News
US will resolve debt crisis by August 2: Obama
President Barack Obama says failure to raise the US debt ceiling would be “not acceptable”
BIS report highlights steps to curb sovereign debt risks
Basel working group outlines measures central banks can introduce to mitigate the risks associated with sovereign debt
Former Vietnamese governor suspended over corruption scandal
After reports implicate Le Duc Thuy, a former governor of the State Bank, the country’s prime minister forces him out of public service
BoE’s Haldane highlights increasing risks from high-frequency trading
Bank of England executive director of financial stability Andrew Haldane outlines policy measures to reduce systemic threat posed by high-frequency trading
New lending rules for Chinese SMEs overlook deeper structural issues in credit market, say analysts
China Banking Regulatory Commission introduces new measures to boost lending to small businesses; analysts say real problems lie in regulatory framework that favours the state sector
Fed's Hoenig warns of risks from late rate rise
Kansas City Federal Reserve president Thomas Hoenig urges Federal Open Market Committee to begin moving out of very accommodative monetary stance
T2S framework agreement delayed due to four remaining issues
There are four remaining issues that are delaying the forthcoming Target-2 Securities (T2S) framework agreement, according to an industry leader from the European Central Bank (ECB).
Regulators may not have authority to delay Dodd-Frank, warn lawyers
Some lawyers claim the CFTC and SEC may not have power to delay enforcement of the Dodd-Frank Act – a grey area that could lead to disputes
ECB rate hike highlights continued divergence with BoE
European Central Bank raises interest rates by 25 basis points as Bank of England holds for 28th month in a row; more expected from Frankfurt in 2011
China’s July rate hike will be last for 2011, say analysts
Analysts say slowdown in growth suggests People’s Bank of China will not hike rates beyond Wednesday’s 25-basis-point rise
Lagarde calls for greater legitimacy at Fund
Recently appointed IMF managing director Christine Lagarde lays out preliminary strategy for Fund; says legitimacy and diversity will play key role in future
RBI asked to regulate entire microfinance sector
Reserve Bank of India to receive powers to regulate entire microfinance sector under proposed bill
Portugal downgrade reignites sovereign debt fears
Moody’s downgrades Portugal’s credit rating four notches to junk status; decision sends shudders through European markets as contagion spreads across periphery
Hungary’s Simor under fire over financial loss
National Bank of Hungary governor András Simor defends management record after predecessor criticises $224 million loss
Uganda launches early retirement scheme
Two-hundred and fifty employees at the Bank of Uganda have retired as the retirement age is reduced to 55 years old
Norway SWF adds $1 billion stake in Paris to portfolio
Norwegian Government Pension Fund Global takes half-share in seven downtown Paris properties; move follows $700 million investment in London’s Regent Street
Romania joins Target2
National Bank of Romania moves step closer to euro adoption with launch of national component of large-value euro payments system
"Hawkish" Riksbank raises repo rate
Riksbank raises repo rate by 25 basis points amid growing inflationary pressures in Sweden; central bank does not alter future repo path to analysts' surprise
BoE urges expansion of Chaps membership
Bank of England executive director of banking services Chris Salmon calls for broader membership of UK large-value payments system
New deputy governor at RBI
Former Reserve Bank of India executive director Harun Rashid Khan assumes new role as deputy governor
Going-concern triggers on CoCos unrealistic, says White
Contingent capital instruments designed to provide a capital boost before the point of non-viability are laudable but unrealistic, says former RMMG chair Mark White
Philippines’ Tetangco sworn in for second term
Central Bank of the Philippines governor Amando Tetangco secures 'unprecedented' second six-year term as head of central bank
Ex-Malaysia assistant governor pleads not guilty
Former Bank Negara Malaysia assistant governor pleads not guilty to two counts of bribery
Eurogroup agrees to extend Greek loan
Eurogroup agrees to disbursement of €12 billion tranche for Greece from European Union and IMF; Fund will have final say