Governance
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
Czech President names new rate-setter
Czech economist Lubomír Lízal to replace Robert Holman on Czech National Bank rate-setting committee; bank board member Pavel Řežábek reappointed for second term
Buba’s Weber says EU agreement on fiscal sanctions lacks ambition
Bundesbank president Axel Weber says reforms of Stability and Growth Pact lack ambition and leave too much room for political discretion
SEC names new general counsel
Securities and Exchange Commission appoints deputy general counsel for litigation and adjudication Mark Cahn to head regulator’s law department
NY Fed adds two primary dealers
MF Global and Société Générale Americas Securities join New York Fed’s cadre of primary dealers
FDIC names new general counsel
Federal Deposit Insurance Corporation selects special adviser Michael Krimminger to head legal division
Cut Bank’s vote on macroprudential body, say lawmakers
Influential parliamentary committee calls for Bank of England executive directors’ votes to be transferred to external members, citing amount of power vested in central bank
Enria, Maijoor, Bernardino confirmed as ESA chairs
Andrea Enria, Steven Maijoor and Gabriel Bernardino get parliamentary seal of approval to head up European supervisory authorities
HK SFC’s Wheatley to head new UK regulator
Hong Kong Securities and Futures Commission’s Martin Wheatley named CEO designate of new consumer regulator; becomes head of FSA’s consumer and business wing in September
UK FSA calls for more funds again
Financial Services Authority puts funding requirement up by 10%, pointing to increased cost of intensive supervision, Basel III and forthcoming split
ECB’s Bini Smaghi pays tribute to Padoa-Schioppa
European Central Bank executive board member Lorenzo Bini Smaghi discusses the late Tommaso Padoa-Schioppa’s vision for the eurosystem
UK Treasury Committee calls on FSA to disclose details of banks’ pay
UK’s Treasury Committee chairman Andrew Tyrie asks FSA chief to disclose remuneration of 'high-end' employees; says disclosure in aggregated form will protect competitiveness of financial firms
Budapest can muscle in on rate-setting council, but will not control policy: Simor
National Bank of Hungary governor András Simor says even if the Hungarian government gets its way on the appointment of external rate-setters, appointees will have deliver on the central bank’s goals
Australia’s McKibbin could miss out on third term
Treasurer Wayne Swan suggests Reserve Bank of Australia external board member Warwick McKibbin will not be reappointed for third five-year stint
EU auditors issue recommendations on ECB recruitment procedures
European Court of Auditors says European Central Bank must provide further documentation of recruitment processes; central bank responds with launch of new recruitment manual planned for end of 2011
Bank Negara Malaysia promotes three directors to assistant governor
Malaysia’s central bank appoints Donald Joshua Jaganathan, Abu Hassan Alshari bin Yahaya and Marzunisham bin Omar to assistant governor
Central Bank of West African States close Ivory Coast offices
Ivory Coast offices of central bank shut; interim governor Jean-Baptiste Compaore says attempts to requisition central bank’s offices in violation of monetary union treaty
Philippines’ Tetangco to get second term: reports
Central Bank of the Philippines governor Amando Tetangco reportedly set to be offered second term at the helm; Tetangco credited with anchoring inflation expectations following recent spikes