Governance
Fed picks new head for banking supervision division
Michael Gibson takes over from Patrick Parkinson on January 1; Parkinson leaves Fed after 30 years of service
MAS’s Menon defends central bank’s governance structure
Monetary Authority of Singapore managing director Ravi Menon says central bank has proven it can act independently “within” government
Lithuania fires head of credit institutions supervision department
Kazimieras Ramonas unceremoniously sacked; new central bank department will take over financial market supervision in 2012
China central bank official nominated to join private bank’s board
Wang Hongzhang tipped to become chairman of the China Construction Bank Corporation after unanimous nomination to join board of directors; will leave People’s Bank of China after a long career there
Canada’s Murray identifies shift in global policy effort
Bank of Canada deputy governor John Murray highlights prospective benefits from co-ordinated policy response to current economic problems
Bank of Lebanon denies financial ties with Syrian regime
Governor Riad Salameh says Arab League sanctions on Syria will not apply as Lebanese central bank does not have any dealings with Damascus
Egypt renews governor’s term
Farouk El-Okda to serve another four-year term; new-look board of governors also revealed
France confirms Cœuré as ECB nominee
Finance ministry puts Benoît Cœuré forward as nominee to replace Bini Smaghi on European Central Bank’s executive board; firm favourite choice confirmed
National Bank of Hungary takes swipe at government
Central bank rejects cabinet selection of official to attend meetings on foreign currency loan problems in Hungary; sign of continued poor relationship
Delawari nominated as governor in Afghanistan
Afghan president Hamid Karzai proposes reappointment of Noorullah Delawari as governor of Bank of Afghanistan; last governor fled the country in fear of life
Iran appoints first female deputy governor
Iranian central bank governor appoints woman as deputy governor; takes on role of trying to stabilise fluctuating currency market in the country as sanctions are discussed worldwide
Liikanen predicts emerging market over-take in 2013
Bank of Finland governor sees emerging economies overtaking developed as soon as 2013; Bank of Finland renews terms of two key central bank figures
US senator renews call for ‘crippling’ sanctions on Central Bank of Iran
Senator Mark Kirk wants foreign financial institutions conducting transactions through the Central Bank of Iran to see access to US financial system cut off, and their US-based assets blocked
Central bank intervention in credit markets threatens independence, says Fed's Lacker
Richmond Federal Reserve president Jeffrey Lacker says intervention in credit markets diminishes central bank autonomy; CentralBanking.com poll suggests otherwise
IMF’s European director Antonio Borges quits
Director of European department, Antonio Borges, steps down for personal reasons; succeeded by strategy director Reza Moghadam in shake-up at Fund
Turkey and Nigeria in talks with China about currency swaplines
Governors of relevant central banks confirm Republic of Turkey and Nigeria are both in negotiations with the People’s Bank of China regarding currency swaplines
Central Bank of Egypt denies involvement in illicit money transfer
Central Bank of Egypt says it did not participate in the transfer of funds abroad pertaining to former leader Hosni Mubarak
ECCB disposes stake in former Stanford bank
Eastern Caribbean Central Bank sells assets from seized Bank of Antigua to Eastern Caribbean Amalgamated Bank
Israel Administrative Council holds first meeting
Bank of Israel holds first Administrative Council meeting after lengthy delay in appointing external members
Zambia governance void continues
Bank of Zambia website lists every position on the board of directors as “vacant”; still no new governor after Caleb Fundanga was fired
When private shares meet public interest
Jannie Rossouw and Adèle Breytenbach look at a unique group of central banks: the eight that are privately owned.
Interview: Alan Bollard
The governor of the Reserve Bank of New Zealand discusses the fallout from the financial crisis with Blair Baker.
Lorenzo Bini Smaghi to leave the ECB
Lorenzo Bini Smaghi will join Harvard University’s Center for International Affairs in January; ends term at ECB more than a year early