News
Fiji appoints new financial markets head
Faizul Ariff Ali is the new chief manager of the Reserve Bank of Fiji's financial markets division, the central bank announced on Wednesday.
All US states contract for first time on record
The economies of all of the 50 American states shrank in February for the first time since records began in January 1979.
G20 protests converge on Bank of England
The Bank of England on Wednesday was surrounded by anti-capitalist protesters, converging on Threadneedle Street to vent their anger at the crisis on the eve of the London G20 summit.
Banks reforming pay deals, says industry group
The Institute of International Finance (IIF), a global organisation for the banking industry, has said that financial firms are overhauling their compensation practices to reflect a longer-term outlook.
Mexico may tap Fed, IMF credit lines
Felipe Calderon, Mexico's president, said on Tuesday that the country was eligible to take a $40 billion credit line with the International Monetary Fund (IMF) as speculation mounted that the Bank of Mexico would soon use its $30 billion arrangement with…
China vows to expand currency-swap operations
The People's Bank of China pledged on Tuesday to expand its network of swap lines with other central banks days after agreeing a Rmb70 billion ($10.2 billion) arrangement with Argentina.
Euro inflation at new low, OECD wants more easing
The OECD on Tuesday urged the European Central Bank (ECB) to cut rates further and apply quantitative easing in a bid to stave off a severe economic contraction. The calls came as it emerged eurozone annual inflation in March had dropped to its lowest…
Wellink: long-term fix will abate near-term fears
A clear outline of the post-crisis regulatory landscape would help allay short-term fears, Nout Wellink, the president of the Netherlands Bank and the chairman of the Basel Committee on Banking Supervision, has said. Wellink also indicated that the…
Soros urges G20 to agree on SDR reallocation
George Soros, one of the world's most renowned hedge-fund managers, has called on G20 leaders to endorse the reallocation of rich country's SDR quotas with the International Monetary Fund (IMF).
Spain appoints new deputy amidst first bailout
The Spanish government named Francisco Javier Ariztegui as the Bank of Spain's new deputy governor on Friday.
SWFs look beyond Santiago
Although agreement on the Santiago Principles for sovereign wealth funds represents a remarkable achievement, the proof of their effectiveness will come in the implementation phase that has now started.
ECB issues Sepa "expectations"
The European Central Bank (ECB) published a list of expectations on Friday for how it would like to see stakeholders act to implement the Single Euro Payments Area or Sepa, amid concerns that the initiative will be swept aside by the financial crisis.
We won't let banks fail - Nigeria's Soludo
Chukwuma Soludo, the governor of the Central Bank of Nigeria, said on Monday that the central bank will not allow any of the domestic banks to fail.
Zhou warns against trust in external ratings
Zhou Xiaochuan, the governor of the People's Bank of China, voiced concern about the role of rating agencies in an essay posted on the central bank's website.
Zimbabwean prices stabilise after dollarisation
Zimbabwe's Central Statistical Office has announced that prices in the ravaged Southern African nation have started to fall since the adoption of the US dollar.
When will the sovereigns return - and how?
Participants in a conference on the management of sovereign assets and reserves, hosted by Central Banking Publications, were split over when public investors will regain their appetite for risk following significant losses during the current financial…
Fed's Stern: recession could end in mid-2009
In one of the most bullish assessments of the state of the US economy by an official of the Federal Reserve since the start of the crisis, Gary Stern, the long-serving president of the Federal Reserve Bank of Minneapolis, said that the recovery could…
Geithner outlines regulatory overhaul
Tim Geithner, the US Treasury secretary, sounded the knell of light-touch regulation on Thursday, outlining a reform agenda that if passed will see a single systemic-risk supervisor clamp down on all financial firms deemed either too big, or too…
Former Hungarian governor frontrunner for premier
Gyorgy Suranyi, a former governor of the National Bank of Hungary, is seen as a frontrunner to become the next prime minister of the eastern European state.
Geithner open to Zhou suggestion, but backs buck
Tim Geithner, the US Treasury secretary, said on Wednesday that he was open to People's Bank of China governor Zhou Xiaochuan's suggestion of expanding the use of special drawing rights (SDRs) but affirmed the dollar's strength.
Wellink eyes caps on bonuses and hedge funds
Nout Wellink, the chairman of the Basel Committee on Banking Supervision and president of the Netherlands Bank, has called for international principles for bonuses and financial sector pay.
European banks to drop interchange fees by 2012
The European Commission and the European Central Bank (ECB) have told European banks to get rid of interchange fees on direct debit transactions by 31 October 2012 under EU antitrust rules.
IMF to loan Romania $17.5 billion
The International Monetary Fund (IMF) has agreed a $17.5 billion loan to Romania to cushion the rapid withdrawal of capital from the eastern European economy.
Spain's Vinals to succeed Caruana at IMF
Jose Vinals, is the new director of the International Monetary Fund's (IMF) monetary and capital markets department, replacing Jaime Caruana, now general manager of the Bank for International Settlements.