News
King demands collaboration
Bank of England governor Mervyn King says countries must reach collective solution over global imbalances or risk crippling the global economy through protectionist policies
ADB launches landmark renminbi bond in Hong Kong
Asian Development Bank launches ground-breaking international renminbi bond in Hong Kong; Hong Kong Monetary Authority’s Peter Pang hails likely effects on renminbi trade, settlement
More discord over Basel III countercyclical buffers
Basel Committee’s Peter Praet acknowledges disagreement; Charles Goodhart warns lack of consensus will stop central banks acting to stem financial imbalances
Norway’s global sovereign wealth fund tops Nkr3 trillion
Government Pension Fund Global market value reaches Nkr3 trillion milestone following a weakening krone
ICFA talks Target2- Securities with the ECB
Jean-Michel Godeffroy, chairman of the T2S programme board at the European Central Bank, talks through the future of the settlement platform with Melanie White of ICFA Magazine
Basel Committee sketches regulatory action plan
Basel Committee on Banking Supervision identifies eight issues it is working on as Basel III reform package heads into political sphere
Bail-ins win further support
Bail-in capital meets with favour from speakers at London School of Economics conference
Take more proactive role in macroprudential policy, DSK tells Asia
IMF managing director Dominique Strauss-Kahn says emerging markets should lead by example and complement strong recovery with sound macroprudential policies
Korea’s Kim hints at move into gold: reports
Bank of Korea governor Kim Choong-soo tells lawmakers central bank must cautiously consider increasing gold reserves
Bank of Finland shuffles board members’ remits
Bank of Finland distributes Sinikka Salo’s responsibilities; parliamentary overseer wants board to run with three members
Ex-Bank MPC’s Kate Barker joins equity firm board
Former Bank of England Monetary Policy Committee member Kate Barker named non-executive director at Electra Private Equity
US Treasury stalls on decision to name China ‘manipulator’
US Treasury says it will delay publication of report on exchange rates until after G20 gathering in Seoul
Bernanke hints at further round of QE
Federal Reserve chairman Ben Bernanke says Fed is prepared for further stimulus
Botswana’s Mohohlo in call to spur capital market growth
Bank of Botswana governor Linah Mohohlo tells CentralBanking.com that growth will require a greater degree of financial literacy
Basel Committee releases proposals for pay
Basel Committee on Banking Supervision releases guidelines on methodology for compensation practices; says proposals seek to more closely align risk and performance at financial institutions
Academics embark on €1.8m project to predict crises
European Union-funded project will see economists, computer scientists and physicists cooperate in bid to improve financial forecasting
Google price index gets analysts’ thumbs-up
Commentators praise the innovation underlying Google price index; despite limitations, index could work as a CPI subset
Oversight panel blasts Tarp’s contracting standards
Congressional Oversight Panel condemns US Treasury’s governance standards in outsourcing Troubled Asset Relief Programme work to private firms, Fannie Mae and Freddie Mac
Sentance: Bank risks losing credibility if rates remain on hold
Bank of England external MPC member Andrew Sentance says central bank risks being seen as not taking its inflation-fighting remit seriously if it does not begin to raise rates
Singapore tightens to spur faster appreciation
Monetary Authority of Singapore tightens policy further to allow for faster appreciation of Singapore dollar
Buba’s Weber rebuffs criticism of German surplus
Bundesbank president Axel Weber dismisses argument that eurozone’s surplus countries should boost demand to aid deficit-laden neighbours; condemns “misleading” comparison to China
Hungary sets four hour limit for retail payments
National Bank of Hungary issues decree requiring banks to settle electronic payments within four hours; move may cost banks up to $40m, admits deputy
G30 unveils macroprudential manual
Group of Thirty recommends dual approach to macroprudential policy; says combination of fixed and flexible tools will equip supervisors to address systemic risks
Basel Committee outlines principles for good supervisory colleges
Basel Committee on Banking Supervision publishes its eight principles to guide the construction and running of supervisory colleges