BANK FOR INTERNATIONAL SETTLEMENTS BIS REVIEW NO. 80: BIS ANNUAL REPORT

BIS Review

Bank for International Settlements

BIS Review No 80 available

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

Mon 6/29/09

Please find BIS Review No 80 attached as an Adobe Acrobat (PDF) file.

Alternatively, you can access this BIS Review on the Bank for International Settlements’ website by clicking on http://www.bis.org/review/index.htm.

What’s included?

BIS Review No 80 (29 June 2009)

BIS Annual Report: Rescue, recovery, reform – the narrow path ahead?

BIS statement of account for May 2009

Jaime Caruana: The narrow path ahead

General Managers’s statement, BIS press conference

please e-mail press@bis.org.

BIS Review

Bank for International Settlements

BIS Review No 80 available

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

http://www.bis.org/review/index.htm

Mon 6/29/09

"GREEN SHOOTS" IDEA MISLEADING POLICYMAKERS?

The Financial Times

New Samuel Brittan article: 

'Green shoots' debate misleads

policymakers‏

andrew.heavens@gmail.com

Sat 6/27/09

The Financial Times 26/06/09

'Green shoots' debate misleads policymakers

Jean-Claude Trichet, president of the European

Central Bank, has said that output is now

falling "at a decreasing rate". It is highly

likely that we will have before long a

quarter or two of stable output - probably

first in the US and last in the eurozone, with

the UK in between. The interesting question is

where we go from there.

http://www.samuelbrittan.co.uk 

New Samuel Brittan article: 

'Green shoots' debate misleads policymakers

andrew.heavens@gmail.com

The Financial Times 26/06/09

http://www.samuelbrittan.co.uk 

Sat 6/27/09

FINANCIAL STABILITY FORUM: BASEL MEETINGS

Financial Stability Board (FSF)

fsforum@bis.org

Basel

FSF Alert‏

Sun 6/28/09

FSF e-mail alert on 28.06.2009 06:09 (GMT)

financial stability international

1 new document(s) found since 27.06.2009.

1. Inaugural Meeting of the Financial Stability Board, Basel (26-27 June 2009) (02.04.2009 17:00) – PDF 39311 bytes

Press Release

…27 June 2009 Financial Stability Board holds inaugural meeting in Basel The Financial Stability Board (FSB) held its inaugural meeting in Basel on 26-27 June.

This was the first meeting since the Financial Stability….

http://www.financialstabilityboard.org/press/pr_090627.pdf

Financial Stability Board (FSF)

fsforum@bis.org

FSF Alert‏

Basel

Sun 6/28/09

IMF: GLOBALIZATION

IMF Update: IMF Research Bulletin

NewContent@InternationalMonetaryFund.org

Fri 6/26/09

New item:

IMF Research Bulletin — June 2009:

New Q&A feature in this issue focuses on “Seven Questions about Recessions” (by Marco Terrones); IMF research summaries on financial stress (by Selim Elekdag) and on the real effects of the 2007-08 financial crisis (by Hui Tong); listing of visiting scholars at the IMF during April-June 2009; listing of recent IMF Working Papers; listing of contents of Vol. 56 No. 2 of IMF Staff Papers; listing of recent external publications by IMF staff; and a feature on Staff Position Notes, the IMF’s new policy paper series, including a list of recent papers.

http://www.imf.org/External/Pubs/FT/irb/2009/02/index.pdf

To view and print pdf files you need the free Adobe Acrobat Reader which is available at:

http://www.adobe.com/products/acrobat/readstep.html.

For tracking globalization and its impact on individual economies, please see the new IMF Survey magazine online at http://www.imf.org/external/pubs/ft/survey/so/home.aspx

News, views, and analysis from the IMF.

Send a message to webmaster@imf.org.

IMF Update: IMF Research Bulletin

NewContent@InternationalMonetaryFund.org

http://www.imf.org/external/pubs/ft/survey/so/home.aspx

http://www.imf.org/External/Pubs/FT/irb/2009/02/index.pdf

Fri 6/26/09

BANK FOR INTERNATIONAL SETTLEMENTS BIS REVIEW NO. 78: FINANCIAL SYSTEM

BIS Review

Bank for International Settlements

BIS Review No 78 available

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

Wed 6/24/09

Please find BIS Review No 78 attached as an Adobe Acrobat (PDF) file.

