News
Map of global banking network shows climb in contagion since late 1980s
Bank of England paper uses BIS banking stats to show potential for cross-border contagion has been rising for past two decades, reaching its apogee at the time of the Lehman Brothers’ collapse
Williams succeeds Yellen at helm of SF Fed
Head of research named new head of San Francisco Federal Reserve
SNB to close Geneva office as cash distribution services are outsourced
Swiss National Bank says Geneva office will close next year as cash distribution services to be carried out by private firms; fifteen staff affected by closure
Nobel Laureate Yunus dismissed from microlender by central bank
Bangladesh’s central bank removes Nobel Peace prize winner and founder of Grameen Bank Muhammad Yunus from helm of microlender
Efficient markets’ failure hamstrung central banks: CentralBanking.com panel
Reliance on efficient markets hypothesis to develop policy frameworks must be reversed, LSE’s Brandon Davies and Fathom director Danny Gabay argue
King warns of delay in switch to new regulatory regime
Bank of England governor Mervyn King says correct implementation of regulatory reforms takes precedence over achieving deadlines
Draft Irish law sketches resolution fund, living wills
Draft legislation from Irish government sets out rules on resolution fund that all banks must pay into, living wills; law includes strict penalties for failure
Bank won’t hike rates as gesture to market: King
Bank of England governor Mervyn King says use of interest rate to signal Bank’s intention to curb inflation would be self-defeating
Commentators split on Bank justification for high inflation
CentralBanking.com web panellists divided on whether Bank of England is acting within remit in accommodating persistently above target price pressures
Bailout renegotiation looms following Irish election
Ireland’s new prime minister-elect expected to press for renegotiation of EU-IMF bailout deal; scheduled to meet European Commission head José Manuel Barroso on Friday
Kenya’s Ndung’u reappointed for second term
Kenyan President Mwai Kibaki appoints Central Bank of Kenya governer Njuguna Ndung’u for second four-year term
Iosco draws systemic risk roadmap for securities regulators
International Organisation of Securities Commissions sets out ways in which securities authorities can help control systemic risk
Hanoi to ban trade of gold bars
State Bank of Vietnam says government will issue ruling barring the trade of gold bars; move will follow 2008 ban on gold imports
China attends first Seacen meetings
People's Bank of China governor Zhou Xiaochuan joins in 31st meeting of regional central bank heads in Sri Lanka
CNB to investigate energy company over early data release
Czech National Bank says it will look into premature release of annual results by Czech energy company ČEZ
RBI aims to cut reliance on banknote paper imports by half with new mill
Reserve Bank of India governor Duvvuri Subbarao says new state-of-the-art paper mill will cut imports for banknote paper by “more than half”
Coene to take the helm at Belgian central bank
National Bank of Belgium vice-governor Luc Coene to succeed Guy Quaden
Economist nominated as new member of SNB Bank Council
Former New York Fed economist Cédric Tille set to join Swiss National Bank at the end of April
Return to Glass-Steagall essential: Kansas City Fed’s Hoenig
Kansas City Federal Reserve president Thomas Hoenig says reform only scratches the surface without basic separation of investment, commercial banking activity for biggest banks
Higher capital rules don’t restrict capacity to lend: Bank’s Miles
Bank of England external rate-setter David Miles takes issue with linking tougher capital stance to reduced ability to lend; says Bank should not rush to temper inflation
Belgium’s Quaden quits
National Bank of Belgium governor Guy Quaden to leave in March; continued lack of unity in government raises concerns over central bank’s leadership
Look to global output gap: St. Louis Fed’s Bullard
St. Louis Federal Reserve president James Bullard says policymakers should look to global output gap for true measure of domestic inflation
Bank of Israel in the red by $4.9 billion
Israeli central bank reports loss for 2010; follows modest profit of $382 million in 2009
Bank’s chief economist joins dissenters on rate hike
Bank of England chief economist Spencer Dale votes for rate hike; analysts say outlook remains unclear given persisting weakness in data