Governance
Look to markets for head supervisors: De Larosière
Jacques de Larosière says heads of new European Supervisory Authorities should think like market participants and have their respect
Central bankers, politicians splinter on reach of ESRB
Weber, Constâncio specify limits of European Systemic Risk Board's authority over national regulators; politicians advocate one unified European stand
Fed’s Plosser calls for rules for crisis-fighting measures
Philadelphia Federal Reserve president Charles Plosser says Fed risks undermining its credibility if it does not provide clear policy rules for the exceptional policy measures seen during the crisis
Fed's Alvarez favours balanced incentive compensation design
Federal Reserve general counsel Scott Alvarez says overly restrictive compensation packages may create risk to organisations
Isoard to head International Association of Deposit Insurers
International Association of Deposit Insurers appoints former governing board member of Mexico's deposit protection agency Carlos Isoard as next secretary general
Weber’s German defence highlights leadership flaws
Bundesbank president Axel Weber blames deficit countries for eurozone’s woes; analysts say comments further complicate chances at ECB presidency
Argentina’s Marcó del Pont nominated for full term
Argentine President nominates central bank governor Mercedes Marcó del Pont for full six-year term, even as inflation soars and currency value drops; deputy, board members also nominated
Summers quits Obama’s economic team
Chief adviser to President Obama, Lawrence Summers, announces departure from National Economic Council at end of year
Analysts applaud passage of ESRB, fret over practical concerns
Commentators praise the concept of a continent-wide systemic risk supervisor but say politics and lack of policy clarity could thwart good intentions
RBA appoints new head of economic research
Reserve Bank of Australia promotes deputy head of domestic markets Jonathan Kearns to head of economic research
Ex-Brazil deputy to head hedge fund’s Latin American office
Former Central Bank of Brazil deputy governor Mário Mesquita will head Latin American office of UK hedge fund Brevan Howard
Trichet lauds Estonia’s positive response to crisis
European Central Bank president Jean-Claude Trichet says Estonia’s quick reaction to financial crisis paved Tallinn’s road to euro adoption
Rajan, Krugman renew spat
Ex-IMF chief economist Raghuram Rajan and Nobel laureate Paul Krugman revive clash over central banks' role in the crisis
Banks forgot their wider social duties: HSBC's Green
HSBC chairman and new UK trade minister Stephen Green says banks must reexamine their contract with shareholders and society; sustainability central part of shareholder value
Beijing makes two changes to MPC
People’s Bank of China deputy governor Du Jinfu and Industrial and Commercial Bank of China president Jiang Jianqing will join advisory Monetary Policy Committee
Elizabeth Warren poised to run consumer body: reports
US media say Harvard academic Elizabeth Warren to be named assistant to President in new consumer body; designation will allow her to circumvent politically charged confirmation process
RBI narrows rate corridor with repo, reverse repo hikes
Reserve Bank of India lifts repo and reverse repo rates in first-ever mid-period policy review; narrows rate corridor as flagged to cut market volatility
German paper claims Sarrazin deal pushed onto Buba
Broadsheet says German President Christian Wulff forced Bundesbank to negotiate deal that led to Thilo Sarrazin’s departure; report stirs up concern on Buba’s independence
Oxford SWF Project cautions funds on aping other investors
Oxford SWF Project paper argues sovereign wealth funds’ tendency to copy strategy of other institutional investors misguided
IMF: successful financial liberalisation requires good governance
Fund study shows that good political institutions increase opportunity for sustainable financial deepening