News
Bernanke disappoints markets by revealing little about QE3
Ben Bernanke’s Jackson Hole speech gets muted response from markets; gives no clear indication of whether third round of quantitative easing is forthcoming
UK banks reveal size of eurozone funding gaps
Banks reduce cross-border funding of peripheral eurozone assets in an attempt to mitigate redenomination risk - but funding gap still tops £10 billion for Spain
RBNZ appoints new head of financial markets
Reserve Bank of New Zealand announces commercial banker as new chief of financial markets department; takes up his position in September
State Bank of Vietnam announces counterfeit note findings
Fewer fake polymer notes were found in the country in the first half of 2012; good news for the currency after scandal involving Securency
Central Bank of Brazil cuts rates as uncertainty persists
Monetary policy committee votes unanimously for 50-basis-point rate cut; further reductions remain a possibility
Trinidad and Tobago governor looks to empower ombudsman
The governor of the Central Bank of Trinidad and Tobago outlines plans to tackle financial inclusion; hopes to legally equip ombudsman and improve financial literacy
RBA issues new market infrastructure proposals
Australian central bank unveils latest proposals to meet CPSS-Iosco principles for financial market infrastructures; says additional detail provides for ‘greater legal certainty’
Nigerian politicians blast central bank currency reform plan
Senate orders central bank governor to halt process of introducing a 5,000 naira banknote; chairman of Committee on Banking, Currency and Other Financial Institutions demands consultation
Cambodian governor highlights divergence in developing financial systems
Chea Chanto sets out ways in which South-east Asian central banks’ financial and banking systems differ; calls for regional development to catch up with international standards
Chile director presents results of fund management outsourcing
Divisional director at the Central Bank of Chile discusses changes to the management of pension reserve fund; responsibility given to external managers for first time
Single Asian currency not on the agenda, says Bank of Thailand chief
Bank of Thailand governor Prasarn Trairatvorakul rules out likelihood of Asia moving towards a common currency, but says renminbi may become dominant currency
Ghana replaces hologram on upgraded banknote
Acting governor issues new 50 Ghanaian cedi note; new design features emblem in shape of a cocoa pod that changes colour when note is tilted
Former central bank governor hired by Croatia’s largest company
Željko Rohatinski appointed as an adviser to chief executive officer of Agrokor; departed central bank in July amid accusations of political pressures
Draghi rallies German public to support eurozone reforms
President of the ECB says “exceptional measures” may be required to ensure price stability; reaffirms commitment to independence and acting within mandate
No ‘lame duck year’ for the PBoC, says CBJ author Hui
China’s central bank has made progress in reforming the country’s financial system during the past year; progress exceptional given leadership elections, says Hui
National Bank of Hungary cuts rates despite high inflation
Central bank cuts policy rate amid worsening growth figures and weak outlook; however, inflation expected to remain above 3% target “over a sustained period”
Draghi pulls out of Jackson Hole speech
President of the ECB stays in Europe on account of his “heavy workload”; statement comes shortly before plans for single banking supervision mechanism announced for eurozone
Bank of Mexico ‘categorically rejects’ altering money transfer records
Central bank dispels "unfounded" accusations of altering receipts for large money transfers to aid a political candidate; denies capability to carry out such wrong-doing
Fed considers delaying stress tests for large banks
Federal Reserve considering altering the implementation timeline for stress tests required under Dodd-Frank; follows concerns raised about immediate effect date of changes
Shake-up of Nigerian currency announced
Sanusi Lamido Sanusi outlines plans for “restructuring” of currency; changes include introduction of new 5,000 naira banknote and improved security features on existing notes
Filipino banks offered help after tropical storm
Variety of measures put in place to ensure banks in areas affected by tropical storm and severe monsoon can assist with rebuilding efforts; penalties for missed payments set aside for example
Outgoing Serbian vice-governor fearful over repercussions of law change
Bojan Marković voices concerns over long-term impact of changes to Serbia’s central bank law; says rushed passage of legislation and change in senior management could cause problems
Central Bank of Cyprus calls in external investigators
Professional services firm to look into the circumstances that led two Cypriot banks to seek state support; investigation starts today
Barbados celebrates central bank anniversary with new banknote
Redesigned note entered circulation this month to commemorate the central bank’s 40th birthday; security features same as those found in previous currency