News
Central banks establish corporation for more liquid Islamic money markets
Malaysia chosen as base for International Islamic Liquidity Management Corporation
DMOs to Basel Committee: leave our bonds out of your buffers
New rules mean banks will have to load-up on government debt, but one apparent beneficiary - debt management offices - are against the idea
Bundesbank ups compatibility of clearing system
Bundesbank strikes deal with payments processor Equens on more interoperable clearing systems to improve market efficiency
Central banks should regulate financial system: CentralBanking.com poll
CentralBanking.com poll shows more than 58% of readers think central banks should regulate banks in addition to insurance firms, hedge funds, and brokers
FSoc to debate measures to toughen money market funds
US Presidential Working Group including Federal Reserve chairman Ben Bernanke and Treasury secretary Timothy Geithner proposes eight steps to prevent runs on money market funds
ECB calls for law enforcing Sepa migration
European Central Bank says legislative action on migration of Sepa scheme needed as self-imposed deadline will not work
Øystein Olsen named next Norges Bank chief
Statistics Norway managing director Øystein Olsen will become governor in January, as Svein Gjedrem’s final term draws to a close; move expected, analysts say
Basel Committee stalls on key element of counter-cyclical plans
Market participants cast doubt on the collective strength of multiple measures to mitigate pro-cyclicality in Basel III
Britain unveils sweeping, cross-border bank levy
UK government publishes draft bank tax law which will affect domestic banks operating overseas and foreign bank operations in Britain; proposal highlights international disunity
Central banks back move for more liquid Islamic money markets
International Islamic Liquidity Management Corporation aims to enhance liquidity management by firms in the market for Islamic financial services by issuing Shari'ah-compliant financial instruments
Central Bank of Azerbaijan opens primary school
Azerbaijani central bank pushes corporate-social responsibility agenda with help of newly-established communications department
Malaysia and Mauritius strengthen cooperation
Bank Negara Malaysia and the Bank of Mauritius sign a memorandum of understanding to strengthen collaboration in Islamic finance
Trichet opposes EU agreement on fiscal sanctions
European Central Bank president Jean-Claude Trichet refuses to give his backing to sanctions for countries that break rules of stability and growth pact; sees sanctions as too soft
ECB calls for more data to prevent crises
European Central Bank draws attention to information gaps, says broader and more flexible data will aid macroprudential supervision
Philly Fed promotes Prichard to first vice-president
Philadelphia Fed appoints Blake Prichard to succeed William Stone Jr as first vice president and chief operating officer at central bank
EU to rely on colleges for cross-border resolution
Plans place ‘resolution colleges’ at the fore of attempts to avoid diplomatic wrangling from a cross-border bank's collapse; Barnier keen on harmonisation of insolvency laws but stresses difficulties
Colombia revisits currency redenomination debate
Central Bank of Colombia governor José Darío Uribe says there are benefits to be had from redenominating peso, despite costs
Half of RBA’s external rate-setters miss meeting
Three of the Reserve Bank of Australia’s six external board members absent at October meeting, as central banks deliberates balance of economic pressures
King demands collaboration
Bank of England governor Mervyn King says countries must reach collective solution over global imbalances or risk crippling the global economy through protectionist policies
ADB launches landmark renminbi bond in Hong Kong
Asian Development Bank launches ground-breaking international renminbi bond in Hong Kong; Hong Kong Monetary Authority’s Peter Pang hails likely effects on renminbi trade, settlement
More discord over Basel III countercyclical buffers
Basel Committee’s Peter Praet acknowledges disagreement; Charles Goodhart warns lack of consensus will stop central banks acting to stem financial imbalances
Norway’s global sovereign wealth fund tops Nkr3 trillion
Government Pension Fund Global market value reaches Nkr3 trillion milestone following a weakening krone
ICFA talks Target2- Securities with the ECB
Jean-Michel Godeffroy, chairman of the T2S programme board at the European Central Bank, talks through the future of the settlement platform with Melanie White of ICFA Magazine
Basel Committee sketches regulatory action plan
Basel Committee on Banking Supervision identifies eight issues it is working on as Basel III reform package heads into political sphere