News
Bank of Japan to revamp website
The Bank of Japan to launch new site at the end of the month; says changes will make information more easily accessible
Gold could hit $1,600 in 2011, say analysts
Commentators say investor appetite for the precious metal will continue to soar as concerns over US economy, eurozone sovereign debt issues, persist
EBA plans new round of stress tests
New European Banking Authority announces second round of stress tests for European banks at opening meeting
Virtual art showcase centrepiece of Finnish website re-launch
Bank of Finland unveils renovated internet portal at new address, featuring virtual tours of building and extensive art collection
Argentina raises deposit insurance ceiling: reports
Central Bank of Argentina quadruples cap on bank deposit insurance to better reflect falling peso
Oberthur seeks equity house support in De La Rue takeover bid: reports
French banknote firm Oberthur reportedly in talks to issue private equity houses with convertible bond to fund De La Rue acquisition
Senior officials for new European regulators named
European regulators in Paris and Frankfurt appoint a number of new heads and board members
Portugal succeeds at auction but fails to sway analysts
Portugal sells $1.6 billion worth of government debt at auction, but commentators remain wary of fundamentals
Argentinean central bank okays $7.5 billion loan to state
Central Bank of Argentina approves loan of $7.5 billion of reserves to repay bondholders; move is central bank’s latest measure to bail out government
Fed uncooperative and audit insufficient, claims influential senator
US senator Bernie Sanders dissatisfied with Federal Reserve’s response to further questions on audit of emergency lending facilities
South Korea promotes use of SWF to acquire foreign businesses: reports
Korea’s Presidential Council on National Competitiveness head Kang Man-soo says Korea Investment Corporation can help expand mergers and acquisitions abroad
Fed profits soar to record $80.9 billion
Federal Reserve posts another record profit, trumping 2009 by $27.5 billion; paves the way for $78.4 billion transfer to US Treasury
Barclays’ Diamond argues case for universal banking
Barclays' chief executive Bob Diamond adamant bank’s model funds cheaper lending and is less risky
Oberthur given takeover deadline as De La Rue spat intensifies
French banknote printer told to “put up or shut up” by 7 February; ruling comes on the heels of efforts to force De La Rue to clarify relationship with RBI, failed November takeover bid
High inflation stirs banknote shortage in Argentina: reports
Inflationary pressures in Argentina create shortage of high-denomination banknotes forcing long queues at cash machines
BIS appoints Chile’s De Gregorio to chair regional consultation group
Central Bank of Chile governor De Gregorio succeeds former Central Bank of Brazil governor Henrique Meirelles as head of Bank for International Settlements Consultation Council for the Americas
Shirakawa elected vice-chair of BIS board
Bank of Japan governor Masaaki Shirakawa picked to succeed Hans Tietmeyer as vice-chair of Bank for International Settlements’ board of directors
Government delay holds up launch of Bank of Israel’s new rate-setting body
Bank of Israel awaits government’s selection of three external members to new Monetary Committee seven months after passage of law for new interest rate-setting measures
QE2 will create jobs, Yellen tells critics
Federal Reserve vice-chair Janet Yellen says further quantitative easing will address weak labour demand and generate roughly 700,000 jobs
Sudan bans some imports as forex shortage looms
Bank of Sudan bans imports of luxury items, goods with local substitutes, to conserve foreign currency; currency wobbles on secession, oil fears
Stability objective should drive financial policy, says BoE’s Bailey
Bank's Bailey says stability goal must not be swayed by “murky compromises with other objectives”
Beijing must turn away from dollar, says PBoC official: reports
Senior People’s Bank of China official says Beijing must shake off dollar reliance in opinion column
Fed’s full employment mandate in the crosshair
US congressman Paul Ryan takes aim at Federal Reserve’s dual mandate, will put forth bill calling for full employment aim to be abandoned
IMF in bid to strengthen governance of cross-border capital flows
IMF executive directors support greater Fund role in surveillance of cross-border capital flows and creation of rules for capital account policies