News
US watchdog highlights discrepancies in Fed emergency programmes
US Government Accountability Office says Fed on occasions failed to properly document processes and decisions during crisis; says opportunities exist to strengthen risk management practices
ECB’s Constâncio stresses commitment to T2S settlement platform
First ever Europe-wide platform for settlement of bonds and equities trades has ECB’s full support; will play a crucial role in future of the single market, says Vítor Constâncio
SEC report reveals failings at top three rating agencies
A report released by the US SEC reveals S&P, Moody's and Fitch all still have significant failings in their operations
Peruvian president reappoints governor and chooses new board members
Julio Velarde retains governorship of the Central Bank of Peru; three university professors designated as board members
EU lawmakers agree on Stability and Growth Pact overhaul
Enhanced Stability and Growth Pact gets approval of European Council and Parliament; European finance ministers clear Asmussen for ECB executive board
Poland moves to halt zloty decline
National Bank of Poland intervenes in foreign exchange markets for third consecutive week to curb depreciation of zloty; Central Bank of Brazil also acts to smooth flow of real against dollar
Bernanke asks for help to stimulate the economy
Bernanke reiterates Fed is ready to act; calls on all policymakers to work towards lifting the economy
Financial Stability Board finalises Sifi measures
FSB settles on plan to tackle the 'too big to fail' problems posed by systemically important financial institutions; measures will be sent to G-20 summit in November
RBI’s revised securitisation guidelines could ‘kill’ Indian market
Latest Reserve Bank of India revised draft guidelines for securitised transactions draw criticism; one lawyer says the rules would "nearly kill" securitisation in the country
Greece will receive bailout funds despite missing target, say analysts
Greece finance ministry says country will fall short of its fiscal deficit reduction target for 2011; analysts still expect Troika to approve sixth bailout tranche
BoJ data signals boost in recovery effort
Bank of Japan’s Tankan survey highlights positive outlook for economy as business sentiment among Japanese manufacturers improves
FPC explains capital requirement switch
FPC explains worries about credit availability to business; says banks must know that capital and liquidity buffers are "useable" in a crisis situation
ECB’s Noyer says larger EFSF ‘unrealistic’
ECB governing council member says EFSF will not be made bigger; is open to schemes that would offer greater leveraging opportunities for money already committed
Finland announces markka conversion deadline
Finns have until February 29 to change markka banknotes and coins to euro; currency outstanding valued at $386 million
Denmark broadens temporary collateral facility
National Bank of Denmark widens banks' access to credit facility by expanding existing collateral rules to include bank credit claims
UK reveals design of new banknote
Bank of England to release new £50 banknote in November; design features British businessmen Matthew Boulton and James Watt
RBA announces representative in China
Ivan Roberts to open Reserve Bank of Australia representative office in Beijing; will assist with monitoring of economic and financial conditions in China
Bank of England urged to buy bank bonds if further QE implemented
Pension Corporation warns that second round of gilt purchases under quantitative easing would be detrimental to pension funds
Bank of Lithuania opens its doors to the public
Bank of Lithuania invites the general public to see inside the bank as part of the joint birthday celebration of the central bank and the national currency
Application process opens for board member at Bank of Finland
Application process opens to find replacement for Pentti Hakkarainen whose five-year term ends in February
New president fires low-inflation champion Fundanga
Central Bank of Zambia governor Caleb Fundanga fired by new president; no replacement announced yet for governor praised for low inflation efforts
SNB considers ceasing shareholder dividend payments
Swiss National Bank vice-chairman says central bank may stop paying dividends to its shareholders in order to rebuild its depleted capital base
Leaked letter reveals ECB austerity demands on Italy
Trichet and Draghi asked for 'pressing action' from Italian authorities; puts rumours of such communication to rest
Germany backs new EFSF powers
Concerns over firepower of European Financial Stability Facility remain despite its new enhanced powers after Berlin passes new legislation with majority vote