News
RBI profits soar
The Reserve Bank of India (RBI) has recorded growth of 182% in gross total income to Rs 75,348 crore ($18.4 billion) during 2006-07 from Rs 26,320 crore last year on the back of the sale of State Bank of India (SBI) shares.
New framework for supervision in Nigeria
The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) intend to introduce a comprehensive framework for banking supervision and have sent a draft to banks asking for their comments.
Bank-run claims "partially misleading": Bundesbank
The Bundesbank has said newspaper claims that Axel Weber, the president of the central bank, compared the current market turmoil to a classic bank run were "partially misleading".
Strauss-Kahn and Tosovsky vie for top IMF job
Dominique Strauss-Kahn, the former French finance minister, and Josef Tosovsky, the head of the Financial Stability Institute, are the only two candidates for the top job at the International Monetary Fund (IMF).
Gambia holds rates at 15%
The Central Bank of the Gambia said that an increase in food prices meant that it had to keep its benchmark rediscount rate at 15%.
Paramonova to leave Russian central bank
Tatiana Paramonova, first deputy chairman of the Central Bank of Russia (CBR), is to quit her office in September.
Bernanke keeps markets guessing
In a wide-ranging review of the causes of the turbulence in financial markets and the role of housing finance in triggering it, Ben Bernanke, the chairman of the Federal Reserve, committed the Fed to take action as needed to promote financial stability.
Australia announces ATM reforms
The Reserve Bank of Australia said it will introduce reforms that will give the public more information on the cost of using ATMs.
Parliament reads Singapore CB bill
The Parliament of Singapore conducted its first reading of the Monetary Authority of Singapore (MAS) Bill on 27 August.
Barclays revealed as BofE borrower
Barclays, a commercial bank, said Thursday that it was the bank that borrowed £1.6 billion ($3.2 billion) from the Bank of England's standing facility.
Ryback moves to Korean regulator
William Ryback, the former deputy chief executive of the Hong Kong Monetary Authority, is to join the Financial Supervisory Service (FSS), Korea's market regulator.
Trichet absent from Jackson Hole talks
Jean-Claude Trichet, the president of the European Central Bank (ECB), will not attend the Federal Reserve's Jackson Hole conference.
BofE lends £1.6 billion from standing facility
The Bank of England said that a commercial bank borrowed £1.6 billion on Wednesday through the Bank's standing facility, which charges 100 basis points more than the base rate.
Close call on Czech rate decision
The Czech National Bank's monetary policy board voted 4-3 in favour of a quarter-point rate hike on Thursday. The increase raises the benchmark two-week repo rate to 3.25%.
ECB tender reveals illiquidity
The results of the European Central Bank's latest tender indicate conditions in the market for inter-bank lending are still far from normal.
Nigeria halts currency redenomination
The Central Bank of Nigeria has suspended its redenomination of the Naira at the request of the country's president, Alhaji Umaru Musa Yar'Adua.
Japan unaffected by Fed decision says Mizuno
Atsuki Mizuno, a member of the Bank of Japan's monetary policy board, said Thursday a Federal Reserve rate cut would not stop a possible Japanese hike.
Europe's IMF domination to end with Strauss-Kahn?
Jean-Claude Juncker, the prime minister of Luxembourg, has said that Dominique Strauss-Kahn, the EU's nominee to head the International Monetary Fund (IMF), will be the last managing director to come from the EU for the "foreseeable future".
Estonia delays euro entry
The Bank of Estonia has said that Estonia would not meet EU criteria for eurozone accession in the years 2008-2009 and thus would not be able to adopt the common currency in 2010.
Thailand holds rates
The Bank of Thailand decided Wednesday to keep its benchmark interest rate, the one day repurchase rate, at 3.25%.
Poland increases rates
The National Bank of Poland decided Wednesday to hike interest rates by a quarter despite inflation remaining below the central bank's target rate. The benchmark reference rate is now 4.75%.
Government bond liquidity key - Swiss banker
"A liquid market for government bonds is a great advantage for the functioning of financial markets and for an efficient monetary policy," Swiss National Bank board member Thomas Jordan argued on Tuesday.
Russia piles on pressure for Tosovsky
Aleksei Mozhin, Russia's executive director at the International Monetary Fund (IMF), reiterated his country's support for Josef Tosovsky to head the organisation.
Iranian governor resigns
Ebrahim Sheibani, the governor of the Central Bank of the Islamic Republic of Iran, has resigned.