News
ECB policy would shatter big CCPs, critics warn
Plans to have CCPs based in the jurisdiction of the currency they clear would pull apart multi-currency services, experts warn, after UK Treasury challenges ECB
Former deputy chairman to stand trial over Securency scandal
Central London court commits Bill Lowther to stand trial; hearing scheduled for early December
IMF World Economic Outlook piles on the gloom
Latest World Economic Outlook lowers global growth estimates; warns Europe and US policy-makers not to let problems get out of hand
Italy unfazed by S&P downgrade
Standard and Poor's downgrades Italy's credit rating by one notch to A; Italian government slams move, reaffirms confidence in fiscal reforms
Video: BoJ’s Hiromi Yamaoka on the failure of global rulemakers to learn from Japan’s ‘lost decade’
Hiromi Yamaoka speaks about new recovery and resolution plans, the strength of the Japanese banking system and why he’s not worried about spiralling government debt
Liquidity provision focus for new international reform plan
New Centre for Economic Policy Research report puts forward reform plan; focuses on liquidity provision and calls for greater IMF powers
G-20 reforms complex but necessary: Canada’s Lane
Bank of Canada deputy governor discusses merits and disadvantages of creating new Candian central counterparty in light of G-20 reforms to financial infrastructure
Sri Lanka appoints two deputy governors
Central Bank of Sri Lanka promotes three assistant governors to deputy governor roles; current deputy governors retiring
BIS calls for greater vigilance over sovereign risks
Bank for International Settlements Quarterly Review warns weaker global growth outlook risks fuelling sovereign debt crisis
IMF concern over ‘critical juncture’ of programme in Greece
IMF rejects criticism of economic programme to date; highlights areas that need attention to ensure recovery
Mauritius to investigate interest rate ranking
Mauritius plans to challenge World Economic Forum report on interest rate spread ranking
Fund directors split on excess gold profits
IMF’s executive board divided over use of windfall profit from gold sales; plans to revisit potential uses in late 2011
Governor of Central Bank of Jordan resigns
Faris Abdel Hamid Sharaf resigns; deputy governor Mohammad Said Shahin gets promoted
Greece tranche decision delayed till October: Juncker
Eurogroup chairman Jean-Claude Juncker says decision to release sixth bailout tranche to Greece will be delayed until October; sovereign may default sooner than expected, says analyst
UK Lords debate Independent Commission on Banking plans
Lord Myners deeply critical of ICB's plans; complains chairman John Vickers failed to address important issues
Bank veterans identify challenges to macroprudential policy
Bank of England paper co-authored by Andrew Large and Alastair Clark highlights difficulties in developing macroprudential policy toolkit; identifies conflicts with monetary and regulatory policy
Kansas Fed names Hoenig successor
Esther George to take over as president and chief executive of the Federal Reserve Bank of Kansas City; Thomas Hoenig retires October 1
Former deputy chairman charged over Securency scandal
Bill Lowther to appear in court next week on charges of bribery; latest development in ongoing Securency corruption scandal
Euro climbs as major central banks boost dollar liquidity
Bank of England, Bank of Japan, European Central Bank and Swiss National Bank to offer three-month loans to market; euro moves higher against the dollar but nearly breaks Swiss franc floor
Central banks open new chapter as large net gold buyers
Thomson Reuters GFMS Gold Survey 2011 shows net official purchases of gold rose to more than 200 tonnes during the first half of the year; forecasts gold to reach $2,000 by year-end
RBA loses power to set wages
Reserve Bank of Australia governor Glenn Stevens's high salary in jeopardy; wages will be set by Remuneration Tribunal
Libya wants assets released sooner
Return of unfrozen Libyan assets "slow"; draft UN resolution circulated to release more
UK prepares to do battle with ECB
British Treasury unhappy with European Central Bank's proposed clearing house location restriction; will take argument to court if necessary
European Commission to consider euro bond options
European Commissioner José Manuel Barroso says options for common eurozone bond will be reviewed; Bundesbank's Jens Weidmann says bond would lead to "socialisation" of debt