News
EBA makes first assessment of banks’ capital plans
European Banking Authority receives recapitalisation plans from majority of banks highlighted in capital shortfall assessment; confirms no EU-wide stress test until 2013
ECB approves collateral eligibility criteria of seven Eurosystem central banks
European Central Bank leaves interest rates unchanged but confirms plans to relax collateral criteria for credit claims at seven Eurosystem central banks, including Banque de France
BoE boosts QE by £50 billion
Bank of England increases the size of its Asset Purchase Programme to £325 billion as forecasts show inflation in the UK is likely to undershoot its target in the medium term
Brazil deputy governor positive about economic future
Aldo Mendes says Brazil is prepared to face global economic deterioration; expects to see final growth figure of 3% for 2011 announced soon
SNB announces year-long delay on new banknotes
Problems with suppliers mean the new Swiss banknotes will not enter circulation until the end of 2013 at the earliest; latest hiccup in long process of renewing the currency
Ukraine deputy governor resigns
National Bank of Ukraine quietly replaces Volodymyr Krotiuk as deputy governor; offers no explanation as director of financial department takes over the role
EU vows fresh sanctions against Syrian central bank
European Union due to impose freeze on Central Bank of Syria's assets as part of efforts to strengthen sanctions against the Syrian government
Former BoE policy-makers discuss QE and financial repression
Andrew Sentance joins Fathom Monetary Policy Forum for the first time; joins Rachel Lomax and Ian Plenderleith to discuss quantitative easing and financial repression
EPC outlines new models for mobile payments
European Payments Council requests feedback on new model for contactless and remote mobile payments in Europe; focuses on the preferred type of secure-elements technology used in mobile phones
Malaysia and China extend currency swap arrangement
People's Bank of China and Bank Negara Malaysia renew and expand currency swap arrangement, designed to facilitate greater bilateral trade and investment
Norges Bank announces end date for public to exchange old banknotes
Norwegians have until November 2012 to exchange old series of banknotes before they are rendered worthless, 11 years after new currency series was introduced
RBA surprises markets with rate hold
Reserve Bank of Australia policy board leaves cash rate unchanged despite market expectation of 25-basis point cut in rates due to weak external outlook
SNB’s Jordan pledges to maintain Swiss franc’s currency floor
Swiss National Bank acting chairman, Thomas Jordan, preserves commitment of Sfr1.20 floor to euro; analysts expect the central bank to defend but not raise floor
Lithuanian central bank completes euro credit migration to Sepa
Bank of Lithuania says government institutions holding accounts with central bank will now be able to initiate and receive payments in euros through Sepa credit payments scheme
Tri-party repo taskforce to disband without delivering key reform
The New York Fed's concerns about intra-day credit should be tackled by JP Morgan, BNY Mellon and DTCC, an industry taskforce concludes
Queen's portraits from banknotes and coins to appear on stamps
New stamps issued to celebrate the Queen’s diamond jubilee; first time the official portraits from banknotes, coins and stamps have been brought together
Netherlands Bank blasts EU financial transaction tax proposals
Netherlands Bank warns of large financial and economic costs associated with the adoption of a financial transaction tax in Europe; says hard evidence of stability benefits are 'lacking'
EBA rejects claims of problems with banks’ recapitalisation plans
European Banking Authority slams reports 'purporting to contain factual information'; says majority of banks’ plans appear to be in line with EBA recommendations
FSA chief hails new twin peaks approach to regulation
Financial Services Authority head Hector Sants says approach to supervision of banks in the UK will be more proactive and judgement-based; warns of 'tick box' approach to regulation in Europe
Estonian central bank finds public retaining kroons as memento
Bank of Estonia study finds 81% of respondents are holding on to some kroon cash; not using it for savings shows confidence in the euro, says head of cash and security department
Sub-Saharan Africa regional FSB group discusses challenges faced
FSB regional group discusses 'particular' challenges facing Sub-Saharan Africa; growing complexity of banking systems and cross-border spillover effects are causing concern
Dominican Republic confident in new inflation target; holds rates
Central Bank of the Dominican Republic leaves rates unchanged at first meeting since introducing a new inflation targeting framework; says it will meet 5.5% inflation target by the end of 2012
Italian banks may need state aid to hit 9% core capital, says Saccomanni
Bank of Italy director-general says country’s banks may require government assistance to meet stricter 9% core Tier I capital ratio; new deputy director Salvatore Rossi optimistic growth outlook
Czech central bank concerned over Esma's power
National supervisors should be responsible for their domestic institutions, says Czech National Bank