News
Eichengreen backs Fund as global lender of last resort
Berkeley economist Barry Eichengreen believes International Monetary Fund should in time take on the mantle of global lender of last resort
ECB attacks Brussels over hedge-fund rules
Concern comes after British authorities warned on rules
Barofsky: US Treasury abdicated responsibility for AIG
Neil Barofsky, the special inspector general for the Troubled Assets Relief Program (Sigtarp), accuses US Treasury of "abdication of responsibility" over AIG retention bonuses
Zim finance minister looks to cut central bank authority
Tendai Biti, Zimbabwe’s finance minister, has tabled a bill that seeks to reduce the powers of the Zimbabwe’s central bank and its governor
Living wills the way forward: Britain’s FSA
Britain’s Financial Services Authority also calls for higher capital and liquidity requirements
Norges Bank reverses emergency collateral rules
Norway’s central bank tightens collateral guidelines with immediate effect, proposes end to acceptance of bank bonds
Eichengreen sees dollar safe for now
The euro and the renminbi could both mount a strong challenge to the dollar’s status as the global reserve currency. But, as Berkeley economist Barry Eichengreen tells CentralBanking.com, must overcome some major obstacles before they can do so
Plosser attacks Fed liquidity support
Philadelphia Federal Reserve president says central bank has gone “far beyond” Bagehot’s lender-of-last-resort tenet, should accept nothing but Treasuries
Brazil capital control unlikely to slow real’s rise
Imposition halts currency’s appreciation but analysts sceptical move will help in longer term, investors jittery on Colombian peso
Paulson broke the law for Goldman Sachs, alleges book
Book accuses the former US Treasury Secretary of misconduct over alleged meeting with Goldman officials
Fed names new supervision head
Fed names Patrick Parkinson as Roger Cole’s replacement
King’s speech elicits mixed reaction
Commentators and politicians broadly support Bank governor’s call for break-up of biggest banks, but see no easy fix
King calls for radical reform of banking
Bank of England governor pushes for root-and-branch reform, says Bank will detail macroprudential approach later this week
France’s Noyer likely to win second term
French central bank governor looks set to be given a second term after glowing endorsement from economy minister
Korea considering shifting dollar assets to gold
Korean central bank reportedly interested in diversifying reserves; favours gold over dollar
Canada sees more modest recovery
Bank of Canada downgrades growth forecasts slightly, says slack to remain until September 2011
Ireland names new chief regulator
Bermuda Monetary Authority governor will take up senior post at central bank
NY Fed sets out stall on reverse repos
New York Fed communicates workings of possible strand of exit strategy
Gulf officials call for UAE, Oman to rejoin monetary union
Members of the four states still involved in plans for single currency in the Gulf ask UAE and Oman to come back
Ireland hints at IMF intervention in bid to slash costs
Irish health minister Mary Harney suggests IMF will make drastic cuts if the government cannot rein expenditure in
BoE’s Posen backs governor on smashing up banks
Newest member of the Bank of England’s Monetary Policy Committee sees case for limiting bank size “full stop”
Hungary slashes rates for fourth time since July
Hungary’s central bank cuts base rate to 7%, fears inflation will be substantially below target
Crisis underlines democracy’s flaws: ECB’s Bini Smaghi
Short-termism inherent in democratic government led to the lax supervisory regimes that paved way for banks’ excesses, says ECB board member
Greenspan: too-big-to-fail didn’t exist until crunch
Former Federal Reserve chairman believed government would allow failure until government-sponsored enterprises were taken into conservatorship