News
Britain on road to “lost decade”
Newest MPC member says fixing banks must be a priority for UK
Rwanda launches mobile money scheme
François Kanimba, governor of the National Bank of Rwanda, says the new mobile money system will be closely supervised
Government criticises Bank of Japan for excessive optimism
Finance minister comments reveal split in outlook with central bank
Banks will be held to their promises: Canada’s Carney
Mark Carney, governor of the Bank of Canada, warns financial institutions against complacency
British banks agree to tough new code
British Bankers Association (BBA) launches new FSA financial reporting code aimed at boosting investor confidence and bank transparency
Bundesbank will not be a better regulator: BaFin’s Sanio
Jochen Sanio, president of Germany’s banking regulator, strikes out against government plans to make the central bank sole regulator
Trichet rules out €30 banknote
ECB president Jean-Claude Trichet says the central bank will not issue a €30 bill after lawmaker’s request
Britain remains in recession
Pound falls on unexpected negative growth for three months to September; chances of expansion of quantitative easing programme rise
Fed looks to curb risk with wage rules
Federal Reserve says proposals aimed at ensuring wages will not undermine safety and soundness of banks
Hungarian regulator’s role to be amplified
Hungarian Financial Supervisory Authority will get more independence and the right to issue regulations if government proposal clears parliament
Regulation will not stave off future crises: Bank’s Tucker
Bank of England’s deputy governor argues that regulation will not address collective-action issues; sets out macroprudential tools
Eichengreen backs Fund as global lender of last resort
Berkeley economist Barry Eichengreen believes International Monetary Fund should in time take on the mantle of global lender of last resort
ECB attacks Brussels over hedge-fund rules
Concern comes after British authorities warned on rules
Barofsky: US Treasury abdicated responsibility for AIG
Neil Barofsky, the special inspector general for the Troubled Assets Relief Program (Sigtarp), accuses US Treasury of "abdication of responsibility" over AIG retention bonuses
Zim finance minister looks to cut central bank authority
Tendai Biti, Zimbabwe’s finance minister, has tabled a bill that seeks to reduce the powers of the Zimbabwe’s central bank and its governor
Living wills the way forward: Britain’s FSA
Britain’s Financial Services Authority also calls for higher capital and liquidity requirements
Norges Bank reverses emergency collateral rules
Norway’s central bank tightens collateral guidelines with immediate effect, proposes end to acceptance of bank bonds
Eichengreen sees dollar safe for now
The euro and the renminbi could both mount a strong challenge to the dollar’s status as the global reserve currency. But, as Berkeley economist Barry Eichengreen tells CentralBanking.com, must overcome some major obstacles before they can do so
Plosser attacks Fed liquidity support
Philadelphia Federal Reserve president says central bank has gone “far beyond” Bagehot’s lender-of-last-resort tenet, should accept nothing but Treasuries
Brazil capital control unlikely to slow real’s rise
Imposition halts currency’s appreciation but analysts sceptical move will help in longer term, investors jittery on Colombian peso
Paulson broke the law for Goldman Sachs, alleges book
Book accuses the former US Treasury Secretary of misconduct over alleged meeting with Goldman officials
Fed names new supervision head
Fed names Patrick Parkinson as Roger Cole’s replacement
King’s speech elicits mixed reaction
Commentators and politicians broadly support Bank governor’s call for break-up of biggest banks, but see no easy fix
King calls for radical reform of banking
Bank of England governor pushes for root-and-branch reform, says Bank will detail macroprudential approach later this week