Governance
Buba’s Nagel set to replace Sarrazin
Western states pick Bundesbank head of market operations Joachim Nagel to take Thilo Sarrazin’s place on executive board
UK arrests two in Securency raids
Officials take two men into custody in Securency graft probe as coordinated raids unfold in Australia, Britain and Spain
Angola appoints new governor
Commercial bank head José de Lima Massano joins National Bank of Angola following government reshuffle
Basel Committee demands more rigorous governance standards
Basel Committee on Banking Supervision issues new corporate governance principles for banks; calls for independent chief risk officer
Senate confirms two out of three Fed directors
Last-minute deal seats Yellen and Raskin, Diamond turned down
OECD reappoints Gurría as secretary-general
Angel Gurría commits to second term as secretary-general at Organisation for Economic Cooperation and Development
Hungary’s Simor asks for independence to be written in statute: reports
National Bank of Hungary governor András Simor reportedly asks lawmakers to put central bank independence in constitution as controversial pay cut takes effect
Australia adds financial stability to monetary policy mandate
Australian government amends Reserve Bank of Australia’s monetary policy remit to include financial stability
CNB creates stability wing in bid to beef up systemic oversight
Czech National Bank separates financial stability and economic research department; says independent department move will enhance financial stability mandate
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