Financial Stability
Lambert will not take up seat on Bank’s FPC
Former Monetary Policy Committee member Sir Richard Lambert says he no longer wishes to become one of four external members of macroprudential body
Basel Committee unveils final proposals on pay
Basel Committee on Banking Supervision reveals risk-adjusted remuneration report; urges large firms to move away from remunerating employees based purely on their profits
Funding pressures influencing rate votes: BoE’s King
Bank of England governor Mervyn King notes gap between rates and funding costs “enormous”; says “big picture not changed much”
BoE’s Haldane calls for policy action on short-termism
Bank of England’s Andrew Haldane says public policy intervention may be needed to correct capital market myopia
Bank of Namibia to issue new banknotes in 2012
New security features will be added to notes; old notes will still be legal tender
Turkey releases latest inflation report
Central Bank of Turkey April 2011 Inflation Report covers new policy strategy
IIF: cross-border resolution regime an ‘absolute priority’
Global trade body for banking industry calls on G-20 to set up task force; calls on banks to identify “critical functions” that need to be preserved in the event of failure
Yellen defends IMF proposals on capital controls
Federal Reserve vice-chair takes Fund line on framework to tackle capital inflows; follows criticism of framework from Indian, Brazilian officials
Elderfield details Ireland's new risk assessment model
Matthew Elderfield, head of financial regulation at the Central Bank of Ireland, reveals details of new ‘Prism’ risk assessment model
Too big to fail must end; FDIC chair Bair
Being labelled a Sifi will not mean being anointed too big to fail, leading to automatic bailouts, Federal Deposit Insurance Corporation chairman, Sheila Bair warns
EU governance reform falls short of quantum leap: Trichet
European Central Bank president Jean-Claude Trichet calls for less discretion to application of Stability and Growth Pact
Phasing in Basel III rules eases economic costs: IMF paper
Fund study shows that implementing higher capital and liquidity requirements over a lengthy period of time can help reduce the macroeconomic costs of enforcing such rules
Cash has a future: Sweden’s Nyberg
Riksbank deputy governor Lars Nyberg predicts cash will continue to be used for payment despite decline in usage
Indonesia issues tough sanctions for Citibank
Bank Indonesia bans Citi from opening branches for a year
Bernanke sheds light on new macroprudential approach
Federal Reserve chairman Ben Bernanke touches on benefits of new macroprudential approach in the United States under the Dodd-Frank Act
Mersch on Basel III liquidity proposals
Central Bank of Luxembourg governor Yves Mersch says Basel III bank liquidity proposals will prevent build-up in liquidity risk
ECB’s Tumpel-Gugerell on cost of ex-post crisis measures
European Central Bank executive board member Gertrude Tumpel-Gugerell says large costs to clean up asset-price bubbles should lend support to more preemptive policies
Bank of England keep rates at record low
Bank holds for fourteenth month in a row
Sarb’s Mminele on policymaking in volatile markets
South African Reserve Bank deputy governor Daniel Mminele discusses challenges for policymakers in uncertain financial markets
ADB discusses stability, inflation and the dollar at AGM
Annual general meeting of the Asian Development Bank touches on core issues for the region; stability, inflation and reforming the international monetary system
Draghi calls for EU law to govern bail-in powers
Financial Stability Board chairman Mario Draghi says measures to enable bondholders to receive haircuts before the collapse of a financial institution should be placed in European Union legislation
Wellink clarifies position on Greece restructuring
Media reports suggest Netherlands Bank president Nout Wellink is open to a debt restructuring for Greece; central bank spokesperson denies suggestions, says president’s views remain in line with European Central Bank
SNB turns profit in first quarter following steep loss in 2010
First quarter profits likely to come as relief after criticism that greeted $20.7 billion loss in 2010
Turkey’s Yilmaz explains motivation behind policy strategy
Central Bank of Turkey governor Durmuş Yilmaz says combination of liquidity management facilities, reserve requirements and policy rates will help achieve price and financial stability in Turkey