Central Banks
Bank of England deputy governor to step down
The Bank of England announced of Monday 17 October that Sir Andrew Large, Deputy Governor for Financial Stability, is to leave the Bank almost two years early in January next year.
China to introduce intl accounting standards
China will gradually introduce international accounting standard into the state-owned commercial bank sector to encourage ongoing banking reforms, the People's Bank of China said in a statement on its website.
BOJ minutes show support for liquidity cut
Two Bank of Japan Policy Board members suggested that they may support the lowering of the current account balance target in the future, according to minutes released Monday 17 October.
Comment: An unexpected change at the BoE
The Bank of England (BoE) on Monday somewhat unexpectedly announced that deputy governor for financial stability, Sir Andrew Large, would be leaving the Bank at the end of the year.
BIS appoints Daniel Lefort as General Counsel
The Board of Directors of the Bank for International Settlements announced the appointment of Daniel Lefort as General Counsel on Tuesday.
Quiz on the Nobel Prize for Economics
Test your knowledge of the Nobel Prize for Economics with this five question quiz. Q1. How many women have won the Nobel Prize for Economics since 1969?
IMF chief congratulates Ingves
Rodrigo de Rato, the Managing Director of the International Monetary Fund, congratulated Stefan Ingves on Tuesday 11 October, currently Director of the IMF's Monetary and Financial Systems Department (MFD), for his appointment as Governor of Sveriges…
Riksbank's Bergstrom decides to step down
Sveriges Riksbank deputy governor Villy Bergstrom announced on Tuesday 11 October his decision to step down, saying his time at the Bank has been the best of his working life.
Riksbank Council on Bergstrom's decision
The Riksbank's General Council thanked Villy Bergstrom for his work at the Riksbank, saying he has played an important part to explain and anchor the Riksbank's role and position in society.
Greenspan's driving ambition
Alan Greenspan's wife revealed this week that the Federal Reserve chairman hasn't driven a car for 18 years.
Central banker named Cricket World Cup director
The West Indies Cricket Board has appointed four new directors to its wholly-owned subsidiary ICC Cricket World Cup West Indies 2007.
Feldstein for the Fed?
While Harvard University economist Martin Feldstein may have the best credentials to succeed Alan Greenspan as Federal Reserve chairman, this article published on Tuesday 11 October notes that he may also have the biggest liabilities.
Somalia's sacked central banker wants job back
Somalia's sacked central bank governor, Dr Mohamud Mohamed Ulusow, has called for international pressure to be put on the transitional government to give him back his job.
New Fed chief could be named in November
With the White House set to choose a successor to Federal Reserve Chairman Alan Greenspan soon, analysts have pencilled in November to mid-December as a likely time window for an announcement.
Heikensten on monetary policy in Sweden and US
In the speech 'Monetary policy in Sweden and the United States' given on 14 October Lars Heikensten of the Sveriges Riksbank said he expects continued strong growth globally as well as in Sweden, uncertainty on future oil prices and their effects, and an…
Interview with Nobel Prize winner Thomas Schelling
Prof. Thomas Schelling of the University of Maryland was recently awarded the 2005 Nobel Prize in Economics, along with Robert J. Aumann. Schelling was interviewed in the Spring 2005 issue of the Richmond Fed's Region Focus magazine. In the interview, he…
Comment: Dealing with financial risks
Financial systems around the world have changed dramatically in the last 30 years. Borrowing and lending volumes have increased to levels unimaginable three decades ago, lending rates recently reached historically low levels, and instruments catering to…
New York Fed's Foreign Exchange Operations Report
According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for April-June 2005, the U.S. monetary authorities did not intervene in the foreign exchange markets during the quarter.
Fed minutes suggest more rate rises
Minutes from the Federal Reserve's 20 September meeting were published on Tuesday 11 October. FOMC members believed more interest-rate increases would be needed to keep inflation down when they raised interest rates at their last meeting, the minutes…
Heikensten on risks and financial stability
In the speech 'Risks and financial stability' given on 7 October Lars Heikensten of the Sveriges Riksbank said the financial markets have developed rapidly in recent years, and there are many reasons for this.
Proposed BOT Bill will increase authority
Thailand's Finance Ministry is currently considering the drafts of the Bank of Thailand Bill and the Currency Bill. If implemented, the new rules will broaden the BOT's authority to manage international reserves.
HKMA's Topping on improving the management of risk
In the speech 'Improving the management of risk through implementation of Basel II' given on 27 September Simon Topping of the HKMA said although preparations for the implementation of the new capital framework are well advanced in a large number of…
Chicago Fed 's Moskow on monetary policy
In the speech 'Reflections on monetary policy: Flexibility, transparency, and inflation guidelines' given on 26 September Michael Moskow of the Federal Reserve Bank of Chicago said he was wary of setting strict numerical targets for inflation and that a…
Has financial development made the world riskier?
This paper by Raghuram Rajan discusses the implications for monetary policy and prudential supervision of an increase in financial-sector-induced turmoil for some economies, due to developments in the financial sector.