News
Basel Committee counter-cyclical proposals tie buffers to economic indicators
Committee publishes paper on counter-cyclical capital and defers recommendations on Basel III to oversight board meeting on July 26
Dodd-Frank passes but leaves questions unanswered
Financial reform legislation passes in the US Senate, as focus turns to the complex issue of implementation
Spanish banks’ reliance on ECB rockets again
Bank of Spain data shows the country’s lenders borrowed 48% more from the European Central Bank in June than in May; figures renew worry on sector’s health, but government remains adamant
Analysts dub IMF commitments to Asia redundant
IMF makes strides to repair relationship with Asian region through series of commitments, analysts say move lacks substance
Tough capital rules will not stunt growth: Bank's Miles
Bank of England rate-setter David Miles roundly dismisses industry argument that harsher capital standards will choke off growth
Hong Kong investors claw back more Lehman losses
Hong Kong unit of DBS bank will pay just under $84m in compensation to holders of Lehman-linked credit notes; settlement follows on from agreement on minibonds
Wadhwani scolds central banks for reluctance to say sorry
Former Bank of England Monetary Policy Committee member disappointed over central banks' reluctance to admit need to lean against the wind
FSA’s Turner: financial deepening has its limits
Financial Services Authority chairman Adair Turner says no clear relationship between financial deepening and growth in advanced economies over the past 30 years
BoE's Haldane calls for new measure of banks' growth
The “golden era” of finance between early 1990s and 2007 was no productivity miracle as national accounts data and growth accounting suggest
Former MPC member Blanchflower unconvinced by Bank’s QE paper
Former Bank of England Monetary Policy Committee member David Blanchflower highlights large errors in results used to explain impact of QE programme
UK FSA reorganisation happening quickly, says head of risk
The break-up of the UK Financial Services Authority is beginning to take shape, says the regulator's head of risk management
Uganda ready to shore up currency, says deputy
Bank of Uganda deputy governor Louis Kasekende calms markets with pledge to stabilise currency as security concerns grow after weekend bombings
ECB draws Hungarian government’s fire over pay dispute
European Central Bank opinion on proposed wage cap at National Bank of Hungary angers government; prime minister plans objection
Korean growth revision a sign of further hikes to come, say analysts
Analysts say Korean central bank is likely to raise rates further after it forecast higher growth in 2010
Estonia gets final nod to join euro
Europe's finance ministers fix conversion rate at 15.6466; preparations begin for January 2011 changeover
South Africa’s Gordhan stands up for inflation targeting, flexible rand policies
South African finance minister defends central bank’s key frameworks, lauding benefits to credibility and stability
Chinese ratings agency yanks triple-A ratings from US, UK
China’s Dagong Global saddles developed world safe havens with lower ratings on grounds of inability to repay debt; gives China three notch upgrade to AA+
ECB would have refused assets for Anglo loan
Collateral used by Anglo Irish to access central bank funds would not have been accepted by European Central Bank
Bank’s Bailey: creditors must pay for bank bailouts
Bank of England’s Andrew Bailey says idea of using debt restructuring as means to solve too big/ important to fail warrants “serious investigation”
Brussels will drain London banking sector: top bankers
HSBC chair Stephen Green warns that European legislation will eradicate London’s competitive edge as a financial centre; says Basel III will curb trade finance
Taiwan’s Perng calls on banks to curb housing boom
Taiwanese central bank governor Perng Fai-nan demands lenders tighten rules in order to stifle exuberance in housing market; real estate loans worth more than half the island’s GDP
Bank of Japan appoints first female branch manager
Tokiko Shimizu becomes first woman to head regional branch of central bank
Richmond Fed raises the curtain on the “Fed Experience”
Richmond Federal Reserve gears up for opening of its new permanent exhibit; features interactive displays and commentary on major economic events from Ben Bernanke, Paul Volcker
HKMA issues incident response and management procedures
Hong Kong Monetary Authority reminds firms of their requirements in response to incidents affecting customers