News
Bernanke to make motion picture debut in “Too big to fail” film
New film chronicles the months leading up to Lehman Brothers’ collapse in 2008; centres on treasury secretary Henry Paulson
Finland supports Portuguese bailout; calls for international banking tax
National Coalition Party and Social Democratic Party agree to support bailout; want to see EU-wide banking tax “to collect funds from banks in advance in view of a possible future financial crisis”
IMF makes strong call for strengthened policy response in Europe
International Monetary Fund wants stronger financial integration to bolster Europe’s recovery; comes as officials gather in Greece to see progress
Thai governor becomes latest to attack IMF capital controls framework
Bank of Thailand governor Prasarn Trairatvorakul’s criticisms of IMF framework on capital controls come after similar comments from Brazilian, Indian officials
Lambert will not take up seat on Bank’s FPC
Former Monetary Policy Committee member Sir Richard Lambert says he no longer wishes to become one of four external members of macroprudential body
Basel Committee unveils final proposals on pay
Basel Committee on Banking Supervision reveals risk-adjusted remuneration report; urges large firms to move away from remunerating employees based purely on their profits
‘No reason’ to think trend growth has dipped: BoE’s King
But governor acknowledges impossible to know whether crisis will have long-term impact on sustainable growth rate
Funding pressures influencing rate votes: BoE’s King
Bank of England governor Mervyn King notes gap between rates and funding costs “enormous”; says “big picture not changed much”
Japan set to up legal reserve to safeguard against losses
Japan applies to increase capital buffer; wants to "maintain its financial soundness"
Draghi secures German backing for ECB presidency
Angela Merkel offers support for Mario Draghi to become the next president of the European Central Bank; says he is “interesting” and “experienced”
China and US could 'step up' cooperation
Zhou Xiaochuan believes increased cooperation between China and the US on financial reform and regulation is possible
India should have monetary policy committee: Subbarao
Reserve Bank of India governor calls for full “legally-backed” autonomy for the central bank; necessary for the establishment of a monetary policy committee
China to ‘strengthen investigation' into shadow banking problems
“Risk control situation is grim,” warns top banking regulator
Kazakhstan may convert some reserves into yuan: reports
Governor of the central bank says he expects the yuan to be “globally recognised as a reserve currency” this year; currency swap deal on the cards
Bair to leave FDIC in July
Federal Deposit Insurance Corporation chair Sheila Bair set to depart in the summer after five years at the helm
Bank of Namibia to issue new banknotes in 2012
New security features will be added to notes; old notes will still be legal tender
IIF: cross-border resolution regime an ‘absolute priority’
Global trade body for banking industry calls on G-20 to set up task force; calls on banks to identify “critical functions” that need to be preserved in the event of failure
Yellen defends IMF proposals on capital controls
Federal Reserve vice-chair takes Fund line on framework to tackle capital inflows; follows criticism of framework from Indian, Brazilian officials
S&P lowers Greece rating
Credit rating agency lowers Greece sovereign ratings; believes eurozone official creditors “may see a restructuring of official and commercial debt as the best way forward”
Elderfield details Ireland's new risk assessment model
Matthew Elderfield, head of financial regulation at the Central Bank of Ireland, reveals details of new ‘Prism’ risk assessment model
Rwanda promotes vice-governor
Claver Gatete, the vice-governor at the National Bank of Rwanda, is promoted to governor; former governor Francois Kanimba takes government role
Bini Smaghi favourite to next lead Bank of Italy
Analysts say European Central Bank executive board member Lorenzo Bini Smaghi is strong candidate to lead Bank of Italy should current governor Mario Draghi move to Frankfurt
Too big to fail must end; FDIC chair Bair
Being labelled a Sifi will not mean being anointed too big to fail, leading to automatic bailouts, Federal Deposit Insurance Corporation chairman, Sheila Bair warns
Indonesia issues tough sanctions for Citibank
Bank Indonesia bans Citi from opening branches for a year