECB's call for the resilience of central bank money to be recognised in EU derivatives legislation.
The EU faces a tricky 2011 as it navigates excessive debt, but needs to address solvency issues rather than liquidity, says Pimco's CEO Mohamed El-Erian.
Portugal sells $1.6 billion worth of government debt at auction, but commentators remain wary of fundamentals
Bank's Bailey says stability goal must not be swayed by “murky compromises with other objectives”
IMF executive directors support greater Fund role in surveillance of cross-border capital flows and creation of rules for capital account policies
Swiss National Bank excludes Irish sovereign debt and that of some Irish banks from list of collateral eligible for open market operations
Central Bank of Brazil governor says country’s inflation target should be similar to those of other leading emerging market economies
Bank of England executive director Andy Haldane charts course of global imbalances, pointing to trends likely to widen them
Ireland’s finance ministry says central bank independence not threatened by bank bill; statement comes in response to wide-ranging European Central Bank critique of draft law
European leaders endorse EFSF model, as facility gears up for debut issuance of up to €5 billion
Latest Financial Stability Report stresses importance of long transition to new rules, and concerns over central counterparty clearing
The cost of insuring against a default of peripheral European states continued to fall today, after peaking at record highs on Tuesday.
Andrew Fung, head of treasury and investment at Hang Seng Bank in Hong Kong, believes the Hong Kong and Chinese governments should simplify procedures for offshore renminbi to be remitted to mainland China. This would increase the appeal of RMB bond…
European Central Bank could modify governance arrangements of its settlement platform in a bid to entice sterling to join
European Union action on Ireland’s bank debts points to fears over contagion spreading across peripheral Europe.
Tarp oversight panel warns that bank incompetence threatens financial system
Trinity College's Lucey adds, "Thank God we have an honest central bank governor. He's the first official to call it as he sees it."
European Commission says pension funds should also be classed as “too big to fail”
Former White House economist details civil war between Bush administration and US Treasury
Preparing for failure