News
Global supervisors gather at NY Fed for OTC meet
Regulators and supervisors head to Liberty Street for eighth OTC derivatives gathering
Philippines’ Tetangco to get second term: reports
Central Bank of the Philippines governor Amando Tetangco reportedly set to be offered second term at the helm; Tetangco credited with anchoring inflation expectations following recent spikes
FCIC report: the major findings
Risk summarises the major conclusions from the commission report
Ex-Vietnam governor linked to Securency bribery scandal
Payments from polymer-maker Securency alleged to have been channelled to fund education of former State of Bank of Vietnam governor Le Duc Thuy's child
Central banks break 20-year streak with net gold purchase in 2010
World Gold Council's Fourth Quarter Investment Digest says central bank purchases of gold slightly outweighed sales for first time in 20 years on growing demand for the precious metal
Basel III should aim higher on capital targets: Bank research
Discussion paper published by Bank of England and co-authored by external rate-setter David Miles suggests Basel III common equity requirements are too low
S&P downgrades Japan
Standard and Poor's downgrades Japan by one notch to AA– on fears that aging population places greater fiscal burden on Tokyo
LCH.Clearnet 'shocked' at Dodd-Frank capital requirement
Firm might not be able to live with 99% reduction in minimum capital requirement under Dodd-Frank Act, says chief executive
IIF’s Oudéa calls for G-20 taskforce for cross-border resolution
Institute for International Finance’s Frédéric Oudéa says G-20 taskforce will stir up political will for agreement on cross-border resolution
Bank’s Weale joins Sentance in vote for rate hike
Bank of England’s external MPC member Martin Weale joins Andrew Sentance in vote for 25-basis point rate hike; decision marks growing divisions in rate-setting committee
Supply shocks are dictating inflation, King insists
Bank governor reiterates view that temporary events are keeping prices elevated, says development of second-round effects key to picture on underlying inflation; remarks divide analysts
Gbagbo says he has taken control of central bank offices
Former President Laurent Gbagbo's seizes Central Bank of West African States’ Ivory Coast offices in power struggle with President Alassane Ouattara
FASB drops plan to extend mark-to-market rules to loans
US Financial Accounting Standards Board reverses on May 2010 decision to expand fair-value accounting to most loans; commentators welcome move, saying it improves chances of IFRS convergence
IMF uneasy on nagging weakness of eurozone’s banks
Fund’s Global Financial Stability Report and World Economic Outlook updates show concern over insufficiency of eurozone stress tests, links between banking and sovereign risks
MPC’s Sentance critical of fellow policymakers’ focus on output gap
Bank of England’s Sentance dismissive of overemphasis on domestic output gap; says global factors must not be neglected as merely short-term disturbances when conducting policy
RBI hikes, saying inflation set to climb
Reserve Bank of India raises key rates by 25 basis points each while lifting baseline inflation projection 150 basis points; points to complex interplay of demand, supply side factors
Iraq’s Al-Shebibi warns foreign assets at risk of confiscation
Central Bank of Iraq governor Sinan al-Shebibi says ruling to place central bank under cabinet supervision risked the central bank losing assets held overseas
FSA's tough stance opens door to investment bans
The UK Financial Services Authority has taken a leaf from the book of the European Securities and Markets Authority and started a consultation that may well end up giving the regulator the power to ban investments it deems to be unsuitable.
Oddsson renews spat over Icesave dispute
Former Central Bank of Iceland chairman David Oddsson says Mervyn King gave assurance that Icelanders would not have to bear costs of Icesave deposit insurance
Banking Commission chief makes case for ring-fencing retail operations
Independent Commission on Banking chief John Vickers rules out “radical narrow banking” but says some separation between investment and retail banks could help
Oberthur drops De La Rue bid after increased offer flops
French banknote printer Oberthur Technologies abandons bid for British rival De La Rue following failure of increased offer at 935 pence per share
Bank of Italy moves to new balance of payments data regime
Bank of Italy releases first complete series of balance of payments data under new collection system; central bank says improvements will provide more accurate measures of firms’ investment income
West African central bank governor quits
Central Bank of West African States governor Philippe Henri Dacoury-Tabley steps down amid claims he did not cut off funds to beleaguered Ivory Coast president Laurent Gbagbo
De La Rue rejects raised Oberthur bid
De La Rue board passes on new offer from French rival Oberthur Technologies of 935 pence per share, says bid still undervalues firm; US equity house Bain Capital reportedly backing Oberthur’s attempt