News
Eurozone crisis catches up with Estonia
Bank of Estonia becomes latest central bank to cut growth expectations; says eurozone crisis could cause a recession in the country
Zambian president sparks ‘fake’ money panic
Zambian president refers to 'fake' money in circulation; finance minister accuses central bank of shirking legalities in awarding latest banknote printing tender to German company
Debt tolerance has turned decisively, says Carney
Bank of Canada governor Mark Carney says deleveraging process is here to stay; warns if debt restructuring needs to happen, it should be done sooner rather than later
US sanctions on Iranian central bank inch closer
Senator Carl Levin reveals Senate’s 'strong' sanctions pass negotiating panel of House and Senate representatives 'virtually intact'; clears way for momentous Bill to pass
Sri Lanka eases rules on foreign investments
Central Bank of Sri Lanka changes regulations on foreign investments and domestic firms taking out foreign loans; aims to support expanding economic activities with additional financing
European Parliament to vote on Cœuré’s future at ECB
Economic and Monetary Affairs Committee recommends Benoît Cœuré for ECB executive board; plenary European Parliament vote to happen on Wednesday
BIS stresses central banks' role in combating global liquidity problems
Bank for International Settlements releases quarterly review; says central banks have the power to limit liquidity crises; study finds QE may not be as effective as was hoped
New governor selected in Chile
Sebastián Piñera, the president of Chile chooses Rodrigo Vergara Montes to lead the Central Bank of Chile; Montes takes over role before final Senate approval
Video: National Bank of Angola’s David Carvalho on reserves allocations to Brics
Angolan central bank looks to invest in Brazilian, Chinese and African debt as it reassesses its reserves guidelines in light of the eurozone debt crisis and persistently low US Treasury yields
Euro project failed to deliver on convergence promise
Uneven and diverging competitiveness lies at the core of the euro crisis, says Costas Lapavitsas, professor in economics at the School of Oriental and African Studies in London
IMF and China make joint call for stronger financial stability assessments
People’s Bank of China and International Monetary Fund hold joint symposium in Shanghai; call for better financial stability assessments in Asia and worldwide
European uncertainty reflected in central bank decisions worldwide
Germany, Austria, India and South Korea lower growth estimates as a slew of countries hold interest rates; world looks on and waits to see if Europe can agree a solution to the sovereign debt crisis
Avoid short-term ‘euphoria’ of excessive leveraging: HKMA’s Chan
Norman Chan, chief executive of the Hong Kong Monetary Authority, calls excessive leveraging the 'root cause' of the global financial crisis; tells of Asian experiences of crises
EBA finds €114.7 billion capital shortfall in Europe
European Banking Authority publishes recommendation and final results of bank recapitalisation plan; part of co-ordinated measures to restore confidence in the banking sector
Promotions and reappointments at the Chicago Fed
Federal Reserve Bank of Chicago announces new deputy chairman, reappointments of board chairman, two directors and Federal Advisory Council representative; also promotions in three internal groups
Bank Negara Malaysia MobileLINK bus begins tour
Malaysian central bank launches mobile customer service bus; part of efforts in promoting financial inclusion by extending the outreach programme to a wider community
Sluggish growth outlook forces ECB to take drastic action
European Central Bank lowers rates by 25 basis points as sovereign debt crisis weighs in on growth; Governing Council reveals new liquidity measures to ease funding conditions
Management of South African Mint Company suspended
South African Reserve Bank announces mystery 'technical issues' uncovered; top management suspended with immediate effect
Osborne to drive through BoE’s new supervisory powers
UK chancellor wants to drive through legislation granting the Bank of England statutory power for prudential supervision; ring-fencing left out of Financial Services Bill
US regulatory agencies issue new market risk capital rule proposals
US federal bank regulatory agencies remove references to rating agencies in new market risk capital rule proposal; change aids compliance with Dodd-Frank Act
Cœuré progresses towards ECB executive board membership
ECB Governing Council adopts Council of the European Union opinion and supports Benoît Cœuré to become a member of the executive board
Kamin confirmed as permanent replacement for Sheets at Fed
Steven Kamin is made permanent director of the Division of International Finance at the Federal Reserve Board; has been acting head since Nathan Sheets resigned in August
Czech prime minister wary of central bank losing independence
Petr Nečas does not want selection method of top central bank officials to change; warns Senate-agreed choices could lead to the politicising of the board
CB.com panel discusses changes in reserve management functions
CentralBanking.com poses the question: What do central banks want from reserves and reserve managers? Panellists discuss how the financial crisis has altered the role of reserve managers