News
'Audit the Fed’ clause weakened on independence fears
Senator who proposed full Fed audit drops demands to review discount window and open market operations, White House and Fed pressure seen as key
Fed’s Hoenig calls for counter-cyclical leverage ratio, slams Basel requirements
Hoenig calls for change in regulatory approach to bank lending by ditching Basel II approach in favour of ceiling on leverage
Norway’s wealth fund profits again
Norges Bank’s Government Pension Fund-Global returns just under 4% for first quarter of 2010, outperforming benchmark once again; fund will set up Singapore office to strengthen Southeast Asian presence
Rate round-up: Czech National Bank cuts on eurozone woe
Romania and Iceland also loosen; Australia, Peru and Norway raise rates by 25 basis points, Egypt and Indonesia hold
Trichet plays down 'nuclear option' to end Greece crisis
ECB president Jean-Claude Trichet says option for outright purchase of government bonds is not on table
Sovereign troubles will drag banks down: Moody's
Ratings agency says sovereign downgrades in the southern eurozone could lead to decline in banking sector, further spending cuts will exacerbate problem
Controversial ‘audit the Fed’ amendment stirs blogosphere
Independent senator proposes clause that gives government audit office extensive powers to review Fed’s decisions, support mounts among lawmakers and commentators
Senate okays disputed Argentine reserve transfer
Lawmakers in Argentina's upper house approve president’s decree to transfer $4.4 billion of central bank reserves to bond repayment fund
Philly Fed's number two to step down
Philadelphia Federal Reserve first vice president William Stone plans to step down towards the end of this year
Gono retains top job in new Zimbabwe board
Reserve Bank of Zimbabwe governor Gideon Gono shock survivor of management cull; nine new board members appointed to improve governance standards
European rating agency could break the hold of 'big three': Barnier
European commissioner Michel Barnier moots a continental ratings agency to introduce diversity, comments follow criticism of ratings agencies from European finance minister
BoE broad money returns to pre-crisis growth levels
Bank of England estimates show broad money rose sharply in March, as credit conditions in the United Kingdom continue to improve
Indonesia’s finance minister named World Bank managing director
Mulyani Indrawati moves to World Bank Group months after alleged corruption accusations
Investors’ hold on Sarb to be weakened
South African cabinet approves bill of amendments to central bank law that would disrupt formation of shareholder blocs and enhance corporate governance standards
ECB breaks equal-treatment pledge and accepts Greek junk bonds
European Central Bank suspends minimum credit rating on Greek government debt, breaking its commitment to universal collateral rules
Lower growth a price worth paying for strong banks: Wellink
Basel Committee chairman Nout Wellink says potential drop in growth not too high a price for more robust banking system; secretary-general Stefan Walter says regulatory requirements still too soft
Uganda gives banknotes a facelift
Bank of Uganda introduces a new denomination and upgrades five existing bills with new security feature, Tumusiime-Mutebile emphasises that the issue is not politically motivated
China lifts reserve ratio on fears over inflows, Australia hikes again
People’s Bank of China raises reserve requirement ratio by 0.5% as concern mounts on currency speculators; Reserve Bank of Australia tightens as data suggest growth will outstrip 2009
Basel Committee’s Walter: Basel III on track
A package of reforms to the Basel II capital framework will be calibrated by year-end as planned, says secretary-general.
Justice department begins criminal investigation into Goldman fraud: reports
SEC refers Goldman Sachs fraud case to the to US Justice Department as criminal investigations begin
Trichet: economic, not monetary, reform of EMU necessary
ECB president Jean-Claude Trichet calls for broader economic reforms to mend Europe’s Economic Monetary Union (EMU)
Taiwan to scrutinise lending on hot money fears: reports
Official from Central Bank of the Republic of China (Taiwan) reportedly says lenders’ foreign currency loans will be inspected for signs of speculation on currency
Obama picks Yellen for Fed vice-chair
US President confirms speculation by nominating San Francisco Fed chief Janet Yellen as central bank’s deputy head, economist Peter Diamond and state regulator Sarah Raskin proposed for the board
Japan to make 'new efforts' to boost growth
Bank of Japan introduces new pledge to help lay foundations for strong growth, says it will set up temporary facility to support lending to business