Norwich Global

Large systemically important banks: addressing the too-big-to-fail problem

Fri, 13 Nov 2009 15:02:26 +1100

Speech by Adair Turner
Chairman, FSA UK
Turner Review Conference: progress towards global regulatory reform
02 November 2009

The speech discussed a crucial issue in dealing with large systemically important banks, with banks which were treated as too big to fail. Whats the means of fail? Whats the concern come from too big to fail? How to address this problem? How about are the solution in solving this problem?

Inflation and Monetary Policy in Extraordinary Times

Fri, 13 Nov 2009 15:00:36 +1100

Speech by Eric S. Rosengren
President & Chief Executive Officer
Federal Reserve Bank of Boston
The Greater Boston Chamber of Commerce: Financial Services Forum
Boston, Massachusetts
October 2, 2009

The speech discussed the possible path of inflation and the orientation of monetary policy, the risk of this sort of premature policy action in the context of a specific historical case and some of the authors perspectives on the economy, the Federal Reserves actions, and the lessons we can draw from the Japanese experience.

The Debate on Financial System Resilience: Macro-prudential Instruments

Wed, 04 Nov 2009 14:58:52 +1100

Speech by Paul Tucker
Deputy Governor, Financial Stability
Bank of England
Addressing to Barclays Annual Lecture
22 October 2009, London

In this speech, author discussed whether there might be macro-prudential instruments that could lean against and preserve banking system resilience in the face of credit boom and bust and updated international plans for banks to produce recovery and resolution plans, Living Wills.

Private Equity in UK

Wed, 04 Nov 2009 14:57:41 +1100

Speech by Paul Myners
Financial Services Secretary of HM Treasury
Addressing to BVCA Private Equity Summit
14 October 2009

Author thinks that private equity can play positive role in Britains economic recovery. They can provide the capital British firms need to grow and develop, turn around failing firms, and provide the quality of active governance that many firms need. This speech gave the reasons for his opinion.

Background of BVCA
The BVCA is the industry body and public policy advocate for the private equity and venture capital industry in the UK. Their members come from venture capital, through mid-market, to private equity/large buy-out houses from all over Britain. They provide a growing list of services and best practice standards for their members across a spectrum of activities covering a network of interconnected committees, which focus on segment-led, legal, technical, regulatory, investor-led and service-led needs.

Credit Rating, Credit Rating Agencies, and their Development in Asia

Wed, 04 Nov 2009 14:55:32 +1100

Speech by Masahiro Kawai
Dean, ADB Institute
Addressing to Conference of Global Financial and Economic Crisis
1-2 July 2009, ADBI, Tokyo

The author expected to deepen the understanding of the role of credit rating and credit rating agencies in the financial market, from Asian perspectives. Credit rating agencies can help reduce information asymmetry between bond issuers (or complex financial products issued) and investors, thereby facilitating the development of efficient financial markets. What are the fundamental issues of credit rating and rating agencies in Asia?

How Quickly Can We Recover from the Global Financial Crisis?

Thu, 22 Oct 2009 13:28:47 +1100

Speech by Edwin M. Truman
Senior Fellow, Peterson Institute for International Economics
Addressing to Remarks at the Inaugural Symposium of the US-Japan Research Institute
September 22, 2009

The author think the global financial crisis might be recovered more quickly than people thought would be possible a year ago or six months ago when the global economy and financial system stopped its freefall. This article will discuss the nature of that recovery and the nature of the subsequent expansion.

Regulatory Response to the Financial Crisis

Thu, 22 Oct 2009 13:27:26 +1100

Speech by Tony D'Aloisio
Chairman of Australian Securities and Investments Commission
Addressing to Asia Securities Forum
Sydney, Oct 12, 2009

The global financial crisis (GFC) is already bringing about changes in the international regulatory landscape. The rules of the game are changing and those changes will shape the future of the financial markets. In this article, Arthur will brief the on-going international changes, and his understanding of the reform process.

Beyond the Crisis: Sustainable Growth and a Stable International Monetary System

Tue, 06 Oct 2009 14:26:57 +1100

Speech by Dominique Strauss-Kahn
Managing Director of the International Monetary Fund
Addressing to the Sixth Annual Bundesbank Lecture
Berlin, September 4, 2009

Although the global economy appears to be emerging at last from the worst economic downturn, international coordination of exit strategies will be just as important as the very good coordination in response to the crisis. Policy makers should err on the side of caution as they decide when to exit from their crisis response policies. Author want to focus on three questions related to the global economys transition beyond the crisis.
First, what will be the new sources of growth?
Second, are we addressing problems in the financial sector with sufficient urgency?
And third, how can the stability of the international monetary system be improved?

Trade and the Global Economic Crisis: "If It's Not Part of the Solution, It's Part of the Problem"

Tue, 06 Oct 2009 14:25:39 +1100

Speech by Jeffrey J. Schott
Peterson Institute for International Economics
Addressing the Economic Crisis, Preparing for Recovery
Singapore July 17, 2009

The International Monetary Fund (IMF) predicted that world output would decline by 1.4 percent in 2009 before weakly rebounding in 2010. Given the fragility of global economic conditions, it needs to ensure not to make a bad situation worse by restricting opportunities for trade and investment. However, policymakers will continue to face protectionist pressures for two related reasons:
1. Unemployment will continue to rise even after the economy stabilizes and begins to recover.
2. Hard times are not conducive to concluding a global trade dealthat's why political leaders will be cautious about engaging in end-game negotiations until the economic environment is much improved.

The Global Financial Crisis ---Lessons for the Australian Financial System

Tue, 06 Oct 2009 14:24:16 +1100

Speech by John F Laker
Chairman
Australian Prudential Regulation Authority
Opening Remarks Australian Economic Forum
Sydney 19 Aug 2009

Author singled out four general lessons from the global financial crisis that have resonance for a prudential regulator. These lessons relate to the evolution of risk in the financial system and they have obvious implications for risk governance and the regulatory framework, globally and in Australia.
Risks can materialise very rapidly and substantially
Risks need to be clearly identified and well understood
Agency risk has been more pervasive than may have appeared
The importance of good governance cannot be understated