News
Crisis will not push SWFs to mull long-term shift: WikiLeak
Leaked diplomatic cable shows sovereign wealth funds rushed to liquid assets in immediate aftermath of crisis, but experts did not expect long-term portfolio shift
Dealers face funding time-bomb from one-way CSAs
Five banks disclose $30 billion obligation from one-way collateral agreements - and dealers warn costs could soar as interest rates rise
Risk management booms in sub-Saharan Africa
Kenyan Central Bank reports 95% of banks have independent risk management functions
SEC names new general counsel
Securities and Exchange Commission appoints deputy general counsel for litigation and adjudication Mark Cahn to head regulator’s law department
No new deal on bailout: Trichet to Dublin
European Central Bank president Jean-Claude Trichet says Irish politicians should not attempt to renegotiate terms of the EU-IMF bailout; opposition leaders critical of ECB’s role
NY Fed adds two primary dealers
MF Global and Société Générale Americas Securities join New York Fed’s cadre of primary dealers
Sri Lanka launches new banknote series
Central Bank of Sri Lanka series in 20 years; new edition contains several new advanced security features and first SLRs5000 denomination
FDIC names new general counsel
Federal Deposit Insurance Corporation selects special adviser Michael Krimminger to head legal division
Future of Supervisors' letter process unclear in wake of Dodd-Frank
Swap clearing legislation threatens to render OTC market commitments redundant
Commercial real-estate levelling off: Fed director
Federal Reserve’s director of banking supervision and regulation Patrick Parkinson strikes cautiously optimistic note on health of commercial real estate sector
Cut Bank’s vote on macroprudential body, say lawmakers
Influential parliamentary committee calls for Bank of England executive directors’ votes to be transferred to external members, citing amount of power vested in central bank
Enria, Maijoor, Bernardino confirmed as ESA chairs
Andrea Enria, Steven Maijoor and Gabriel Bernardino get parliamentary seal of approval to head up European supervisory authorities
ECB provides liquidity bridge, not bailout: Papadia
European Central Bank’s director-general for market operations Francesco Papadia stresses central bank’s liquidity assistance only short-term, says new European rescue vehicles will ease market concerns
IMF: Historical debt stats will help plot growth strategy
IMF says its historical public debt database will help policymakers see the relationship between debt and growth; data goes as far back as 1791
China plans onshore renminbi cross-currency swap
Chinese corporates will now have access to onshore and offshore hedging markets
Danish regulators push for more flexible Basel III liquidity rules
Shortage of high-quality liquid assets prompts Danish regulators to push for changes to the liquidity coverage ratio within the EU capital requirements directive
BIS reviews macroprudential literature
Literature review published by the Bank for International Settlements finds gaps in assessing the effectiveness of macroprudential tools, studying interaction with monetary policy
HK SFC’s Wheatley to head new UK regulator
Hong Kong Securities and Futures Commission’s Martin Wheatley named CEO designate of new consumer regulator; becomes head of FSA’s consumer and business wing in September
Estonia euro information campaign a success
Survey on euro adoption information campaign shows 97% of respondents were made aware of switch to single currency
UK FSA calls for more funds again
Financial Services Authority puts funding requirement up by 10%, pointing to increased cost of intensive supervision, Basel III and forthcoming split
ECB launches new statistics book
European Central Bank volume covers future of central bank statistics
UK Treasury Committee calls on FSA to disclose details of banks’ pay
UK’s Treasury Committee chairman Andrew Tyrie asks FSA chief to disclose remuneration of 'high-end' employees; says disclosure in aggregated form will protect competitiveness of financial firms
Sovereign funds set to enter an active phase: State Street’s Nugée
Sovereign wealth funds ready to tackle postponed investment decisions and portfolio changes having ridden out crisis with a passive management strategy
Budapest can muscle in on rate-setting council, but will not control policy: Simor
National Bank of Hungary governor András Simor says even if the Hungarian government gets its way on the appointment of external rate-setters, appointees will have deliver on the central bank’s goals