Central Banks
Online banking poses challenges: RBI’s Padmanabhan
New executive director responsible for the IT, payment and settlement systems and foreign exchange department discusses challenges of online and telephone banking
Obama acknowledges AAA credit rating at risk
Obama says result of downgrade would be “like a tax on everyone” with higher interest rates; remains hopeful that there are “plenty of ways out of this mess”
Swiss National Bank posts large loss due to surge in currency
SNB records Sfr10.8 billion ($13.7 billion) loss for the first half of 2011; blames strong appreciation of Swiss franc
Asian Development Bank encourages regional policy cooperation
The Asian Development Bank wants to see increased regional policy cooperation to ensure more balanced and sustained growth in emerging East Asia
Questions raised over UK’s FX volume surge
Market participants attribute a range of factors to the 23% rise in FX turnover in the UK reported by the Bank of England's FX Joint Standing Committee on July 25
Turkmen central bankers jailed
Three central bank officials jailed; latest in long history of dramatics at the country’s central bank
Evolving UK and US macroeconomic dynamics investigated: Bank paper
Bank of England working paper uses model of deterministic structural change to chart the changing UK and US macroeconomic dynamics
Elderfield sets out the future of Irish banking
Deputy governor lays out plans to strengthen and restructure banks, improve governance and supervision and manage credit risk
Fed warns of Dodd-Frank clash with Basel III
Proposal to remove references to credit rating agencies conflicts with Basel III wording; Fed faces tough process to find alternative standards of creditworthiness
Bank’s Miles allays fears over economic costs of Basel III
Bank of England external Monetary Policy Committee member David Miles says Basel III requirements will not have negative bearing on economy, as long as the transition is gradual
Ireland copies UK in new central bank law
Central bank can now order financial services providers to have an independent expert prepare a report on any regulatory matter; similar to UK provision
Belarus new chief hails from biggest state bank
Nadezhda Yermakova leaves Belarusbank to take over as head of the central bank
Cross-border flows stalling in euro area: ECB paper
European Central Bank study highlights concerns over resumption in euro area cross-border financial flows
IMF paper observes heterogeneous interest rate pass-through
Fund study identifies factors that both facilitate and impede monetary policy pass-through to economy and financial markets
Draghi backs ‘consistent’ implementation of Basel III
In his foreword to a new book, Mario Draghi says consistent implementation of Basel III rules must be achieved
Lagarde sets out ‘four-C’ plan to keep IMF relevant
Christine Lagarde says IMF must focus on clients and connections, be comprehensive and credible; reform of voting system is a top priority
Greek debt guarantees were vital for monetary policy: Estonia’s Lipstok
Bank of Estonia chairman Andres Lipstok says pledge by eurozone leaders to provide European Central Bank with guarantees for Greek collateral was very important for its price stability mandate
South Sudan currency exchange begins in earnest: images
Senior officials in South Sudan exchange Sudan pound for new South Sudan currency; central bank sets deadline for public to exchange old banknotes for new ones
Hungary holds as inflation moves closer to target: minutes
National Bank of Hungary minutes shows decline in inflation suggested return to 3% target would not necessitate a monetary tightening
Microfinance lenders' global exposure increasing: IMF paper
Fund study shows that microfinance lenders are becoming more affected by events in international markets post-crisis
Robert Mundell: How to save the euro
Nobel laureate Robert Mundell says eurozone can be saved with three-pronged policy solution, ‘for the short run, intermediate run and long run’
Hawkish RBI in ‘surprise’ rate hike
Reserve Bank of India shocks markets with 50-basis point rate hike in a bid to curb rising inflationary pressures; further rate hikes expected this year
CIC adopts more bullish investment strategy
China Investment Corporation 2010 Annual Report shows major shift in sovereign wealth fund's investment strategy towards equities and alternative assets