Central Banks
HKMA’s Chan happy with pace of renminbi internationalisation
Norman Chan accepting of need to test the offshore market with step by step internationalisation of renminbi; urges banks to get ready for trade using Chinese currency
Posen calls for UK version of Fannie Mae
Bank of England MPC external member Adam Posen says establishment of government-sponsored entities would make up for credit short fall in lending markets; calls for immediate quantitative easing
First regulatory co-operation council meeting held in New Zealand
Council of Financial Regulators meets; confidential discussions focus on identifying trends and issues and co-ordinating responses to them
South Korea advertises for new reserve manager
Bank of Korea seeks reserve manager; follows first gold purchase for years this summer
UK ring fence poses legislative challenges
ICB stops short of asking for complete separation of retail arm from investment operations; how the government will legislate on the proposals is still unclear
Sensible ideas from Vickers – but are they too late?
As the banking industry sits on the brink of another crisis, Robert Pringle asks, has the ICB report come too late?
Target2 offers useful liquidity monitoring tool: Netherlands Bank paper
Netherlands Bank study says Target2 payments systems can identify early signs of bank illiquidity
Early monetary exit risks return to recession: KC fed paper
Kansas City Federal Reserve study shows an early monetary policy exit can lead to a double-dip recession
Bank of Israel narrow forum backs rate hold
Bank of Israel minutes show narrow forum monetary policy members were unanimous over decision to hold rates due to domestic and global outlook
Germany names Asmussen as Stark’s successor
Germany’s finance minister, Wolfgang Schäuble, nominates his deputy Jörg Asmussen to replace Jürgen Stark on the European Central Bank’s executive board
BoJ minutes outline central bank's QE strategy
Bank of Japan minutes show boost in asset purchase programme aimed to influence longer end of yield curve; confirms intervention in yen foreign exchange markets
Stark resignation marks turbulence at ECB
European Central Bank executive board member Jürgen Stark steps down as tensions flare in Frankfurt
Innovation in payments systems: Fed’s Lacker
Jeffrey Lacker discusses central bank's role in payments systems innovation
Mauritius launches 'overdue' cheque truncation system
Bank of Mauritius governor Rundheersing Bheenick says internal turf battles delayed launch of new cheque truncation system
Lagarde adds to pressure on G-7 meet
Lagarde calls for global action; Canada set to raise dissatisfaction with Swiss franc exchange rate limit at G-7 gathering in France
China moves closer to renminbi inclusion in SDR
Comments by Chinese officials hinting renminbi will be fully convertible by 2015 open door to inclusion of currency in IMF’s special drawing rights basket
Bernanke stays tight lipped on further stimulus
Ben Bernanke disappoints once again with bland speech; offers no hint of future stimulus
Carstens content with Mexican position
Governor of Mexican central bank says country is in a strong policy position; ready to act if global economy worsens