News
FSB warns members not to misinterpret G-20 commitments
The FSB warns that some regulations appear to be contrary to the spirit of the OTC derivatives reforms agreed by G-20 members – a statement some believe was prompted by a disagreement over the scope of European derivatives regulation
Hansson pips Sutt to Estonia governor seat
World Bank economics chief Ardo Hansson narrowly beats rival Andres Sutt in race to become Bank of Estonia governor
Video: Banks can arbitrage central bank liquidity provision
A conflict between new liquidity regulations under Basel III and existing central bank operations leaves a gap that banks may be able to exploit, warns financial stability expert
Ex-UK chancellor calls for disbandment of Bank's Court
UK former chancellor of the exchequer Alistair Darling launches scathing attack on Bank of England's governance framework; says the Bank's Court should be broken up
G-sibs surcharge will have positive macroeconomic impact, says joint Basel, FSB working group
Macroeconomic Assessment Group says growth benefits from capital surcharge on global systemically important banks outweigh costs from higher bank funding costs
ESRB publishes foreign currency lending recommendations
European Systemic Risk Board releases recommendations on lending in foreign currencies; new measures addressed to member states, national supervisory authorities and European Banking Authority
Kuwait and China agree on deeper cooperation
Kuwaiti finance minister holds talks with Chinese representatives of central bank and sovereign wealth fund; agree on heightened cooperation
Dexia bailout spells trouble for Belgium and France, say analysts
Nationalisation of banking group Dexia threatens downgrades to sovereign credit rating of Belgian and French governments
Israel completes appointments to new rate-setting body
Israeli government confirms appointment of three external members to Bank of Israel’s new Monetary Committee; rate-setting body due to vote in October
Central banks shy away from euro reserves
New data from the IMF’s currency reserves database suggests reserves accumulation has slowed during 2011 and the appetite to hold euro reserves has also waned, particularly in emerging markets
IMF modelling work on liquidity risk points to capital hike, says Jobst
Recent analysis by the International Monetary Fund indicates that banks in the US need to raise capital to cover systemic liquidity risk threats
EBA stress test: €3.4 billion error in BPCE's derivatives exposure to France
Owner of Natixis overstated derivatives exposure to France by €3.4 billion after mixing up notional and mark-to-market numbers
European regulator holds crisis talks
Pressure mounts on European banks to bolster their capital buffers as European Banking Authority holds unscheduled talks in London
Japan extends emergency relief measures
Emergency loan facility and relaxation of collateral eligibility standards extended; sign of Japan’s continued economic struggle
Oil reserves eclipse Norway SWF assets
Norway budget confirms sovereign wealth fund assets still smaller than oil left in seabed
Sri Lanka releases customer protection charter for banks
Central Bank of Sri Lanka issues direction on customer protection in licensed banks; covers banks' commitments to customers and ways customers must also behave to ensure safe banking practices
Riksbank narrows banknote design contest
Swedish central bank selects eight finalists out of 46 entrants to go on to final stage of krona banknote design competition; winner to be announced next April
ECB celebrates Italian culture
European central bank announces 2011 cultural days will focus on Italian culture; events include classical and jazz music concerts, film screenings, literary and art events
BoE injects £75 billion to save stalling economy
Bank of England Monetary Policy Committee votes for further round of quantitative easing; increases size of asset purchase programme to £275 billion
Trichet bows out with new bond purchase scheme
Jean-Claude Trichet unveils a new covered bond purchase scheme; ECB governing council also agree to hold interest rates and support Jörg Asmussen for governing council post
EU considers deeper sanctions against Syrian central bank
European Union considers further financial sanctions against Syria amid continued repression of Syrian people; EU foreign affairs committee to discuss on Monday
Latin America reverses positions with advanced economies: IMF’s Eyzaguirre
Director of the IMF’s Western Hemisphere department says advanced economies have 'pneumonia', while Latin America only has 'a cold'; situation reversed from in the past
Central banker takes over as Labuan Financial Services Authority director
Encik Ahmad Hizzad bin Baharuddin takes over as head of the Labuan FSA; leaves role as director of Bank Negara Malaysia's Islamic banking and takaful department
EU plans coordinated action to recapitalise banks
European Commissioner Olli Rehn says capital positions of European banks must be reinforced; calls for comprehensive strategy to restore confidence in Europe