Central Banks
US lawmakers seal deal on reform bill
Members of the House of Representatives and Senate conclude the conference process; text includes part of the Volcker rule, surprise bank levy, and stronger-than-expected Fed audit clause
Old Lady: banks must reduce reliance on rating agencies
Bank of England calls for capital incentives for firms that rely less on external ratings; urges Basel Committee to go slow on introducing Basel III
Bank’s pledge to support growth could face internal resistance
Government repeats promise of loose monetary and tight fiscal policy even as officials within the Bank of England make the case that inflation is getting out of hand
Central banks’ holdings of US agency debt rise on dollar demand
Fed data show official-sector holdings of US agency securities rose for a 12th straight week; auction for seven-year US Treasury bills displayed growing demand for dollar denominated assets
Tuvalu joins IMF
Remote island of Tuvalu gains access to IMF resources after becoming 187th member at the Fund
Denmark’s Bernstein proposes UK-style merger between central bank and regulator
National Bank of Denmark director Nils Bernstein says collaboration between the central bank and Financial Services Authority will sharpen supervisory powers
FSA heads push back on regulator's abolition
Chairman and chief executive of the UK regulator say decision to break it up is ill-timed
Financial inclusion no easy task: Malaysia’s Ibrahim
Bank Negara Malaysia deputy governor Muhammad bin Ibrahim says financial inclusion has gained efficiency, but requires combined effort from country
Bank of Mexico: prices heterogeneous between sectors
Bank of Mexico study on price movements shows that prices vary considerably across sectors, with contrast greatest between unregulated and regulated sectors
Philly Fed: freedom of databases may improve market oversight
Philadelphia Federal Reserve study on macro-micro databases shows that had information been made readily available, the crisis may have been less pronounced
Kenya’s Ndung’u: long term financing key to housing sector growth
Kenyan central bank governor Njuguna Ndung’u says Finance Bill 2010 provisions will create long term financing and address excess demand for housing in Kenya
Norges Bank takes reputation poll
Norwegian central bank publishes outcome of its first ever reputation survey; poll finds central bank is doing well in public eyes, but could be more open
PNG’s Popoitai: inflation could get out of hand
Papua New Guinea central bank deputy governor Benny Popoitai says inflationary pressures are rising from escalation in capital inflows
Russian FX regime change ties rates closer to Europe: Bank of Finland
Bank of Finland study shows Russian interest rates moved more in line with Europe than the United States, following overhaul of exchange rate basket
Iceland poised to lift all capital controls
Central Bank of Iceland says full liberalisation could begin at the end of July, as króna continues to soar and inflation falls closer to target; draws on bilateral credit lines to boost reserves
Bank of Italy: location, not size instrumental to debt restructuring
Bank of Italy study finds debt restructuring of firms is more likely when located closer to borrowers
Demand and supply forces restriced credit: Bank of Italy
Bank of Italy study finds declines in demand and supply of credit dampened lending growth in Italian banks during financial crisis
Gold to put in sparkling performance: asset managers
Central bank reserve managers from around the world say gold will do better than any other reserve asset in 2010; metal’s importance to soar over near future
Bank’s Sentance in shock call to raise rates
Arch hawk argues inflation risks warrant quarter-point hike in rates
Agathe Côté named new Bank of Canada deputy
Bank of Canada adviser Agathe Côté named as replacement to Duguay after deputy governor retires