The Financial Regulation Forum
Financial system
State capitalism is a viable alternative to liberal capitalism
The Economist Debate: This house believes that state capitalism is a viable alternative to liberal capitalism. The moderator’s, Adrian Wooldridge, rebuttal remarks. I’m writing my contribution to this debate from Davos, where, I’m intrigued to note, state capitalism is well represented, despite the low profile of the Chinese delegation. I received a free copy of [...]
Britain’s financial industry: Death by a thousand cuts
The City is one of Britain’s great export industries. Yet its continued success is far from certain. From high up in their towers some 90,000 bankers look down on the Thames as it meanders past what was, in living memory, the world’s busiest port. Six decades ago these shores saw a daily tide of vessels [...]
Reform of the International Monetary and Financial System
Bank of England Paper: Reform of the International Monetary and Financial System. By Oliver Bush, Katie Farrant and Michelle Wright The financial crisis has imposed large costs on the global economy and revealed deficiencies in policy frameworks around the world. While the ongoing reforms to financial regulation aim to make the financial system more resilient, [...]
UK FSA: The failure of the Royal Bank of Scotland
The Financial Services Authority (FSA) has published its Board’s Report into ‘The failure of the Royal Bank of Scotland’ (RBS). The Report concludes that RBS’s failure amid the systemic crisis ultimately resulted from poor decisions made by the RBS management and Board. But deficiencies in the global capital regime and liquidity regulations made the crisis [...]
BoE Systemic Risk Survey
As part of its statutory objective to protect and enhance financial stability in the United Kingdom, the Bank of England works to identify risks to the stability of the UK financial system. The Systemic Risk Survey contributes to this activity by quantifying and tracking, on a biannual basis, market participants’ perceptions of such risks. The [...]
Strengthening the Financial Stability Framework of the EU
Address to the 2011 Dublin Economic Workshop, Ajai Chopra, Deputy Director, European Department, International Monetary Fund, October 15, 2011. Introduction I would like to thank the conference organizers for offering me the opportunity to talk about how the financial stability framework of the EU could be strengthened. Much has happened since July when I accepted [...]
Economist debate: The euro and Europe
This house believes that the euro, as a single currency, is dividing Europe and should be abolished. The voting pattern for this motion has been remarkably consistent, no matter the sharpness of the arguments: a clear majority is against breaking up the euro. The motion has been defeated; it is clear that this house does [...]
Meeting of Financial Stability Board
Meeting of Financial Stability Board. The Financial Stability Board (FSB) met 18 July in Paris. The meeting reviewed the draft consultation papers to be published this month on measures to address the risks posed by global systemically important financial institutions (G-SIFIs). Members also assessed vulnerabilities affecting the financial system and the progress of initiatives in [...]
Payments systems and systemic risk
The case for more CHAPS settlement banks, Speech by Chris Salmon. In a speech delivered at a breakfast hosted by the Yorkshire and Humberside Network of the ifs School of Finance, Chris Salmon, Executive Director of Banking Services and Chief Cashier, explains why the Bank of England believes that the currently rather limited direct membership [...]
Clearing houses as system risk managers
03 Jun. Clearing houses as system risk managers, speech by Paul Tucker, BoE. In a speech at the launch of the Depository Trust & Clearing Corporation (DTCC) – Centre for the Study of Financial Innovation (CSFI) Post-Trade Fellowship, Paul Tucker – Deputy Governor for Financial Stability, member of the Monetary Policy Committee and member of [...]
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