The dollar’s depreciation during the early floating rate period, 1973–1981, was a symptom of the Great Inflation. In that environment, sterilized foreign exchange interventions were ineffective in halting the dollar’s decline, but they showed a limited ability to smooth dollar movements....

Callum McCarthy joined the FSA in September 2003 from the Office of Gas and Electricity Markets where he was Chairman and Chief Executive. He had previously held senior positions in Barclays Bank, BZW and Kleinwort Benson, as well Department for Trade and Industry. He is an economist and...

This study discusses staple reforms in banking systems in Latin America and the Caribbean to improve their effectiveness. The paper identifies the main problems countries have been experiencing with banking systems, triggered by large credit losses. The direct and indirect costs of banking...