News
King named vice chair of European Systemic Risk Board
Bank of England governor Mervyn King named Trichet’s deputy on ESRB
Another SNB council member to step down next April
Swiss National Bank’s Konrad Hummler to step down in April; move comes after Armin Jans tendered his resignation in November
Basel III won’t be a problem if implemented correctly, says Bank of England
Latest Financial Stability Report stresses importance of long transition to new rules, and concerns over central counterparty clearing
Basel Committee publishes final Basel III rules
The Basel Committee has finalised its Basel III package - but work in certain areas will continue into 2011
Frankfurt taps NCBs for €5 billion
European Central Bank says greater amount of capital required because of increased volatility
Brussels forges ahead with Sepa end-date proposal, despite differences
European Commission proposes deadlines for national credit and debit transfers to migrate to Sepa system; move could divide stakeholders
Posen forecasts inflation ‘well below’ Bank’s latest estimate
Bank of England external Monetary Policy Committee member Adam Posen points to “empirical regularities” to explain why inflation could dip to less than 1% in years ahead
S&P lifts China rating one notch
Ratings agency Standard & Poor’s upgrades Chinese long-term rating; move follows similar step by Moody’s in November, places Chinese debt three marks short of prime rating
Islamic liquidity facility names Zeti chair
Bank Negara Malaysia’s Zeti Akhtar Aziz to chair International Islamic Liquidity Management Corporation; HSBC banker chosen as chief executive
ECB blasts Budapest again
European Central Bank says draft law to give parliament the right to appoint the majority of rate-setters further erodes National Bank of Hungary’s independence
Bank names former Apax COO as new head of HR
Bank of England names Catherine Brown as executive director for human resources
Sants: Publication of RBS report hinges on permission from bank
Head of UK regulator "extremely sympathetic" to calls for release of report
King called for global bailout in March 2008: WikiLeak
Bank of England governor told US ambassador of need for nations to cooperate in order to recapitalise banking sector
Fed writes rule to expand consumer protection
Federal Reserve proposes two rules to improve consumer protection, based on financial regulatory reform law; move part of broader rulemaking process that will turn to bank capital, leverage laws
Bank of Korea siphons $3 billion into SWF: reports
Korean central bank to place additional $3 billion in care of sovereign wealth fund, according to reports
Brazil unveils first of new family of banknotes
Central Bank of Brazil releases second generation of R50 and R100 notes
Cobbold confirmed as De La Rue CEO
Tim Cobbold named banknote manufacturer’s new chief executive
Nigeria stands by Sanusi’s government barbs
Central Bank of Nigeria maintains governor Sanusi Lamido Sanusi’s assertion that legislative branch absorbs quarter of all government overheads; comments spark anger from politicians
Map of interbank market first step in project to forecast crises
Study to forecast the tipping points where banking crises have systemic implications begins with topology of European interbank market
QE2 hopes reflected in dollar, risk reversal trends: BIS
Bank for International Settlements’ December Quarterly Review charts effects of QE2 anticipation, eurozone sovereign debt woes, in fourth quarter
Barnier draws UK lawmakers’ fire over new European supervisory structure
UK parliamentarians cross-examine European Commissioner for internal market regulation Michel Barnier on how much power new European supervisory authorities will have over national regulators
Sants details new regulator’s approach
UK FSA’s Hector Sants says primary objective of new banking regulator will be to resolve failed institutions without disrupting financial system; outlines new risk model
European banks could get slightly different version of Basel III: Basel Committee’s Wellink
Netherlands Bank governor and Basel Committee on Banking Supervision chairman Nout Wellink says “minor changes” possible to European version of Basel III
‘End the Fed’ author to lead congressional Fed oversight group
US congressman Ron Paul appointed chair of monetary policy subgroup in influential lower house financial committee; appointment could spark intense scrutiny of Federal Reserve