News
ECB breaks equal-treatment pledge and accepts Greek junk bonds
European Central Bank suspends minimum credit rating on Greek government debt, breaking its commitment to universal collateral rules
Lower growth a price worth paying for strong banks: Wellink
Basel Committee chairman Nout Wellink says potential drop in growth not too high a price for more robust banking system; secretary-general Stefan Walter says regulatory requirements still too soft
Uganda gives banknotes a facelift
Bank of Uganda introduces a new denomination and upgrades five existing bills with new security feature, Tumusiime-Mutebile emphasises that the issue is not politically motivated
China lifts reserve ratio on fears over inflows, Australia hikes again
People’s Bank of China raises reserve requirement ratio by 0.5% as concern mounts on currency speculators; Reserve Bank of Australia tightens as data suggest growth will outstrip 2009
Basel Committee’s Walter: Basel III on track
A package of reforms to the Basel II capital framework will be calibrated by year-end as planned, says secretary-general.
Justice department begins criminal investigation into Goldman fraud: reports
SEC refers Goldman Sachs fraud case to the to US Justice Department as criminal investigations begin
Trichet: economic, not monetary, reform of EMU necessary
ECB president Jean-Claude Trichet calls for broader economic reforms to mend Europe’s Economic Monetary Union (EMU)
Taiwan to scrutinise lending on hot money fears: reports
Official from Central Bank of the Republic of China (Taiwan) reportedly says lenders’ foreign currency loans will be inspected for signs of speculation on currency
Obama picks Yellen for Fed vice-chair
US President confirms speculation by nominating San Francisco Fed chief Janet Yellen as central bank’s deputy head, economist Peter Diamond and state regulator Sarah Raskin proposed for the board
Japan to make 'new efforts' to boost growth
Bank of Japan introduces new pledge to help lay foundations for strong growth, says it will set up temporary facility to support lending to business
Central bankers split on raising inflation targets: poll
CentralBanking.com poll shows a slim majority think raising targets to 4% is a bad idea, while nearly 44% approve to some extent
Capital ratio hikes 'not appropriate' for South Africa
South African Reserve Bank says lenders already hold more than necessary and further hikes will only hit profits; deputy governor Guma flags work on macroprudential framework
Buba’s Weber chastises 'counterproductive' stalling on Greece
Bundesbank president Axel Weber calls for swift action to move forward as Standard & Poor’s downgrades Spain in further sign that Greek crisis is spilling over to neighbouring countries
US senators finally agree to reform debate
Having blocked discussions from Monday to Wednesday, Republican senators agree to let disputed regulatory reform bill be debated
Rate round-up: Brazil hikes, most hold, Russia cuts
Brazil raises policy rate to 9.5%, Russia cuts to 8.25%; United States, Poland and New Zealand hold
Election uncertainty clouds future of FSA, Bank
Regulator could be swallowed by central bank if Conservatives win, but polls and analysts divided on most likely outcome
S&P’s Greek downgrade puts collateral issue back on agenda at ECB
Standard & Poor’s downgrades Greece’s debt to junk, the implications mean collateral would be ineligible at the European Central Bank if Moody’s and Fitch followed suit
Republicans propose end to Fed's quasi-fiscal activity
Senate Republicans leak alternative regulatory proposals calling for an end to Fed’s involvement in shoring up broad sectors, central bank cannot lend to firms with solvency problems under plans
Provopoulos: Greece must regain competitive edge
Bank of Greece governor tough on reform; calls for a break from the past
Incoming party renews efforts to topple Hungary’s Simor
Political heat on National Bank of Hungary governor András Simor intensifies as deputy chief of soon-to-be ruling party calls for his resignation
Trichet to rally German support for Greek bailout
European Central Bank president Jean-Claude Trichet expected to urge German lawmakers to stop dragging their feet over the Greek bailout, markets suffer as uncertainty persists
Fed advice cited in Senate vote against reform bill
Regulatory reform bill falls short of votes required for debate, Republican senator cites message from Fed staff criticising last-minute derivatives provisions
Ireland sets pace with governance reform proposals
The Central Bank and Financial Services Authority of Ireland release proposals to end poor practices at financial institutions
Subbarao moots Tobin tax to curb capital inflows
Reserve Bank of India governor Duvvuri Subbarao says all options on the table as it attempts to act on investment influx