News
India to get new deputy governor
Subir Gokarn to replace Rakesh Mohan as Reserve Bank of India deputy governor
Sri Lanka cuts rates
Central Bank of Sri Lanka cuts benchmark borrowing cost to 7.5%, narrows rate corridor
Fed counters criticisms of AIG rescue
Federal Reserve defends itself against charges of mishandling American International Group’s bailout after damning report from Tarp overseer
SARB’s mandate up for review
Pretoria to mull Reserve Bank’s inflation-targeting framework; central bank holds rates
Brazil rate-setter quits over controversy
Brazilian central bank’s monetary policy director resigns days after revealing rate-setters’ frustration at Lula
Mauritius buys IMF gold
International Monetary Fund sells two tonnes of gold to Bank of Mauritius
Fed’s Kohn rejects bubble claims
Fed deputy acknowledges carry trade but dismisses fears low rates are stoking asset-price bubbles
Oman signs up to new FX, payments system
Central Bank of Oman’s move represents part of a broader trend by emerging-market central banks to refine operational systems
Shirakawa cautions on carry trade
Bank of Japan’s governor becomes latest official to warn on dangers of low rates in advanced economies; notes balance-sheet adjustments will impact efficacy of monetary policy
UK regulator to be allowed to “tear up” bankers’ contracts
Britain’s financial regulator will have its powers increased, allowing it to punish errant banks and bankers for excessive risk-taking
Bank’s Tucker details root-and-branch reform proposals
Bank of England’s Paul Tucker outlines reforms necessary to curb systemic risk build-up
US policy threatens emerging markets: China’s top regulator
Chairman of China’s regulator says weak dollar and low rates are dangerous to the global economy; echoes recent comments from top Japan, HK officials
Spain’s Ordóñez plays down dynamic provisioning
Bank of Spain’s governor modest on much-vaunted regulatory tool
India announces payments overhaul
Root-and-branch reform will see Reserve Bank of India investigate the introduction of a new RTGS system, a domestic card initiative and mobile payments settlement
HK’s Tsang fears the Fed
Hong Kong’s chief executive says Federal Reserve is stoking next bubble through near-zero interest rates
Canada’s Longworth set to leave
Bank of Canada’s David Longworth announces retirement two weeks after senior deputy Paul Jenkins
Lisbon considering Constancio nomination for ECB VP
Senior lawmaker says other eurozone members receptive to the idea of Portugal’s governor succeeding Papademos next year
Fed bans ATM, debit-card overdraft fees
Federal Reserve says banks will no longer be able to charge overdraft fees for ATM and debit-card payments
Rules must cover link between liquidity and default: Goodhart, Tsomocos
Interrelationship between liquidity and defaults must be addressed by regulatory proposals
ECB publishes inaugural payments oversight report
European Central Bank reports on robustness of payments systems to increase transparency and public understanding
BIS data show rebound in OTC derivatives
Notional amount of OTC derivatives trades rises by 10% in six months to June after fall in final half of last year
China to keep policy “moderately loose”; hint at yuan appreciation
People’s Bank of China to maintain accommodative policy stance, suggests renminbi appreciation could be possible
Draghi calls for unity to back “major” changes
Financial Stability Board’s Mario Draghi says regulators from across the globe must co-operate to create a world in which no bank becomes too big to fail
Korea holds rates for ninth month
Bank of Korea keeps its base rate unchanged, citing resurgence in domestic economic activity