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Archive for April, 2012

Banks: Telling Strength From Weakness

Are the perils posed by too-big-to-fail banks a thing of the past? That’s what we keep hearing from Washington. Politicians who wrote the Dodd-Frank law insist that it eliminates the dangers posed by large, politically connected financial institutions. At a news conference last week, Ben S. Bernanke, the chairman of the Federal Reserve, said that [...]

Global Financial Stability Report

International Monetary Fund. Full 2012 Global Financial Stability Report: The Quest for Lasting Stability. April 2012. The April 2012 Global Financial Stability Report assesses changes in risks to financial stability over the past six months, focusing on sovereign vulnerabilities, risks stemming from private sector deleveraging, and assessing the continued resilience of emerging markets. The report [...]

Implementation of stress testing practices by supervisors

13 April 2012. The Basel Committee on Banking Supervision has published a peer review of the implementation by national supervisory authorities of the Basel Committee’s principles for sound stress testing practices and supervision. Stress testing is an important tool used by banks to identify the potential for unexpected adverse outcomes across a range of risks [...]

Enhancing the contribution of external audit to financial stability

At its Plenary meeting on 10 January, the Financial Stability Board (FSB) Plenary underscored the importance of work to improve the role that external audits play in providing information to prudential supervisors and regulators of financial institutions, and to reinforce the effectiveness of the regulation of external audits, particularly those of financial institutions. The recent [...]

New centre to tackle major economic challenges

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, [...]

Developing Tools for Dynamic Capital Supervision

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 [...]

BoE Payment Systems Oversight Report

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 [...]

IMF World Economic Outlook

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 [...]

Inertia and Coordination Problems in Payment Networks

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. [...]

Towards a Financial Transactions Tax?

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 [...]

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