News
Japan and South Korea reinforce yen-won swap agreement
Bank of Japan and Bank of Korea increase size of bilateral yen-won swap arrangement tenfold; Japanese government also expands swap agreement with South Korea
FDIC appoints new director of division of finance
Craig Jarvill has temporary role as director of the division of finance made permanent
Bank’s King adamant inflation will fall
Bank of England governor Mervyn King maintains inflation will drop towards target after Office for National Statistics reports largest rise in annual CPI since September 2008
Basel Committee assesses progress towards new capital rules
Basel Committee on Banking Supervision monitors progress of member countries in adopting proposals for higher bank capital buffers
RMB’s rise to reserve currency status accelerates
Renminbi progresses towards becoming a reserve currency in its own right; a number of central banks have begun to diversify into the Chinese currency
Belarus given guidance to restore 'stability and prosperity'
International Monetary Fund tells Belarus to reduce inflation and raise interest rates; central bank sells off surplus office items
India adds two more members to board of directors
YH Malegam and MV Rajeev Gowda appointed as directors; announcement follows the seven new members added last month
Colleagues rate Trichet’s performance as chief as ‘good’
Trade union asks ECB staff how outgoing president handled European crisis; questions regarding internal management produce interesting results
Egypt banishes bankers from board of directors
New central bank law means bank employees cannot serve on the board; number of members of the board of directors will be reduced
G-20 endorses final G-Sifi rules
Finance ministers and central bankers offer support to G-Sifi rules; want to see framework expanded to all banks deemed too big to fail regardless of global reach
Luxembourg launches new central securities depository
Central Bank of Luxembourg prepares for adoption of Target2-Securities with launch of new central securities depository LuxCSD
Lithuanian central bank assists in counterfeit banknote investigation
Bank of Lithuania says it will help police in investigation to uncover source of recent rise in counterfeit banknotes
Euro area must stand ready to bail out banks, says Liikanen
Bank of Finland governor Erkki Liikanen says euro area governments must be prepared to inject capital into banks if they are unable to raise their funds in market
Treasury official accuses Iran of ‘increasingly deceptive tactics’
US says Iran is using deception to circumnavigate economic sanctions put in place to compel it to meet nuclear programme obligations; warns central bank of further isolation
Debt fears rise as Italian prime minister wins confidence vote
Italian prime minister Silvio Berlusconi wins vote of confidence in parliament as concerns grow over his government's ability to fulfil its fiscal consolidation package
FSA and SEC continue strategic dialogue meetings
US and UK lead the way on cooperation and idea-sharing as regulatory reforms kick in; collaboration on key changes crucial as world struggles to rebuild after latest economic shocks
Latin American and South-east Asian central banks confer
First Seacen-Cemla conference held in Malaysia; shows increasing cooperation between central banks, particularly in emerging markets
Fed should have adopted BoE's QE strategy, says Blanchflower
Former Bank of England Monetary Policy Committee member David Blanchflower says Fed should look to London as guide to twist yield curve after FOMC minutes reveal policy split
Priorities shift for reserve managers
Central bank reserve managers discuss focusing on safety of investments after the financial crisis; see uncertain future for global financial system
Risk.net poll: CCPs should have access to central bank liquidity
The majority of respondents to an online poll support central bank liquidity access for CCPs, but critics argue this would be likely to lead to the break-up of multi-currency clearers
Turkey deputy governor evaluates success of policy moves
Turalay Kenç says decision to act on credit growth in Turkey was necessary; widening the interest rate corridor was a 'successful exercise'
Australian regulator appointed secretary-general to Basel Committee
Basel Committee names executive general manager of Australian Prudential Regulation Authority Wayne Byres to replace Stefan Walter as secretary-general
Barroso spells out eurozone recovery plan
European Commission president José Manuel Barroso outlines roadmap to eurozone stability in last ditch effort to end the sovereign debt crisis
China slams US bill penalising renminbi imports
People's Bank of China says it firmly opposes bill passed by US Senate to impose countervailing duties on imports from countries undervaluing their currency