News
Risks lie ahead for China's internationalisation of renminbi, warn IMF, PBoC and HKEx officials
IMF Hong Kong representative, a former PBoC MPC member and HKEx chief warn of risks for China as the internationalisation of the renminbi starts to gather pace.
Turkey to set up bank in China
Turkey announces plans to open first bank in China in bid to strengthen ties with trade partner to the east
Sri Lanka opens restored central bank building
Central bank opens restored historic building; hopes to spark further regeneration in Colombo City
Trichet demands greater powers
European Central Bank president Jean-Claude Trichet says greater authority over national economic policies should be entrusted with euro area institutions
Yellen sees signs of exuberance in corporate debt markets
Comments highlight Fed’s methods for monitoring imbalances; rate hikes “last resort” to tackle financial excess
BoE outlines risk of higher intraday liquidity buffers
Bank of England study says new measures to enhance intraday liquidity risks jeopardising payment and settlement operations; recommends tools to mitigate banks’ incentive to delay settlement
IMF candidates battle to win support
Lagarde and Carstens visit Brazil; Merkel supports non-European candidate in the future
Estonia announces severance packages for rejected deputy governors
Ousted deputy governors given six-month wage severance packages; nomination process for next governor underway
Gold holdings 'useless': CentralBanking.com panellist
Gold holdings are “useless” and a “remnant from the past”, according to Michael Hart, head of FX strategy at Roubini Global Economics
Draghi faces large pay cut
Bank of Italy governor Mario Draghi’s pay would more than halve as next European Central Bank president
Reserve managers must reconsider strategies: CentralBanking.com panel
Central bank reserve managers must think about diversification to better prepare for future crises, panellists say
Ex-De La Rue chief decamps to rival
Oberthur Technologies snaps up former De La Rue chief executive James Hussey; shares in UK banknote producer slump as Oberthur ends interest in rival
Hong Kong strengthens security for ATMs
Automatic teller machines will use chip-based technology to help cut fraud; magnetic strips on cards will still work for foreign transactions
Fed research director to retire
David Stockton, director of the division of research and statistics, will leave the Federal Reserve Board at the end of September after 30 years
Talk of restructuring worsened turmoil: Bini Smaghi
ECB executive board member blames inability of securities market programme to curb investor fears on renewed talk of restructuring; tells Central Banking Greece should have sought help sooner
Argentina’s Blejer likens Greece bailout to ponzi scheme
Former Central Bank of Argentina president Mario Blejer compares Greece bailout to ponzi scheme; analyst expects restructuring of debt to be delayed until 2013
Lending and investment operations split in Kuwait
Kuwait asks investment firms to apply for separate licences for lending and investment operations; mirrors “ring-fencing” in the United Kingdom
Bini Smaghi: Greece not our responsibility if it defaults
Executive board member tells Central Banking Greece's fate is in its hands; reprofiling dismissed on grounds that it would have "all implications" of a default
Fitch downgrades Cyprus over threat of Greek contagion
Fitch downgrades Cyprus three notches to A- amid concerns over Cypriot banking sector’s exposure to Greece
Afghan central bank reacts to critical report
Report unleashes criticism of central bank’s handling of Kabul Bank loan scandal; governor reacts angrily
Central Bank of West African States names new head
Former Ivorian minister Kone Tiemoko Meyliet is the new governor of the West African Central Bank
Barnier defends Basel III legislation
European commissioner Michel Barnier speaks out against reports suggesting drafted legislation of Basel III carries loopholes for financial conglomerates
Zero-policy rates 'ill-serve' emerging markets: BIS's Caruana
Bank for International Settlements general manager Jaime Caruana says near-zero interest rates are a disservice to emerging market economy borrowers
Tanzania jails two over central bank corruption scandal
First court cases heard after 2008 corruption scandal; two businessmen jailed