News
Ten to repay Tarp but COP wants more stress tests
The US Treasury on Wednesday said it will allow ten banks to repay government funds after stress tests showed that they held enough capital to see out the crisis.
UK eyes 2018 cheque-out
The UK is moving towards closing cheque clearing within a decade, Paul Smee, the chief executive of the UK Payment Council, told an industry conference in London.
Better plumbing can stabilise system: BoE's Tucker
Paul Tucker, a deputy governor at the Bank of England, has said that more widespread use of more open methods of trading would enhance the resilience of the financial system.
Ireland's rating downgraded for the second time
Ireland's sovereign credit rating with Standard & Poor's has dropped another notch on concerns connected to the rescue of the Irish banking system.
Sell yuan bonds: China banker to US, World Bank
Guo Shuqing says Washingtom, World Bank should offer yuan-denominated bonds
Russia could float rouble next year
The rouble may switch to a free float before 2011, a senior official at the country's central bank said at the weekend.
Lat Am's progress highlighted by crisis: BIS
The development of Latin America's financial markets and policymakers' enhanced credibility have been underscored by the region's ability to withstand the worst ravages of the crisis, a paper published by the Bank for International Settlements (BIS) said.
BoE looks to expands unconventional operations
The Bank of England has indicated that it wants to extend its quantitative easing programme to cover secured commercial paper.
SDR a better global currency: IMF's Lipsky
A senior International Monetary Fund (IMF) official has said that its Special Drawing Right (SDR) is a viable global reserve currency with many benefits.
Iceland's losses soar on back of writedowns
The Central Bank of Iceland made a Ikr8.63 billion ($69m) loss in 2008 after it wrote off Ikr75 billion ($607m) in collateral loans following the collapse of the country's banking sector.
Fed to hire ex-Enron lobbyist?
The Federal Reserve is set to hire a former Enron lobbyist to defend itself against Congressional charges of opacity, it was reported on Friday.
NY Fed's Dudley plays down balance-sheet fears
William Dudley, the president of the New York Federal Reserve, has attempted to soothe fears that the expansion of the Fed's balance sheet could stoke inflation.
Cuba gets first new governor in 14 years
Ernesto Medina, the head of one of Cuba's major banks, has replaced Francisco Soberon as governor of the central bank.
CEE central banks' reaction mixed on Latvia
The views of officials from other Central and Eastern European central banks on this week's escalation of Latvia's currency crisis are mixed.
Denmark urges banks to accept government offer
The National Bank of Denmark said on Thursday that almost half of its largest banks could go bust if they do not sign up to a government-funded initiative.
Iceland dismisses IMF advice and cuts
The Central Bank of Iceland's rate-setting board cut its key rate by a percentage point on Thursday despite the International Monetary Fund (IMF) last week supporting a "firm" monetary stance.
Kosovo joins World Bank
Kosovo on Thursday was granted membership of the World Bank after becoming the International Monetary Fund's 186th member in May.
NY Fed's Dudley on the future of securitisation
A smaller, more homogeneous and independent securitisation market is likely to emerge from the crisis, William Dudley, the president of the New York Federal Reserve, said on Thursday.
Latvia under intensified devaluation pressure
The Bank of Latvia on Thursday issued a strongly-worded statement defending the lats after the Baltic state's currency crisis intensified on Wednesday following a failed government auction.
New Nigerian governor criticises Soludo
Lamido Sanusi, confirmed as the new governor of the Central Bank of Nigeria on Wednesday, said he disagreed with his predecessor's plans to re-denominate the naira made back in 2007.
Bernanke announces Fed communication enhancements
In a bid to ease lawmakers' concerns over transparency, Ben Bernanke, the chairman of the Federal Reserve, has said that the central bank will publish several new reports on its lending.
Latvia PM dismisses devaluation advice
Latvia's prime minister has parried claims by a former governor of the Riksbank that the lats will need to be devalued in the near future.
Bank losses not as bad as 1990s, says Riksbank
The Riksbank has predicted a sharp, but manageable, rise in Swedish banks' loan losses, largely on the back of defaults by businesses in the Nordic region and the Baltic States.
Germany's Merkel attacks central banks
Angela Merkel, the chancellor of Germany, on Tuesday criticised the unconventional measures taken by central banks around the globe and called on them to revert to sane and independent monetary policy.