Central Banks
SWFs investment in banks: an alarming trend?
In the wake of the credit crunch banks' capital cushions have deflated dangerously. And, in response, some have turned to one group of investors untouched by subprime credit or by mark-to-market reporting requirements: sovereign wealth funds (SWFs)…
Pacific Island SWFs hampered by mismanagement
Little integration with budgets, institutional weaknesses and inadequate controls have hindered the performance of sovereign wealth funds run by the authorities in Pacific Island countries, research published by the International Monetary Fund finds.
Kuwaiti SWF could be next to invest on Wall Street
Bader Al-Sa'ad, the head of Kuwait Investment Authority, the state's sovereign wealth fund, indicated that his could be the next fund to inject funds into a finance industry clawing for capital in the aftermath of the subprime crisis.
Venezuela lops zeros off bolivar to curb inflation
Venezuela revamped the bolivar on Tuesday by slashing three zeros from the currency in a bid to dampen rampant inflation, which hit 20.7% in the 12 months to November.
China to name Ma Delun as vice governor
The People's Bank of China is set to appoint Ma Delun as vice governor of the central bank, local media reports said on Wednesday.
Central Bank of Swaziland - Annual Report 06/07
Swaziland's balance of payments improved significantly in 2006.
IMF template reduces exchange rate volatility
The adoption of the International Monetary Fund's International Reserves and Foreign Currency Liquidity Data Template leads to a fall in exchange rate volatility, research published by the Fund finds.
Interbank rates plummet as year-end passes
Pressure on the banking industry eased on Wednesday with spreads between money market and central banks' benchmark interest rates narrowing as the end-of-year liquidity panic passed. The falls indicate that the central banks' efforts to alleviate some of…
Cyprus and Malta join eurozone
The eurozone became a little larger on Tuesday as Cyprus and Malta, two Mediterranean islands, adopted the single currency.
Public debt management: the Sri Lankan experience
The Central Bank of Sri Lanka has published details of its role in managing the public debt, which it has undertaken since its inception in 1950.
The blame game
The decision of many central banks, most notably the Federal Reserve, to lower rates in the wake of the dotcom crash, has drawn criticism from some quarters post-credit crunch. But, Claire Jones, editor of Central Bank News, argues blame for the crisis…
Time has proved us right, says Trichet
The European Central Bank's (ECB) decision to inject hundreds of billions of extra euros into the money markets to alleviate tensions looks to be the correct one, says Jean-Claude Trichet, the president of the central bank.
Swiss exchange rate has no impact on rate-setting
The Swiss franc exchange rate is only relevant in monetary policy insofar as it has an impact on Swiss inflation, says Jean-Pierre Roth, the chairman of the Swiss National Bank.
Big banks the ones making a mint from seigniorage
Smaller central banks lacking independence in poorer countries generally make less from seigniorage, the profit involved in minting coins, research published by the International Monetary Fund shows.
Singapore SWF could invest $5 billion in US bank
Temasek, the Singapore finance ministry's sovereign wealth fund, could be the latest fund to cash in on Wall Street's subprime losses by injecting as much as $5 billion into Merrill Lynch in exchange for what could amount to a 10% stake in the American…
Fed to conduct auctions for "as long as necessary"
The Federal Reserve said on Friday it will continue to run Term Auction Facility auctions twice a month "for as long as necessary to address elevated pressures in short-term funding markets."
Cyprus cuts rates before eurozone entry
The Central Bank of Cyprus's rate-setting board on Friday unexpectedly slashed rates by 50 basis points to 4% to match the European Central Bank's benchmark rate.
Interbank rates edge down again
Money market tensions eased further on Friday, signalling that the joint action announced by five of the most powerful central banks last week is having some impact in narrowing spreads between interbank and central banks' benchmark rates.
UBS shareholders uneasy with SWF investment
Shareholders at UBS, the Swiss bank, are threatening a revolt over capital injections worth Sfr 13 billion ($11.2 billion) from two sovereign wealth funds.
Rate setters act on inflation not job location
Little evidence exists of any systematic differences in the voting habits of internally- and externally-appointed members of the Bank of England's monetary policy committee, research published by the Bank finds.
Bank of Finland - Financial Stability Report 2007
The Finnish financial system is stable and would likely withstand even considerable disruptions in the operating environment, the 2007 edition of the Bank of Finland's financial stability report says.
China lifts rates in new bid to halt inflation
The People's Bank of China on Thursday hiked rates for the sixth time this year in an effort to curb inflation now at an 11-year peak.
Japanese board all back 0.5% rate hold
The Bank of Japan's rate-setting board voted unanimously in favour of keeping its benchmark uncollateralised overnight call rate at 0.5% on Thursday.
Joint action lessening interbank spreads
In a sign that central banks' concerted action aimed at easing money market tension is doing just that, banks' borrowing costs fell further on Thursday.