Central Banks
Bank of Thailand opens shop in China
People's Bank of China says Bank of Thailand's new representative office in Beijing will aid cooperation
Nigeria limits state bond holdings; cleans up microfinance
Central Bank of Nigeria places limits on banks’ holding of state government bonds; revokes over a quarter of microfinance licences after serious problems revealed in sector
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
BoJ doing all it can to bolster growth, says Shirakawa
Bank of Japan governor Masaaki Shirakawa points to central bank’s multiple efforts to boost activity
Fed's Alvarez favours balanced incentive compensation design
Federal Reserve general counsel Scott Alvarez says overly restrictive compensation packages may create risk to organisations
ECB’s Tumpel-Gugerell outlines challenges for ESRB
ECB executive board member Gertrude Tumpel-Gugerell says European Systemic Risk Board must overcome limitations to measuring systemic risk
UK banking commission moots reforms
Commissioners stress they have an open mind as to which structure will best suit British banking industry
New York Fed research finds flaws in inflation expectations polls
New York Federal Reserve research uncovers faults in measuring inflation expectations; says questions on rate of inflation rather than price level provide better guide to future uncertainty
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
Rate decisions this week
Majority of central banks stand pat as uncertainties persist over growth, price pressures; Iceland cuts while Turkey, Uruguay tighten policy
RBNZ’s Spencer: monetary policy will have more bite
Reserve Bank of New Zealand deputy governor Grant Spencer says cautious lending means monetary policy will have more bite than in previous years
No easy alternatives to credit ratings
US regulators are right to look to curb their reliance on credit ratings. However, it will prove tricky to find viable alternatives
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
BIS must fix data gaps: Bank paper
Bank of England paper identifies specific information gaps in cross-border banking statistics published by Bank for International Settlements; improvements thought to be under way
Norway’s Gulbrandsen: benefits of regulation outweigh costs
Norges Bank’s executive director of financial stability Kristin Gulbrandsen says tight regulation would have net social benefit
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
US to launch financial stability council next week
Financial Stability Oversight Council to hold first meeting on 1 October
Bank of Russia wants to scrap kopek coin
Russian central bank proposes that one and five kopek coins be abolished due to high metal prices and low demand
BIS’s Caruana lauds Basel III
Bank for International Settlements general manager Jaime Caruana spells out importance of Basel III capital reforms
Investors demand premium for Portuguese debt
Auction results show rising cost of Portuguese debt, analysts say investors are sending message to government to tackle deficit
BoE: higher probability of further stimulus
Bank of England Monetary Policy Committee minutes show members felt more stimulus measures may be required to steer economy towards recovery
Price stability must remain top priority: SNB’s Jordan
Swiss National Bank’s Thomas Jordan flags difficulties in using monetary policy to counter financial imbalances
Bank’s Bailey places public at heart of stability remit
Bank of England’s Andrew Bailey says public acceptance of stability goal necessary to stave off future crises
Summers quits Obama’s economic team
Chief adviser to President Obama, Lawrence Summers, announces departure from National Economic Council at end of year