News
PBoC’s Du promoted to deputy governor: reports
People’s Bank of China has promoted assistant governor Du Jinfu to deputy, according to news reports; Du replaces Su Ning, who is past official retirement age
FSA’s Sants calls on regulators to judge banks' culture
UK Financial Services Authority chief Hector Sants says supervisors can no longer back away from judging whether culture in banks complies with accepted standards
Corporates should be forced onto central counterparties – BIS
Central counterparties are wrongly perceived as being more expensive than OTC transactions, says a leading economist
FSA split as Britain switches to twin-peaks approach
Hector Sants to become deputy governor and chief executive of new prudential regulator, which moves to the Bank of England
CentralBanking.com panel: ECB’s response to Greek crisis too slow
Mike Williams, Paul Mortimer-Lee, and Phil Davis say the ECB should have moved more swiftly to tackle the fiscal problems in Greece
Former Bank chief economist to chair new banking commission
Sir John Vickers named head of Independent Commission on Banking that will decide the future of British lenders
Top economists call for central banks to oversee financial stability
Leading thinkers including former Federal Reserve Board governor Frederic Mishkin say central banks should watch financial stability; set of crisis prevention proposals include limits on bankers’ pay
Fed could win fight on monetary policy audit: reports
Media reports saw lawmakers in Congress's lower house could relent on forcing monetary policy decisions to be audited, as lawmakers work to forge swift agreement
Spanish banks’ reliance on ECB hits record levels
Data published by Spain’s central bank shows the country’s banks exhibiting an increasing level of dependence on the eurosystem, officials dismiss talk of bailout
Markets unfazed by Moody’s Greek walloping
Bulk of European bourses gain despite rating agency’s four notch downgrade of Greek sovereign debt; analysts link calm to tardiness of downgrade and renewed risk appetite
Bank’s Posen stoutly defends ECB bond purchases
Bank of England rate-setter Adam Posen slams critics who claim bond purchases will impinge upon central bank’s independence; says given low interest rates, bond purchases are essential monetary policy tool
HKMA flags potential for asset-price bubble from renminbi appreciation
Hong Kong Monetary Authority study suggests currency’s appreciation may have significant effects on asset prices
Sarb’s Mokate to exit after not securing new contract
South African Reserve Bank deputy governor Renosi Mokate to leave central bank after her five-year term expires
Bank of Japan details direct lending programme
Central bank outlines $33 billion quasi-fiscal programme to support economic growth; analysts say measure is a political gesture
Watch funding gaps, BIS warns Europe
European banks still have significant dollar funding gaps, leaving them vulnerable to foreign exchange shifts
Iraq central bank bombing leaves 15 dead
Suicide bombers and gunmen target Iraqi central bank; attack thought to be part of a series of robberies and heists orchestrated by Sunni insurgents
Carlos Costa replaces Constâncio at head of Bank of Portugal
Former EIB vice president Carlos Costa is sworn in as governor after Vitor Constâncio takes ECB deputy spot
Buba’s Sarrazin renews racism controversy
Bundesbank executive board member Thilo Sarrazin says Germany is getting “dumber” because of Turkish, Middle Eastern and African immigrants; comments follow similar remarks last year and intensify calls for his removal
UAE’s Al-Suwaidi says economy will grow 4% in 2010-11
UAE central bank governor Al-Suwaidi says growth will be 4% despite recent volatility in oil prices; substantial increase on IMF forecasts
External debt could prove perilous: NZ’s Bollard
Reserve Bank of New Zealand governor Alan Bollard cautions that the country faces external debt imbalances; calls for deficits to be slashed below 5% of GDP
Korea's Kim joins push for update to central banks' mandates
Bank of Korea governor Kim Choong-soo calls for rethink on attachment to price stability; says central banks should be equally observant of financial stability
Wellink says Basel III to be phased in gradually in bid to soothe fears
Basel Committee chairman Nout Wellink says proposals on new regulations on banking will be introduced in an orderly manner; unrepentant on costs to growth
Kohn to remain at Fed until September
Vice chairman to stay on as governor until Congress appoints replacement
Bank of Italy economists propose fix for interbank stresses
Director of economic outlook and monetary policy department, and senior economist at Italian central bank say fix could alleviate liquidity strains