News
Banks starting to think local after crisis, BIS finds
Banks around the world are slowly shifting to rely on local retail funding, says the Bank for International Settlements
Shirakawa wants financial stability as primary mandate
Governor of the Bank of Japan believes central banks' key task should be to achieve a stable financial environment; says higher inflation targets would do little good at the zero bound
Brussels backs bank tax to fund new resolution network
European Commission calls for a network of resolution funds to bear cost of winding down firms; cost covered through levy on lenders
Microfinance pioneer laments crisis as missed opportunity
Grameen Bank founder Muhammad Yunus says governments passed up chance to change financial model in a way that would have better served the needs of society
UAE governor urges sovereign funds to repatriate
Governor of the Central Bank of the United Arab Emirates Nasser Al-Suwadi appeals to sovereign wealth funds in the region to reject pre-crisis strategy of investing in companies based in advanced economies and instead inject funds into the Gulf region
US, Chinese regulators sign cross-border resolution deal
Federal Deposit Insurance Corporation and China Banking Regulatory Commission to cooperate and write shared contingency plans for cross-border failures; move follows United Commercial Bank failure
ECB insists eurozone bonds decision was its own
Political pressure played no part in ECB decision to buy bonds, says board member
Philly, Cleveland Fed presidents net inflation-busting pay rises
Federal Reserve's Annual Report shows ten out of 12 regional Fed presidents earned above-inflation salary increases
Fed overpaid for crisis assets by $21 billion: government report
Congressional Budget Office report estimates the Federal Reserve subsidised banks and investors by $21 billion through its credit programmes
ECB buys another €10 billion in government debt
Analysts split on whether second round of purchases with German ban on naked short spooks European markets
Spanish CDS spread jumps as four banks announce merger
Four regional savings banks announce merger after one ailing lender was seized and placed into administration by the central bank on Saturday; move plays into investor fear that banking sector is unsteady
Iosco calls on regulators to share information
International securities body says members should cooperate outside an enforcement context to spot disturbing trends; report sets out principles of bilateral information-sharing deals
Securities and Exchange Commission appoints new chief financial officer
SEC's appointment of new chief financial officer follows criticisms last year from the US Government Accountability Office
RBA offshoot used prostitutes and bribes to win contracts: police witness alleges
Former employee of Securency, a Reserve Bank of Australia offshoot, alleges firm used bribes and prostitutes to win contracts to supply polymer substrate to foreign central banks
Bank of Spain bail-out spooks investors
Spanish central bank’s rescue of savings bank CajaSur on Saturday sees Spanish bank shares falling on Monday; central bank says rescued bank accounts for very small percentage of system overall
Foreign holdings of US Treasuries fall for second straight week
Data show holdings of US Treasuries by foreign central banks with accounts at the Federal Reserve declined for a second successive week; use of swap lines lower than expected
Rate round-up: Israel opts to hold
Israeli, Kenyan, Turkish and Serbian central banks’ rates remain unchanged
Volcker rule fails to make approved Dodd bill
Key amendment omitted; Fed gains powers but will face audit in sweeping regulatory reform
Riksbank’s Persson: don’t shoot CDS ‘messenger’
The Swedish central bank uses CDS spreads as an indicator of financial stability
Bank of Italy defends change on capital accounting
Allowing banks to ignore falling bond prices for capital purposes is a legitimate move, says regulator
Eurozone crisis weighs on Swiss exit plans: SNB's Jordan
Swiss National Bank deputy head Thomas Jordan says normalisation of monetary policy hampered by eurozone debt crisis
Iran's central bank faces sanctions squeeze
Iranian central bank's dealings could come under international spotlight if Security Council passes nuclear sanctions package
Hungarian prime minister-elect hints at Simor ouster
Hungary’s incoming prime minister gives clearest sign so far that András Simor’s days as central bank governor could be numbered; party wants a central bank that will stimulate economy
Macroprudential tools need hard, fast rules: BIS
Basel-based Committee on the Global Financial System says macroprudential policy needs as strong a mandate as monetary policy to work