Alternatively, you can access this BIS Review on the Bank for International Settlements’ website by clicking on http://www.bis.org/review/index.htm.

What’s included?

BIS Review No 78 (24 June 2009)

Jean-Claude Trichet: Supporting the financial system and the economy – key ECB policy actions in the crisis

Tom Alweendo: Announcement of the commencement date of the Financial Intelligence Act 2007

Thomas Jordan: Low interest rates – blessing or curse?

Elizabeth A Duke: Containing the crisis and promoting economic recovery

José Manuel González-Páramo: Beyond the financial crisis – some issues on the future of central banking

please e-mail press@bis.org.

BIS Review

Bank for International Settlements

BIS Review No 78 available

http://www.bis.org/review/index.htm

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

Wed 6/24/09

POLICY RESPONSE TO THE GLOBAL FINANCIAL CRISIS

South Centre:

Policy Response to the Global Financial Crisis

South Centre (south@southcentre.org)

Mon 6/22/09

June 2009

Dear Sir/Madam,

Attached please find the New South Centre Paper

(May 2009):

Policy Response to the Global Financial Crisis:

Key Issues for Developing Countries.

This new paper, authored by South Centre’s Special Economic Advisor, Dr Yilmaz Akyüz, deals with the global financial crisis and developing countries.

The first part is on what is needed to support the required policy response in developing countries. The second part is on the required reform to the international financial architecture. A summary of policy conclusions and proposals is at the end.

We hope you will benefit from this paper and we look forward to getting your views.

You can write to us at south@southcentre.org

Yours sincerely,
Martin Khor
Executive Director,
South Centre

Download the whole issue by clicking here or going to South Centre webpage at:

http://www.southcentre.org/index.php?option=com_content&task=view&id=1016&Itemid=1

Now the French version of the paper is also available at:

http://www.southcentre.org/index.php?option=com_content&task=view&id=1016&Itemid=1〈=fr

Please send you comments to: south@southcentre.org

South Centre Website: http://www.SouthCentre.org

(South Centre Blog and South Centre DigitalTV)

South Centre: Policy Response to the Global Financial Crisis

South Centre (south@southcentre.org)

http://www.SouthCentre.org

http://www.southcentre.org/index.php?option=com_content&task=view&id=1016&Itemid=1

Mon 6/22/09

STEFAN ZWEIG AND THE OPACITY OF HISTORY

Stefan Zweig (1881-1942)

In his great autobiography, “The World of Yesterday,” the Austrian-Jewish writer Stefan Zweig makes an extremely astute comment on the opacity of history, when he says:

It remains an irrefragable law of history that contemporaries

are denied a recognition of the early beginnings of the great

movements which determine their lives.

The World of Yesterday, 1964 University of Nebraska Press paperback reprint, Chapter XV, opening lines, page 358.

The World of Yesterday

World of Yesterday (German title Die Welt von Gestern) is the autobiography of Austrian writer Stefan Zweig.

He started writing it in 1934 when, anticipating Anschluss and Nazi persecution, he uprooted himself from Austria to England and later to Brazil. He posted the manuscript, typed by his wife, to the publisher a day before their suicides in February, 1942 . The book was first published in April 1943 byViking Press.

The book describes the life of the young artistic Vienna of the turn of the century with detailed anecdotes.

“When I attempt to find a simple formula for the period in which I grew up, prior to the First World War, I hope that I convey its fullness by calling it the Golden Age of Security.”

(opening lines of book, Chapter I, “The World of Security” page 1)

(Zweig, The World of Yesterday)

Stefan Zweig (1881-1942) was a poet, novelist, and dramatist, but it was his biographies that expressed his full genius, recreating for his international audience the Elizabethan age, the French Revolution, the great days of voyages and discoveries. In this autobiography he holds the mirror up to his own age, telling the story of a generation that “was loaded down with a burden of fate as was hardly any other in the course of history.” Zweig attracted to himself the best minds and loftiest souls of his era: Freud, Yeats, Borgese, Pirandello, Gorky, Ravel, Joyce, Toscanini, Jane Addams, Anatole France, and Romain Rolland are but a few of the friends he writes about.

