News
UK enters new regulatory landscape
UK’s new conduct and prudential regulators take over from the FSA and aim to avoid the failings of their predecessor
Barbadian governor proposes adopting new policy rate
DeLisle Worrell and other senior central bank staff suggest adopting three-month Treasury bill rate as key policy rate, saying it is more practical for small, open economies
IMF calls on Hungary to safeguard central bank independence
The Fund's executive board urges National Bank of Hungary to preserve legal and operational independence; encourages a 'pause' in monetary easing
Bank of Lithuania chief urges banks to consider fee cuts as non-cash payments rise
Report shows sharp increase in volume of non-cash payments in Lithuania; governor Vitas Vasiliauskas says this gives banks room to consider cutting fees
Turkish banks face larger bill for holding forex and gold
Central bank increases price of holding gold and foreign exchange for Turkish banks who want to diversify reserve holdings away from Turkish lira
Fed doves disagree over FOMC's next move
Boston Fed’s Rosengren sees scope to continue asset purchases at current rate throughout 2013; Cleveland Fed’s Pianalto wants to slow programme down if labour market improvements hold
McKinnon says Fed must raise rates to stimulate growth and employment
Leading academic says positive real interest rates are the only way out of a credit crunch that's holding back lending to the productive economy
Michael Woodford backs combining nominal GDP and inflation target
Leading monetary policy theorist advocates immediate fiscal transfer to the public, funded by central bank purchase of government debt, coupled with adoption of nominal GDP target
Asia corporates unfairly ‘penalised’ by CVA capital charge
The move by European authorities to exempt European banks from holding CVA capital should be matched by regulators in Asia, according to senior bankers in the region
Fiji's new $5 note is island nation's polymer pioneer
New FJ$5 note will be Fiji's first polymer banknote, and will supplant the defunct FJ$2 note as the country's smallest
Brics leaders agree to set up $100 billion ‘financial safety net'
Contingent reserve agreement will allow Brics countries to provide each other financial support and will 'contribute to strengthening the global financial safety net'
Parliament gives Agus green light to become Bank Indonesia chief
Agus Martowardojo gets parliamentary approval to replace Darmin Nasution as governor of Bank Indonesia, after nine hours of questioning by commission
Slovenia picks new central bank governor to guide economy to safety
Boštjan Jazbec will take over from Marko Kranjec at the helm of the eurozone nation's central bank - tasked with 'repairing the financial sector'
BoE’s FPC calls on banks to raise more capital despite drop in lending
Financial Policy Committee says banks must correct a £25 billion shortfall by the end of the year, but should not cut lending; loans to private sector continue downward slide
Sanusi impersonators shut down in fight against Nigerian scams
Central Bank of Nigeria ensures over 100 social networking accounts impersonating governor Sanusi Lamido Sanusi are closed down in battle against fraud
China uses Brics summit to further RMB internationalisation
South Africa and Brazil sign deals with PBoC to 'strengthen economic relations' between Brics nations
Osborne defends new Bank of England remit
George Osborne defends changes to Bank of England’s remit; UK economists say the finance minister has shifted the burden for stimulating growth on to the central bank
UK FSA finalises Libor regulations
Financial Services Authority produces final rules for regulating benchmarks, days before it will cease to exist; regulated firms will undergo compliance review by new watchdog in coming year
Blanchard and Summers warn on central banks' democratic deficit
Axel Weber opposes supervisory role for central banks, as Olivier Blanchard and Larry Summers warn expanded mandates cause questions over democratic accountability
BoE Financial Policy Committee gets three new members
Former LSE head Clara Furse among the new external members named to Bank of England’s FPC; Donald Kohn re-appointed to his post
Bernanke denies QE represents competitive devaluation
Fed chairman plays down effect of asset purchases on exchange rates and emerging markets; Axel Weber says countries can lean against QE if necessary, but highlights more serious flaws
Cyprus strikes last minute bail-out deal
Eurosystem agrees to €10 billion bail-out package after Cyprus vows to honour deposit insurance and resolve failing banks; questions remain over capital flight when banks re-open
Vietnam slashes rates in bid to kick-start economy
Central bank cites stable macro environment as it cuts policy rates by 100bp in an attempt to stimulate productive activity
BoE urges banks to use payments systems directly
Bank of England identifies need to clamp down on banks accessing high-value payment systems through other banks as it creates credit and liquidity risks