News
Philly Fed’s Plosser: weaker growth levels likely, but no cause for QE3
President of Philadelphia Fed sees monetary policy as limited in reviving a US economy hit by a supply shock; says personal hurdle for QE3 “very high”
IMF race: Colombia backs Carstens, Lagarde ‘confident’
IMF leadership campaigns continue; Mexico central bank chief receives Colombia backing, Christine Lagarde is 'confident' following meetings with China
BoE, ECB hold their fire
Bank of England and European Central Bank leave rates unchanged; Trichet speech hints at impending hike
ECB backs Draghi to head central bank
European Central Bank governing council supports nomination of Bank of Italy governor Mario Draghi to head eurozone central bank
Germany’s Schäuble calls for bond swap on Greek debt
Trichet has some sympathy in Vienna Initiative-style arrangement for Greece; German finance minister calls on ECB to go one step further with swap deal
Commitment to bailout package 'imperative': Bank of Portugal
Bank of Portugal May Financial Stability Report says compliance to €78 billion financial rescue package will prove less costly to society in long-term
Thieves seize 500,000 pesos from Argentina coffers: reports
Central Bank of Argentina robbed of 500,000 pesos' worth of withdrawn bills, say reports; central bank declines to comment
Central bank liquidity would help CCPs in distressed situations: BIS paper
BIS weighs in on CCP central bank liquidity access debate
Philippines launches next leg of public education programme
Central bank wants the public to be able to make “well-informed economic and financial decisions”; also opens new building in Dumaguete City
Finland to close two cash distribution offices
Bank of Finland says it will shut its Tampere and Kuopio offices as cash distribution services are outsourced to private sector
Macedonia replaces governor
Dimitar Bogov, formerly vice-governor, takes over as governor of the National Bank of the Republic of Macedonia
Sweden’s Öberg calls for Riksbank to merge with regulator
Riksbank first deputy governor Svante Öberg says merging central bank with Finansinspektionen will aid task of safeguarding financial system
Bafin chairman pans European Banking Authority stress tests
European Union’s bank stress standards lack “legitimacy”, according to top German regulator
UK lawmakers highlight lack of market expertise on FPC
Treasury Committee labels Alistair Clark an “insider”; calls on Michael Cohrs to make more public pronouncements
Basel III liquid asset definitions loosened in CRD IV draft
Draft legislation seen by Risk contains less prescriptive language on what counts as an eligible liquid asset under the liquidity coverage ratio
Next year's IMF/ World Bank meet no longer in Cairo
IMF and World Bank Group to hold 2012 annual meetings in Japan; plans to meet in Egypt abandoned after unrest in the country
BIS data highlights US banks’ exposure to Greece
Bank for International Settlements data reveals United States’ heightened “potential exposure” to Greek default
Strauss-Kahn follows through with not-guilty plea
Ex-head of the IMF sticks to earlier rebuttal of charges and enters not-guilty plea; trial could take months
FDIC board creates Advisory Committee on Systemic Resolutions
New committee will advise on resolution of banks once categorised as "too big to fail"; first meeting later this month
Diamond abandons Fed ambitions
Peter Diamond pulls out of race to become the next Federal Reserve governor; says “shortcomings” in confirmation process and “fundamental misunderstandings” in conducting monetary policy to blame
ECB opens Brussels office
European Central Bank opens small Brussels office; staffed by only two people
Greece agrees new package
Authorities strike deal over Greece; extensive privatisation programme to commence shortly
US banks at risk of downgrade following Dodd-Frank
Credit rating agency Moody’s launches review of eight banks’ ratings after legislation makes uncertain implicit promise of government support in event of failure
Industry models not sufficiently developed to calculate CVA charge, says Basel Committee
Basel Committee sticks to its decision not to allow banks to use their own models to calculate the CVA capital charge under Basel III