News
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
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