News
Hawkish RBI in ‘surprise’ rate hike
Reserve Bank of India shocks markets with 50-basis point rate hike in a bid to curb rising inflationary pressures; further rate hikes expected this year
CIC adopts more bullish investment strategy
China Investment Corporation 2010 Annual Report shows major shift in sovereign wealth fund's investment strategy towards equities and alternative assets
South Korea monetary policy talks between government and central bank
Finance ministry official meets with central bank deputy governor to discuss macroeconomic policy; fears central bank may be losing independence
Markets turn to periphery in wake of Greek package
Yields on Spanish and Italian debt edge higher as markets remain uncertain over the wider impact of Greece's bailout on peripheral countries
HKMA misses design fault on new banknote
Hong Kong Monetary Authority forced to apologise for design flaw on new HK$100 banknote; cost of re-design and re-prints will be covered by banknote designer HSBC
Target 2 experiences three-hour outage
Target 2 payments system down for three hours on Monday morning; European Central Bank says source of interruption is as yet unexplained
Irish government sells share in Bank of Ireland
Ireland to sell €1.1 billion stake in Bank of Ireland; taxpayers to make 10.25% return from preference shares and 10% gain from contingent capital at bank
Fitch sees default ahead for Greece
Rating agency says Greece will default on its debt after European heads of state agree on €109 billion bailout plan for Greece with private sector involvement and more scope for EFSF assistance
Philippines introduces new financial reporting rules
Central Bank of Philippines revises guidelines on financial reporting to improve stability of financial institutions; new rules bring Philippines into line with international standards
UK opts out of ECB's T2S
Reports emerge suggesting the UK has opted out of the European Central Bank's Target2- Securities project
Row brews in Costa Rica over new banknote
Central bank forced to defend wording on new banknote; debate erupts on ‘state’ versus ‘republic’
Banks have most to lose from a US default: Standard & Poor's report
Standard and Poor’s says financial institutions reliant on short-term funding from the US Treasury would be hit hardest if the US were to default on its debt
Azerbaijan releases new strategic plan
Document sets out response to changing economic climate; highlights nine targets for supporting macroeconomic stability and growth in the country
Euro area leaders thrash out Greece deal
Leaked document shows euro area leaders agree to extend maturities on Greece loans through European Financial Stability Facility; compares second bailout for Greece to Marshall plan
Singapore announces large loss
Monetary Authority of Singapore reveals annual net loss of S$10.94 billion ($9 billion); strong local currency to blame
Fed aims for summer Sifi regulations
Bernanke says Fed expects to issue proposed rules on Sifi oversight this summer; also 'on schedule' to implement Basel III
New Zealand prepares to overhaul banknotes
Reserve Bank of New Zealand outlines plans to upgrade New Zealand’s banknotes
Sri Lanka ponders 'fit and proper' tests for non-bank lenders
Bill is pending that would introduce ‘fit and proper’ tests for senior executives of non-bank lenders
UK lawmakers call for rethink of banking carve-up
UK Treasury Select Committee requests Independent Commission on Banking to re-evaluate option to 'separate' retail and investment banking activities
Iranian public votes on currency reform
Preliminary results show name of currency will change and four zeros will be removed from value
Basel targets 28 banks with GSIB surcharge
Basel Committee says 28 banks will be required to hold additional loss-absorbency capital under proposed methodology for identifying global systemically important banks
European Commission unleashes region-wide capital requirement proposal
Commission sets out plans to 'change the behaviour of the 8,000 banks that operate in Europe'; rules limit member states’ right to legislate on capital requirements
Afghan ban on US officials: reports
Media reports claim Afghan president, Hamid Karzai, has banned US officials from the country’s central bank; conditions 'too hostile' for them to return
Euro area leaders face tough choices over Greece
Crucial euro area summit to address funding of second Greece bailout to be held; terms for private sector involvement on agenda