Central Banks
SARB - Monetary Policy Review
The heightened levels of global economic uncertainty are making monetary-policy decisions more challenging, notes the latest Monetary Policy Review from the South African Reserve Bank.
Banking crises bring longer downturns
Financial turmoil characterised by banking distress is more likely to result in severe and protracted downturns than crises caused by volatility in securities or foreign exchange markets, new research from the International Monetary Fund posits.
Basel Committee's Wellink wants burden shared
Nout Wellink, the president of the Netherlands Bank and the chairman of the Basel Committee on Banking Supervision, has said that he is in favour of proposals for supranational supervision in Europe but warned that the issue of burden-sharing was crucial.
Fed aids Treasury in toxic-asset removal
To support the Treasury's plan to rid banks of toxic assets, the Federal Reserve on Tuesday said that it will take some mortgage-backed securities on to its books from July.
Our outdated global monetary regime must go
From its roots in post-war reconstruction, the current international monetary system has evolved into a regime fundamentally unsuited to the realities of today's global economy. But it cannot last, writes Ousmene Mandeng
Sub-Saharan Africa faces severe slump, IMF warns
The International Monetary Fund warned on Tuesday that economies in sub-Saharan Africa were facing a "severe downturn" and called for a strong public-policy response both domestically and internationally.
Brazil and China planning link-up to ditch dollar
A Central Bank of Brazil official has said that trade between the country and China will be conducted in reals and renminbi rather than dollars.
HKMA's Yam confirms retirement
Joseph Yam, the chief executive of the Hong Kong Monetary Authority (HKMA), is to step down in October, it emerged on Tuesday.
Malaysian state sets up $5 billion SWF
Malaysia's oil-rich Terengganu state will establish a M$11 billion ($3 billion) ringgit sovereign wealth fund with a M$5 billion bond issuance later this week.
IMF's Kato: speed up governance reform
The International Monetary Fund should accelerate reform of its governance structure to better reflect global realities, said Takatoshi Kato, a deputy managing director of the Fund.
Banks back to deposit funding - Norway's Gjedrem
Deposits must again take precedence as the largest funding source for banks, said Svein Gjedrem, the governor of the Norges Bank.
Income distribution impacts the economy
Movements in the distribution of income can have a significant impact on the macroeconomy, a new paper from the St Louis Federal Reserve posits.
BIS data show derivatives market contracting
The rapid growth of the derivatives market reversed in the wake of the collapse of now-defunct investment bank Lehman Brothers - an event which revealed the fragility of the industry - data from the Bank for International Settlements (BIS) out Tuesday…
Fed outsources in-house cheque images system
The Federal Reserve has decided to migrate its archive of cheque images to a private provider in an effort to reduce costs.
Governance role to shift in crisis aftermath
Central bank governance is set to change in the aftermath of the financial crisis as institutions' roles adapt, a report out Monday has said.
Bank concerned on clarity of stability role
The Bank of England on Monday called for more clarity on and greater powers to fulfil its financial stability mandate.
BoJ's Hayami passes away
Masaru Hayami, the governor of the Bank of Japan who presided over the institution's introduction of quantitative easing, has died. He was 84.
Iceland MPC member: too many men led to bad banks
A member of the Central Bank of Iceland's recently-founded Monetary Policy Committee has said that an overabundance of "male bankers high on testosterone" taking "too much risk" was one of the reasons why financial professionals behaved so badly in the…
Switzerland's Jordan: too-big-to-fail a priority
The solution of the too-big-to-fail problem is the main task for Swiss financial regulators, said Thomas Jordan, a member of the country's central bank's governing board.
Turkey's strength is its financial system: Yilmaz
The key factor enhancing the resilience of Turkish economy to the global crisis is the stability achieved in Turkey's financial system, said Durmus Yilmaz, the governor of the country's central bank.
More payment systems caused cheque decline
The decline in cheque use occurred mainly via an increase in the number of payment instruments per consumer, a new paper from the Boston Federal Reserve reveals.
Boediono named as running mate, set to resign
Reports emerged on Friday that Boediono, the governor of Bank Indonesia, was tendering his resignation after he was named as the president's choice for running mate.
Temasek sells Bank of America shares
Temasek, one of Singapore's sovereign wealth funds, has sold its stake in Bank of America in a bid to reduce its considerable exposure to western banking stocks.