News
Financial Stability Board publishes survey responses
Comprehensive survey answers reveal FSB member countries’ plans to conform with the G-20’s recommendations for strengthening financial stability
Reserve Bank of Fiji reports $11.8m profit
Rise in value of foreign exchange reserves spurs $11.8m profit at Reserve Bank of Fiji in 2010; all profits transferred to capital Suva
Russia and ECB complete co-operation programme
ECB announces the completion of a co-operation programme with the Bank of Russia, designed to improve banking supervision and internal audit in the country
Japan suspends publication of financial stability report
Japan suspends publication of the March 2011 Financial System Report in light of the Tohoku earthquake
Australia, Finland and South Africa modernise web offerings
The central banks of Australia, Finland and South Africa all update their hi-tech offerings with new Twitter accounts, blogs and websites
Ireland announces stress test results
Central Bank of Ireland reveals €24 billion gap in funding for the country’s banks
Rejected Maiden Lane II offer baffles AIG
New York Federal Reserve declines AIG bid for Maiden Lane II assets; insurer says decision was unanticipated, expresses disappointment with Fed
Bullard calls for “last in, first out” approach to Fed exit strategy
St. Louis Federal Reserve president James Bullard says offloading assets from Fed's balance sheet before raising interest rates is his preferred exit strategy from accommodative monetary policy stance
House of Lords report slams bank audits
The House of Lords Economic Affairs Committee releases stinging report asking the UK government to consider significant reforms to the system of bank audits
Hoenig warns policy will mean "someone has to pay" in the future
Thomas Hoenig renews call for the unwinding of policies put in place during the financial crisis, urging the Fed to shrink holdings and raise rates to provide better long-term prospects for the US economy
Australia investigates options for updating payments system
Assistant governor of the Reserve Bank of Australia reveals insights into the review being conducted of the country’s payments system
IMF paper urges policymakers to address sovereign rating spillovers
Policymakers must account for risks posed by spillover effects of sovereign rating downgrades; contingency plan recommended to deal with possible instability
SNB counters IMF call for rate hike
IMF calls for Swiss National Bank to start raising interest rates; central bank fears rate hike could “dampen” export growth in Switzerland
Greenspan launches blistering attack on US financial regulations
Former chairman of the Fed claims the Dodd-Frank legislation does not meet “the test of our times”
MAS appoints Menon as new managing director
The Monetary Authority of Singapore (MAS) has named Ravi Menon as its new managing director. He replaces Heng Swee Keat who is leaving administrative service.
Polish OTC clearer aims for 2012 launch as Europe fragments
Another central counterparty plans to launch in Europe, starting with zloty-denominated interest rate swaps
HSBC chair expresses concern over new rules on global Sifis
HSBC chair Douglas Flint says additional loss absorbency for global systematically important financial institutions should apply to greater number of firms
Beijing official renews call to move away from “dollar trap"
Report by think-tank economist claims the international monetary system lacks stability and fairness as a result of dollar dominance
US regulators propose standards to give securitisers skin in the game
Regulators release risk retention rule; publish a specific loan-to-value ratio for those mortgages that will be exempted
Geopolitical factors won’t stop ECB rate hike, say analysts
Analysts expect the European Central Bank to raise interest rates at the upcoming monetary policy meeting, despite fears events in Japan and the Middle East may offset the global recovery
Former Obama adviser Romer urges Fed to consider price-level targeting
Former chair of President Obama’s Council of Economic Advisers Christina Romer says adoption of price-level targets at Federal Reserve would aid communication with public over policy
Change at the top for Lithuania
Vitas Vasiliauskas to succeed Šarkinas at the helm of the Bank of Lithuania
HK forms microfinance study group
Group to assess whether there is a need for microfinance provision in Hong Kong
Periphery and inflation offer headaches for the Eurozone, says Credit Institute panel
Participants on a Credit Institute panel debate held in London argued that peripheral funding and inflation are the major challenges for the Eurozone