Central Banks
IMF: toxic-debt bill to hit $4 trillion - report
The International Monetary Fund (IMF) is allegedly set to release new forecasts showing the cost of writedowns could reach $4 trillion, a leading British newspaper has reported.
Renminbi should be added to SDR basket: Mundell
Robert Mundell, a Nobel Prize-winning economist, has called for the International Monetary Fund to add the renminbi to the list of currencies represented in its special-drawing-rights (SDRs) basket.
Sri Lanka names four new deputies
The Central Bank of Sri Lanka will promote four assistant governors to the rank of deputy in the coming months.
SDR injection inflationary, ECB's Stark warns
Jurgen Stark, a member of the European Central Bank's executive board, has panned the G20's decision to create $250 billion-worth of special drawing rights (SDRs).
Fed's Warsh: panic may have long-run impact
The panic that has marked the current financial and economic turmoil may also have long-run implications, said Kevin Warsh, a governor at the Federal Reserve.
Hong Kong's banks' have minimal liquidity risk
Despite a deterioration in liquidity conditions, default risks in the Hong Kong banking system are minimal, new research from the territory's central bank posits.
Monetary nonneutrality hard to explain
Imperfect information cannot explain the substantial degree of monetary nonneutrality, money affecting real variables, finds new research from the Bank of Canada.
Plans for GCC central bank veer off track
Gulf states have yet to decide on the location of a regional central banking hub almost seven months after they were scheduled to announce the hub's site.
Fed sets up sterling, yen, euro, franc swap lines
The Federal Reserve will be able to provide sterling, euro, yen and Swiss franc liquidity to banks with American operations after agreeing swap lines with the relevant monetary authorities.
IMF: eastern EU states must adopt euro - report
The International Monetary Fund (IMF) is alleged to have advocated fast-track eurozone accession for eastern European countries grappling with high amounts of external debt.
SNB's Hildebrand: crisis demands overreaction
The risks associated with doing too little are far greater than those of doing too much, Philipp Hildebrand, the vice-chairman of the Swiss National Bank, has warned.
Intervene with care in credit markets: BoJ's Noda
In conducting outright purchases of credit-market instruments to facilitate corporate financing, it is important to strike a balance, said Tadao Noda, a member of the central bank's rate-setting board has said.
Zimbabwe's Gono in the dock over unpaid wages
Employees of the Reserve Bank of Zimbabwe are taking Gideon Gono, the governor of the central bank, to court over his failure to pay them for three months, say local media reports.
Fed right choice for stability role: KC's Hoenig
The Federal Reserve must fill the role of financial-stability regulator, said Thomas Hoenig, the president of the Kansas City Fed.
Congress clamps down on Fed opacity
Pressure on the Federal Reserve to declare the recipients of its loans stepped up on Thursday after the Senate backed legislation which supports the outlawing of Fed borrowers' anonymity.
Fed bailout critic Stern to step down
Gary Stern, the president of the Minneapolis Federal Reserve and a vociferous critic of the Fed's recent bailouts, is to retire. He is the longest-serving senior Fed official.
Depth of Icelandic cut limited on krona concern
Members of the Central Bank of Iceland's monetary policy committee decided unanimously to cut the key policy rate by a full percentage point to 17% but resisted a steeper move owing to caution about the impact on the currency, the minutes for the 17 and…
BoE - Credit Conditions Survey
Lenders reduced the availability of secured credit to households in the three months to mid-March, according to the latest Bank of England Credit Conditions Survey.
Tarp could cost taxpayers more
The Congressional Budget Office has raised its estimate of the ultimate cost to taxpayers of the $700 billion Troubled Asset Relief Program (Tarp) by 51%.
Markets surge on G20 $1 trillion recovery package
Equity markets in Europe and the United States soared on Wednesday on news that global leaders had pledged an extra $1 trillion to spur an economic recovery.
Denmark's Bernstein plans to stock up on reserves
The National Bank of Denmark will need to maintain a larger foreign-exchange reserves stockpile than in recent years, said Nils Bernstein, the governor of the central bank.
Long-run forecasts a good anti-deflation tool
The Federal Open Market Committee's new long-run inflation forecast reduces the chance of a deflationary spiral, a new paper form the San Francisco Federal Reserve posits.
Agenda set for derivatives industry
A meeting at the New York Federal Reserve on Wednesday of the major players in the over-the-counter derivatives market culminated in a four-point agenda for the industry.
Fiji appoints new financial markets head
Faizul Ariff Ali is the new chief manager of the Reserve Bank of Fiji's financial markets division, the central bank announced on Wednesday.