News
Dublin to split troubled lender
Anglo Irish to be split after more than a year-and-a-half of state ownership
Basel Committee has agreed on capital ratio: Buba’s Zeitler
Senior officials set to meet on Sunday to discuss the proposal
International bodies fulfil G20 recommendation on information gaps
European Central Bank, Bank for International Settlements and IMF publish second part of Securities Statistics Handbook to address information gaps
Hungary told to lift cap on central bankers’ pay
European Commission says Hungary could face legal action if it does not lift salary cap on central bank employees
Pakistan set to pick bureaucrat as next governor
Islamabad looks likely to break with trend and pick former government official Shahid Kardar as next State Bank of Pakistan governor, reports say
EXCLUSIVE: Don’t rely on near-zero rates, says Rajan
Former IMF chief economist Raghuram Rajan warns the Federal Reserve has no quick fixes to solve United States’ economic ills but says Bernanke right man for the job
De La Rue says staff falsified banknote tests
Banknote printer says investigation into printing irregularities has revealed staff at Hampshire plant deliberately falsified paper specification tests
Margaret Cole joins UK FSA Board
Financial Services Authority promotes Margaret Cole to board as managing director of enforcement and financial crime
Banks upped exposure to troubled eurozone states in first quarter: BIS
Bank for International Settlements says first quarter figures show exposure to Portugal, Greece and Spain grew, in spite of default worries
Afghanistan’s Fitrat says Kabul Bank no longer in danger: reports
Bank of Afghanistan governor Abdul Qadeer Fitrat claims beleaguered Kabul Bank is out of danger, despite continued run on bank, reports say
Adia appoints new chief economist
Chief economist Ted Chu joins Abu Dhabi’s sovereign wealth fund from General Motors
ECB documents success of eurozone retail payment systems
European Central Bank releases comprehensive overview of the payments systems, including underlying concepts and the role of the central bank; book notes success of Step1 commercial payment system
ECB’s González-Páramo highlights flaws in collateral framework
European Central Bank executive board member José Manuel González-Páramo acknowledges risks in central bank’s willingness to accept broad range of collateral
Settlement system gets go-ahead from RBNZ
Reserve Bank of New Zealand and Securities Commission give “statutory backing” country’s third settlement system; system a joint venture between central bank and stock exchange operator
Banks need more time to reform pay standards: IIF
Institute of International Finance says lenders need more than year to bring pay standards in line with Financial Stability Board’s principles; regulators must speed up coordination efforts
Trichet to be first head of European Systemic Risk Board
European Central Bank president Jean-Claude Trichet will chair continent’s new systemic risk board until the end of his term; proposal reflects compromise between parliament and national governments
MEPs win out on powers for new European supervisory bodies
Pan-European authorities will have the power to impose emergency measures and intervene with financial institutions, after parliamentarians gained ground in compromise agreement
Fuld and Fed’s Baxter at odds over Lehman failure
Ex-Lehman Brothers’ chief Dick Fuld blames Federal Reserve for failure of investment bank; New York Fed general counsel Thomas Baxter says central bank could not have provided liquidity lifeline
Bernanke: Fed won’t rule out leaning against wind
Regulation should be “first line of defence” against bubbles, but FOMC is monitoring financial imbalances
Buba calls for Sarrazin to be sacked over racist comments
Bundesbank executive board votes unanimously in favour of removing Thilo Sarrazin; central bank takes firm line after Sarrazin’s anti-Semitic remarks spark outrage
Fed cannot bear full burden of job creation: Fisher, Plosser
Regional Federal Reserve presidents Richard Fisher and Charles Plosser say loosening monetary stance further will not cure unemployment ills; monetary policy no panacea for macroeconomic problems
Indonesia moots new rule to boost bank lending
Bank Indonesia to propose range of loan-to-deposit ratios to encourage lending; banks prefer to park deposits in money market due to perceived default risk
Rajan, Krugman clash over Fed policy
Ex-IMF chief economist Raghuram Rajan and Nobel laureate Paul Krugman lock horns over Federal Reserve’s loose monetary stance
FX market going global: BIS
Bank for International Settlements’ triennial survey of foreign exchange markets shows decline in prevalence of local transactions, dollar and sterling