News
The EU’s problem is solvency, not liquidity, says Pimco’s El-Erian
The EU faces a tricky 2011 as it navigates excessive debt, but needs to address solvency issues rather than liquidity, says Pimco's CEO Mohamed El-Erian.
ECB opinion on derivatives reform spurs debate on CCP liquidity resilience
French authorities welcome ECB's call for the resilience of central bank money to be recognised in EU derivatives legislation.
Israel unveils measures to brace against inflows
Bank of Israel introduces reporting rules, reserve requirements on foreign exchange derivatives trades; measures intended to clarify nature, limit inflows
Tombini’s inflation credentials strengthened by Brazil rate hike
Central Bank of Brazil lifts target rate by half a point to contain burgeoning price pressures; hike comes in first rate-setting meeting under charge of new governor Alexandre Tombini
IMF deputy managing director Portugal to leave Fund
Fund’s deputy managing director Murilo Portugal steps down to pursue vacant presidency role at Brazilian Banking Federation
Central Banking’s advisory board adds Stern, Sheng, Heikensten
Gary Stern, Andrew Sheng and Lars Heikensten join Central Banking Publications’ editorial advisory board
FSoC draws up Volcker rule plan
Financial Stability Oversight Council recommends rules to expand scope, force disclosure of permitted hedge fund investment
Brussels seeks clarity on solving national regulators’ spats
European Commission calls for amendments to laws stating what the role of new supervisory authorities will be in resolving disputes between national regulators
RBI’s Sinha promoted to deputy governor
Reserve Bank of India appoints executive director Anand Sinha to fourth and final deputy governor position
FSoC moots amendments to 'too big to fail' law
Financial Stability Oversight Council suggests changes in accounting standards, language of reform law barring firms from holding more than 10% of industry’s total liabilities
Fed sets up diversity and inclusion offices
Federal Reserve opens diversity and inclusion offices across the country in bid to step up equal employment opportunities in federal agencies
Bank rate set to remain on hold despite fresh rise in inflation
Bank of England unlikely to raise rates despite higher-than-forecast rise in inflation in December; analysts say central bank is right to keep rates on hold
ECB opines on Basel countercyclical buffer
Central bank cautions against mechanical application of credit-to-GDP ratio for calibration
Sweden’s Ingves draws roadmap to macroprudential mandate
Riksbank governor Stefan Ingves discusses measures in governance, implementation and econometrics needed for successful macroprudential policy
Belgium’s Praet, ex-Slovak deputy Kohútiková up for ECB board
National Bank of Belgium executive director Peter Praet and former National Bank of Slovakia deputy governor Elena Kohútiková nominated for ECB executive board seat to be vacated by Gertrude Tumpel-Gugerell
World Bank economist has replaced Tunisian governor: central bank source
World Bank’s Mustapha Kamel Nabli said to have succeeded Taoufik Baccar as head of Tunisian central bank; move comes amid allegations President Ali’s wife seized gold from central bank coffers
Calomiris to join Bank as Houblon-Norman fellow
US academic Charles Calomiris set to spend three months at the Bank of England, to examine development of Bank’s lender-of-last-resort role
FOMC 2005 transcripts: Bernanke, Hoenig called for long-term inflation targets
Federal Reserve chairman Ben Bernanke and Kansas Fed president Thomas Hoenig shown making a case for inflation targets in 2005 central bank meetings
Swiss authorities ink deal on crisis collaboration
Swiss National Bank, finance ministry and regulator sign memorandum on supervisory cooperation
Euro counterfeits drop by 5.9%
European Central Bank statistics show 364,000 forged euro banknotes recovered in second half of 2010; €50 note remains most popular bill to fake
CIC to open Toronto office, wants more funds: reports
China Investment Corporation selects Toronto as location of first foreign office; CIC senior executive demands more capital from Beijing
Estonia joins third central bank gold agreement
Bank of Estonia signs agreement limiting central bank gold sales to 400 tonnes a year up to August 2014; follows country’s entry to the eurozone
SNB expects $21.7 billion loss for 2010
Swiss National Bank says loss relates to foreign currency positions; says loss highlights need for independent central banks to have capital cushion
Basel III will cause ‘financial Darwinism’: BaFin’s Sanio
Top German regulator Jochen Sanio says Basel III will squeeze weaker banks, spur formation of large banking groups that will pose more systemic risk