News
DSK’s future will ultimately be decided in France, not New York
Speculation that the case against the former IMF managing director Dominique Strauss-Kahn may collapse has reignited the debate of a return to French politics
Australian banknote makers charged with bribery
Securency and Note Printing Australia face bribery and corruption charges from Australian authorities; Reserve Bank of Australia cleared of any wrongdoing
Weber named UBS chair
Bundesbank former president Axel Weber set to be elected as chair of UBS by bank’s board in 2012
Tucker hints at shifting BoE attitudes and policies
Paul Tucker, deputy governor at the Bank of England hints he might vote to raise interest rates; calls for new “social contract” with banks
FSB probes deposit insurance response to crisis
Financial Stability Board launches peer review of deposit insurance systems; highlights cross-border relations and crisis response
Fed extends temporary dollar swap lines again
Canada, UK, Switzerland and ECB prolong arrangements; Japan to decide soon
Eurozone authorities are losing credibility – CNB’s Singer
Credibility is key in crisis resolution and European authorities are failing to achieve, warns Miroslav Singer, the governor of the Czech National bank
BIS sees profits plummet
Annual report shows net profit falls to “more normal” level after record amount last year
Basel Committee will not impose CoCo requirement for Sifis
Basel Committee proposes a staggered common equity capital surcharge for systemically important banks, but steers clear of contingent capital
Kenya overnight lending rate leaps in unscheduled move
Overnight lending rate raised to 8%, 175 basis points above the benchmark central bank rate
Sri Lanka allows renminbi in international transactions
Central Bank designates renminbi for banking transactions in Sri Lanka; next step in internationalisation of the Chinese currency
Greece austerity measures pass vote
Greece averts default as parliament passes €28 billion austerity bill; government set to receive €12 billion lifeline from EU and IMF
European stress tests not complete; EBA’s Enria
European Banking Authority chief says speculation on results of European stress test are “completely unfounded”
Lagarde takes on top IMF role at challenging time
IMF selects Christine Lagarde as managing director; she takes the helm as Fund criticises US
Regulation reform dominates British Bankers’ Association conference
Regulatory reform causing concern for all involved; any changes made must be the right ones, say speakers at the BBA Annual International Banking Conference
OECD says crises will continue to occur
Organisation for Economic Cooperation and Development report warns crises are likely to repeat themselves as the global economy becomes more interconnected
Afghan deputy attorney general pursues central bank governor
Afghan deputy attorney general issues international arrest warrant after Abdul Qadeer Fitrat resigns and flees to the United States; action comes amid Kabul Bank scandal investigation
King defends governance of FPC
Bank of England governor Mervyn King says Financial Policy Committee should remain a committee of the Bank Court to preserve independence
ECB lifts lid on shadow-banking activities
New statistics based on broad data collections will improve euro area reporting for financial institutions that fall outside traditional monitoring frameworks
BIS call for UK rate hike ‘nonsense’, says Bank’s Posen
Bank of England external Monetary Policy Committee member Adam Posen describes Bank for International Settlement’s argument for increase in Bank rate as ‘nonsense’
Sweden gives Ingves six more years as governor
General council of the Riksbank extends Stefan Ingves’ term as governor for another six years; first deputy governor and deputy governor resign
Sir Mervyn King collects more titles in Basel
BIS reveals Bank of England governor to chair Global Economy Meeting, Economic Consultative Committee and Group of Governors and Heads of Supervision; takes over in November
BIS Annual Report highlights action needed in key global economies
General theme of Annual Report is of slow global recovery; the United Kingdom, the United States and China all pinpointed for action
FSA outlines strategy for new conduct authority
UK Financial Services Authority says Financial Conduct Authority will be tougher and bolder than past consumer regulator