News
Kuwait central bank employees protest over pay
Central bank workers want salary increases; latest government workers to demand more after oil sector employees receive up to 66% wage hike
Barroso to ECB: do 'whatever is necessary' to maintain financial stability
European Commission chairman says ECB must ensure financial stability by any means; announces financial transaction tax and supports eurobonds
Italian politicians uneasy over Draghi replacement delay
Opposition leaders criticise delay in announcing successor for Mario Draghi as governor of the Bank of Italy
Russia’s Ignatiev commends ousted finance minister
Bank of Russia chairman Sergei Ignatiev says Alexei Kudrin was "very strong" finance minister following his dramatic resignation
UK’s FPC changes tack on capital requirements
Loosely-worded document does not clarify FPC’s demands on banks; new regulatory body asks for more powers in new legislation
European central bank gold sales lowest since 1999
European central banks sold just 1.1 tonnes in last 12 months; lowest since Central Bank Gold Agreements began
BIS working group urges more communication with traders
Bank for International Settlements working group report says authorities must be more alert to threats posed by high-frequency trading, calls for increased dialogue with market participants
Papandreou appeals for German support
Greek prime minister George Papandreou travels to Berlin to seek solution to sovereign debt crisis; due to meet German chancellor Angela Merkel
FSA asks UK government to be very clear in new legislation
Financial Services Authority warns government it risks creating “real confusion” over duties of new Financial Conduct Authority
Weber attacks international financial safety net concept
Former Bundesbank president Axel Weber raises objections to IMF as permanent liquidity swap provider; says measures are "undesirable" and "unrealistic"
Finland’s Liikanen discusses weaknesses in Europe
Erkki Liikanen wants progress in fiscal correction, bank capitalisation and economic governance; reminds Greece of its responsibility for itself
Indian government overhauls RBI central board of directors
Seven new directors replace retirees from Reserve Bank of India’s central board of directors; all will serve four-year terms
Carney to banks: stop blaming each other
Mark Carney, Bank of Canada governor tells banks to stop accusing others of bad behaviour; discusses Institute of International Finance's concerns about financial reform agenda
Taiwan again defends currency policies
Central Bank of the Republic of China (Taiwan) releases statement defending policies; second time this month public defence is issued
SEC's Schapiro under fire in Madoff conflict case
SEC's former general counsel David Becker inherited $2 million account with Ponzi fraudster
Gonzalez-Paramo urges speedy action in Europe
ECB executive board member pushes for more haste from European leaders to stem the crisis; says ECB has not decided when to end bond-buying programme
Pressure on the IMF to make surveillance a priority
Representatives from several global constituents call on IMF to take a central role in surveillance of countries as international reforms take hold
G-20 commits to ‘strong and co-ordinated’ response to challenges
G-20 answers calls for united action; countries commit to implementing credible fiscal consolidation plans, and ensuring strong, sustainable and balanced growth
Bank of Korea holds economic review meeting
Governor Kim Choongsoo meets with heads of institutions and scholars; domestic financial markets ‘overreacting’ to changes in external conditions
Video: BBA gives first, exclusive views on the ICB report
In an exclusive interview, the BBA discusses whether the ICB should have looked more closely at other separation models for its final report on financial stability in the UK
Developing country representatives lament poor banking oversight
Intergovernmental Group Of Twenty-Four On International Monetary Affairs And Development says IMF surveillance of financial institutions is scuppered by weak implementation framework and practices
IMF launches mobile phone application
International Monetary Fund releases mobile application; allows Apple iPad users access to statistical data
Kenneth Rogoff receives financial economics prize
Harvard University professor Kenneth Rogoff awarded 2011 Deutsche Bank Prize in Financial Economics
Long-term yields plunge as Fed initiates Operation Twist
Federal Open Market Committee to buy $400 billion in long-term government bonds in exchange for shorter-dated paper as yields on 10- and 30-year Treasury bills decline