News
Ron Paul set to renew bid to audit Fed
United States representative Ron Paul vows to audit Federal Reserve if he wins power of House subcommittee on monetary policy
Zhou, Meirelles attack QE2
Central Bank of Brazil president Henrique Meirelles and People's Bank of China governor Zhou Xiaochuan bash Federal Reserve’s latest stimulus programme
Risk USA: Paulson refused to save Lehman over 'bailout guy' characterisation
Former White House economist details civil war between Bush administration and US Treasury
Fund nears the end of gold sales
IMF has sold majority of the gold set aside for disposal; analysts expect Fund will complete sales by end of the year
FSB opens up to non-members with outreach proposal
Financial Stability Board to set up regional consultative groups to give non-members a presence in regulatory debate; move goes only half the way to correcting imbalance, DIFC chief economist says
New Fed office to aid stability, macroprudential efforts
Federal Reserve sets up financial stability policy office to coordinate institution-wide analysis on stability risks; J. Nellie Liang named director of office
Broaden renminbi use to curb dollar influence: ex-HKMA’s Yam
Former Hong Kong Monetary Authority chief executive Joseph Yam calls for more renminbi internationalisation; says Hong Kong a vital portal in the effort
Norway’s sovereign wealth fund makes first property investment
Government Pension Fund Global takes stake in British Crown Estate’s Regent Street portfolio as part of new strategy to better hedge against inflation
Hong Kong will not abandon dollar peg: HKMA’s Chan
Hong Kong Monetary Authority chief executive Norman Chan says central bank will maintain dollar peg
Fed to buy $600 billion-worth of Treasuries
Size of QE2 exceeds expectations; pace of purchases slower than forecast
CIC’s Zhou calls on Congress, not Fed, to spend
China Investment Corporation’s Zhou Yuan says further quantitative easing will not cure United States’ unemployment problem; Fed expected to unveil more asset purchases, despite dissent
Norway’s Gjedrem bids to hold on to wealth fund role
Norges Bank governor Svein Gjedrem disagrees with proposal to strip management of sovereign wealth fund from Norges Bank; says central bank best placed to manage Government Pension Fund Global
Gono’s alleged affair stirs varied reactions
Reports that Reserve Bank of Zimbabwe governor Gideon Gono allegedly had a five-year affair with Robert Mugabe’s wife ricochet around international media
Adia appoints new chief investment officer for private equity wing
James Kester joins Abu Dhabi’s sovereign wealth fund from Zurich Alternative Asset Management
FSB sets out markers for intense, effective supervision of Sifis
FSB issues recommendations to shape top notch oversight of systemically important financial institutions; calls for expansions, clarifications to core Basel principles
UK doesn’t need more QE: former MPC members
Sir John Gieve, DeAnne Julius and Rachel Lomax say Bank should hold on launch of QE2; Gieve flags asymmetric bias towards looser policy
BoJ’s Suda criticises decision to buy government bonds
Bank of Japan monetary policy minutes reveal dissent over central bank’s decision to include government bonds as part of stimulus programme
Ex-Bank’s Lomax attacks government over cutbacks
Former MPC member Rachel Lomax lambasts climate of fear promulgated by Britain’s coalition government in order to pave the way for fiscal retrenchment
India tightens loan-to-value ratios
Reserve Bank of India sets out higher loan-to-value ratios on housing loan exposures; central bank also hikes as inflation, inflation expectations, remain high
SNB council member to step down next April
Swiss National Bank’s Armin Jans to resign from Bank Council after 12 years in role
Luxembourg’s Mersch condemns Basel III bias
Central Bank of Luxembourg governor Yves Mersch says Basel III will be more detrimental to European banks than US lenders; echoes bankers’ concerns on lending to small and medium enterprises
Abandon theory, Sheng urges central bankers
Andrew Sheng says current generation of central bankers became so enamoured with models they missed bigger picture; says there will be a great need for discretion, not rules, in future
Bini Smaghi attacks watered-down EU fiscal sanctions
European Central Bank executive board member Lorenzo Bini Smaghi criticises EU proposals to have option to apply veto on excessive deficit sanctions
Iran makes substantial shift into gold: reports
Tehran news agency reports central bank governor Mahmoud Bahmani as saying around 15% of foreign exchange reserves have been moved into gold