News
SEC to revamp whistleblower procedures
The Securities and Exchange Commission (SEC), the US stock-market regulator, has announced a sweeping review of the way it handles whistleblower complaints and tip-offs.
Tory report backs greater BoE role
A report commissioned by the opposition Conservative Party in the United Kingdom has suggested that the tripartite system for financial stability, involving the Bank of England, the Treasury and the Financial Services Authority (FSA) has failed and…
De Grauwe fears beggar-thy-neighbour policies
A lack of coordination between the world's leading central banks in the current crisis raises concerns over a return to beggar-thy-neighbour policies, a leading European economist has argued.
Failure to see big picture fuelled boom: IMF
An inability by officials to see the "big picture threat" of a growing asset-price boom was a key cause of the current crisis, the International Monetary Fund (IMF) said on Friday.
Russia bans SWFs from holding US agency debt
Moscow has banned its sovereign wealth funds from holding US agency debt, declaring the paper too illiquid.
Nordic crunch's key lesson: avoid party politics
The Nordic credit crisis in the 1990s revealed that a united stance by politicians is crucial in averting a financial meltdown, the head of the Bank of Finland's research department has said.
Poland not seeking IMF support: Skrzypek
Slawomir Skrzypek, the governor of the National Bank of Poland, has confirmed that the country will not require International Monetary Fund (IMF) financing.
China's Zhou promises rapid action if needed
Zhou Xiaochuan, the governor of the People's Bank of China, has pledged to act speedily and forcefully to prevent a slump in confidence during the financial crisis.
ECB books €2.7 billion surplus
The European Central Bank (ECB) earned a surplus of €2.66 billion ($3.34 billion) last year on the back of the euro's appreciation against the dollar and the yen, it emerged on Thursday. The central bank also revealed that it was owed €10.3 billion by…
Bank begins £150 billion money-supply boost
The Bank of England on Thursday said it would boost the money supply by up to £150 billion ($211 billion) in a bid to revive the health of Britain's ailing economy. The Bank's Monetary Policy Committee also cut rates to a fresh all-time low of 0.5%.
India makes fresh attempt to spur growth
The Reserve Bank of India announced a fresh round of rate cuts on Wednesday aimed at restoring the health of its ailing economy.
It's his way or the highway for Bernanke
Ben Bernanke, the chairman of the Federal Reserve, will travel to his hometown of Dillon, South Carolina, over the weekend to see an interchange renamed in his honour.
ICE's CDS clearing plan gets Fed's approval
The Fed has accepted a bid by ICE Trust - an amalgam of an exchange operator, a provider of clearing services and eight banks - to run a central counterparty and clearing house for the global credit-default-swap (CDS) market.
Swiss central bank books $4 billion loss
The Swiss National Bank was Sfr4.7 billion ($4 billion) in the red for 2008, it emerged on Wednesday.
CEE regulators condemn stability "misperceptions"
Six central and eastern European regulators on Wednesday jointly attacked the recent coverage of their economies, labelling it misleading, oversimplified and potentially harmful.
Name and shame borrowers: senator tells Fed
Bernie Sanders, a senator representing the state of Vermont, has blasted Ben Bernanke, the chairman of the Federal Reserve, for refusing to disclose the recipients of Fed funds.
UAE establishes crisis group
The Central Bank of the United Arab Emirates said on Wednesday that it would set up a group to tackle the impact of the credit crisis on the seven states.
Japan to use currency reserves to aid economy
Japan's government unveiled plans on Tuesday to use some of the country's foreign currency reserves to help its firms.
Unconstitutional Fed aid a threat to independence
The Federal Reserve risks incurring the wrath of Congress and limiting its independence with its credit policy, Jeffrey Lacker, the president of the Richmond Federal Reserve and a voting member of the Federal Open Market Committee, has warned.
IMF staffer urges global effort to stem deflation
An International Monetary Fund (IMF) economist has called on central bankers to begin multilateral talks to stave off worldwide deflation.
Greece appoints new deputy governor
Ioannis Papadakis was sworn in as deputy governor of the Bank of Greece on Tuesday.
Iceland selects chief economist for new MPC
Reykjavik appointed Thorarinn Petursson, the Central Bank of Iceland's acting chief economist, to its newly-created Monetary Policy Committee on Tuesday.
Canada lowers again, may boost money supply
The Bank of Canada cut its benchmark rate to a record low of 0.5% on Tuesday, saying that recent data had revealed a worse-than-expected slowdown. The central bank also said that it could raise the money supply through quantitative or credit easing.
Denmark names new departmental heads
The National Bank of Denmark has chosen Ove Sten Jensen and Ib Hansen as the new heads of departments for its government debt management and in its market operations wings.