News
Canada cuts rates further
Canada's central bank cut its key interest rate by a quarter-point on Tuesday, saying the country's economy needs the stimulus to ward off the effects of a recession in the United States.
Interbank rates ease further
The cost of borrowing three-month funds in interbank markets on Tuesday extended the declines registered over the preceding six trading days.
Russia in currency-swap clampdown
With rouble under increasing strain, the Central Bank of Russia has announced stringent new limits on the maximum amount of currency swaps that may be traded each day.
RBI strikes day after rate cut
An employee strike at the Reserve Bank of India shut down trading on the Mumbai bond exchange on Tuesday.
Korea guarantees banks' foreign debt
The Korean government has announced bolds initiative to help its financial institutions overcome difficulties in securing overseas funding.
ING gets Dutch lifeline
ING, the biggest financial services firm in the Netherlands, has become the latest major financial institution to receive a capital injection from the government.
Thaw in money markets gathers pace
The cost of borrowing in interbank markets declined on Monday, indicating that measures implemented by governments and central banks around the world to reduce tensions in frozen interbank markets are finally gaining traction.
India cuts rates by 1%
The Reserve Bank of India slashed its key short-term lending rate by a full percentage point on Monday. It was the central bank's first reduction in rates since March 2004.
Czech banknote wins prize
The International Association of Currency Affairs, an industry body, has announced that the Czech National Bank (CNB) was the runner-up in its Banknote of the Year award for the 1000-krone banknote, issued in April this year.
Flight from Fannie, Freddie may cloud US outlook
Official institutions' flight from US agency debt could hamper the effectiveness of Fannie Mae's and Freddie Mac's role in repairing the US mortgage market.
Singapore, Malaysia guarantee all deposits
Singapore and Malaysia became the latest countries to issue blanket guarantees on all deposits on Thursday.
Qatar takes stake in Credit Suisse
The Qatar Investment Authority, a sovereign wealth fund, has bought a stake in Credit Suisse, Switzerland's second-largest bank.
Bank appoints new financial stability director
The Bank of England has promoted Andrew Haldane, the head of its systemic risk assessment division, to executive director for financial stability.
Ex-Fed's Poole: Treasury coercion may hinder plan
The US Treasury's decision to force some banks to participate in its plan to recapitalise America's banks could prove its undoing, warned Bill Poole, a former president of the St Louis Federal Reserve.
Swiss step in to save biggest bank
The Swiss National Bank on Thursday agreed to buy up to $54 billion in troubled assets from UBS, after the country's government moved to re-capitalise the beleaguered bank.
Bank reforms money market operations
The Bank of England set out plans for three major reforms of its money market operations, including proposals for two new facilities aimed at alleviating the tensions that have kept prices for interbank loans well above historical norms.
Bernanke, Kohn grim on outlook
Ben Bernanke and Don Kohn, the two top officials at the Federal Reserve, have forecast a gloomy outlook for the American economy.
ECB to loan Hungary up to €5 billion
The European Central Bank (ECB) on Thursday granted the National Bank of Hungary a €5 billion ($6.8 billion) credit line following sharp declines in the forint and local stocks the day before.
Tokyo finally nominates deputy
The Japanese government has nominated Hirohide Yamaguchi for the role of deputy governor at the central bank, a position left vacant since March.
ECB makes bold attempt to break credit logjam
The European Central Bank's (ECB) latest action to unblock money markets, announced Wednesday, looks likely to succeed, economists say.
Iceland slashes rates as economy faces meltdown
The Central Bank of Iceland has cut its key rate by 350 basis points on the back of the meltdown in the country's banking sector.
India pledges more liquidity
The Reserve Bank of India on Wednesday took further steps to shore up liquidity, judging that the global turmoil warranted action.
Norges Bank cuts on signs of swift slowdown
Norges Bank on Wednesday lopped half a point off its key rate on signs real economic activity would slow at a faster rate and to a greater degree than predicted.
Fed picks Pimco to run commercial paper facility
The Federal Reserve has picked Pimco, a bond fund, to manage the assets of its Commercial Paper Funding Facility, which accepts unsecured debt notes direct from the issuer.