Governance
Belgium modernises central bank statute
National Bank of Belgium calls extraordinary general meeting to discuss changes to statute governing central bank; attempts to avoid repeat of historic legal battle debacle over ancient wording
Treasury Committee’s Tyrie calls for reform of BoE board
Treasury Select Committee chairman, Andrew Tyrie, calls for urgent reform of governance rules at the Bank of England; warns new regulatory powers must be closely monitored
Risk Europe: Tension between the ESRB and ECB, says Belgium's Reynders
Europe's new systemic risk watchdog is already clashing with the ECB - but the ESRB's powers may need to be expanded, says Belgian finance minister, Didier Reynders
Banque de France profits remain elevated on back of euro note increase
Annual report delivers news that profit at the Banque de France remains high this year. Net profit is €2.56 billion, profit before tax is €4.5 billion
Fed chooses new chief operating officer
Atlanta businessman Richard Anderson will become chief operating officer of the Federal Reserve System later this month
Europe’s future hinges on member states’ commitment to EMU: Trichet
European Central Bank president Jean-Claude Trichet says tackling monetary union issues will determine historical trajectory of Europe
Wellink challenges ECB bond purchase programme
Netherlands Bank governor Nout Wellink calls for reduction of European Central Bank support in bond markets
Fed reveals details on emergency funding recipients
Federal Reserve releases information on banks’ discount window activity during crisis; ends 28 month-long dispute with Bloomberg
Rejected Maiden Lane II offer baffles AIG
New York Federal Reserve declines AIG bid for Maiden Lane II assets; insurer says decision was unanticipated, expresses disappointment with Fed
MAS appoints Menon as new managing director
The Monetary Authority of Singapore (MAS) has named Ravi Menon as its new managing director. He replaces Heng Swee Keat who is leaving administrative service.
RBI’s Gokarn on financial inclusion strategies
Reserve Bank of India deputy governor Subir Gokarn says banks should consider inclusion-oriented products and services as part of strategy
BoJ paper on Fed’s communication strategy
Bank of Japan study says change in Federal Reserve’s communication strategy in 1990s helped it better manage expectations
Change at the top for Lithuania
Vitas Vasiliauskas to succeed Šarkinas at the helm of the Bank of Lithuania
Fed’s arch hawk Hoenig to retire in the autumn
Hoenig reaches mandatory retirement age and will leave in October; selection committee established to ensure replacement is found in time to allow a smooth transition
New deputy governor for the South African Reserve Bank
Director-general of South African treasury Lesetja Kganyago to move to Sarb in May
High food prices drive political instability: IMF paper
Fund paper shows rising international food prices attributes to political instability in low-income countries
IMFC names Tharman Shanmugaratnam as new chair
Singapore’s finance minister and former central bank head succeeds Youssef Boutros-Ghali, Egypt’s former finance minister
Déjà vu and monetary policy: Lockhart’s recent comments
A lack of consideration for price pressures signals that Fed officials continue to misconstrue the nature of central bank independence, Thomas Cargill writes
Fed profits soar to record $82 billion
Federal Reserve posts another record profit, trumping 2010 by $28 billion; $79 billion transferred to Treasury
Barclays shows interest in Maiden Lane II assets: reports
Reports that Barclays may consider an offer for residential mortgage-backed securities held in New York Federal Reserve’s Maiden Lane II portfolio could thwart AIG bid
SNB signs MoU on membership to Bank Council
Federal Department of Finance and the Swiss National Bank sign Memorandum of Understanding on criteria for appointments to central bank’s governing body
Trichet urges rules-based approach to excessive deficit reforms
European Central Bank president Jean-Claude Trichet calls for use of strict rules to adhere to excessive deficit reduction procedure
New York Fed enters the blogosphere
Regional Fed’s research and statistics group project aims for “direct dialogue” with web users