Governance
Questions that an audit committee should ask
Joanna Grochalska discusses how central banks can get the most out of their audit committees
Financial reform, Fed independence and the political economy of monetary policy
The 2010 Financial Reform Act will weaken the independence of the Federal Reserve. Looking at the central bank’s history and its political economy allows us to appreciate why, Thomas F. Cargill argues
Off with their Fed
The past six months have witnessed the Federal Reserve come under attack on issues ranging from its mandate to its discharge of its duties. Ramya Jaidev reports
RBA spends $18,000 on governor’s table; refurb could cost up to $68m
Reserve Bank of Australia says refurbishment could set it back A$68 million; big-ticket items include A$18,000 desk for governor Glenn Stevens
Central Bank of Chile paper links instability to austerity
Central Bank of Chile study finds positive correlation between austerity and instability in Latin American countries
Merkel names Weber’s successor
German chancellor Angela Merkel nominates economic adviser Jens Weidmann to replace Axel Weber as president of Bundesbank; picks BaFin director Sabine Lautenschläger-Peiter as new vice-president
Brazil’s Tombini nominates two deputy governors
Central Bank of Brazil president Alexandre Tombini names two department heads to sit on rate-setting committee
Draghi strikes familiar chord on eurozone’s future
Bank of Italy governor Mario Draghi stresses importance of fiscal discipline, says monetary union is sound
Belgium’s Praet to be nominated to ECB executive board
Eurozone finance ministers recommend National Bank of Belgium executive director Peter Praet to European Central Bank executive board
Taiwanese central bank disputes name change
Regional group’s use of Chinese Taipei label after mainland China’s entry sparks row with Taiwan’s central bank
Bond purchase frictions convinced Weber to drop out of ECB race
Bundesbank's Axel Weber says divergent views on ECB’s bond purchases meant he was no longer an acceptable candidate to succeed Trichet; stresses he was right to stick to his guns
Weber to quit Buba in April
Bundesbank confirms president will step down in coming months; term was due to end in 2012
Lebanon’s Salameh defends scandal-hit bank
Bank of Lebanon governor Riad Salameh offers support to Lebanese Canadian Bank after accusations by US Treasury of ties to illicit activities and terrorist organisations
Warsh quits Fed
Federal Reserve board member Kevin Warsh plans to step down from Fed seven years before term ends
Uganda’s Kasekende on benefits of African cooperation
Bank of Uganda deputy governor Louis Kasekende says stronger cooperation in African region will enable countries to exploit growth opportunities
Weber does not plan on second term: Bundesbank source
Bundesbank president Axel Weber set to quit central bank in spring 2012 at the latest
Southern Sudan should adopt currency board: IMF mission chief
Fund’s Sudan mission chief Edward Gemayel says simplicity of currency board system advantageous for soon-to-be country; South preparing to adopt new currency
Boom years not coming back: Bahrain’s Al Maraj
Central Bank of Bahrain governor Rasheed Mohammed Al Maraj says shareholders must recognise past boom years will not return and consolidate industries
Spain should consider regulatory overhaul: FSB peer review
Financial Stability Board peer review calls for Spanish authorities to consider new regulatory structure once market turmoil has subsided; separate review of Italy also published