News
King says independence is a tricky course to steer
BoE governor says central banks are expected to be partially, fully and non-independent in different parts of mandate, which is almost impossible; outvoted again at latest MPC meet
Bank of Israel director says central banks can 'overdo' liquidity
Andrew Abir identifies difficulty in providing the right amount of liquidity; says the risk of impairing market function was one worth taking
Arbitrage threat kept 'fallible' leverage ratio to 4%, says Vickers
Vickers says his 'blue skies thinking' leverage ratio would have been 10%, and adds stress testing avoids banks gaming the system
RBA counter-cyclical moves will be 'inevitable', says Commonwealth Bank economist
RBA monetary policy minutes released yesterday say scope remains for rate cuts later this year; commentators expect macro-prudential tools to 'become inevitable' to avoid a housing bubble
IMF flags growing risks from low interest rate environment
Global financial stability report urges caution by central banks employing loose monetary policy; says lack of adjustment to medium-term challenges could create ‘chronic phase’ of crisis
Fed demands more detailed 'living wills'
Federal Reserve and FDIC request additional information on risks that could derail resolution plans for largest bank holding companies, including issues of international co-operation
Draghi faces hostile Strasbourg reception but questions track record of SME lending schemes
ECB president grilled by European Parliament over the inability of small businesses to access credit; says action is 'absolutely essential'
Financial Stability Board demands faster OTC reform
FSB reveals that every one of its members missed the G-20 deadline for reforming OTC derivative markets; urges “rapid progress” in 2013
Cyprus president rejects Draghi concerns
Nicos Anastasiades tells ECB president that government is not interfering with central bank independence; stresses legitimacy of investigation into governor Panicos Demetriades
IMF's Blanchard warns Europe could drag world economy down
IMF chief economist says ‘three-speed’ global economy could be dangerous; World Economic Outlook urges central banks to keep policy loose but be ready with an exit strategy
World Bank says east Asia and Pacific at risk of ‘overheating’
Asia-Pacific policymakers urged to consider withdrawing stimulus – fiscal and monetary – as region’s larger economies reach their productive capacity and face inflationary pressures
BoE’s Bailey questions why top managers not punished for failure
Head of prudential regulator says it is ‘more than odd’ that people lower down the ranks in financial institutions were punished for failures but not top managers; warns EU remuneration plans undermine UK efforts
Schäuble condemned for ‘irresponsible' statements aimed at delaying banking union
Legislators and commentators round on German finance minister's 'political' comments suggesting banking union can't go ahead without treaty change
Eurozone problems still ‘looming large’, says Draghi
ECB president Mario Draghi says ECB’s policy not affecting all eurozone countries; central bank cannot tackle root causes of crisis and urges improved competitiveness
People: Central Bank of Trinidad and Tobago gets new deputy; Fiji management shake-up
Central Bank of Trinidad and Tobago names Alvin Hilaire as new deputy; Fijian IMF secondment sets off managerial merry-go-round; and more
EC to fight new US prudential rules for foreign banks, says EBF
EC "very concerned" about capital and liquidity proposals, says chief executive of the European Banking Federation
BIS committee hails Basel III progress
In report to G-20, the Basel committee says member countries are making ‘considerable progress’ implementing Basel III, despite long delays; laments ‘excessive’ variation in RWAs
FSB review finds bank resolution regimes 'lack important powers'
Results of last year's peer review show many countries still need to pass legislation to empower supervisory agencies to resolve failed financial institutions effectively
Draghi enters fray to defend Cyprus central bank independence
ECB president warns Cyprus government against violating the central bank’s independence by dismissing its governor; says any gold sales should benefit the central bank ‘first and foremost’
CNB board member issues warning on common bank resolution
Lubomir Lízal says common bank resolution most worrying element of European banking union; renminbi too politicised to use as reserve currency
Central banks 'getting away with murder', says currency investor
Central banks are pursuing the wrong policies and will find it difficult to know when to tighten monetary policy, says Axel Merk
IMF annual report says asset bubbles among risks of ‘MP-plus'
IMF warns of risk associated with loose monetary policy in the world's biggest economies, but says stance should remain 'very accommodative until recovery is well established'
Irish central bank puts 'embarrassing' error on new Joyce coin
Erroneous quote from James Joyce novel could make the collectors' coin even more valuable
Disjointed regulation could spell end of global banking era
Report says global banks must move faster with reform if their global operations are to weather the 'balkanisation' of financial markets caused by mismatching regulation between jurisdictions