Central Banks
US watchdog highlights discrepancies in Fed emergency programmes
US Government Accountability Office says Fed on occasions failed to properly document processes and decisions during crisis; says opportunities exist to strengthen risk management practices
ECB’s Constâncio stresses commitment to T2S settlement platform
First ever Europe-wide platform for settlement of bonds and equities trades has ECB’s full support; will play a crucial role in future of the single market, says Vítor Constâncio
SEC report reveals failings at top three rating agencies
A report released by the US SEC reveals S&P, Moody's and Fitch all still have significant failings in their operations
Peruvian president reappoints governor and chooses new board members
Julio Velarde retains governorship of the Central Bank of Peru; three university professors designated as board members
Fed liquidity helped US escape Great Recession: NY Fed paper
New York Federal Reserve study says Fed liquidity policies helped economy avert another Great Depression
Globalisation creates monetary policy challenges for EMEs: BIS report
Bank for International Settlements report says emerging market monetary policies are becoming much more complex due to integrated global financial system
Buba’s Dombret opposes EU Tobin tax
Bundesbank executive board member Andreas Dombret warns financial transaction tax could overburden financial institutions
EU lawmakers agree on Stability and Growth Pact overhaul
Enhanced Stability and Growth Pact gets approval of European Council and Parliament; European finance ministers clear Asmussen for ECB executive board
Poland moves to halt zloty decline
National Bank of Poland intervenes in foreign exchange markets for third consecutive week to curb depreciation of zloty; Central Bank of Brazil also acts to smooth flow of real against dollar
ECB’s Bini Smaghi revisits Triffin dilemma
European Central Bank executive board member Lorenzo Bini Smaghi says tension persists between short-term domestic policy incentives and stability of international monetary system
Bernanke asks for help to stimulate the economy
Bernanke reiterates Fed is ready to act; calls on all policymakers to work towards lifting the economy
Financial Stability Board finalises Sifi measures
FSB settles on plan to tackle the 'too big to fail' problems posed by systemically important financial institutions; measures will be sent to G-20 summit in November
Bank of Canada paper measures systemic importance of banks
Bank of Canada study builds framework to identify systemically important financial institutions
IMF paper identifies scope for inflation targeting in Mena countries
Fund study says central banks in Middle East and North Africa can follow emerging market trend in adopting inflation-targeting frameworks
RBI’s revised securitisation guidelines could ‘kill’ Indian market
Latest Reserve Bank of India revised draft guidelines for securitised transactions draw criticism; one lawyer says the rules would "nearly kill" securitisation in the country
Greece will receive bailout funds despite missing target, say analysts
Greece finance ministry says country will fall short of its fiscal deficit reduction target for 2011; analysts still expect Troika to approve sixth bailout tranche
FPC explains capital requirement switch
FPC explains worries about credit availability to business; says banks must know that capital and liquidity buffers are "useable" in a crisis situation
ECB’s Noyer says larger EFSF ‘unrealistic’
ECB governing council member says EFSF will not be made bigger; is open to schemes that would offer greater leveraging opportunities for money already committed
IMF paper incorporates financial sector risk in monetary policy models
Fund study examines risks of including financial stability indicators in monetary policy reaction models
Demise of cash ‘vastly exaggerated’: MAS’s Menon
Monetary Authority of Singapore managing director Ravi Menon says he expects cash to continue to have a crucial role in economy in future