News
SEC risk chief to step down
First head of regulator's risk division will return to academia in January
Honohan expects IMF loan for Ireland
Central Bank of Ireland governor Patrick Honohan says his expectation is that IMF loan will be made available, likely to come to “tens of billions”
Posen: we can’t call bubbles
Bank of England external rate-setter Adam Posen cites empirical evidence showing difficulty in distinguishing asset-price booms from busts
Large pension funds a threat to financial stability – European Commission
European Commission says pension funds should also be classed as “too big to fail”
Hungary voices concerns over banking climate
National Bank of Hungary warns new government tax and appreciation of the Swiss franc will severely impair bank lending and its contribution to economic growth
Sarb makes fresh bid to revive output
South Africa Reserve Bank cuts rates by 50 basis points in bid to boost output; analyst says policy subscribed will have little impact on supply side
Central bank documents stolen from Carney’s car
Bank of Canada governor Mark Carney robbed of bag containing internal central bank papers after car was broken into, central bank says bag was recovered but not known if all documents were retrieved
Fed issues guidelines on Volcker rule enforcement
Federal Reserve guidelines cover aspect of rule that extends compliance period to firms regulated by the central bank
Bank’s MPC split three ways
Bank of England Monetary Policy Committee minutes show rate-setters remain divided over future outlook of economy
Asia Risk Congress 2010: G-20 poised to tackle shadow banking and commodity derivatives
The G-20 is not going to sit still after its historic endorsement of Basel III. New targets include the shadow banking system and commodity derivatives, according to a senior Japanese government official.
Bolivia appoints interim governor
Former regulator named caretaker head of Central Bank of Bolivia
BIS survey shows OTC market levelling off
Notional volume and credit exposures are growing more slowly, latest market data shows
King’s letter to chancellor highlights inflation uncertainty
Inflation of 3.2% in October prompts Bank of England governor Mervyn King to pen another letter to the chancellor; move highlights high degree of uncertainty
Former CNB governor fails in bid to become mayor
Former Czech National Bank governor Zdenek Tůma loses out in race to become Prague’s next mayor
Malaysia names new deputy governor
Puan Nor Shamsiah Mohd Yunus replaces Dato' Zamani Abdul Ghani
Make the right decision: Spain’s Ordóñez to Dublin
Governor of the Bank of Spain suggests Irish officials ask for help as fears grow that Dublin’s resistance to a bailout will trigger contagion
Academics attack QE2
Twenty-three academics call on Federal Open Market Committee to “reconsider and discontinue” QE2; signatory argues problems are as much on supply side as demand side
Lloyds CEO to step down from Bank’s court of directors
New Lloyds Banking Group chief executive António Horta-Osório to leave to avoid conflicts of interest
Politics won't get in the way of Sifi plans: FSB's Draghi
Financial Stability Board chairman Mario Draghi says resolution regimes for systemically important banks operating across borders need not be bogged down in political tensions
IMF to pitch in on imbalances, but no clear agreement
G20 leaders call for Fund assistance in drafting “indicative guidelines” to frame global imbalances debate but stop short of definitive statement on currency dispute
G20 calls for bigger, better FSB to carry reform agenda
G20 leaders at Seoul summit identify areas in which further progress in needed, calling on Financial Stability Board to take the lead and drive reform; ask FSB to report on what extra resources it needs
FSB plans on Sifis win G20 approval
G20 leaders welcome reform packages to date, including fresh FSB proposal to tackle moral hazard posed by systemically important banks
Fed’s Tarullo defends US record on Basel II
Federal Reserve governor Daniel Tarullo dismisses criticism over US implementation of minimum capital requirements under Basel II; says Basel III will only be effective if applied rigorously by all countries
Leaders applaud IMF reforms, boosted safety net
Fund's boosted flexible credit line, new precautionary credit line praised by G20 leaders of the IMF