News
Sarb issues new collateral requirements for committed liquidity facility
While revisions to Basel III have reduced South African banks' immediate LCR shortfall, they are still 140 billion rand short, according to the central bank
Central banks face $450bn in paper losses from gold holdings
The decline in world gold prices during the first half of the year has resulted in the value of central bank gold reserves falling by $447 billion; latest entrants into bullion market hardest hit
Fisher: Fed has its finger on taper trigger
Dallas Fed’s Fisher says the FOMC is nearing ‘execution mode’ on the back of improving employment figures; Philadelphia Fed’s Plosser wants ‘brighter line’ between monetary and fiscal policy
Bank of England's prudential regulator consults banks on capital requirements
The UK's Prudential Regulatory Authority wants to hear from financial institutions about the best way to implement Europe's new CRD IV legislation
India in search for new RBI governor as Subbarao set to leave in September
Duvvuri Subbarao will leave the RBI this year after five years at the top; no clear favourite as yet to replace him, as three external candidates attract speculation
BoJ on target as IMF urges Abe to loose his other arrows
IMF says fiscal and structural reforms are necessary to create ‘durable’ increase in inflation; encourages Bank of Japan to begin internal discussions over its exit plan
Leiderman turns down Bank of Israel top job
Prime minister Benjamin Netanyahu in sticky situation as top two choices turn down central bank governorship within five days of each other; pool of potential candidates shrinking fast
Bullard says Fed should ape ECB press conference schedule
James Bullard of the St Louis Fed wants to see the Fed chair give a press conference after every meeting of the FOMC - not after alternate meetings, as is the case currently
IMF spillover report highlights tough balancing act for leading economies
Report examining international effects of policies in China, the eurozone, Japan, the UK and US, says easy monetary conditions essential but warns of future side-effects
IMF backs Czech forex intervention
Article IV says a ‘persistent and large undershooting’ of the Czech National Bank’s inflation target would warrant a weaker koruna; governor Miroslav Singer says board is coming round to the idea
Fed governor set for Treasury switch
Obama appoints Fed's Sarah Bloom Raskin as deputy secretary at the Treasury; former long-serving Fed economist Karen Dynan will also join Treasury as assistant secretary for economic policy
Court decision overturns Fed cap on credit card fees
Ruling slams Fed's $0.21 cap on banks' interchange fees as too high and for running ‘completely afoul of the text, design and purpose' of legislators' intent; bank body calls on Fed to appeal
ECB confirms forward guidance, holds rates without discussion
Mario Draghi confirms ECB expects to keep interest rates at current rates or lower, but tells press conference there was no discussion on changing rates today
BoE and Fed keep policy on hold
Federal Reserve points to risks of below target inflation and cools its assessment of economic activity; Bank of England expected to introduce forward guidance next week
Issing brands calls for detailed ECB minutes disclosure ‘absurd'
Debate rages about the need for more transparency in ECB governing council decision-making, as Otmar Issing and Sharon Bowles enter the fray; Draghi says ECB is reviewing communications policy
Leo Leiderman nominated as Bank of Israel governor
Bank Hapoalim chief economist picked to replace the departed Stanley Fischer; deputy governor Karnit Flug will step down after missing out on top job for second time
Yen volatility drives record turnover, central bank surveys reveal
Volume was up across foreign exchange products in the UK and US in April 2013, with nearly $1 trillion traded daily in the US and more than $2.5 trillion in the UK
Cyprus gold still in play to help fund troika bailout
First review finds good progress made in repairing the Cypriot financial sector; central bank will take on a wider supervisory role but may have to sell gold to contribute to the country's bail-out
Bank of England publishes history archive online
Digital archive project has uncovered BoE's controversial role in Nazi gold appropriation; includes all of the central bank’s main publications in addition to previously unpublished history
PBoC injects 17 billion yuan to ease liquidity
Move to pump funds into the system has divided opinion over whether the People's Bank of China is setting a course for further easing
Turkey’s central bank ramps up inflation forecast
Central bank raises inflation forecast for 2013 on account of depreciating lira and higher oil prices; MPC plots strategy for dealing with uncertainty surrounding the unwinding of QE
Frenkel drops bid to be next governor of the Bank of Israel
Jacob Frenkel withdraws candidacy for the post of governor at the central bank amid public furore; Israeli government may turn to Karnit Flug
UK economy near escape velocity already, say ex-MPC members
Former BoE deputy governor John Gieve believes Mark Carney may use macro-prudential policy to boost the UK economy; Charles Goodhart argues ‘help to buy' scheme will promote lending to SMEs
RBI 'forfeiting monetary policy discretion' in bid to keep rupee in check
Governor Duvvuri Subbarao says India is caught in an 'impossible' trilemma, forcing the bank to maintain rates in spite of sluggish growth and ebbing inflation