Central Banks
Portugal succeeds at auction but fails to sway analysts
Portugal sells $1.6 billion worth of government debt at auction, but commentators remain wary of fundamentals
Argentinean central bank okays $7.5 billion loan to state
Central Bank of Argentina approves loan of $7.5 billion of reserves to repay bondholders; move is central bank’s latest measure to bail out government
Fed uncooperative and audit insufficient, claims influential senator
US senator Bernie Sanders dissatisfied with Federal Reserve’s response to further questions on audit of emergency lending facilities
IMF paper identifies de-dollarisation drivers in South America
Fund study says de-dollarisation of deposits and development of local capital markets key factors in Latin American countries
IMF’s Lipsky calls for major US fiscal consolidation
IMF first deputy managing director, John Lipsky, says measures to ease debt burden in Unites States could have broader benefits for global recovery
South Korea promotes use of SWF to acquire foreign businesses: reports
Korea’s Presidential Council on National Competitiveness head Kang Man-soo says Korea Investment Corporation can help expand mergers and acquisitions abroad
Fed profits soar to record $80.9 billion
Federal Reserve posts another record profit, trumping 2009 by $27.5 billion; paves the way for $78.4 billion transfer to US Treasury
Barclays’ Diamond argues case for universal banking
Barclays' chief executive Bob Diamond adamant bank’s model funds cheaper lending and is less risky
Oberthur given takeover deadline as De La Rue spat intensifies
French banknote printer told to “put up or shut up” by 7 February; ruling comes on the heels of efforts to force De La Rue to clarify relationship with RBI, failed November takeover bid
High inflation stirs banknote shortage in Argentina: reports
Inflationary pressures in Argentina create shortage of high-denomination banknotes forcing long queues at cash machines
Spain’s monetary policy could not have prevented housing bust: IMF
Fund study says retaining the peseta would not have necessary prevented the housing collapse in Spain over the last decade
Trichet proposes macroeconomic scoreboard system
European Central Bank president Jean-Claude Trichet outlines ideas for a new macroeconomic framework for euro area
BIS appoints Chile’s De Gregorio to chair regional consultation group
Central Bank of Chile governor De Gregorio succeeds former Central Bank of Brazil governor Henrique Meirelles as head of Bank for International Settlements Consultation Council for the Americas
Shirakawa elected vice-chair of BIS board
Bank of Japan governor Masaaki Shirakawa picked to succeed Hans Tietmeyer as vice-chair of Bank for International Settlements’ board of directors
Shekel gains leave Bank of Israel cautious over rate hike
Bank of Israel minutes show members of the central bank’s narrow forum feared interest rate hikes would lead to further gains in the shekel
It's the forest stupid
Dodd Frank fails to deal with systemic risk, former chairman of the Federal Deposit Insurance Corporation William Issac argues
What Basel III means to us
The Basel Committee on Banking Supervision published the final text of Basel III on December 16, which introduces new minimum capital requirements, two liquidity ratios, a charge for credit value adjustment and a leverage ratio, among other things. Risk…
Government delay holds up launch of Bank of Israel’s new rate-setting body
Bank of Israel awaits government’s selection of three external members to new Monetary Committee seven months after passage of law for new interest rate-setting measures
QE2 will create jobs, Yellen tells critics
Federal Reserve vice-chair Janet Yellen says further quantitative easing will address weak labour demand and generate roughly 700,000 jobs
Sudan bans some imports as forex shortage looms
Bank of Sudan bans imports of luxury items, goods with local substitutes, to conserve foreign currency; currency wobbles on secession, oil fears