News
PBoC launches short-term liquidity operations
China’s central bank now offers repos and reverse repos with maturities of less than seven days; seen as a step towards interest rate liberalisation
IMF sees southern European free-fall begin to slow
Mission chief for Greece says painful adjustment proceeding ‘apace’, although questions raised over potential €9.5 billion funding gap; Fund praises ‘impressive policy effort’ in Portugal
Fed researchers plot balance sheet exit strategy
Federal Reserve economists project possible routes towards returning the balance sheet to a 'normal' size, finding that the process should only have a temporary impact on the Fed's income
Dallas Fed calls for a return to 'traditional' system of smaller banks
Special report advocates limiting the size of banks; champions a return to less public support and greater market discipline
Ex-BoE policymaker Goodhart favours expanding balance sheet over NGDP target
Charles Goodhart says incoming BoE governor should buy a wider range of private sector assets; warns against nominal GDP level target
People: Dijsselbloem bids for Eurogroup chair; Sanusi takes reins at WAMZ
Eurozone finance ministers to elect new chair on Monday; West African Monetary Zone chair passes to Nigeria governor; Finland picks audit head
Calomiris unveils ‘Sword of Damocles’ CoCo to hold over CEOs
Columbia academic and ESRB committee member Charles Calomiris believes CoCos designed to force top bank executives to issue equity well before they are triggered would reduce systemic risk
Outgoing Hungarian governor fighting a losing battle on monetary council
Central bank governor and deputies outvoted on interest rate decision for fifth successive meeting; government minister tipped to be appointed next governor
Bank of Estonia eyes payments upgrade
Estonian central bank proposes new retail payments system that will meet incoming Sepa requirements; final selection requires approval of commercial banks
Bundesbank slams ‘excessive' Bangladesh death penalty threat
German central bank shelves co-operation plan pending Bangladesh ‘clearly and irrevocably' dropping plans to execute counterfeiters
SNB profits halve in 2012
Swiss National Bank reveals expected profits for 2012 are less than half the figure for 2011
RBI mulls bank supervision changes in light of IMF report
Indian central bank accepts potential for ‘moral hazard' in supervisory system; IMF report finds regime on the whole ‘well developed and largely in compliance with international standards'
Vickers lends support to ring-fence ‘electrification’
John Vickers backs powers to enable the UK’s financial regulator to forcibly split banks’ activities if they violate ring-fence
Filipino central bank launches exchange facility for nationals fleeing Syria
Filipino workers returning from Syria will have four months to change currency, as Syrian pounds and Philippine pesos are not otherwise convertible
People: Egypt deputy resigns; HKMA shuffles pack
Egypt's first female deputy governor follows her boss to the exit; HKMA assigns three executive director portfolios
Bundesbank to bring gold back home
Bundesbank will move 674 tonnes of Germany’s gold reserves, currently held in New York and Paris, to vaults in Frankfurt by 2020
Abe adviser hints at possible BoJ governor candidates
Economic adviser to Japanese Prime Minister Shinzo Abe suggests possible names and criteria for the next Bank of Japan governor
BoE governor says FPC ‘experiment' will need public acceptance
King says FPC will prioritise financial stability over economic policy of the day, but would need a stronger parliamentary mandate to implement loan-to-value ratios
Fed presidents back unemployment offensive
Minneapolis and Boston Fed presidents call for aggressive monetary policy to tackle lethargic unemployment rate
Banking union no ‘magic answer’ to Europe’s woes, says BoE’s King
Bank of England governor says no sign of any significant progress in resolving the core issues afflicting the eurozone. But banking union may help in dealing with too-big-to-fail banks
Bernanke champions FOMC policy and Fed independence
Ben Bernanke, chairman of the Federal Reserve, gives his support to the ongoing accommodative policy of the FOMC; stresses importance of central bank independence
Banque de France puts cyber crime defences to the test
French central bank simulates attack on financial system to assess financial institutions’ defences; co-ordination crucial to successful response
PBoC statistics show rapid increase in renminbi trade
Efforts made by the People’s Bank of China to promote renminbi internationalisation start to pay off, as cross-border trade in local currency increases 41% in 2012
Further dispute among Fed presidents
Three more Federal Reserve bank presidents deliver their verdicts on the FOMC’s accommodative policy stance