News
French circus to perform as part of ECB cultural days
ECB reveals programme for cultural days 2012; spotlight for annual event falls on France and will for the first time feature a circus production
Ingves delivers regulation implementation ‘reality check’
Chairman of Basel Committee on Banking Supervision stresses importance of ensuring implementation of new regulations; sets out areas of focus for international reforms
Bank of Estonia appoints deputy governor to supervisory role
Madis Müller becomes a member of the supervisory board of the Financial Supervision Authority; takes over in October
Thai governor says Basel III needs improvement
Governor of the Bank of Thailand says Basel III is too tough on trade finance and simple derivatives transactions; discusses challenges facing the eurozone
BoE releases banknotes bearing Chris Salmon’s signature
Signature of the current chief cashier of the Bank of England to appear on new banknotes; production method for notes altered
US households face growing shortfall in banking services, FDIC survey finds
Households in the US designated as ‘unbanked’ and ‘underbanked’ increased to 34 million in 2011, according to new FDIC report
European Commission divulges banking oversight proposals
ECB at the heart of the new single supervisory mechanism; EBA given the task of developing a handbook to ensure coherence in banking supervision across member states
Sarb creates new position to streamline support services
South African Reserve Bank announces appointment of a chief operating officer; from November 1 Pradeep Maharaj will be responsible for all support services at the central bank
IMF mission begins new talks with Serbia
Fact-finding mission focuses on macroeconomic outlook, fiscal situation and effects of changes to the central bank law; government reveals efforts to cut budget
New UK MPC member coy over policy stance
Ian McCafferty maintains a neutral perspective ahead of his first MPC vote; says it is difficult to be precise about effects of QE
Riksbank unveils designs for new coins
Redesigned Swedish coins to have sun, wind and water theme; will enter circulation in October 2016
Bank of Finland appoints new head of legal affairs
Maritta Nieminen becomes first woman to be selected to lead the legal department; predecessor is retiring
ECB appointment hearing postponed due to lack of female candidates
Hearing to discuss Yves Mersch’s appointment to the ECB’s executive board on hold; talks with Eurogroup president taking place
Reserve Bank of Fiji delivers positive economic review
Latest economic review reveals generally optimistic developments in Fijian economy; growth and inflation expected to meet projections
Kim succeeds Shirakawa as chairman of BIS Asia council
Bank of Korea governor Choongsoo Kim named chairman of the BIS Asian Consultative Council
State Bank of Vietnam forms payments advice board
New board will advise central bank governor on payments issues; will conduct research and make proposals for ways to improve Vietnamese systems among other duties
BoE’s Dale says further easing carries ‘potential risks’
Spencer Dale recognises role monetary policy steps have played in stabilising UK economy, but warns further quantitative easing could come with drawbacks
Central banks launch joint investigation into Libor scandal
Economic Consultative Committee announces examination of reference rates used in financial markets; market will be consulted
Bank of Lithuania approves guidelines on financial services advertising
New guidelines aim to improve the quality and information content of financial advertising; central bank warns against ‘aggressive and non-informative’ adverts
Irish governor says senior creditors must take share of losses
Patrick Honohan wants the losses of failing banks to be shared with senior creditors; says governments’ rescue options are limited when debt is socialised
Hungary rejects leaked conditions for IMF programme
Viktor Orbán says Hungary will not comply with requirements for IMF-EU programme; leaked list includes elimination of controversial transaction tax applied to National Bank of Hungary
Swiss franc expected to retrace its fall as ECB news sinks in
The euro rallied against the Swiss franc for the first time in six months after yesterday’s announcement of new measures from the ECB, but FX strategists expect it to fall back towards 1.20
New Zealand’s Bollard reveals next move
Outgoing governor of the Reserve Bank of New Zealand announces his next job; leaves central bank after 10 years as chief
Bundesbank starts foreign reserve operations in Tokyo
German central bank upgrades Tokyo representative office on 25th anniversary to full trading office; starts trading in Asian timezone to lower costs and gain information edge