News
Draghi faces large pay cut
Bank of Italy governor Mario Draghi’s pay would more than halve as next European Central Bank president
Reserve managers must reconsider strategies: CentralBanking.com panel
Central bank reserve managers must think about diversification to better prepare for future crises, panellists say
Ex-De La Rue chief decamps to rival
Oberthur Technologies snaps up former De La Rue chief executive James Hussey; shares in UK banknote producer slump as Oberthur ends interest in rival
Hong Kong strengthens security for ATMs
Automatic teller machines will use chip-based technology to help cut fraud; magnetic strips on cards will still work for foreign transactions
Fed research director to retire
David Stockton, director of the division of research and statistics, will leave the Federal Reserve Board at the end of September after 30 years
Talk of restructuring worsened turmoil: Bini Smaghi
ECB executive board member blames inability of securities market programme to curb investor fears on renewed talk of restructuring; tells Central Banking Greece should have sought help sooner
Argentina’s Blejer likens Greece bailout to ponzi scheme
Former Central Bank of Argentina president Mario Blejer compares Greece bailout to ponzi scheme; analyst expects restructuring of debt to be delayed until 2013
Lending and investment operations split in Kuwait
Kuwait asks investment firms to apply for separate licences for lending and investment operations; mirrors “ring-fencing” in the United Kingdom
Bini Smaghi: Greece not our responsibility if it defaults
Executive board member tells Central Banking Greece's fate is in its hands; reprofiling dismissed on grounds that it would have "all implications" of a default
Fitch downgrades Cyprus over threat of Greek contagion
Fitch downgrades Cyprus three notches to A- amid concerns over Cypriot banking sector’s exposure to Greece
Afghan central bank reacts to critical report
Report unleashes criticism of central bank’s handling of Kabul Bank loan scandal; governor reacts angrily
Central Bank of West African States names new head
Former Ivorian minister Kone Tiemoko Meyliet is the new governor of the West African Central Bank
Barnier defends Basel III legislation
European commissioner Michel Barnier speaks out against reports suggesting drafted legislation of Basel III carries loopholes for financial conglomerates
Zero-policy rates 'ill-serve' emerging markets: BIS's Caruana
Bank for International Settlements general manager Jaime Caruana says near-zero interest rates are a disservice to emerging market economy borrowers
Tanzania jails two over central bank corruption scandal
First court cases heard after 2008 corruption scandal; two businessmen jailed
Central banks in 'uncharted waters', Lamfalussy tells ACI Congress
Former BIS chief recognises challenges facing central banks, but praises the ECB for its performance during the financial crisis
Fiji appoints new deputy governor
Acting deputy governor, Inia Naiyaga has role made permanent; spent nearly 37 years working at the bank
Fed took 'gamble' with QE: Reinhart
Federal Reserve former director of monetary affairs Vincent Reinhart pins volatile oil prices on Fed’s quantitative easing programme
Female IMF employees fire back at New York Times
IMF reject New York Times article; letter signed by 679 female employees says Fund is “not perfect” but is characterised by “dedication to professional excellence and ethical integrity”
OECD and South Africa to set up first African sovereign debt management centre
New centre will train African government officials in managing sovereign debt and set up a government debt database for the region
RBI wants new law to better regulate financial companies
Reserve Bank of India working group wants all large financial groups to be governed by new financial holding company structure; central bank would serve as regulator
Libyan SWF investments exposed
Leaked Libyan Investment Authority document offers insight into sovereign wealth fund's strategy
Lagarde confirms IMF candidacy, Brics unhappy
Finance minister of France throws her hat into the ring as candidate for next managing director of IMF; Brics condemn practice of choosing leader based on nationality
OECD calls for Fed and BoE to hike rates
OECD says close-to-zero policy rates in advanced countries are no longer needed; urges Federal Reserve and Bank of England to start raising rates