Central Banks
Canada's Duguay: terminating penny coin has no impact on inflation
Bank of Canada deputy governor Pierre Duguay says eliminating penny coin will pose little threat of inflation
Markets support Poland’s central bank nominee amid opposition murmurs
Stock market gains as analysts welcome the nomination of former prime minister Marek Belka to head the central bank; confirmation expected despite grumblings from opposition politicians
Angolan central bank loses monetary policy mandate
Parliament votes to change law so central bank can “merely participate” in monetary and exchange rate policy; government will have responsibility while central bank assists in implementation
Surge in foreign holdings of US Treasuries and agencies ends two-week slide
Data show holdings of US Treasuries and agency securities by foreign central banks with accounts at the Federal Reserve increased $18.2 billion on the back of two weeks of declines
ECB’s Bini Smaghi: Greece cannot default
ECB’s Lorenzo Bini Smaghi says an orderly default is simply not an option to solving Greece’s fiscal burden
Ex-Polish PM to head central bank
Poland's acting president nominates former prime minister and IMF European director Marek Belka for post of central bank president
China denies reviewing eurozone bond holdings
State Administration of Foreign Exchange dismisses reports that it is appraising euro asset holdings; follows surge in T-bill purchases last week
Richmond Fed's Lacker: poor incentives created financial crisis
Richmond Federal Reserve president Jeffrey Lacker says 'too big to fail' no reason to save creditors
BIS’s Cecchetti: change data collection to create “map” to stem crises
Bank for International Settlements’ chief economist Stephen Cecchetti suggests adapting existing statistical reporting frameworks in pursuit of “holy grail” of systemic risk monitoring
Bernanke says central bank independence essential during periods of QE
Federal Reserve Chairman Ben Bernanke says central bank must retain independence during periods of unconventional policy
Missed mortgage payments spike in Ireland
Thirteen percent of mortgage payments overdue by more than 90 days; chief regulator Matthew Elderfield says there is no simple solution to the problem
Libor climbs as uncertainty in European markets grows
Libor rises to highest in more than ten months as lending in European markets slows down
IMF flags concern over Reserve Bank of Zimbabwe’s governance
IMF cites severe governance failings as Zimbabwe’s central bank maintains Gideon Gono as chair of its new governing board.
Portugal's Constâncio: markets cannot self regulate
Bank of Portugal governor Vítor Constâncio discusses new vision of European regulation
Shirakawa wants financial stability as primary mandate
Governor of the Bank of Japan believes central banks' key task should be to achieve a stable financial environment; says higher inflation targets would do little good at the zero bound
Philippines' Tetangco applauds microfinance steps
Central Bank of the Philippines' governor Amanda Tetangco says banks must embrace micro lending
Sarb - Banking Supervision Annual Report (2009)
Sarb banking supervision annual report puts forth proposals on compensation practices to be used in new banking sector legislation
Brussels backs bank tax to fund new resolution network
European Commission calls for a network of resolution funds to bear cost of winding down firms; cost covered through levy on lenders
Microfinance pioneer laments crisis as missed opportunity
Grameen Bank founder Muhammad Yunus says governments passed up chance to change financial model in a way that would have better served the needs of society
UAE governor urges sovereign funds to repatriate
Governor of the Central Bank of the United Arab Emirates Nasser Al-Suwadi appeals to sovereign wealth funds in the region to reject pre-crisis strategy of investing in companies based in advanced economies and instead inject funds into the Gulf region
Bank's Posen on western economies turning Japanese
Bank of England rate-setter Adam Posen discusses relevance of Japan's deflationary experience to western economies today