News
Belarus new chief hails from biggest state bank
Nadezhda Yermakova leaves Belarusbank to take over as head of the central bank
Draghi backs ‘consistent’ implementation of Basel III
In his foreword to a new book, Mario Draghi says consistent implementation of Basel III rules must be achieved
Lagarde sets out ‘four-C’ plan to keep IMF relevant
Christine Lagarde says IMF must focus on clients and connections, be comprehensive and credible; reform of voting system is a top priority
Greek debt guarantees were vital for monetary policy: Estonia’s Lipstok
Bank of Estonia chairman Andres Lipstok says pledge by eurozone leaders to provide European Central Bank with guarantees for Greek collateral was very important for its price stability mandate
South Sudan currency exchange begins in earnest: images
Senior officials in South Sudan exchange Sudan pound for new South Sudan currency; central bank sets deadline for public to exchange old banknotes for new ones
Afghanistan denies oversight failures
Afghanistan’s government defends itself against claims it failed to co-operate with auditors to safeguard US funds; says relationship with US watchdog is “strained”
Robert Mundell: How to save the euro
Nobel laureate Robert Mundell says eurozone can be saved with three-pronged policy solution, ‘for the short run, intermediate run and long run’
Political impasse raises US default concerns
As the August 2 deadline to raise the US debt ceiling looms, Blair Baker looks at what the prospect of a default in the US means for the world and whether the Fed can play a pivotal role in Washington
Hawkish RBI in ‘surprise’ rate hike
Reserve Bank of India shocks markets with 50-basis point rate hike in a bid to curb rising inflationary pressures; further rate hikes expected this year
CIC adopts more bullish investment strategy
China Investment Corporation 2010 Annual Report shows major shift in sovereign wealth fund's investment strategy towards equities and alternative assets
South Korea monetary policy talks between government and central bank
Finance ministry official meets with central bank deputy governor to discuss macroeconomic policy; fears central bank may be losing independence
Markets turn to periphery in wake of Greek package
Yields on Spanish and Italian debt edge higher as markets remain uncertain over the wider impact of Greece's bailout on peripheral countries
HKMA misses design fault on new banknote
Hong Kong Monetary Authority forced to apologise for design flaw on new HK$100 banknote; cost of re-design and re-prints will be covered by banknote designer HSBC
Target 2 experiences three-hour outage
Target 2 payments system down for three hours on Monday morning; European Central Bank says source of interruption is as yet unexplained
Irish government sells share in Bank of Ireland
Ireland to sell €1.1 billion stake in Bank of Ireland; taxpayers to make 10.25% return from preference shares and 10% gain from contingent capital at bank
Fitch sees default ahead for Greece
Rating agency says Greece will default on its debt after European heads of state agree on €109 billion bailout plan for Greece with private sector involvement and more scope for EFSF assistance
Philippines introduces new financial reporting rules
Central Bank of Philippines revises guidelines on financial reporting to improve stability of financial institutions; new rules bring Philippines into line with international standards
UK opts out of ECB's T2S
Reports emerge suggesting the UK has opted out of the European Central Bank's Target2- Securities project
Row brews in Costa Rica over new banknote
Central bank forced to defend wording on new banknote; debate erupts on ‘state’ versus ‘republic’
Banks have most to lose from a US default: Standard & Poor's report
Standard and Poor’s says financial institutions reliant on short-term funding from the US Treasury would be hit hardest if the US were to default on its debt
Azerbaijan releases new strategic plan
Document sets out response to changing economic climate; highlights nine targets for supporting macroeconomic stability and growth in the country
Euro area leaders thrash out Greece deal
Leaked document shows euro area leaders agree to extend maturities on Greece loans through European Financial Stability Facility; compares second bailout for Greece to Marshall plan
Singapore announces large loss
Monetary Authority of Singapore reveals annual net loss of S$10.94 billion ($9 billion); strong local currency to blame
Fed aims for summer Sifi regulations
Bernanke says Fed expects to issue proposed rules on Sifi oversight this summer; also 'on schedule' to implement Basel III