News
GCC states need to jettison ‘destabilising' US-dollar pegs, says Qatar's Al Khater
Oil-rich Gulf states should peg currencies to crawling trade-weighted baskets as US demand becomes less of a factor in driving oil prices, says Qatari central banker
Hungarian easing shows no sign of abating
Central Bank of Hungary reduces its key policy rate for the fifteenth time in as many months, and says ‘further cautious easing’ could follow
ECB seeks head lawyer who is ‘resilient to overwork’
Employment law expert says the European Central Bank’s criterion for its next director-general of legal services is a 'concerning pre-condition to employment'
Slovene bank clean-up provides stress test dry run for ECB
IMF urges country to recapitalise banks quickly; academics see country as 'methodology experiment' for ECB, and warn comparisons with Greece and Cyprus could be self-fulfilling prophecies
Riksbank reveals location of gold holdings
Three-quarters of the Swedish central bank's gold reserves are held in the UK and Canada; disclosure follows discussions with other central banks on confidentiality
Gunmen steal $53m from Central Bank of Libya
Armed men overpower guards and steal millions of dollars from cash truck en route to central bank in Sirte
Danish central bank to cut workforce by 10%
National Bank of Denmark to lay off 55 employees as it adjusts to post-crisis environment and introduces new IT system that makes some jobs obsolete
RBI takes hawkish stance against inflation with another rate hike
Repo rate hike and MSF rate cut bring spread back to its normal level of 100 basis points; ‘material' risk of entrenched inflation could mean another hike is on the way, says DBS economist
Central Bank of UAE set to bolster ‘under-developed' local bond market
UAE has looked to economies with strong trade balances as role-models to help develop a domestic bond market; may issue government debt in the coming years
Banque de France backs efforts to circumvent ratings agencies
Central bank gives scathing assessment of credit ratings agencies and supports Esma proposals to reduce reliance on ratings; Moody’s and S&P critical of the plans
Group of 30 calls for closer relationships between bank boards and supervisors
Report authored by a G-30 committee headed by Roger Farmer argues for a ‘new paradigm' in which bank boards and supervisors work more closely together towards their shared objectives
NY Fed's Checki to retire; Minneapolis hires new head of research
New York Fed head of international affairs ends 46-year tenure, while acting communications head wins permanent post; