News
HKMA unveils design of two new banknotes
The Hong Kong Monetary Authority says improved security features on new banknotes will reduce counterfeits in circulation
Euro counterfeits fall by 13%
ECB statistics show 387,000 forged euro banknotes recovered in first half of 2010; €50 note overtakes €20 as most popular bill to fake
HKMA, PBoC agree to expand renminbi business
New agreement will enable banks in the territory to establish renminbi accounts for financial institutions
East Asian, Pacific governors set for 15th annual meeting
Executives’ Meeting of East Asia and Pacific Central Banks gears up for 15th outing in Sydney; regional currency and financial stability issues to dominate agenda
Fed names new regional chairs
Washington-based board announces heads of 12 Federal Reserve banks for 2010; none from banks
Fed is the main winner from Dodd-Frank bill: Meyer
Former Federal Reserve governor Laurence Meyer says the central bank has gained powers it wanted and shed responsibilities it did not, despite initial anti-Fed sentiment among lawmakers
Yam joins China Investment Corporation
Former HKMA chief executive Joseph Yam appointed to sovereign wealth fund’s international advisory council
India approves new currency symbol
Indian government picks symbol for rupee after nationwide contest; says country’s growth and arrival on the international economic stage merit symbol
Irish central bank sees profits more than double
Central Bank of Ireland 2009 Annual Report shows profits rose past the $1 billion mark last year
FOMC faces tricky task in avoiding another bubble
FOMC officials’ pessimism about conditions highlights challenge central bank faces in fulfilling its dual mandate
Basel Committee counter-cyclical proposals tie buffers to economic indicators
Committee publishes paper on counter-cyclical capital and defers recommendations on Basel III to oversight board meeting on July 26
Dodd-Frank passes but leaves questions unanswered
Financial reform legislation passes in the US Senate, as focus turns to the complex issue of implementation
Spanish banks’ reliance on ECB rockets again
Bank of Spain data shows the country’s lenders borrowed 48% more from the European Central Bank in June than in May; figures renew worry on sector’s health, but government remains adamant
Analysts dub IMF commitments to Asia redundant
IMF makes strides to repair relationship with Asian region through series of commitments, analysts say move lacks substance
Tough capital rules will not stunt growth: Bank's Miles
Bank of England rate-setter David Miles roundly dismisses industry argument that harsher capital standards will choke off growth
Hong Kong investors claw back more Lehman losses
Hong Kong unit of DBS bank will pay just under $84m in compensation to holders of Lehman-linked credit notes; settlement follows on from agreement on minibonds
Wadhwani scolds central banks for reluctance to say sorry
Former Bank of England Monetary Policy Committee member disappointed over central banks' reluctance to admit need to lean against the wind
FSA’s Turner: financial deepening has its limits
Financial Services Authority chairman Adair Turner says no clear relationship between financial deepening and growth in advanced economies over the past 30 years
BoE's Haldane calls for new measure of banks' growth
The “golden era” of finance between early 1990s and 2007 was no productivity miracle as national accounts data and growth accounting suggest
Former MPC member Blanchflower unconvinced by Bank’s QE paper
Former Bank of England Monetary Policy Committee member David Blanchflower highlights large errors in results used to explain impact of QE programme
UK FSA reorganisation happening quickly, says head of risk
The break-up of the UK Financial Services Authority is beginning to take shape, says the regulator's head of risk management
Uganda ready to shore up currency, says deputy
Bank of Uganda deputy governor Louis Kasekende calms markets with pledge to stabilise currency as security concerns grow after weekend bombings
ECB draws Hungarian government’s fire over pay dispute
European Central Bank opinion on proposed wage cap at National Bank of Hungary angers government; prime minister plans objection
Korean growth revision a sign of further hikes to come, say analysts
Analysts say Korean central bank is likely to raise rates further after it forecast higher growth in 2010