News
Serbian governor contradicts Belgrade on EU aid
Radovan Jelasic, the governor of the National Bank of Serbia, has said that central and eastern European states should avoid over-reliance on European Union (EU) aid just hours after it emerged that Belgrade was seeking assistance from Brussels.
Italy's Draghi calls on banks to raise capital
Mario Draghi, the governor of the Bank of Italy, has urged the country's banks to increase their capital ratios to shore up confidence in the financial sector.
Central banks join the flight to quality
The financial turmoil has had a major impact on central banks' reserve-management policies.
South Africa's Mnyande: no time to sit and wait
Strengthening southern Africa's ability to prevent future crises is vital, Monde Mnyande, the chief economist of the South African Reserve Bank, has warned.
Bric economies call for greater voice
Brazil, China, Russia and India, the four leading emerging-market economies, have pressed for a greater say in the running of the Bretton Woods institutions.
Bernanke admits Fed failed in regulatory role
Ben Bernanke, the chairman of the Federal Reserve, has acknowledged that the central bank could have done a better job in preventing the financial crisis.
Serbia seeks more IMF, EU aid
Serbia is in talks with the International Monetary Fund (IMF) and the European Union (EU) to secure more emergency funding to bolster its reserve stockpile and limit the social impact of the crisis.
AIG succumbs to political will, names recipients
In a surprise move, American International Group (AIG), a beleaguered insurer, has revealed the recipients of $105.3 billion-worth of federal funds after coming under intense pressure from politicians to do so.
Basel, IADI issue deposit insurance guidelines
The Basel Committee on Banking Supervision and the International Association of Deposit Insurers (IADI) has issued a set of global guidelines for deposit guarantee systems.
China concerned over Treasury holdings
Wen Jiabao, China's prime minister, has said that the country, which has the biggest stockpile of United States government debt in the world, is "a little worried" about its US Treasury holdings.
Basel Committee, FSF expand membership
The Basel Committee on Banking Supervision and the Financial Stability Forum (FSF) have expanded to include a host of emerging-market economies.
De Larosiere, Dodge to lead new global watchdog
Jacques de Larosiere and David Dodge are to head a private-sector-sponsored international monitoring group tasked with assessing risk and fostering stability.
Chile makes mammoth rate cut
The Central Bank of Chile chopped 250 basis points off its key rate on Thursday, saying that it expected inflation to slide speedily.
BoE's Barker confident on quantitative easing
Increasing the money supply is a significant move that will prop up the economy, said Kate Barker, a member of the Bank of England's Monetary Policy Committee.
Basel Committee to raise capital ratios
The Basel Committee on Banking Supervision has said that it will raise capital requirements next year in order to ward off future episodes of economic and financial stress.
Switzerland to intervene to halt franc's gain
The Swiss National Bank pledged to curb the appreciation of the Swiss franc against the euro on Thursday and said that there was a risk of deflation over the next three years.
NZ's Bollard sees recovery soon
The Reserve Bank of New Zealand cut its key rate to a fresh record low on Thursday, but Alan Bollard, the governor of the Reserve Bank, signalled an economic recovery is not far off.
Estonia to be among first to recover: deputy
The risks to the Estonian economy have receded substantially and it may be one of the first country's to recover from the financial crisis, a deputy governor at the country's central bank has said.
Brazil cuts to record low to boost sluggish growth
The Central Bank of Brazil cut its core interest rate, Selic, by 150 basis points on Wednesday after data out Tuesday indicated Brazil was much more vulnerable to the global economic crisis than previously assumed.
Norway SWF's share strategy prompts record loss
Norway's Government Pension Fund - Global booked its steepest yearly loss in its ten-year history on Wednesday after its strategy to invest a higher proportion of its wealth in equities backfired
Old Lady begins quantitative easing
The Bank of England began its first round of gilt purchases on Wednesday, buying £2 billion ($2.8 billion) of the instruments outright in an attempt to boost the money supply.
AIG cutting costs, Bernanke assures senator
Ben Bernanke, the chairman of the Federal Reserve, has moved to soothe Congressional anger over the bailout of American International Group (AIG), saying that the beleaguered insurer had been forced to adhere to strict cost-cutting measures, according to…
NY Fed names new senior VP for cash and custody
James Narron is the new senior vice president responsible for the cash and custody function at the New York Federal Reserve.
Zambia asks IMF for help to boost reserves
Zambia is in talks with the International Monetary Fund (IMF) for loans of about $200m to help bolster its foreign-currency stockpile.