News
Fed’s Tarullo laments delays in shadow-banking reform
Federal Reserve’s Daniel Tarullo hits out at slow speed of money market and repo market reform; urges debate on functions that ‘shadow banks’ should perform
IMF’s Shinohara sees three ‘brakes’ on global growth
IMF deputy managing director tells ADB annual meeting that fiscal consolidation, bank deleveraging and foreclosures in the US pose substantial risks to global growth
Netherlands Bank appoints new chair of supervisory board
Alexander Rinnooy Kan to take office on July 1; replaces Fokko van Duyne, who has served maximum allowed term
Early warning system for systemic risk a 'huge challenge', say experts
The Office of Financial Research is charged with supplying data to help US regulators assess potential risks to the financial system but some experts are sceptical over what data should be used
Euro crisis drives up use of collateral in OTC derivatives, finds survey
Trouble in the eurozone increased use of collateral in over-the-counter derivatives market, according to trade association survey
New deputy enforcement head at SEC
New York office chief George Canellos moves to Washington, DC
HKMA strikes a cautious note on territory’s banking sector
Hong Kong Monetary Authority concerned about continued credit expansion in the territory and contagion risk from the European sovereign debt crisis
FSB to improve monitoring of compensation practices
Financial Stability Board to introduce two new mechanisms to help ensure a level playing field where executive pay is aligned with the long-term interests of financial institutions
ECB survey finds worsening borrowing conditions for SMEs
European Central Bank survey finds borrowing conditions for SMEs have ‘worsened considerably’ in past six months
RBA cites weaker economy in decision to cut policy rate
Reserve Bank of Australia cuts cash rate by 50 basis points; highlights weaker economic growth and lower-than-expected inflation for the move
US Treasury’s FX exemption hangs in the balance
A year after the US Treasury's proposed regulatory exemption for FX swaps and forwards, the position has never been confirmed - and some believe it may be reconsidered
MAS to use currency appreciation to keep inflation in check
Monetary Authority of Singapore says ‘gradual’ easing of exchange band will ‘anchor’ inflation; Asian demand to underpin economy despite ageing population and economic problems in the West
Mowry promoted to head IT division at Fed
Sharon Mowry named director of information technology and chief information officer at US Federal Reserve
Constâncio calls for euro-wide database of repo trades
European Central Bank vice-president calls for database of repo trades as part of new regulatory framework for shadow banking sector
Demetriades to take over as Central Bank of Cyprus governor
Central Bank of Cyprus governor Athanasios Orphanides replaced by president after first five-year term; Panicos Demetriades to take top job on May 3
Bank of Estonia notes increasing electronic payments
Central bank says more than 99% of non-cash payments in Estonia are now electronic; further increase in use of internet payments expected
BoE’s Tucker sets out plan to tackle shadow banking
Paul Tucker lays out ‘possible policy agenda’ for tackling shadow banking; warns against limiting sector altogether
BoJ to purchase another ¥10 trillion of JGBs
Bank of Japan increases size of asset purchase programme in line with expectations; faces call to end 'banknote rule'
Bank of Israel visitors centre recognised as heritage site
Society for the Preservation of Israel Heritage Sites names visitors centre a heritage site due to work done on preserving coins and educating the public
Bernanke places onus on US government to act
Bernanke calls on US Congress to act on fiscal policy; growth forecasts upgraded in latest Fed economic projections
UK banks exceed BoE target for £5 note dispensing
Bank of England reveals UK banks surpassed target of 1.2% of ATM dispense being in £5 notes; aim to increase levels of "good quality" notes in circulation
ECB cautious of damaged financial integration in Europe
European Central Bank releases downbeat Financial Integration in Europe report; Mario Draghi backs up message that integration work needs to be restarted
Kashya Hildebrand cleared over currency trading debacle
Auditors find no breach of regulations by former Swiss National Bank governor's wife; formal investigation launched after Philipp Hildebrand resigned
Central Bank of Nigeria embroiled in plagiarism row
Central Bank of Nigeria responds to reports of legal action regarding plagiarism in public addresses given by governor Sanusi; stresses strict ethical standards are adhered to in preparing papers