Regulators are making much of macroprudential tools to prevent future bubbles. But regulatory capture remains an obvious risk.
Western Europe
Latest articles from Western Europe
Latam banks lead the liquidity league
January 25, 2012Latin American banks dominate the rankings for deposits with the central bank, providing large liquidity cushions in their countries if needed.
Eiffarie motors on with APRR bond issue
January 3, 2012When the Macquarie and Eiffage consortium, Eiffarie, won a controlling stake in APRR, the highly leveraged French motorway company, Eiffarie knew it needed to gain quick access to the market to refinance APRR's loans. Eiffarie's team established a €6bn euro medium term note programme, and then in mid-November 2011 decided to return to the market with a €500m four-year deal to help repay its outstanding acquisition loan. The result defied even the most optimistic expectations.
Rethink needed on bank stress-testing
January 3, 2012With certain banks in the core eurozone states initially passing the European Banking Authority's generic stress-tests but then needing to be saved, surely now is the time to apply more rigorous testing procedures much like those endured by banks in the eurozone periphery countries?
Europe rotates the ratings messenger
January 3, 2012New European Commission proposals to force issuers to rotate ratings agencies every three years could lead to less stable and accurate ratings.
Italy's fall: a catastrophe waiting to happen?
January 3, 2012Italy's recent debt problems can be traced back to years of mismanagement by the country's self-serving politicians on both sides of the political fence. Mario Monti's 'technocrat' government, however, offers hope of a short-term financial revival and a long-term rethink of the manner in which Italian politics is conducted.
Short-term thinking will not bring financial and price stability
January 3, 2012Central bankers in emerging markets are discovering that they cannot achieve the twin goals of price and financial stability with the single tool of short-term interest rates.
HSBC refuses to rest on its laurels
January 3, 2012HSBC has not suffered in the global financial crisis as badly as many of its UK counterparts, and it is already well established in the high-growth emerging markets likely to dominate world trade in the coming decades. However, the bank's new chief executive still believes it could be offering better value to HSBC investors.
Remaking the eurozone
January 3, 2012Keeping Greece in and allowing massive European Central Bank intervention are the best ingredients for saving the eurozone. But the case for common eurozone bonds is less clear.
We need a rule book on how to fail
January 3, 2012Strengthening the legal framework to manage an international financial failure does not make failures more likely.