News
Former deputy chairman charged over Securency scandal
Bill Lowther to appear in court next week on charges of bribery; latest development in ongoing Securency corruption scandal
Euro climbs as major central banks boost dollar liquidity
Bank of England, Bank of Japan, European Central Bank and Swiss National Bank to offer three-month loans to market; euro moves higher against the dollar but nearly breaks Swiss franc floor
Central banks open new chapter as large net gold buyers
Thomson Reuters GFMS Gold Survey 2011 shows net official purchases of gold rose to more than 200 tonnes during the first half of the year; forecasts gold to reach $2,000 by year-end
RBA loses power to set wages
Reserve Bank of Australia governor Glenn Stevens's high salary in jeopardy; wages will be set by Remuneration Tribunal
Libya wants assets released sooner
Return of unfrozen Libyan assets "slow"; draft UN resolution circulated to release more
UK prepares to do battle with ECB
British Treasury unhappy with European Central Bank's proposed clearing house location restriction; will take argument to court if necessary
European Commission to consider euro bond options
European Commissioner José Manuel Barroso says options for common eurozone bond will be reviewed; Bundesbank's Jens Weidmann says bond would lead to "socialisation" of debt
BoE has 'space' to opt for more quantitative easing: deputy prime minister
Bank of England must independently decide on whether to introduce more quantitative easing, says deputy prime minister Nick Clegg; issues stark global economy warning
Non-cash payments growth slows
World Payments Report 2011 finds slower growth in non-cash payments; key regulatory and industry initiatives are combining to gradually transform the payments landscape
BoJ prepared to react to strengthening yen, says Miyao
Bank of Japan policy board member Ryuzo Miyao says central bank stands ready to stem deflationary pressures resulting from rising yen
Philippines appoints new Monetary Board member
Armando Suratos is new member of Monetary Board; replaces former finance secretary Juanita Amatong
US lawmaker presses for change to FOMC voting system
Congressman Barney Frank to introduce bill that calls for replacement of regional Fed presidents on FOMC with four external members; calls Fed presidents a "self-perpetuating" group
HKMA’s Chan happy with pace of renminbi internationalisation
Norman Chan accepting of need to test the offshore market with step by step internationalisation of renminbi; urges banks to get ready for trade using Chinese currency
Posen calls for UK version of Fannie Mae
Bank of England MPC external member Adam Posen says establishment of government-sponsored entities would make up for credit short fall in lending markets; calls for immediate quantitative easing
First regulatory co-operation council meeting held in New Zealand
Council of Financial Regulators meets; confidential discussions focus on identifying trends and issues and co-ordinating responses to them
South Korea advertises for new reserve manager
Bank of Korea seeks reserve manager; follows first gold purchase for years this summer
UK ring fence poses legislative challenges
ICB stops short of asking for complete separation of retail arm from investment operations; how the government will legislate on the proposals is still unclear
Germany names Asmussen as Stark’s successor
Germany’s finance minister, Wolfgang Schäuble, nominates his deputy Jörg Asmussen to replace Jürgen Stark on the European Central Bank’s executive board
BoJ minutes outline central bank's QE strategy
Bank of Japan minutes show boost in asset purchase programme aimed to influence longer end of yield curve; confirms intervention in yen foreign exchange markets
G-7 leaders pledge co-ordinated effort to tackle economic crisis
G-7 finance ministers and central bank governors say concerted effort will be made to co-ordinate action against global economic slowdown
Hong Kong regulator moves to authorise renminbi products under RQFII
Hong Kong regulatory platform ready to approve RQFII products; China’s central bank says priority to be given to Hong Kong-based subsidiaries of mainland banks and fund managers
Stark resignation marks turbulence at ECB
European Central Bank executive board member Jürgen Stark steps down as tensions flare in Frankfurt
Lagarde adds to pressure on G-7 meet
Lagarde calls for global action; Canada set to raise dissatisfaction with Swiss franc exchange rate limit at G-7 gathering in France
China moves closer to renminbi inclusion in SDR
Comments by Chinese officials hinting renminbi will be fully convertible by 2015 open door to inclusion of currency in IMF’s special drawing rights basket