News
RBI issues final guidelines on bank compensation
Reserve Bank of India releases final guidelines on compensation practices for private banks operating in India; measures will come into effect later this year
Euro counterfeit banknote figure creeps up
Number of known fake euro banknotes hit 310,000 during in the second half of 2011, up 5% on the first half of the year
Pakistan forges ahead with mobile banking promotion
State Bank of Pakistan signs agreement with national telecommunication authority to further the development of mobile banking in the country
EFSF rating in spotlight as speculation on eurozone downgrades emerges
Rumours that France and other eurozone sovereigns will lose AAA ratings spooks markets; move will place a question mark over European Financial Stability Facility's rating, say analysts
Chile lowers rates for first time since 2009
Central Bank of Chile announces 25-basis-point cut to benchmark rate; stresses commitment to maintaining 3% inflation target
IMF paper: High international reserves are not panacea for low-income countries
International Monetary Fund study measures economic impact of external shocks on low-income countries with different levels of international reserves; says reserves provide cushion not remedy
New chair for Basel Joint Forum
Basel-based Joint Forum on issues common to the banking, securities and insurance sectors selects new head
Gold and currency earnings secure profit for SNB
The Swiss National Bank expects to see annual profit of SFr13 billion ($13.6 billion); able to make the regular distribution to Cantons
Fed appoints new special adviser
US Federal Reserve board chooses Johns Hopkins University professor Jon Faust as a special adviser
Investigation into governing board could delay Swiss governor selection
Thomas Jordan firm favourite to succeed as governor; decision not expected soon as investigation into senior staff's finances continues
Japan nervous of implications of Volcker rule
Bank of Japan releases letter sent to US officials outlining impact of changes to speculative trading controls; fears Japanese government bond market will be hit
Fed expects $76.9 billion transfer to US Treasury
Federal Reserve estimates it will provide $76.9 billion of funds to the US Treasury after high returns from interest on income
ECB and BoE join other countries in rates hold
European Central Bank and Bank of England join the National Bank of Poland and Bank Indonesia in leaving interest rates on hold; ECB president welcomes U-turn on Greece private sector involvement
Basel 2.5: US ratings workaround too punitive, banks complain
Securitisations suffer in draft rules that avoid use of credit ratings - a Dodd-Frank Act requirement
Bank of Lithuania sells majority share in CSD
Finnish company buys 60% share in CSD; central bank hopes new investor will progress the depository’s offerings and promote the Lithuanian capital market
Shirakawa: central bank liquidity measures can only ‘buy time'
Bank of Japan governor Masaaki Shirakawa says lessons from Japan's lost decade show structural reforms are needed to return to sustainable growth; welcomes intellectual shift on policy towards asset bubble
FSB discusses plans for the year
Financial Stability Board covers 2012 work plan in latest meeting; considers extending Sifi framework to domestic banks and globally significant insurance companies
IMF models new liquidity stress test framework
International Monetary Fund study creates new template to conduct balance sheet-based liquidity stress tests
Lesotho appoints governance trio
Central Bank of Lesotho announces appointment of new governor and two deputy governors
Chinese government and central bank identify targets for progress
People’s Bank of China publishes outcome of government planning meeting; document reveals aims for variety of areas including monetary policy and systemic risk management
Bank of Canada survey forecasts weaker sales growth this year
Bank of Canada Business Outlook Winter Survey shows outlook for sales growth in 2012 turns negative as demand continues to weigh on firms’ expectations
Malawi awaits new deputy governors
President Bingu wa Mutharika yet to appoint candidates for two vacant deputy governor positions at Reserve Bank of Malawi; means empty seats in monetary policy committee meetings
Malaysia announces new coins’ circulation date
Bank Negara Malaysia announces new coins to enter circulation this month; new banknotes will not be released until the end of 2012
New appointments for two Basel-based committees
Agustín Carstens, governor of the Bank of Mexico, and William Dudley, president of the Federal Reserve Bank of New York, take on positions on international committees