News
China warns on QE inflation threat
The People's Bank of China has said that quantitative easing posed huge risks for international markets and the global economy.
Riyadh to host regional central bank
Saudi Arabia's capital has been named as the location for the Gulf's regional central bank, after an eight-month delay.
France explains Sepa delay
The French National Single Euro Payments Area (Sepa) Committee has justified its decision to delay the implementation of Sepa Direct Debit until November 2010, a year after the first available start date.
FDIC recruits former Fed counsel
Michael Bradfield, a former head of the Federal Reserve's legal team, has been named general counsel of the Federal Deposit Insurance Corporation (FDIC).
Systemic rules a key challenge: Fed's Rosengren
Some of the most challenging issues on the regulatory agenda surround the role and powers of the institutions charged with systemic regulation, Eric Rosengren, the president of the Boston Federal Reserve, has said.
Norway cuts to a record low
Norges Bank on Wednesday cut its key rate by half a point to an all-time low of 1.5% on signs that the global recession was having an adverse impact on the domestic economy.
Fed's Hoenig pans US crisis approach
Thomas Hoenig, the president of the Kansas City Federal Reserve, has criticised several aspects of the United States's crisis response.
SNB's Hildebrand wants global bankruptcy code
Philipp Hildebrand, a member of the Swiss National Bank's governing board who will take the helm next year, has called for global insolvency standards as a means to handle the too-big-to-fail and too-big-to-save problems.
ASEAN agree on Chiang Mai
The 13 countries participating in the Chiang Mai Initiative to create bilateral currency swaps have reached an agreement on the main components of the scheme.
Sell to central bank: Caracas tells gold producers
The Venezuelan government said on Monday that local gold manufacturers must triple the amount that they offer for sale to the country's central bank.
France bails on Sepa Direct Debit
The French National Single Euro Payments Area (Sepa) Committee, set up and chaired by the Banque de France and the French Banking Federation, has opted to delay the implementation of Sepa direct debit by a year to November 2010.
Brazil slows pace of easing
The Central Bank of Brazil cut its key interest rate for the third time this year to a record low of 10.25% on Wednesday.
Central banks partly to blame: UK MPs
Though banks were ultimately culpable, central bank must acknowledge a share of the blame for the financial crisis, an influential group of British lawmakers has said.
Swine flu panic over at World Bank
The World Bank has said that employees could return to work on Friday after none of the staff exposed to a colleague thought to have contracted swine flu exhibited any symptoms.
Guyana set to take on insurance role
The Bank of Guyana's regulatory ambit may expand to include the state's insurance industry if legislation tabled by the government on Thursday is passed.
Roubini praises Geithner
Nouriel Roubini, the economist most often identified as having predicted the crash, has complimented Tim Geithner for his performance as the United States treasury secretary and as head of the New York Federal Reserve.
NZ to keep rate at record low until end of 2010
The Reserve Bank of New Zealand followed the Bank of Canada's lead on Thursday and said it was likely to keep its benchmark rate at or below its current record low of 2.5% until the second half of 2010.
BIS stats highlight extent of capital flight
Data posted from the Bank for International Settlements (BIS) on Wednesday provided fresh evidence for the doom-mongers on central and eastern Europe, and went some way to explaining recent movements in exchange rates.
SA expected to continue easing after 100bps
The South African Reserve Bank acted in line with market expectations on Thursday by cutting 100 basis points off its main rate - a move which it is now forecast to repeat in May after the governor signalled the economy was in recession.
Israel at odds with major bank over CEO role
The Bank of Israel has criticised the state's second-largest bank for the lender's hasty appointment of a new chief executive.
Trichet says shush on possible new tools
Jean-Claude Trichet, the president of the European Central Bank (ECB), has said that the Governing Council's omerta on interest rates a week before meetings must be extended to include possible additional tools that may be announced next Thursday.
Rate pledge already benefiting us: Canada's Carney
Mark Carney, the governor of the Bank of Canada, has said that the central bank's unprecedented promise to hold rates at record lows until at least June 2010 was already having a positive effect on credit conditions in Canada.
Fed stress tests may reveal need for more capital
Shares in Citi and Bank of America, two of the United States's biggest banks, were hit on Tuesday after reports emerged that the Federal Reserve would require them to hold more capital as a result of the central bank's stress tests.
More transparency on Maiden Lane
The New York Federal Reserve on Wednesday disclosed further details of the assets held as collateral for the central bank's loans to Bear Stearns, a now-defunct investment bank, and American International Group (AIG), a beleaguered insurer.