Central Banks
ADB’s Kuroda says governance and supervision reform needed in Asia
Haruhiko Kuroda believes improvements in governance and regulatory reform are needed to enhance Asia’s future growth prospects
Basel Committee proposes scrapping VAR
Review recommends switch to expected shortfall, postpones CVA charge overhaul, and retains split between banking and trading books
Bank of Korea minutes highlight inflation fears
Latest Bank of Korea financial council meeting minutes indicate inflation viewed as a concern while growth remains at 'sound' levels
Bank of Canada unveils new banknote
New C$20 polymer banknote unveiled by Bank of Canada; enhanced security features aimed at thwarting counterfeiters
Draghi calls for growth to top the agenda for eurozone
ECB president Mario Draghi calls for 'growth compact' to complement fiscal compact in eurozone; says individual countries need to meet responsibilities on fiscal consolidation
Reserve Bank of New Zealand’s Spencer outlines macro-prudential initiatives
New Zealand central bank deputy governor outlines macro-prudential policy initiatives and says the reserve bank expects to take the lead on implementation
Dombret calls for faster EU action on regulation of Sifis
Deutsche Bundesbank's Andreas Dombret calls for EU to act faster on regulation of Sifis; says individual countries implementing their own frameworks creates ‘problems for the future'
Riksbank minutes show MPC split on rate hold
Swedish central bank minutes reveal two members of monetary policy committee wanted a rate cut; low growth forecast and high unemployment cited as reasons
Gensler confident clearing location requirements will not be imposed
Regulators are unlikely to insist local currency OTC derivatives trades be cleared domestically, says CFTC chair Gary Gensler
Qatar central bank to launch interbank rate
Qatar Central Bank to launch interbank rate; first entry into market for gulf state, which will offer fixings across eight categories
IMF research highlights benefits of dynamic loan-loss provisioning
International Monetary Fund working paper advocates dynamic approach to loan-loss provisioning to smooth costs over the credit cycle
King admits BoE should have done more to prevent banking crisis
Bank of England governor says central bank should have done more to prevent crisis despite its limited powers to act; says new resolution mechanism will not work for global banks
Dallas Fed chief calls for taxes on 'too-big-to-fail' financial institutions
Dallas Fed's Richard Fisher calls for more action on 'too-big-to-fail' entities; says new taxes should be introduced to encourage institutions to shrink balance sheets
Fed’s Tarullo laments delays in shadow-banking reform
Federal Reserve’s Daniel Tarullo hits out at slow speed of money market and repo market reform; urges debate on functions that ‘shadow banks’ should perform
IMF’s Shinohara sees three ‘brakes’ on global growth
IMF deputy managing director tells ADB annual meeting that fiscal consolidation, bank deleveraging and foreclosures in the US pose substantial risks to global growth
Netherlands Bank appoints new chair of supervisory board
Alexander Rinnooy Kan to take office on July 1; replaces Fokko van Duyne, who has served maximum allowed term
Early warning system for systemic risk a 'huge challenge', say experts
The Office of Financial Research is charged with supplying data to help US regulators assess potential risks to the financial system but some experts are sceptical over what data should be used
Euro crisis drives up use of collateral in OTC derivatives, finds survey
Trouble in the eurozone increased use of collateral in over-the-counter derivatives market, according to trade association survey
IMF research examines correlation between structural reforms and economic convergence
International Monetary Fund working paper finds that specific economic reforms can help improve the speed at which regional convergence is achieved
BoE statistics show fall in business lending in March
Bank of England lending statistics show decline in business lending and rise in consumer lending in the UK during March
Carney calls for competitiveness gains to drive exports
Governor of the Bank of Canada calls for exporters to improve competitiveness; says there must be a focus on exporting to emerging economies
New deputy enforcement head at SEC
New York office chief George Canellos moves to Washington, DC