Governance
Venezuela tightens grip on FX in bid to close down unofficial market
Central Bank of Venezuela to attempt to curb the depreciation of the bolivar by taking control of foreign exchange
Trichet reaches out to German public
European Central Bank chief Jean-Claude Trichet participates in several interviews with German media to assuage fears over the central bank’s entry into bond markets
Ten issues for regulators to consider
René Smits devises ten key issues that European financial legislators must consider when constructing the post-crisis regulatory framework
Interview: Peter Praet
Fortis’s collapse all too well illustrated the difficulties in saving cross-border European banks. But the ideal solution, a European crisis resolution authority, remains a distant dream. However, there is an existing, yet perhaps unusual, candidate from…
Albania accused over hotel deal: reports
Albanian central bank buys country’s oldest hotel from government, opposition politician reportedly alleges misconduct
UK coalition gives Bank lead regulatory role
Conservative and Liberal Democrat parties agree to put Bank of England at the centre of financial regulation on Wednesday, stop short of abolishing FSA
Fed audit clause unanimously approved for reform bill
US lawmakers vote 96-0 in favour of including controversial amendment to audit the Fed in financial sector reform bill
Ex-governor Fraser knocks RBA’s rapid hikes
Former Reserve Bank of Australia chief Bernie Fraser says central bank has been too eager in its rate hikes given the European debt crisis and its potential impact on growth worldwide
'Audit the Fed’ clause weakened on independence fears
Senator who proposed full Fed audit drops demands to review discount window and open market operations, White House and Fed pressure seen as key
Controversial ‘audit the Fed’ amendment stirs blogosphere
Independent senator proposes clause that gives government audit office extensive powers to review Fed’s decisions, support mounts among lawmakers and commentators
Gono retains top job in new Zimbabwe board
Reserve Bank of Zimbabwe governor Gideon Gono shock survivor of management cull; nine new board members appointed to improve governance standards
Investors’ hold on Sarb to be weakened
South African cabinet approves bill of amendments to central bank law that would disrupt formation of shareholder blocs and enhance corporate governance standards
Obama picks Yellen for Fed vice-chair
US President confirms speculation by nominating San Francisco Fed chief Janet Yellen as central bank’s deputy head, economist Peter Diamond and state regulator Sarah Raskin proposed for the board
Election uncertainty clouds future of FSA, Bank
Regulator could be swallowed by central bank if Conservatives win, but polls and analysts divided on most likely outcome
Incoming party renews efforts to topple Hungary’s Simor
Political heat on National Bank of Hungary governor András Simor intensifies as deputy chief of soon-to-be ruling party calls for his resignation
Ireland sets pace with governance reform proposals
The Central Bank and Financial Services Authority of Ireland release proposals to end poor practices at financial institutions
Hungary cuts as critical opposition sweep to power
National Bank of Hungary trims rates by 25 bps as opposition election victory puts central bank on collision course with incoming government; former governor expected to be named finance minister
Israel welcomes new law, no sign of rate-setters yet
Bank of Israel law creating a six-member Monetary Committee officially passed and governor Stanley Fischer thanks those who contributed, government has not yet begun search for external members
Fed profits leap by 50%
Federal Reserve's profits shoot to $53.4 billion allowing record transfer of $47.4 billion to US Treasury; value of Maiden Lane vehicles climbs $5.6 billion after 2008 loss
Finland's Salo to step down
Bank of Finland board member to depart in October