News
Malaysia and Turkey sign memorandum of understanding
Central banks agree to work to “foster strategic co-operation” between the two countries; want to promote bilateral investment and liquidity arrangements
Gold demand drops from high 2011 figures
Gold Demand Trends report from World Gold Council notes 5% lower demand in Q1 this year compared with 2011
BoE’s King says eurozone is ‘tearing itself apart’
Latest Inflation Report from the Bank of England lowers growth estimates for the economy; King says situation in eurozone continues to put pressure on the UK
ECB honours González-Páramo as police remove protestors
ECB holds event to celebrate work of José Manuel González-Páramo during his term as a member of the executive board on the same day a protest camp is cleared from outside the building
Bundesbank reveals location of gold holdings
German central bank says gold is held in four countries; kept in the vaults of the trading centres where transfers happened
No more Fed letter commitments expected, says Dudley
New York Fed will "stand down" as the CFTC and SEC "stand up", says New York Fed president
Hungary issues medieval gold florin coin series
National Bank of Hungary issues first in a series of medieval gold florin commemorative coins; both normal and piedfort versions available
European finance ministers agree on Basel III rules
Capital requirement regulations relaxed to allow unanimous support of regulations to implement Basel III; European Parliament negotiations next
Central Bank of Ireland’s McMahon lands at UK accountancy firm
Former head of financial institutions at Central Bank of Ireland appointed global head of bank regulation and restructuring at accountancy firm, Mazars
Chan highlights ‘strong business case’ for renminbi use
Norman Chan tells a conference in Tokyo that payments in renminbi can increase the efficiency of growing trade activity between Japan and China
National Bank of Ukraine publishes Encyclopaedia of Banking
First in a set of books explaining the banking system in Ukraine is released; series forms part of the celebrations of the central bank’s 20th anniversary
FDIC announces departure of general counsel
Michael Krimminger set to leave Federal Deposit Insurance Corporation later this month; joins Washington, DC law firm
US authorities finalise stress-testing guidance
Three federal banking agencies publish final guidance for large banks and stress community banks are not covered by the same requirements
Central Bank of Cyprus governor warns austerity is not enough
Panicos Demetriades calls on government to work alongside the central bank in getting the economy back on track; acknowledges impact the crisis in Greece is having on Cyprus
Asia regional FSB discusses deleveraging in Europe
Financial Stability Board Regional Consultative Group for Asia focuses on problems arising due to deleveraging of European financial institutions; also share thoughts on recent FSB initiatives
Bank of Colombia rate-setters air inflation concerns
Board of directors unanimously left policy rate unchanged but discussion over inflationary pressures as revealed by minutes shows split over severity of threat
Aussie demand surges following recent RBA rate cut
The Reserve Bank of Australia’s decision to cut interest rates on May 1 led to a sharp fall in the Australian dollar, but has also caused an uptick in demand for the currency, according to FX traders and strategists in the region
JP Morgan loss flags shortcomings of Volcker rule
Questions raised after chief executive claims new regulation would not have prevented the risky trades that caused JP Morgan to lose $2 billion; first version of regulation may have, says Caprio
Have your say on the next governor of the BoE
CentralBanking.com is running a poll asking about the credentials Mervyn King’s successor should possess
Differing growth predictions demonstrate uneven global recovery
European Commission estimates 0.3% contraction for eurozone GDP; Lithuania and Thailand meanwhile revise growth estimates upwards
New coins celebrate leadership change in Taiwan
Taiwanese central bank announces minting of gold and silver commemorative coins in recognition of the new president and vice-president
BoE holds fire on rates and quantitative easing
Benchmark rate and asset purchase programme unchanged; market looks to inflation figures next week for hints on MPC thought pattern
Bernanke says stronger banks will lead to 'robust' economy
Fed chair outlines progress made by financial sector; says improved credit conditions will play a part in creating a robust economy in the US
Bank of Spain plays down bank nationalisation talk
Spanish central bank says customers and depositors of Banco Financiero y de Ahorros have "no cause for concern" as the possible use of public funds to stabilise the firm is discussed