News
Trichet to rally German support for Greek bailout
European Central Bank president Jean-Claude Trichet expected to urge German lawmakers to stop dragging their feet over the Greek bailout, markets suffer as uncertainty persists
Fed advice cited in Senate vote against reform bill
Regulatory reform bill falls short of votes required for debate, Republican senator cites message from Fed staff criticising last-minute derivatives provisions
Ireland sets pace with governance reform proposals
The Central Bank and Financial Services Authority of Ireland release proposals to end poor practices at financial institutions
Subbarao moots Tobin tax to curb capital inflows
Reserve Bank of India governor Duvvuri Subbarao says all options on the table as it attempts to act on investment influx
Portuguese rating takes double-notch beating
Standard & Poor’s downgrades long-term rating to A- and short-term rating to A-2 on concerns over deteriorating macroeconomic environment, credit default spreads stretch further
Developing countries gain more leverage in World Bank restructuring
Historic package gives developing countries more say in international policy
Hungary cuts as critical opposition sweep to power
National Bank of Hungary trims rates by 25 bps as opposition election victory puts central bank on collision course with incoming government; former governor expected to be named finance minister
China must choose either stable prices or currency: PBoC adviser
Newly-appointed Chinese central bank adviser Zhou Qiren says the central bank cannot have a dual mandate of price and exchange-rate stability
Ex-Sarb Governor Mboweni joins Goldman Sachs
Former South African Reserve Bank governor Tito Mboweni becomes the latest former official to join the investment bank
Israel welcomes new law, no sign of rate-setters yet
Bank of Israel law creating a six-member Monetary Committee officially passed and governor Stanley Fischer thanks those who contributed, government has not yet begun search for external members
Shirakawa slams inflation-targeting 'fixation'
Bank of Japan governor blames single-minded use of inflation targets for the growth of credit bubbles, says price levels alone do not show health of the economy
Poland succumbs to political pressure and pays more into state coffers
National Bank of Poland could pay almost twice the amount originally offered
UK party leaders lock horns over breaking up banks
Liberal Democrat head supports Bank of England governor Mervyn King’s suggestion of splitting up banks by riskiness; disagreement on bank levies and regulator
US Senate finds rating agencies influenced by banks
Inquiry says conflict of interest between agencies and their customers did influence ratings of mortgage-backed securities
ECB boosts transparency with new rules on ABS data
European Central Bank kick-starts work to implement enhanced data requirements for asset-backed securities, market participants overwhelmingly in favour of move
Abandon your ‘furious’ lobbying: Obama to banks
Obama warns banks’ lobbyists off descending on the Hill; laments Republican attacks
Cross-border lending extends slump: BIS
Bank for International Settlements says international lending fell by $385 billion in last three months of 2009, figures reveal fifth consecutive quarterly drop
Fed profits leap by 50%
Federal Reserve's profits shoot to $53.4 billion allowing record transfer of $47.4 billion to US Treasury; value of Maiden Lane vehicles climbs $5.6 billion after 2008 loss
Subbarao, Meirelles join chorus for stronger renminbi
Indian and Brazilian central bank heads urge Beijing to allow renminbi appreciation, but G20 finance heads not expected to corner China at ongoing Washington meeting
US authorities reveal new souped-up $100 note
Tilt security features for first time; Benjamin Franklin still the face of hoarders' favourite
Swiss tighten liquidity rules for biggest banks
Swiss Financial Market Supervisory Authority and the Swiss National Bank clamp down on UBS and Credit Suisse through stricter liquidity regime
Fund calls for two taxes on banks
Leaked IMF interim report suggests a broad levy, and a profits and salaries tax as contingency against the risk of future government bailouts; rejects Tobin tax idea
France names top brass for new financial regulator
Deputy general secretaries for Autorité de Contrôle Prudentiel announced
Sovereign default the greatest threat: IMF
Sovereign default risk has soared and is the biggest threat to near-term stability, some segments of banking systems also present dangers