News
Former BoE policy-makers discuss QE and financial repression
Andrew Sentance joins Fathom Monetary Policy Forum for the first time; joins Rachel Lomax and Ian Plenderleith to discuss quantitative easing and financial repression
EPC outlines new models for mobile payments
European Payments Council requests feedback on new model for contactless and remote mobile payments in Europe; focuses on the preferred type of secure-elements technology used in mobile phones
Malaysia and China extend currency swap arrangement
People's Bank of China and Bank Negara Malaysia renew and expand currency swap arrangement, designed to facilitate greater bilateral trade and investment
Norges Bank announces end date for public to exchange old banknotes
Norwegians have until November 2012 to exchange old series of banknotes before they are rendered worthless, 11 years after new currency series was introduced
RBA surprises markets with rate hold
Reserve Bank of Australia policy board leaves cash rate unchanged despite market expectation of 25-basis point cut in rates due to weak external outlook
SNB’s Jordan pledges to maintain Swiss franc’s currency floor
Swiss National Bank acting chairman, Thomas Jordan, preserves commitment of Sfr1.20 floor to euro; analysts expect the central bank to defend but not raise floor
Lithuanian central bank completes euro credit migration to Sepa
Bank of Lithuania says government institutions holding accounts with central bank will now be able to initiate and receive payments in euros through Sepa credit payments scheme
Tri-party repo taskforce to disband without delivering key reform
The New York Fed's concerns about intra-day credit should be tackled by JP Morgan, BNY Mellon and DTCC, an industry taskforce concludes
Queen's portraits from banknotes and coins to appear on stamps
New stamps issued to celebrate the Queen’s diamond jubilee; first time the official portraits from banknotes, coins and stamps have been brought together
Netherlands Bank blasts EU financial transaction tax proposals
Netherlands Bank warns of large financial and economic costs associated with the adoption of a financial transaction tax in Europe; says hard evidence of stability benefits are 'lacking'
EBA rejects claims of problems with banks’ recapitalisation plans
European Banking Authority slams reports 'purporting to contain factual information'; says majority of banks’ plans appear to be in line with EBA recommendations
FSA chief hails new twin peaks approach to regulation
Financial Services Authority head Hector Sants says approach to supervision of banks in the UK will be more proactive and judgement-based; warns of 'tick box' approach to regulation in Europe
Estonian central bank finds public retaining kroons as memento
Bank of Estonia study finds 81% of respondents are holding on to some kroon cash; not using it for savings shows confidence in the euro, says head of cash and security department
Sub-Saharan Africa regional FSB group discusses challenges faced
FSB regional group discusses 'particular' challenges facing Sub-Saharan Africa; growing complexity of banking systems and cross-border spillover effects are causing concern
Dominican Republic confident in new inflation target; holds rates
Central Bank of the Dominican Republic leaves rates unchanged at first meeting since introducing a new inflation targeting framework; says it will meet 5.5% inflation target by the end of 2012
Italian banks may need state aid to hit 9% core capital, says Saccomanni
Bank of Italy director-general says country’s banks may require government assistance to meet stricter 9% core Tier I capital ratio; new deputy director Salvatore Rossi optimistic growth outlook
Czech central bank concerned over Esma's power
National supervisors should be responsible for their domestic institutions, says Czech National Bank
Fischer calls Israeli economy a ‘miracle’
Bank of Israel governor says peace deal is needed to achieve the growth and prosperity the country deserves; refuses to set timeline for returning interest rates to 'normal level'
Malaysian and Thai central banks agree deeper cooperation
Bank Negara Malaysia and the Bank of Thailand sign agreement to facilitate a cross-border collateral arrangement for eligible financial institutions in the countries
Hong Kong to launch new microfinance pilot scheme
Hong Kong Mortgage Corporation says it plans to issue up to HK$100 million worth of loans as part of three-year long trial
BoE's Posen continues crusade for SME credit
Posen laments decline of political interest in plans for credit easing for SMEs in the UK; reaffirms his drive to improve the provision of finance for smaller non-financial corporations
RBI's Subbarao highlights new ‘trilemma' facing central banks
Reserve Bank of India governor Duvvuri Subbarao says policy contribution of central banks to sustainable sovereign debt policies must be clarified to maintain independence
Australian central bank appoints new assistant governor
Reserve Bank of Australia promotes Christopher Kent to the position of assistant governor (economic); takes over from Philip Lowe when he becomes deputy governor
Governor of the Central Bank of the Philippines talks Basel III
Amando Tetangco explains how Basel III has a “perverse” impact on countries with strong fiscal discipline and why the Sifi designation is less important than rigorous regulation