A new interdisciplinary research centre to explore and challenge conventional economic thinking has been created by the Oxford Martin School in collaboration with the Institute for New Economic Thinking (INET). The creation of this exciting new centre comes in the wake of the 2008 financial crisis and the on-going euro crisis, after which leading economists, [...]
Speech by Governor Daniel K. Tarullo. At the Federal Reserve Bank of Chicago Annual Risk Conference, Chicago, April, 2012. The importance of robust capital requirements for financial stability and the serious shortcomings of the pre-crisis capital regulatory regime have been well documented. In the last few years, domestic and international initiatives have strengthened standards for [...]
11 Apr. Bank of England Payment Systems Oversight Report 2011. The Bank of England has published the 2011 Payment Systems Oversight Report (see link below). The Oversight Report is an important element of the Bank’s oversight work. It offers public accountability for this statutory function of the Bank, as well as increasing transparency about the [...]
International Monetary Fund. World Economic Outlook (WEO): Growth Resuming, Dangers Remain, April 2012. The World Economic Outlook (WEO) presents the IMF staff’s analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development, etc.), and in many individual countries. It focuses on major economic policy issues [...]
Remarks by Malcolm Edey, Assistant Governor (Financial System), Reserve Bank of Australia. Panel session on Public Policy and Innovation at the Federal Reserve Bank of Kansas City Payments Conference, Kansas City , March 2012. The question I have been asked to address is whether inertia (or coordination failure) is an obstacle to payments system innovation. [...]
UK Parliament House of Lords, European Union Committee – Twenty-Ninth Report. This Committee has undertaken a detailed analysis of the European Commission’s controversial proposals for a Financial Transaction Tax (FTT). We have been disappointed in what we have discovered. We have found the Commission’s proposed model wanting in many respects, and unlikely to fulfil the [...]
Progress report on Basel III implementation and procedures for conducting country reviews published by Basel Committee. The Basel Committee on Banking Supervision has today published its second progress report on Basel III implementation. The report tracks the implementation of Basel II, Basel 2.5 and Basel III by Committee member countries. It outlines the progress of [...]
David Cameron is being urged by Conservative MPs to consider a range of measures to prevent Britain’s financial services sector being hobbled by EU legislation, including possibly seeking an outright exemption from Brussels rules. The Fresh Start group of Tory MPs is drawing up proposals for recasting Britain’s relationship with Europe and will this week [...]
In March 2012, Chairman Ben S. Bernanke delivered a four-part lecture series about the Federal Reserve and the financial crisis that emerged in 2007. The series began with a lecture on the origins and missions of central banks, followed by a lecture that discussed the role and actions of the Federal Reserve in the period [...]
Testimony by Mr Daniel K Tarullo, Member of the Board of Governors of the Federal Reserve System, before the Committee on Banking, Housing, and Urban Affairs, US Senate, Washington DC, 22 March 2012. Chairman Johnson, Ranking Member Shelby, and other members of the Committee, thank you for the opportunity to testify on implementation of the [...]