Stefan Zweig (1881-1942)

"FINANCIAL TIMES": TWO SAMUEL BRITTAN ARTICLES

The Financial Times 12/06/09

Two new Samuel Brittan articles

andrew.heavens@gmail.com

Sat 6/20/09

It is time to put Europe on hold

The Financial Times 12/06/09

The best practical proposal would be to call a halt to further institutional deepening and concentrate on making the existing EU work better. This is what Eurocrats say will happen after each new expansion of EU powers. It never does, of course.

http://www.samuelbrittan.co.uk/text338_p.html

Inflation can act as a safety valve

The Financial Times 29/05/09

The real snag about indexation remains the problem of wages. As Keynes, Prof. Shiller himself and many others have observed, workers accept more readily a real wage cut arising from a rise in the general level of prices than an actual reduction in what they are paid. Prof. Shiller tries hard to find a unit in which workers could accept with good grace a reduction in real pay; but I do not think he succeeds. In some circumstances a little bit of old-fashioned inflation is the best safety valve available.

http://www.samuelbrittan.co.uk/text337_p.html

Two new Samuel Brittan articles

andrew.heavens@gmail.com

The Financial Times 29/05/09

Sat 6/20/09

GLOBAL ECONOMIC CRISIS AND THE DEVELOPING WORLD

South Bulletin:

Focus on Policy Response to the Economic

Crisis‏

South Centre (south@southcentre.org)

Fri 6/19/09

Dear Sir/Madam

Geneva 6 June 2009

Attached please find the latest:

South Bulletin (6 June 2009):

FOCUS ON POLICY RESPONSES TO THE ECONOMIC CRISIS. The focus of this issue is on the policy measures and international actions needed to assist developing countries in facing the global economic crisis.

The South Centre has produced a major paper on this theme, and the Bulletin provides a summary.

This issue of the Bulletin also publishes a statement made by the Chair of the G77 and China at the opening phase of the negotiations in New York to prepare for the UN Conference on the financial and economic crisis and its effects on development.   The Conference will be held on 24-26 June.

We hope you will benefit from this issue of the South Bulletin and we look forward to getting your views.

You can write to us at south@southcentre.org .

Download the whole issue by clicking here or going to South Centre webpage at:

http://www.southcentre.org/index.php?option=com_content&task=view&id=1017&Itemid=1

Please send your comments to: south@southcentre.org

South Centre Website: http://www.SouthCentre.org

With best wishes,

Martin Khor

Executive Director, South Centre

South Bulletin:

Focus on Policy Response to the Economic

Crisis‏

South Centre (south@southcentre.org)

http://www.southcentre.org/index.php?option=com_content&task=view&id=1017&Itemid=1

Fri 6/19/09

TAMING THE CREDIT CYCLE: DALLAS FED

Federal Reserve Bank of Dallas

Dallas Fed Economic Letter

Vol.4 No.4 June 2009

Maximum Loan-to-Value Ratio Is Key Reform

Taming the Credit Cycle by Limiting

High-Risk Lending

Dallas Fed Publications (dal.webmaster@dal.frb.org)

Fri 6/19/09

http://dallasfed.org/research/eclett/2009/el0904.html

Constraining high-risk real estate lending during credit booms should be a key aim for financial reform, according to the June issue of Economic Letter.

“Taming the Credit Cycle by Limiting High-Risk Lending” contends that a maximum loan-to-value ratio–the restriction of a loan’s amount to no more than a specified percentage of the underlying real estate’s appraised value–would guard against the speculative borrowing that leads to credit booms

Federal Reserve Bank of Dallas publications

We welcome your comments, questions and suggestions.

Please e-mail us at dal.webmaster@dal.frb.org.

Federal Reserve Bank of Dallas 2200 N. Pearl St.

Dallas TX 75201

Federal Reserve Bank of Dallas

Dallas Fed Economic Letter

Vol.4 No.4 June 2009

Maximum Loan-to-Value Ratio Is Key Reform

Taming the Credit Cycle by Limiting High-Risk

Lending

http://dallasfed.org/research/eclett/2009/el0904.html

Dallas Fed Publications (dal.webmaster@dal.frb.org)

Fri 6/19/09