News
Papandreou appeals for German support
Greek prime minister George Papandreou travels to Berlin to seek solution to sovereign debt crisis; due to meet German chancellor Angela Merkel
FSA asks UK government to be very clear in new legislation
Financial Services Authority warns government it risks creating “real confusion” over duties of new Financial Conduct Authority
Weber attacks international financial safety net concept
Former Bundesbank president Axel Weber raises objections to IMF as permanent liquidity swap provider; says measures are "undesirable" and "unrealistic"
Finland’s Liikanen discusses weaknesses in Europe
Erkki Liikanen wants progress in fiscal correction, bank capitalisation and economic governance; reminds Greece of its responsibility for itself
Indian government overhauls RBI central board of directors
Seven new directors replace retirees from Reserve Bank of India’s central board of directors; all will serve four-year terms
Carney to banks: stop blaming each other
Mark Carney, Bank of Canada governor tells banks to stop accusing others of bad behaviour; discusses Institute of International Finance's concerns about financial reform agenda
Taiwan again defends currency policies
Central Bank of the Republic of China (Taiwan) releases statement defending policies; second time this month public defence is issued
SEC's Schapiro under fire in Madoff conflict case
SEC's former general counsel David Becker inherited $2 million account with Ponzi fraudster
Gonzalez-Paramo urges speedy action in Europe
ECB executive board member pushes for more haste from European leaders to stem the crisis; says ECB has not decided when to end bond-buying programme
Pressure on the IMF to make surveillance a priority
Representatives from several global constituents call on IMF to take a central role in surveillance of countries as international reforms take hold
G-20 commits to ‘strong and co-ordinated’ response to challenges
G-20 answers calls for united action; countries commit to implementing credible fiscal consolidation plans, and ensuring strong, sustainable and balanced growth
Bank of Korea holds economic review meeting
Governor Kim Choongsoo meets with heads of institutions and scholars; domestic financial markets ‘overreacting’ to changes in external conditions
Video: BBA gives first, exclusive views on the ICB report
In an exclusive interview, the BBA discusses whether the ICB should have looked more closely at other separation models for its final report on financial stability in the UK
Developing country representatives lament poor banking oversight
Intergovernmental Group Of Twenty-Four On International Monetary Affairs And Development says IMF surveillance of financial institutions is scuppered by weak implementation framework and practices
IMF launches mobile phone application
International Monetary Fund releases mobile application; allows Apple iPad users access to statistical data
Kenneth Rogoff receives financial economics prize
Harvard University professor Kenneth Rogoff awarded 2011 Deutsche Bank Prize in Financial Economics
Long-term yields plunge as Fed initiates Operation Twist
Federal Open Market Committee to buy $400 billion in long-term government bonds in exchange for shorter-dated paper as yields on 10- and 30-year Treasury bills decline
IMF says time is ‘running out’ to stabilise world economy
Global Financial Stability Report makes urgent plea for action to tackle vulnerabilities that threaten the global financial system; reveals €200 billion ‘impact’ on EU banks from sovereign debt crisis
Worldwide warnings of escalating risk
International Monetary Fund and European Systemic Risk Board caution authorities over worldwide risk dangers; urge swift and decisive action
Aussie dollar gains result in $4.78 billion loss for central bank
Reserve Bank of Australia records massive loss during 12 months to June due to decline in valuation of foreign asset reserves
Canada banking regulator hires central bank official
Mark Zelmer will leave central bank; becomes assistant superintendent of the regulation sector at the Office of the Superintendent of Financial Institutions
Greece talks with Troika back on track
Negotiations over Greece‘s sixth tranche of bailout funds are set to resume as Troika leaders agree to return to Athens
Bernstein sounds warning to new Danish government
Governor Bernstein says there is no need for fiscal stimulus; urging government to pull back from election process stimulus promises
Asset Purchase Facility focus of BoE QE discussions
Bank of England minutes reveal Monetary Policy Committee considered changing maturity profile of asset purchase facility