News
Chinese officials jailed over information leaks
Two government officials are given lengthy prison sentences; found to have leaked information on economic growth, retail sales and inflation figures
Uganda defends monetary policy
Executive director of research at the Bank of Uganda releases a statement explaining the central bank’s monetary policy; outlines what policy can do and what it cannot
BoE's Tucker: weak CCP recovery plans risk mayhem
Panellists at an EC conference in Brussels warn CCPs have made little progress on detailed survival plans - leaving the system exposed, according to Bank of England deputy governor
Developing country scoops currency award
Ugandan shilling wins 2011 Best Series Award from International Association of Currency Affairs
Italy’s Visco wins governor nomination in surprise twist
Italian prime minister takes unexpected step by naming Bank of Italy deputy director-general Ignazio Visco as governor ahead of three frontrunners
Norges Bank proposes amendments to collateral framework
Norges Bank announces plans to increase haircuts on collateral held at central bank from 4% to 9% to reduce exposure to counterparty risk
Canada to consider new policy goals for central bank
House of Commons will hold at least one meeting to discuss broadening monetary policy targets for the central bank; 2% inflation level has been the primary goal for 20 years
Turner warns of capital requirements dilemma
FSA chair Adair Turner insists on the consideration of counter-cyclical macro-prudential policies in the run-up to regulatory structure overhaul
FSB sets out framework for monitoring implementation of financial reforms
Financial Stability Board announces co-ordination framework for implementation monitoring of G20/FSB financial reforms; priority areas set for extra scrutiny
US watchdog spots conflict of interest with Fed director roles
US Government Accountability Office identifies three examples where senior bank executives may have benefited from their positions on regional Federal Reserve boards
Bini Smaghi in line for top Italian central bank job
European Central Bank executive board member Lorenzo Bini Smaghi is expected to be selected as the next governor of the Bank of Italy
Trichet calls for EU executive branch in farewell address
Outgoing president uses farewell speech to express personal opinion on the need for an EU executive branch; body would have powers in three key areas
Brazil offers scant explanation for rate cut
Monetary Policy Committee’s brief statement cuts benchmark interest rate in Brazil; policymakers say “more restrictive global environment” is reason behind decision
China banking regulator talks of reform ‘determination’
Liu Mingkang says rating agencies and analysts “underestimate” China’s determined reforms to the banking sector; warns of shadow banking clamp down
Lords take Vickers to task over robustness of plans
Vickers faces fierce questioning on Independent Commission on Banking’s final report and recommendations; incentive for banks to cheat the system discussed
State Bank of Pakistan’s acting head stays on as governor
State Bank of Pakistan acting governor Yaseen Anwar becomes third governor in less than a year and a half to head the central bank, after taking role on permanent basis
Bernanke muses on future of inflation targeting
Fed chairman sees place for inflation targeting in monetary policy frameworks of the future; hints at further transparency in decision-making
Japan and South Korea reinforce yen-won swap agreement
Bank of Japan and Bank of Korea increase size of bilateral yen-won swap arrangement tenfold; Japanese government also expands swap agreement with South Korea
FDIC appoints new director of division of finance
Craig Jarvill has temporary role as director of the division of finance made permanent
Bank’s King adamant inflation will fall
Bank of England governor Mervyn King maintains inflation will drop towards target after Office for National Statistics reports largest rise in annual CPI since September 2008
Basel Committee assesses progress towards new capital rules
Basel Committee on Banking Supervision monitors progress of member countries in adopting proposals for higher bank capital buffers
RMB’s rise to reserve currency status accelerates
Renminbi progresses towards becoming a reserve currency in its own right; a number of central banks have begun to diversify into the Chinese currency
Belarus given guidance to restore 'stability and prosperity'
International Monetary Fund tells Belarus to reduce inflation and raise interest rates; central bank sells off surplus office items
India adds two more members to board of directors
YH Malegam and MV Rajeev Gowda appointed as directors; announcement follows the seven new members added last month