Governance
Carstens laments four fundamental weaknesses at IMF
IMF releases Agustín Carstens’ statement to the executive board following interview; describes four fundamental weaknesses he wants to address
Panellists' ‘shock’ at lack of investigation of BoE failings
Panellists giving evidence to the Treasury Committee expressed shock at absence of high-level investigation into the Bank of England’s actions in the financial crisis
Carstens and Lagarde in Washington for interviews
Interviews happening this week; decision still on course for June 30
FPC member gets call to Bank’s governing body
External Financial Policy Committee member Michael Cohrs appointed to Court of the Bank of England
Reserve Bank of India deputy governor retires
Shyamala Gopinath retires as deputy governor of the Reserve Bank of India; two new executive directors announced
IMF managing director saga continues
IMF rebukes New York Times for article on Fischer; Strauss-Kahn’s immunity pleas revealed; candidates continue battle for international support
ECB’s Bini Smaghi presents the four criteria for central bank independence
Executive board member claims criteria have safeguarded central banks from outside influences; “sorely tempting” to offload fiscal responsibilities onto monetary policy
Berlusconi asks Bini Smaghi to step aside
Italian prime minister acts to ensure French support for Mario Draghi as next head of the European Central Bank
Tanzania deputy governor leaves
Enos Bukuku takes up role with East African Community; Natu el-Maamry Mwamba reportedly replaces him
King defends his additional powers
UK government publishes draft legislation handing significant powers to the governor of the Bank of England; King reassures critics of the shift
Government representative quits Costa Rica’s board
Government representative on central bank board resigns; leaves body without power to make decisions on foreign exchange policy
Basel working group calls for 'explicit' financial stability mandate
Working group on financial stability governance calls for explicit and clear mandates for central banks
IMF disqualifies Fischer
IMF tells Stanley Fischer he cannot run for the role of managing director because of age; Fischer “proud and happy” to remain in role at Bank of Israel
West African central bankers receive training in debt managment and corporate governance practices
West African Institute for Financial Management works with IMF and World Bank to train region’s central bankers
Fischer joins IMF race
Governor of the Bank of Israel announces candidacy to become IMF managing director; calls chance to run an “extraordinary and unplanned opportunity”
Queen knights King
Bank of England governor Mervyn King receives knighthood from the Queen in her birthday honours list
Interview: John Mendzela
John Mendzela is a specialist in central bank governance and strategic management. Here he discusses the gaps in central bank governance highlighted by the crisis and presents some potential fixes
Estonian finance minister 'certainly qualified' for governor role
Chair of the central bank’s supervisory board says Estonian finance minister, Juergen Ligi is "certainly qualified" for the role of governor
New member for General Council of the Riksbank
Sven-Erik Österberg replaces Leif Pagrotsky on council that oversees the actions of central bank executive board
Bank of Canada highlights importance of research function
Bank of Canada 2010 Annual Report says research function is one of its leading priorities at central bank
British bankers disagree over ring-fencing
Controversial proposals for reform of UK banking system spark dispute among representatives of ‘big four’ banks; disagree over ring-fencing option
IMF race: Colombia backs Carstens, Lagarde ‘confident’
IMF leadership campaigns continue; Mexico central bank chief receives Colombia backing, Christine Lagarde is 'confident' following meetings with China
ECB backs Draghi to head central bank
European Central Bank governing council supports nomination of Bank of Italy governor Mario Draghi to head eurozone central bank
Macedonia replaces governor
Dimitar Bogov, formerly vice-governor, takes over as governor of the National Bank of the Republic of Macedonia