News
IMF urges further Spanish reforms
IMF mission to Spain says authorities have implemented strong fiscal and structural reforms to aid recovery, but plans need to be strengthened
Canada unveils polymer banknotes
Canada unveils new polymer banknotes; changes to combat counterfeiting
China ups gold coin production
People’s Bank of China more than doubles issuance of gold panda coins for 2011; demand outstripping minting
Panellists' ‘shock’ at lack of investigation of BoE failings
Panellists giving evidence to the Treasury Committee expressed shock at absence of high-level investigation into the Bank of England’s actions in the financial crisis
IMF warns European contagion is resurfacing
IMF Global Financial Stability Report highlights growing concern over debt sustainability of European periphery countries; advanced economy downward growth revision signals two-speed recovery
Carstens and Lagarde in Washington for interviews
Interviews happening this week; decision still on course for June 30
West Africa central bank to audit Ivory Coast offices: reports
Central Bank of West African States wants audit of Ivory Coast offices
FPC member gets call to Bank’s governing body
External Financial Policy Committee member Michael Cohrs appointed to Court of the Bank of England
Euro finance ministers delay Greece deal
Eurogroup says second tranche for Greece will be delayed until at least early July as European finance ministers flesh out new deal for sovereign
Reserve Bank of India deputy governor retires
Shyamala Gopinath retires as deputy governor of the Reserve Bank of India; two new executive directors announced
ESM will wrap up restructuring dispute: IMF
IMF says completion of European Stability Mechanism will end unproductive debate on restructuring debt of peripheral countries
Trichet says euro is ‘stable and credible’
Trichet offers reassurance on credibility of the euro; says global imbalances are a concern, but euro area does not contribute to them
Australian regulators suggest clearing exemption for FX
Reserve Bank of Australia discussion paper commits to harmonising rules with US and Europe
Angola stops foreign currency loan issuance
National Bank of Angola bans commercial banks from issuing loans in foreign currency
IIF’s Dallara criticises Basel Committee for shortcomings on governance reform
Institute of International Finance managing director Charles Dallara “deeply troubled” by the Basel Committee’s lack of focus on improving banks’ risk culture
IMF managing director saga continues
IMF rebukes New York Times for article on Fischer; Strauss-Kahn’s immunity pleas revealed; candidates continue battle for international support
Vienna Initiative agreement sets in motion Greece deal
German Chancellor Angela Merkel takes softer approach to Greece; says Vienna Initiative could form part of bailout deal
Berlusconi asks Bini Smaghi to step aside
Italian prime minister acts to ensure French support for Mario Draghi as next head of the European Central Bank
Tanzania deputy governor leaves
Enos Bukuku takes up role with East African Community; Natu el-Maamry Mwamba reportedly replaces him
Switzerland votes for tougher capital rules on big banks
Swiss upper chamber backs bill to raise capital requirements of largest banks to 19%; Swiss National Bank vice-chairman Thomas Jordan says potential losses must be fully absorbed
Wellink wants European Financial Stability Facility funds doubled
ECB governing council member wants fund boosted to €1.5 trillion
King defends his additional powers
UK government publishes draft legislation handing significant powers to the governor of the Bank of England; King reassures critics of the shift
Ireland proposes haircuts for Anglo Irish bondholders
Irish finance minister Michael Noonan says Anglo Irish Bank senior bondholders should receive haircuts; pits the Irish government against the European Central Bank
Greece debate grips European markets
Dutch finance minister Jan Kees de Jaager says private credit holders of Greek debt should bare 30% of losses on paper; Fitch says any exchange of distressed debt would constitute a default