News
Tuvalu joins IMF
Remote island of Tuvalu gains access to IMF resources after becoming 187th member at the Fund
Volcker rule faces dilution as lawmakers haggle: reports
Lawmakers in US Congress thought to be weakening Volcker rule, turning outright bans on prop trading and hedge fund investment into caps; legislation being pushed through to make 4 July deadline
Denmark’s Bernstein proposes UK-style merger between central bank and regulator
National Bank of Denmark director Nils Bernstein says collaboration between the central bank and Financial Services Authority will sharpen supervisory powers
FSA heads push back on regulator's abolition
Chairman and chief executive of the UK regulator say decision to break it up is ill-timed
BIS proffers history books online
Bank for International Settlements puts back catalogue of Annual Reports online; early reports observe difficulties of war and the importance of fora for central bank collaboration
Norges Bank takes reputation poll
Norwegian central bank publishes outcome of its first ever reputation survey; poll finds central bank is doing well in public eyes, but could be more open
Iceland poised to lift all capital controls
Central Bank of Iceland says full liberalisation could begin at the end of July, as króna continues to soar and inflation falls closer to target; draws on bilateral credit lines to boost reserves
Gold to put in sparkling performance: asset managers
Central bank reserve managers from around the world say gold will do better than any other reserve asset in 2010; metal’s importance to soar over near future
Bank’s Sentance in shock call to raise rates
Arch hawk argues inflation risks warrant quarter-point hike in rates
Agathe Côté named new Bank of Canada deputy
Bank of Canada adviser Agathe Côté named as replacement to Duguay after deputy governor retires
ECB meet signals Gulf’s common currency intent despite euro woes
Governors of Saudi Arabian Monetary Agency, the Central Bank of Kuwait and Qatar Central Bank to meet with Jean-Claude Trichet and Mario Draghi next week to discuss how best to adopt a single currency
Brazilian opposition candidate threatens central bank’s independence
Opposition party presidential candidate José Serra says rate-setting will be a political process under his leadership; latest poll puts Serra on level footing with governing party candidate
Eurozone crisis threatens Canadian financial stability
Bank of Canada links deterioration of risks surrounding global imbalances and the growth outlook to single currency zone’s sovereign debt crisis
Regulators hit back at IIF’s doom-laden predictions of Basel III impact
Regulators believe the IIF has over-estimated the effect of the planned Basel III reforms
Fed calls on banks to step up pay reform
A Federal Reserve review on executive compensation says firms need a more comprehensive review of risks relating to misaligned pay incentives
Hungary’s Simor breaks silence on government attacks
National Bank of Hungary governor András Simor slams repeated attacks of central bank and proposal to interfere with central bankers’ pay; government could force Simor out, analysts think
Naidene Ford-Hoon to head Sarb financial services wing
Accountant Naidene Ford-Hoon replaces Gerrie Terblanche as head of financial services at the South African Reserve Bank
Markets rejoice as Beijing reverts to managed float
Investor risk appetite soars as China drops the renminbi’s rigid dollar peg; analysts say Beijing’s policy shift sparked by potential benefits, rather than international pressure
Trichet: European Union needs to adopt sanctions to curb spending
ECB president Jean-Claude Trichet proposes sanctions against countries that overspend in order to fulfill obligations of new crisis management institution under review
Ireland unveils new supervisory code
Central Bank of Ireland report heralds move towards tougher approach; plans to create departments to implement more stringent regime
Zimbabwe orders end to seizure of central bank assets
Zimbabwe's finance minister Tendai Biti stops auctioning of central bank assets in bid to revive beleaguered institution
Accounting change behind Saudi gold surge
Saudi Arabian Monetary Agency’s gold reserves more than double due to accounting adjustment; European central banks keep to agreement while Russia, Philippines buy
PBoC to regulate non-bank payments providers
People’s Bank of China sets out new legislation governing non-financial institutions that provide payments services; law an attempt to shed light on burgeoning payments network
Singer named new Czech National Bank governor
Vice governor Miroslav Singer appointed CNB governor for six-year term