News
Malaysia releases Basel III proposals
Bank Negara Malaysia issues concept paper setting out plans to strengthen capital adequacy standards for banking institutions; requests feedback on requirements, which follow Basel III recommendations
UK police seize more than £4 million in counterfeit coins
Metropolitan police uncover large counterfeit operation in UK; some of the fake coins may already be in circulation
Bosnia and Herzegovina refreshes banknote pool
Central Bank of Bosnia and Herzegovina announces injection of fresh banknotes to replace worn-out ones; notes match European ones for paper and security feature standards
BoE’s Bailey debunks ‘dangerous’ free banking myth
Andrew Bailey says reform of UK banking sector is needed to include upfront charges on banking services; calls current supposedly free in-credit banking a "dangerous myth"
Euroclear announces new chairman
Marc Antoine Autheman elected to take over as chairman from January 1, 2013; becomes deputy president in the meantime
Counterfeits found in Namibia days after new currency launch
Bank of Namibia reports discovery of low-quality forged banknotes following issuance of new series; reminds public to be vigilant in checking for improved security features when handling cash
Lagarde offers views on globalisation
Christine Lagarde discusses global connections and the future; takes feminist line in speech to graduating students
Bundesbank adamant on Greek reform programme
Monthly statement from Bundesbank says Greek access to aid should not be eased to avoid dampening of incentive to reform; EC’s Barroso sensitive to sacrifices made so far after meeting interim president
Bank Negara Malaysia reports slower economic growth
Overview of economy shows growth fell to 4.7% in Malaysia in the first quarter of 2012; domestic demand stays strong but export market slows
Canada behind macro-prudential curve, say former Bank governors
Paul Jenkins and Gordon Thiessen want responsibility for macro-prudential policy formally assigned in Canada; also urge creation of a framework in which to carry out these functions
Central Bank of Azerbaijan tackles counterfeiting
Central bank hosts workshop on combating currency counterfeiting; cash managers from banks and law enforcement agencies are told the local currency has become "strong"
BoE minutes reveal ‘finely balanced’ decision on QE in UK
Minutes from May meeting of Bank of England’s Monetary Policy Committee show uncertainty among policy-makers over the decision to leave asset purchase programme at its current level
OECD laments fragile, uneven global recovery
Economic Outlook predicts slower GDP growth across OECD countries in 2012; discusses delicate recovery around the world
IMF calls for looser monetary policy in the UK
Latest Article IV review of UK urges further QE or a cut to policy rate; Fund calls on Bank of England to act to boost growth
NY Fed's Dudley fears CCP capital 'cliff effect'
Supervisors should ensure the capital regime for cleared trades avoids a sudden leap in risk weights, says New York Fed president
Central Bank of Brazil offers boost to auto industry
Reserve requirements for loans on automobile projects reduced; move releases R$18 billion for use in offering credit for vehicle purchases
Bullion coin featuring menorah released in Israel
Third bullion coin in the Jerusalem Gold series is released; issuance in celebration of Jerusalem Day in Israel
Bank of England launches review of crisis-handling
Court of the Bank of England commissions set of reviews to learn lessons relevant for the bank’s future responsibilities; first public announcement regarding analysis of this type
Central Bank of Ireland governor takes pay cut
Patrick Honohan gifts portion of salary back to the government, resulting in lower salary than previous year; Annual Report shows profit of €1.2 billion
Swift chooses head of marketing as new chief
Gottfried Leibbrandt confirmed as successor to Lázaro Campos at global financial communications, products and services company
New deputy governor for State Bank of Vietnam
Vietnamese prime minister appoints Dao Minh Tu; joins five other deputy governors at the central bank
HFT adds value to the forex market, says Bank of England
While the effects of high-frequency trading activity should continue to be monitored, the practice adds value to the FX market, a senior Bank of England official has argued
Posen to leave Bank of England’s MPC
Adam Posen will not seek reappointment to Bank of England’s Monetary Policy Committee; takes on role as president of Peterson Institute of International Economics
Ukraine releases banking group identification regulation
New regulation brings Ukraine further into line with EU and Basel Committee principles; describes how banking groups come to be classified as such in the country