Central Banks
Bernanke warns Congress on fiscal deficit
Fed chairman warns limiting debt ceiling self defeating, says US must choose between “careful and deliberative process” of financial policy change or “much more painful” crisis response
ECB highlights funding vulnerabilities in euro area banks
European Central Bank June 2011 Financial Stability Review shows funding vulnerabilities remain "Achilles heel" for euro area banks
Government representative quits Costa Rica’s board
Government representative on central bank board resigns; leaves body without power to make decisions on foreign exchange policy
Risk & Return Brasil: Supervisors need to be more curious, says Donizeti
Authorities should put less faith in numbers and what they are told by banks, says top Brazilian supervisor
Sweden’s Ekholm not in favour of current account targets
Riksbank deputy governor Karolina Ekholm says central banks should not set targets for how large their deficits and surpluses can grow
Toxicity Index levels rising: RBI report
Reserve Bank of India June 2011 Financial Stability Report finds evidence that exposure to inter-bank distress is creeping upward
South African Reserve Bank – Annual Report (2010–11)
South African Reserve Bank 2010–11 Annual Report says there is no obvious threat to domestic financial stability
Basel working group calls for 'explicit' financial stability mandate
Working group on financial stability governance calls for explicit and clear mandates for central banks
IMF disqualifies Fischer
IMF tells Stanley Fischer he cannot run for the role of managing director because of age; Fischer “proud and happy” to remain in role at Bank of Israel
China blames loose global monetary policies for inflationary pressures
People’s Bank of China brings price control to the forefront; says loose global monetary conditions have pushed up inflation expectations
BoE’s Weale calls for early rate hike
Bank of England external Monetary Policy Committee's Martin Weale says early rate increase will give central bank more room to manoeuvre in future
West African central bankers receive training in debt managment and corporate governance practices
West African Institute for Financial Management works with IMF and World Bank to train region’s central bankers
BoE paper on development of central banks' lender-of-last-resort function
Bank of England study looks into evolution of clearing and settlements systems and central banks' progression as providers of liquidity
Fischer joins IMF race
Governor of the Bank of Israel announces candidacy to become IMF managing director; calls chance to run an “extraordinary and unplanned opportunity”
Queen knights King
Bank of England governor Mervyn King receives knighthood from the Queen in her birthday honours list
Trichet highlights advanced economy failures
European Central Bank president Jean-Claude Trichet says crisis highlighted weaknesses in strategies of advanced economies; stands firm on Greece action shortly before S&P downgrades sovereign
Bank utilises Google in analysis
Bank of England paper says internet search tools offer accurate analysis of current economic trends
Interview: John Mendzela
John Mendzela is a specialist in central bank governance and strategic management. Here he discusses the gaps in central bank governance highlighted by the crisis and presents some potential fixes