News
New deputy governor for State Bank of Vietnam
Vietnamese prime minister appoints Dao Minh Tu; joins five other deputy governors at the central bank
HFT adds value to the forex market, says Bank of England
While the effects of high-frequency trading activity should continue to be monitored, the practice adds value to the FX market, a senior Bank of England official has argued
Posen to leave Bank of England’s MPC
Adam Posen will not seek reappointment to Bank of England’s Monetary Policy Committee; takes on role as president of Peterson Institute of International Economics
Ukraine releases banking group identification regulation
New regulation brings Ukraine further into line with EU and Basel Committee principles; describes how banking groups come to be classified as such in the country
US Senate confirms new Federal Reserve Board members
Jeremy Stein and Jerome Powell secure bipartisan support from members of Congress to be confirmed for positions on Federal Reserve Board
Central banks take part in ‘Night of Museums’ event
Central bank museums to open late as part of European Night of Museums event; UK and Lithuania among those with special events planned
State Bank of Pakistan decides to implement IBAN
Pakistan to see International Bank Account Number system fully in place by June 2013; central bank hopes change will make payments more efficient in the country
Brazil to reveal rate-setters'votes
Central bank board approves amendments to law governing the institution aimed at increasing transparency; quarterly inflation report also to begin being published
Cheques secure place in Australian payments system
Australian Payments Clearing Association finds no reason to consider closing the cheque clearing system in Australia
Malaysia and Turkey sign memorandum of understanding
Central banks agree to work to “foster strategic co-operation” between the two countries; want to promote bilateral investment and liquidity arrangements
Gold demand drops from high 2011 figures
Gold Demand Trends report from World Gold Council notes 5% lower demand in Q1 this year compared with 2011
BoE’s King says eurozone is ‘tearing itself apart’
Latest Inflation Report from the Bank of England lowers growth estimates for the economy; King says situation in eurozone continues to put pressure on the UK
ECB honours González-Páramo as police remove protestors
ECB holds event to celebrate work of José Manuel González-Páramo during his term as a member of the executive board on the same day a protest camp is cleared from outside the building
Bundesbank reveals location of gold holdings
German central bank says gold is held in four countries; kept in the vaults of the trading centres where transfers happened
No more Fed letter commitments expected, says Dudley
New York Fed will "stand down" as the CFTC and SEC "stand up", says New York Fed president
Hungary issues medieval gold florin coin series
National Bank of Hungary issues first in a series of medieval gold florin commemorative coins; both normal and piedfort versions available
European finance ministers agree on Basel III rules
Capital requirement regulations relaxed to allow unanimous support of regulations to implement Basel III; European Parliament negotiations next
Central Bank of Ireland’s McMahon lands at UK accountancy firm
Former head of financial institutions at Central Bank of Ireland appointed global head of bank regulation and restructuring at accountancy firm, Mazars
Chan highlights ‘strong business case’ for renminbi use
Norman Chan tells a conference in Tokyo that payments in renminbi can increase the efficiency of growing trade activity between Japan and China
National Bank of Ukraine publishes Encyclopaedia of Banking
First in a set of books explaining the banking system in Ukraine is released; series forms part of the celebrations of the central bank’s 20th anniversary
FDIC announces departure of general counsel
Michael Krimminger set to leave Federal Deposit Insurance Corporation later this month; joins Washington, DC law firm
US authorities finalise stress-testing guidance
Three federal banking agencies publish final guidance for large banks and stress community banks are not covered by the same requirements
Central Bank of Cyprus governor warns austerity is not enough
Panicos Demetriades calls on government to work alongside the central bank in getting the economy back on track; acknowledges impact the crisis in Greece is having on Cyprus
Asia regional FSB discusses deleveraging in Europe
Financial Stability Board Regional Consultative Group for Asia focuses on problems arising due to deleveraging of European financial institutions; also share thoughts on recent FSB initiatives