News
BoE lending figures add credence to FLS scepticism
Business lending continues to contract in the UK, but pressure still mounts on the ECB to take steps to address eurozone recession
Thai central bank and government divided over rates
Bank of Thailand has resisted cutting rates in 2013 in the face of a strongly appreciating baht; IMF director says currency reflects the country and region's rebalancing
People: Iceland deputy handed second term; IMF appoints new statistics head
Arnór Sighvatsson gets second and final term at Central Bank of Iceland; Canadian ‘chief statistician' makes DC switch to head IMF stats office
National Bank of Poland updates 18-year-old banknote security
Security features of Polish banknotes to be overhauled in 2014; central bank keeping tight-lipped on the upgrades
Kocherlakota warns of consequences of ‘mandate-consistent' lower rates
Minneapolis Fed president highlights risks accompanying persistent low rates, but argues rates must go lower still to be consistent with dual mandate
Lagarde says ECB has ‘room to manoeuvre' on rates
IMF managing director says it up to ECB when to cut rates but calls for co-ordinated policies worldwide to shift ‘from three-speed to full speed' global recovery
FSB and IMF ‘animosity’ claim rejected
Think-tank report blasts lack of co-ordination between organisations in early warning exercise; FSB secretariat member rebuffs claims, and brands exercises a success
CPSS and Iosco start assessing compliance with FMI principles
Organisations begin process of monitoring ‘full, timely and consistent’ implementation of Principles for Financial Market Infrastructures across jurisdictions
Leap in renminbi trade strains PBoC exchange controls
Latest financial statistics show continued rapid rise in renminbi trade; PBoC deputy says exchange rate band may be widened again
King says independence is a tricky course to steer
BoE governor says central banks are expected to be partially, fully and non-independent in different parts of mandate, which is almost impossible; outvoted again at latest MPC meet
Bank of Israel director says central banks can 'overdo' liquidity
Andrew Abir identifies difficulty in providing the right amount of liquidity; says the risk of impairing market function was one worth taking
Arbitrage threat kept 'fallible' leverage ratio to 4%, says Vickers
Vickers says his 'blue skies thinking' leverage ratio would have been 10%, and adds stress testing avoids banks gaming the system
RBA counter-cyclical moves will be 'inevitable', says Commonwealth Bank economist
RBA monetary policy minutes released yesterday say scope remains for rate cuts later this year; commentators expect macro-prudential tools to 'become inevitable' to avoid a housing bubble
IMF flags growing risks from low interest rate environment
Global financial stability report urges caution by central banks employing loose monetary policy; says lack of adjustment to medium-term challenges could create ‘chronic phase’ of crisis
Fed demands more detailed 'living wills'
Federal Reserve and FDIC request additional information on risks that could derail resolution plans for largest bank holding companies, including issues of international co-operation
Draghi faces hostile Strasbourg reception but questions track record of SME lending schemes
ECB president grilled by European Parliament over the inability of small businesses to access credit; says action is 'absolutely essential'
Financial Stability Board demands faster OTC reform
FSB reveals that every one of its members missed the G-20 deadline for reforming OTC derivative markets; urges “rapid progress” in 2013
Cyprus president rejects Draghi concerns
Nicos Anastasiades tells ECB president that government is not interfering with central bank independence; stresses legitimacy of investigation into governor Panicos Demetriades
IMF's Blanchard warns Europe could drag world economy down
IMF chief economist says ‘three-speed’ global economy could be dangerous; World Economic Outlook urges central banks to keep policy loose but be ready with an exit strategy
World Bank says east Asia and Pacific at risk of ‘overheating’
Asia-Pacific policymakers urged to consider withdrawing stimulus – fiscal and monetary – as region’s larger economies reach their productive capacity and face inflationary pressures
BoE’s Bailey questions why top managers not punished for failure
Head of prudential regulator says it is ‘more than odd’ that people lower down the ranks in financial institutions were punished for failures but not top managers; warns EU remuneration plans undermine UK efforts
Schäuble condemned for ‘irresponsible' statements aimed at delaying banking union
Legislators and commentators round on German finance minister's 'political' comments suggesting banking union can't go ahead without treaty change
Eurozone problems still ‘looming large’, says Draghi
ECB president Mario Draghi says ECB’s policy not affecting all eurozone countries; central bank cannot tackle root causes of crisis and urges improved competitiveness
People: Central Bank of Trinidad and Tobago gets new deputy; Fiji management shake-up
Central Bank of Trinidad and Tobago names Alvin Hilaire as new deputy; Fijian IMF secondment sets off managerial merry-go-round; and more