News
ECB’s Bini Smaghi calls for level playing field in prudential supervision
European Central Bank executive board member Lorenzo Bini Smaghi says level playing field between European regulators would create more uniform bank resolution regime
Gold to hit $1,600 this year; GFMS survey
New survey by GFMS predicts price of gold could hit $1,600 per ounce by the end of 2011; survey captures swing to net purchases by central banks
FDIC projects return to black
Federal Deposit Insurance Corporation expects its deposit insurance fund to return to positive figures this year after 13 quarters of negative funds
‘Disquieting developments’ in ETFs warrants attention: FSB
Financial Stability Board warns of potential issues arising from recent trends in exchange-traded funds (ETFs)
Risk management reforms a work in progress: IIF survey
Institute of International Finance survey says further progress on risk management reforms necessary; calls for more work to promote appropriate risk culture
FSB outlines road to shadow banking regulation
Financial Stability Board sets out detailed definition of shadow bank; outlines possible future steps to better regulate the system
Brazil prepares for Basel III
Brazilian financial stability report announces major changes will be incorporated in the country’s legislation; bringing it into line with Basel III
ECB’s Stark calls for end to short-term approach to monetary policy
European Central Bank executive board member Jürgen Stark says central banks should not be distracted by attempts to fine-tune economy; calls for refocus on monetary data
UK banking commission keen on ring-fencing retail operations
Safeguards on retail banking “common sense” chairman claims; Sifis need minimum capital ratio of 10%
Iceland in talks to avoid downgrade following 'no' vote
Governor Már Guðmundsson talks to rating agencies after Icelanders reject second Icesave deal
IMF praises PMA as Palestine bids for statehood
Palestine Monetary Authority “now in a position to carry out functions of a central bank” as the territory bids for statehood recognition as of September
Belgium unveils financial health indicator
National Bank of Belgium designs financial health indicator to monitor risk of company failures; says probability of bankruptcy higher than 25% for least financially sound
Bank’s Haldane warns capital inflows may overwhelm emerging markets
Bank of England executive director for financial stability Andrew Haldane says rapid rate of investment in emerging markets could lead to financial instability
UAE furthers involvement in bank director appointments
New rules will allow the Central Bank of the United Arab Emirates to veto candidates for bank director positions
Belgium modernises central bank statute
National Bank of Belgium calls extraordinary general meeting to discuss changes to statute governing central bank; attempts to avoid repeat of historic legal battle debacle over ancient wording
Sepa end-dates should be set in stone: ECB
European Central Bank proposes concrete end-dates for migration to Single Euro Payments Area
Greek debt still the most risky: CMA survey
CMA labels Greek sovereign debt as most risky in the world, second quarter in a row; countries elsewhere in Western Europe performed the best
EBA reveals benchmark for EU stress tests
European Banking Authority to apply 5% core Tier I capital ratio of risk-weighted assets on stress tests; says 90 banks will participate in tests
King attempts to mitigate pay freeze news
Bank of England staff receive memo notifying them of measures
New York Fed auctions off first AIG-related mortgage bonds
New York Federal Reserve sells $1.3 billion of American International Group (AIG) mortgage securities in the first round of auctions
ECB breaks norm with rate hike
European Central Bank hikes interest rates by 25 basis points after two years at historically low levels; warns on second-round effects from commodity price pressures
Treasury Committee’s Tyrie calls for reform of BoE board
Treasury Select Committee chairman, Andrew Tyrie, calls for urgent reform of governance rules at the Bank of England; warns new regulatory powers must be closely monitored
Japan offers ¥1 trillion to firms in disaster-stricken regions
Bank of Japan makes ¥1 trillion available for loans to financial co-operatives and banks in disaster-stricken regions
Portugal seeks bailout, Trichet confident rate hike will only help
Portugal seeks financial assistance from Brussels; European Central Bank president Jean-Claude Trichet says rate hike will help build confidence in stricken sovereign