News
Dexia bailout spells trouble for Belgium and France, say analysts
Nationalisation of banking group Dexia threatens downgrades to sovereign credit rating of Belgian and French governments
Israel completes appointments to new rate-setting body
Israeli government confirms appointment of three external members to Bank of Israel’s new Monetary Committee; rate-setting body due to vote in October
Central banks shy away from euro reserves
New data from the IMF’s currency reserves database suggests reserves accumulation has slowed during 2011 and the appetite to hold euro reserves has also waned, particularly in emerging markets
IMF modelling work on liquidity risk points to capital hike, says Jobst
Recent analysis by the International Monetary Fund indicates that banks in the US need to raise capital to cover systemic liquidity risk threats
EBA stress test: €3.4 billion error in BPCE's derivatives exposure to France
Owner of Natixis overstated derivatives exposure to France by €3.4 billion after mixing up notional and mark-to-market numbers
European regulator holds crisis talks
Pressure mounts on European banks to bolster their capital buffers as European Banking Authority holds unscheduled talks in London
Japan extends emergency relief measures
Emergency loan facility and relaxation of collateral eligibility standards extended; sign of Japan’s continued economic struggle
Oil reserves eclipse Norway SWF assets
Norway budget confirms sovereign wealth fund assets still smaller than oil left in seabed
Sri Lanka releases customer protection charter for banks
Central Bank of Sri Lanka issues direction on customer protection in licensed banks; covers banks' commitments to customers and ways customers must also behave to ensure safe banking practices
Riksbank narrows banknote design contest
Swedish central bank selects eight finalists out of 46 entrants to go on to final stage of krona banknote design competition; winner to be announced next April
ECB celebrates Italian culture
European central bank announces 2011 cultural days will focus on Italian culture; events include classical and jazz music concerts, film screenings, literary and art events
BoE injects £75 billion to save stalling economy
Bank of England Monetary Policy Committee votes for further round of quantitative easing; increases size of asset purchase programme to £275 billion
Trichet bows out with new bond purchase scheme
Jean-Claude Trichet unveils a new covered bond purchase scheme; ECB governing council also agree to hold interest rates and support Jörg Asmussen for governing council post
EU considers deeper sanctions against Syrian central bank
European Union considers further financial sanctions against Syria amid continued repression of Syrian people; EU foreign affairs committee to discuss on Monday
Latin America reverses positions with advanced economies: IMF’s Eyzaguirre
Director of the IMF’s Western Hemisphere department says advanced economies have 'pneumonia', while Latin America only has 'a cold'; situation reversed from in the past
Central banker takes over as Labuan Financial Services Authority director
Encik Ahmad Hizzad bin Baharuddin takes over as head of the Labuan FSA; leaves role as director of Bank Negara Malaysia's Islamic banking and takaful department
EU plans coordinated action to recapitalise banks
European Commissioner Olli Rehn says capital positions of European banks must be reinforced; calls for comprehensive strategy to restore confidence in Europe
US watchdog highlights discrepancies in Fed emergency programmes
US Government Accountability Office says Fed on occasions failed to properly document processes and decisions during crisis; says opportunities exist to strengthen risk management practices
ECB’s Constâncio stresses commitment to T2S settlement platform
First ever Europe-wide platform for settlement of bonds and equities trades has ECB’s full support; will play a crucial role in future of the single market, says Vítor Constâncio
SEC report reveals failings at top three rating agencies
A report released by the US SEC reveals S&P, Moody's and Fitch all still have significant failings in their operations
Peruvian president reappoints governor and chooses new board members
Julio Velarde retains governorship of the Central Bank of Peru; three university professors designated as board members
EU lawmakers agree on Stability and Growth Pact overhaul
Enhanced Stability and Growth Pact gets approval of European Council and Parliament; European finance ministers clear Asmussen for ECB executive board
Poland moves to halt zloty decline
National Bank of Poland intervenes in foreign exchange markets for third consecutive week to curb depreciation of zloty; Central Bank of Brazil also acts to smooth flow of real against dollar
Bernanke asks for help to stimulate the economy
Bernanke reiterates Fed is ready to act; calls on all policymakers to work towards lifting the economy