News
Customer funding gaps fall at Danish banks
Stress tests performed by the National Bank of Denmark show an increase in the capitalisation of the country’s banks; funding gaps shrink as deposits soar and lending falls
Bank of Israel moves to educate youth
An Israeli financial education programme has widened to include younger people; central bank says this will help strengthen the future position of the consumer in the financial sector
Fed holds fire on further easing
Federal Open Market Committee votes to hold federal funds rate and maintain current scale of asset purchases; concerns persist over labour market conditions, raising possibility of further stimulus
Basel Committee official rebuts criticism over regulatory complexity
Basel Committee secretary-general defends Basel III from critics who argue it is unnecessarily complicated; says additional detail needed to meet the increasing complexity of financial markets
BoE’s King highlights limitations of monetary policy
Bank of England governor says new asset purchase programme is still feasible, but indicates the use of monetary policy to bolster the economy is getting much harder
Draghi defends OMTs in front of German parliament
ECB president answers questions from Bundestag in a bid to address German fears over effect of outright monetary transactions
Embattled Nigerian governor condemns corrupt leadership
Central Bank of Nigeria governor Sanusi Lamido Sanusi says country’s economy is grossly underperforming due to corrupt and ineffectual leadership throughout the country
Korea to miss OTC clearing deadline
It is ‘highly unlikely’ Korea will meet the deadline to start clearing OTC derivatives by January 1, 2013, due to legislative delays, according to market participants
Bundesbank under pressure over $172bn gold inventory
German Federal Court of Auditors calls on Bundesbank to check gold held at Federal Reserve, Bank of England and Banque de France; Bundesbank to move 150 tonnes back to Germany over next three years
US reform could slash $150bn payments bill, says Fed’s Pianalto
Cleveland Fed president Sandra Pianalto explains the Fed’s vision of how the US payments system will operate in a decade; says UK offers valuable lesson on speed
Third-quarter figures show Spain still grappling with economic woes
Bank of Spain economic bulletin for the third quarter shows continued weakening of growth and range of other economic indicators; raises possibility government will not meet deficit target this year
Tanzanian banks braced for credit reference launch
Bank of Tanzania expects all the country’s banks to be fully compliant with a new credit reference system by December 1; anticipates quicker lending decisions and a fall in default rates
BoE shakes up management structure ahead of new role
Bank of England creates chief operating officer position to ease burden of new financial stability responsibilities on governors; finance director to retire in June next year
Bank of Lithuania launches liquidity coverage ratio
Liquidity coverage ratio applied to credit unions in Lithuania well in advance of Basel III deadline; similar rules for banks already in place
Central bankers highlight merits of fixed exchange rate regimes
Bosnian and Barbadian governors discuss the importance of a fixed exchange rate for small and open economies
Finland's Liikanen grilled by UK law-makers on banking separation
The governor of the Bank of Finland gives evidence to UK's Parliamentary Commission on Banking Standards; faces a barrage of questions on the precise nature of separation
ECB’s Constâncio downplays impact of single supervisory mechanism
Vítor Constâncio says banking supervision will not be significantly altered when ECB starts new supervisory role; attempts to allay fears over internal conflicts and role of national supervisors
Industry unmoved by death of minor-currency Libor
The Wheatley Review calls for an end to Libor quoting in five currencies, but the number of trades affected is small, say market participants
Bank of Israel names new head of macroeconomic and policy research
Bank of Israel appoints Adi Brender to replace Michel Strawczynski as head of the macroeconomics and policy division in its research department
Fijian police get anti-money laundering training
Fiji’s financial intelligence unit and police force to run an intensive workshop on investigating complex fraud cases
BoE’s Haldane outlines transparent future for the central bank
Executive director for financial stability says Bank of England has undergone a transformation of communications and transparency; outlines ‘radical’ shift in central bank’s operations
Islamic Liquidity Management Corporation replaces CEO
International Islamic Liquidity Management Corporation names Rifaat Ahmed Abdel Karim to replace Mahmoud AbuShamma as chief executive
Bank of Mauritius to offer gold as public savings tool
Mauritians will soon be able to purchase gold bars from the central bank as part of an effort to promote a 'savings culture' in the country
EU leaders agree on new powers for ECB
European Central Bank to run single supervisory mechanism, but leaders fail to agree on when bailout funds can be directly injected into European banks