News
Top US regulators restless over too-big-to-fail
Fed’s Jerome Powell and FDIC’s Martin Gruenberg stress the need for ongoing progress in bid to eliminate ‘too-big-to-fail’ problem
ECB lauds 2012 as year of ‘great achievement' for T2S programme
Annual report details progress in 2012 including 22 participating clearing houses and new governance and legal frameworks, though one deadline has already been missed
New Zealand central bank publishes macro-prudential ‘tool-kit' consultation
Four new tools proposed by Reserve Bank of New Zealand; former RBNZ chief economist says implementation will take time, but anticipates an ‘announcement effect'
BoE Funding for Lending Scheme sees loans contract in first 6 months
Data out today show lending down following the introduction of FLS; BoE points to the counterfactual and says transmission 'takes time'
People: Bank of England reappoints Dale and Haldane to committee posts
BoE hands Spencer Dale and Andrew Haldane – both executive directors – further three-year terms on the financial and monetary policy committee respectively; Sweden deputy stands down
Latvia submits application for a seat at the euro table
Baltic nation sees membership of European single currency as the 'logical next step' of further integration into the European Union
Norges Bank ‘takes note’ of report criticising its communication
Norges Bank governor Øystein Olsen unintentionally misled markets over Norges Bank rate cut last year, according to a report funded by Ministry of Finance
Japan’s Kuroda signals ‘substantive step change’ in fight against deflation
Haruhiko Kuroda, nominated as the next Bank of Japan governor, says the central bank is not doing enough to stimulate inflation
ECB under pressure to act as eurozone unemployment hits new heights
Analysts see growing chance of rate cut as eurozone unemployment rises 10%, while it falls in the rest of the European Union
Hungary PM picks finance minister Matolcsy for central bank top job
Government seeks to ‘harmonise’ policy with central bank by nominating finance minister György Matolcsy as András Simor’s successor; appointment could herald greater policy easing
Central banks are 'not competing' over currencies, says Swiss bank chief economist
Central banks are pursuing domestic priorities and are not engaged in competitive devaluation, says keynote speaker at FX Invest Europe conference
Kyrgyzstan's Asankojoeva weighs emerging stability threats
Governor of the Kyrgyz central bank talks of efforts to maintain stability in the face of corruption, limited financial inclusion and a spat over the Kumtor gold mine
National Bank of Slovakia backs controversial law
Slovakian central bank supports draft law to prohibit foreign bank branches from offering mortgage loans; questions over legality of law under EU treaty
Perception of EM risk reduced by central bank safety net, say investors
Large foreign exchange reserves held by emerging market central banks makes investing in those countries attractive, say panellists at FX Invest Europe
European legislators agree sweeping rules for banking sector reform
European Parliament and Commission agree CRD IV package to tighten capital rules, increase bank transparency and curb bankers' bonuses
Abe picks Kuroda to head Bank of Japan
Haruhiko Kuroda nominated next governor of the Bank of Japan; markets respond positively but commentators warn Kuroda’s dovish stance could amount to debt monetisation
People: State Bank of Pakistan’s board overhauled; RBI deputy’s term extended
State Bank of Pakistan receives five new directors; Reserve Bank of India deputy responsible for banking operations extends stay; and more
Bernanke commits to continuing asset purchases
Fed chairman says benefits of ongoing monetary policy stimulus are clear; urges US government to delay bulk of impending spending cuts
UK regulators back tough action on banking sector competition
FSA and FCA chiefs say new regulators will try to reduce banking sector concentration, including potentially breaking up large banks; Wheatley warns PRA and FCA may not see eye-to-eye on the matter
BoE’s Fisher sees longer horizon for asset purchases
MPC member Paul Fisher says Bank of England should consider switching to a more gradual pace of asset purchases over a longer period of time
New Zealand finance minister proposes new central bank toolkit
Bill English says new tools would allow RBNZ to manage excesses in credit cycles; emphasises credibility will hinge on continued central bank independence
Czech National Bank enlists mobile app in fight against forgery
New mobile app to help Czechs check notes and coins for signs of forgery; counterfeit seizures continue downward trend
Byres hints at Basel Committee rethink on risk-weight modelling
Secretary-general weighs challenges of balancing complexity and simplicity of capital requirements; outlines possible changes to banks’ risk modelling choices
Osborne quizzed over banking commission recommendations
UK chancellor questioned by parliamentary commission for omitting recommendations on capital rules and full retail banking separation in new banking legislation