News
Fed aids Treasury in toxic-asset removal
To support the Treasury's plan to rid banks of toxic assets, the Federal Reserve on Tuesday said that it will take some mortgage-backed securities on to its books from July.
Basel Committee issues stress-test guidelines
The Basel Committee on Banking Supervision has produced a raft of measures for the sound governance, design and implementation of stress tests.
Sub-Saharan Africa faces severe slump, IMF warns
The International Monetary Fund warned on Tuesday that economies in sub-Saharan Africa were facing a "severe downturn" and called for a strong public-policy response both domestically and internationally.
Brazil and China planning link-up to ditch dollar
A Central Bank of Brazil official has said that trade between the country and China will be conducted in reals and renminbi rather than dollars.
HKMA's Yam confirms retirement
Joseph Yam, the chief executive of the Hong Kong Monetary Authority (HKMA), is to step down in October, it emerged on Tuesday.
Malaysian state sets up $5 billion SWF
Malaysia's oil-rich Terengganu state will establish a M$11 billion ($3 billion) ringgit sovereign wealth fund with a M$5 billion bond issuance later this week.
Minneapolis Fed puts downturn in perspective
The Minneapolis Federal Reserve has produced a series of charts comparing the current recession with other downturns in the United States in the post-war period.
BIS data show derivatives market contracting
The rapid growth of the derivatives market reversed in the wake of the collapse of now-defunct investment bank Lehman Brothers - an event which revealed the fragility of the industry - data from the Bank for International Settlements (BIS) out Tuesday…
Fed outsources in-house cheque images system
The Federal Reserve has decided to migrate its archive of cheque images to a private provider in an effort to reduce costs.
Governance role to shift in crisis aftermath
Central bank governance is set to change in the aftermath of the financial crisis as institutions' roles adapt, a report out Monday has said.
Bank concerned on clarity of stability role
The Bank of England on Monday called for more clarity on and greater powers to fulfil its financial stability mandate.
BoJ's Hayami passes away
Masaru Hayami, the governor of the Bank of Japan who presided over the institution's introduction of quantitative easing, has died. He was 84.
Iceland MPC member: too many men led to bad banks
A member of the Central Bank of Iceland's recently-founded Monetary Policy Committee has said that an overabundance of "male bankers high on testosterone" taking "too much risk" was one of the reasons why financial professionals behaved so badly in the…
Boediono named as running mate, set to resign
Reports emerged on Friday that Boediono, the governor of Bank Indonesia, was tendering his resignation after he was named as the president's choice for running mate.
Temasek sells Bank of America shares
Temasek, one of Singapore's sovereign wealth funds, has sold its stake in Bank of America in a bid to reduce its considerable exposure to western banking stocks.
BoE outlines objectives for liquidity rules
Nigel Jenkinson, an adviser to the governor of the Bank of England and a member of the Financial Stability Board, on Friday detailed five objectives for a new framework on liquidity risk.
Egypt narrows rate corridor with cuts
The Central Bank of Egypt narrowed its rate corridor and loosened monetary policy in a bid to foster credit growth.
UAE looks to combat money laundering
A committee led by the head of the Central Bank of the United Arab Emirates (UAE) has announced measures aimed at cracking down on money laundering and terrorist financing.
Yam to join PBOC?
Joseph Yam, the chief executive of the Hong Kong Monetary Authority (HKMA), will join the People's Bank of China in the autumn, a local magazine has reported.
Obama administration unveils derivatives overhaul
The United States on Wednesday proposed a series of radical reforms to the derivatives industry.
Ex-FDIC's Seidman dies
Bill Seidman, the chairman of the Federal Deposit Insurance Corporation (FDIC) who presided over the savings and loan crisis, has died.
Norwegian payments system passed crisis test
Norges Bank's payments system successfully handled the challenges posed by the financial crisis, the central bank said on Thursday.
Latvia cuts to 4%
The Bank of Latvia cut its key rate by a full percentage point on Thursday in a bid to limit the scale of its economic contraction.
Global monetary reform our biggest challenge: King
Reform of the international monetary system is the biggest challenge facing the world today, Mervyn King, the governor of the Bank of England, said on Wednesday.