Central Banks
EBA finds €114.7 billion capital shortfall in Europe
European Banking Authority publishes recommendation and final results of bank recapitalisation plan; part of co-ordinated measures to restore confidence in the banking sector
Promotions and reappointments at the Chicago Fed
Federal Reserve Bank of Chicago announces new deputy chairman, reappointments of board chairman, two directors and Federal Advisory Council representative; also promotions in three internal groups
Bank Negara Malaysia MobileLINK bus begins tour
Malaysian central bank launches mobile customer service bus; part of efforts in promoting financial inclusion by extending the outreach programme to a wider community
Sluggish growth outlook forces ECB to take drastic action
European Central Bank lowers rates by 25 basis points as sovereign debt crisis weighs in on growth; Governing Council reveals new liquidity measures to ease funding conditions
Management of South African Mint Company suspended
South African Reserve Bank announces mystery 'technical issues' uncovered; top management suspended with immediate effect
Osborne to drive through BoE’s new supervisory powers
UK chancellor wants to drive through legislation granting the Bank of England statutory power for prudential supervision; ring-fencing left out of Financial Services Bill
US regulatory agencies issue new market risk capital rule proposals
US federal bank regulatory agencies remove references to rating agencies in new market risk capital rule proposal; change aids compliance with Dodd-Frank Act
Cœuré progresses towards ECB executive board membership
ECB Governing Council adopts Council of the European Union opinion and supports Benoît Cœuré to become a member of the executive board
Fiji governor calls for improvement in securities trading regulation
Barry Whiteside says international co-operation is needed to keep up with market developments in securities trading
Kamin confirmed as permanent replacement for Sheets at Fed
Steven Kamin is made permanent director of the Division of International Finance at the Federal Reserve Board; has been acting head since Nathan Sheets resigned in August
SARB issues bleak Quarterly Bulletin
Latest quarterly bulletin from South African Reserve Bank says economy has grown at ‘lacklustre’ pace; inflation hit upper limit of target range in October
Kohn talks of macro-prudential policy ‘infancy’
Donald Kohn tells US audience about the UK’s Financial Policy Committee; explains the “consistent and systematic” application of macro-prudential policies is still developing
IMF researchers label asset managers collateral ‘mines’
Paper highlights lack of attention paid to rise of asset managers as a major source of funding for banks through shadow banking system
Czech prime minister wary of central bank losing independence
Petr Nečas does not want selection method of top central bank officials to change; warns Senate-agreed choices could lead to the politicising of the board
CB.com panel discusses changes in reserve management functions
CentralBanking.com poses the question: What do central banks want from reserves and reserve managers? Panellists discuss how the financial crisis has altered the role of reserve managers
Choongsoo warns of lurching global crisis
Bank of Korea governor Choongsoo Kim says world risks another crisis if global imbalances are not addressed
Credit subsidies can counteract bust cycles: IMF paper
Fund case study of Serbia shows use of credit subsidies during the financial crisis was effective in mitigating decline in output