Central Banks
Finland announces markka conversion deadline
Finns have until February 29 to change markka banknotes and coins to euro; currency outstanding valued at $386 million
Current economics paradigm 'ill-suited' to capture financial instability: BIS paper
Bank for International Settlements study authored by Claudio Borio says rethink of financial stability role in macroeconomics does not go far enough
Denmark broadens temporary collateral facility
National Bank of Denmark widens banks' access to credit facility by expanding existing collateral rules to include bank credit claims
UK reveals design of new banknote
Bank of England to release new £50 banknote in November; design features British businessmen Matthew Boulton and James Watt
RBA announces representative in China
Ivan Roberts to open Reserve Bank of Australia representative office in Beijing; will assist with monitoring of economic and financial conditions in China
FSA’s Turner considers more active role for macroprudential policy
Financial Services Authority chairman Adair Turner says new macroprudential policy tools could play a more active role in ensuring socially optimal level of credit in economy
Bank of Lithuania opens its doors to the public
Bank of Lithuania invites the general public to see inside the bank as part of the joint birthday celebration of the central bank and the national currency
RBNZ reviews policy choices to tackle macroeconomic imbalances
Reserve Bank of New Zealand paper says policies that promote savings in the private and public sector can help overcome macroeconomic imbalances
Eurozone crisis hit financially constrained firms hardest: IMF paper
Fund study says eurozone crisis caused greatest distress among firms with greater financial constraints and increased exposure to peripheral euro countries
Application process opens for board member at Bank of Finland
Application process opens to find replacement for Pentti Hakkarainen whose five-year term ends in February
New president fires low-inflation champion Fundanga
Central Bank of Zambia governor Caleb Fundanga fired by new president; no replacement announced yet for governor praised for low inflation efforts
SNB considers ceasing shareholder dividend payments
Swiss National Bank vice-chairman says central bank may stop paying dividends to its shareholders in order to rebuild its depleted capital base
Leaked letter reveals ECB austerity demands on Italy
Trichet and Draghi asked for 'pressing action' from Italian authorities; puts rumours of such communication to rest
Government debt no longer risk-free: Canada’s Macklem
Bank of Canada senior deputy governor Tiff Macklem says government debt in advanced countries is unlikely to regain its risk-free status
RBI’s Khan favours balanced policy orientation to EME capital inflows
Reserve Bank of India deputy governor Harun Rashid Khan says a variety of policy tools are needed to manage capital inflows in emerging markets
Germany backs new EFSF powers
Concerns over firepower of European Financial Stability Facility remain despite its new enhanced powers after Berlin passes new legislation with majority vote
Kuwait central bank employees protest over pay
Central bank workers want salary increases; latest government workers to demand more after oil sector employees receive up to 66% wage hike