News
Central banks bought close to 440 tonnes of gold in 2011
World Gold Council unveils report showing large central bank gold purchases in 2011; emerging economies lead the way in rebalancing their reserves to include more of the precious metal
Fed official reports on success of dollar swap lines
Steven Kamin, director of the Division of International Finance at the Fed, tells Senate committee currency swap lines have helped ease dollar funding market; stresses agreements are risk-free
Ukrainian central bank signs agreement with banking association
National Bank of Ukraine agrees to deeper co-operation with Independent Banking Association of Ukraine; two bodies sign memorandum of partnership and co-operation
China prepares for an ‘arduous’ year
Task of maintaining financial stability will be ‘arduous’ in 2012, says People’s Bank of China deputy governor; focus will be on risks from regional banks and non-banking institutions
Zoellick to leave World Bank in June
World Bank president Robert Zoellick announces decision to step down this year; IMF’s Lagarde says he has served the international community with “great distinction”
Basel DVA capital deduction could cost banks billions
Billions of dollars in capital could be excluded under Basel proposals on derivatives DVA - with US banks hardest hit
Parliamentary committee calls for Kenyan governor to resign
Parliamentary Select Committee finds governor's "conduct and behaviour incompatible with the holder of the office of governor of the Central Bank of Kenya"; calls for resignation
Sepa end-date set in stone following final vote
European Parliament passes legislation imposing a February 1, 2014 deadline for migration to Single Euro Payments Area after regulation receives overwhelming support of MEPs in Brussels
US Treasury clarifies sanctions on Central Bank of Iran
US issues detailed list of frequently asked questions; says assessment of which transactions fall under sanctions will be done on case-by-case basis
Governor of Central Bank of Nicaragua steps down
Rumours of a spat with the Nicaraguan president swirl as central bank governor quits; finance minister put forward to replace Antenor Rosales as chief
Vietnam receives first tranche of loan from Asian Development Bank
Asian Development Bank to plough $730 million into updating Vietnam's electricity supply system; first tranche of $121 million released
Philippines warns on fake commemorative banknotes
Central Bank of the Philippines denies issuing a 150 piso commemorative banknote; asks the pubic to report any information on the ‘fictitious’ notes to the authorities
Moody’s alters sovereign debt ratings of nine EU countries
Austria, France and the UK see outlooks on Aaa ratings changed to negative; Spain and five other countries’ ratings are downgraded
BoE’s King explains continuing high inflation
Mervyn King writes to chancellor of the exchequer explaining why inflation remains above target; despite 0.6% drop in rate since December, governor must offer reasons for missed target
Japan 'clarifies' monetary policy stance amid criticism
Bank of Japan again increases size of asset purchase programme and sets an inflation target; follows political pressure that Japan is sending the message deflation is acceptable
Wright secures top secretariat job at Iosco
European Commission veteran David Wright is leaving academia to become the new secretary general of the International Organization of Securities Commissions
Central Bank of Ireland reveals enforcement priorities
Irish central bank tells financial service providers what it will focus on in terms of enforcement actions in 2011; warns reactive enforcement will also occur outside of set priorities
Kuwaiti governor resigns after 25 years as chief
Sheikh Salem AbdulAziz Al-Sabah resigns after a quarter of a century as governor of the Central Bank of Kuwait; reports point to political tensions as cause
Solomon Islands warns of counterfeits and announces new coins
Solomon Islands public warned about counterfeit banknotes in circulation; central bank also announces new coins to be issued
New South African banknotes will portray image of Mandela
First democratically elected president of South Africa honoured in currency redesign; new notes expected by the end of 2012
Central Bank of Iraq signs off plan for new headquarters
Central Bank of Iraq finalises agreement with Zaha Hadid Architects to design new office headquarters in central Baghdad
Central banks find novel uses for old banknotes
Central Bank of Ireland makes old notes into artwork; National Bank of Hungary offers the decommissioned banknotes to charities to burn for heating purposes
Shirakawa warns against renewed risk of spillover effects from Europe
Bank of Japan governor Masaaki Shirakawa says Asian banks should pay careful attention to deleveraging by European financial institutions; calls for further efforts to develop corporate bond markets in the region
Azerbaijan central bank deputy governors up for reappointment
Candidates for roles of first and two other deputy governors revealed as existing board members; appointments require full parliamentary support