News
Korea's Kim joins push for update to central banks' mandates
Bank of Korea governor Kim Choong-soo calls for rethink on attachment to price stability; says central banks should be equally observant of financial stability
Wellink says Basel III to be phased in gradually in bid to soothe fears
Basel Committee chairman Nout Wellink says proposals on new regulations on banking will be introduced in an orderly manner; unrepentant on costs to growth
Kohn to remain at Fed until September
Vice chairman to stay on as governor until Congress appoints replacement
Bank of Italy economists propose fix for interbank stresses
Director of economic outlook and monetary policy department, and senior economist at Italian central bank say fix could alleviate liquidity strains
UK FSA risk chief Dewar resigns
Financial Services Authority's head of risk Sally Dewar will leave the role in May 2011 as uncertainty persists over the regulator's future; Dewar to follow chief executive Hector Sants
Belka approved as Polish central bank head
Former prime minister and finance minister Marek Belka gets Polish parliament's approval to take over as central bank chief; emphasises importance of zloty stability
Foreign holdings of US Treasuries slide after two weeks of gains
Data show holdings of US Treasuries by foreign central banks with accounts at the Federal Reserve declined this week, cancelling out two week of gains
Market tensions prevail, Trichet warns
ECB president says financial sector still shows signs of stress despite the success of the central bank’s bond purchase program
Shilling weakened after Kenya bought euros, say analysts
Analysts link recent weakness in Kenya’s shilling to euro purchases by the central bank
Bank to answer to former EBRD economist
Andrew Tyrie to chair influential group of lawmakers charged with monitoring work of the Bank of England
CNB’s Tůma denies reports he will head EU systemic risk board
Governor Zdeněk Tůma parries claims in Czech daily that he would be the founding head of the European Systemic Risk Board
Print more $2 bills, Taco Bell tells Fed
Marketing gimmick calls on customers to “appeal to” Fed to print more $2 notes
Basel III will cost 9m G3 jobs by 2015, say banks
Institute for International Finance report estimates will lead to euro area growth being 4.3% lower in five years’ time
Irish CB “taking action” to fix flaws, says governor
Governor Patrick Honohan tells CentralBanking.com the institution is rectifying cultural and structural problems flagged by his report into central bank’s pre-crisis performance
Japan’s new finance minister says government will not interfere in BoJ policy
Japan’s newly appointed finance minister Yoshihiko Noda says current central bank stance is fine
Iceland, China sign $512m currency swap deal
Icelandic and Chinese central banks agree on currency swap to boost bilateral trade; move emphasises recovery of confidence in króna
Europe raring to go on CDS rules, bank taxes
Brussels praises the political dynamic behind move for tightened financial regulation as French president Nicolas Sarkozy and German chancellor Angela Merkel call on Commission to speed up work
Venezuela cautiously reopens forex markets
Central Bank of Venezuela introduces tough rules for new regulated foreign currency market; bond trades will be carried out on new system under central bank's watch
Iosco names new technical head
Dutch regulator Hans Hoogervorst will take the chair of Iosco's technical committee this week
Eurozone seals deal on bailout fund
European finance ministers come to agreement on bond guarantee facility to support continent’s crisis-hit countries; bond markets reassured by move
Kenya’s Ndung’u moves to allay fears over 'weakening shilling'
Kenyan central bank governor Njuguna Ndung’u says currency's ten-year low against dollar is a result of fallout from Greek crisis
Canada’s Carney praises ‘decisive’ ECB step
Bank of Canada governor Mark Carney lends support to European Central Bank’s disputed bond purchase programme; says fiscal, not monetary exit will be tricky
Ireland’s Honohan to criticise central bank’s role in crisis: reports
Irish media say report authored by central bank chief Patrick Honohan will charge his own institution and the financial regulator with having failed in the lead up to the country’s banking crisis
Argentina tightens rules on dollar purchases
Argentine central bank toughens regulation for large dollar buyers; says move not intended to limit access to market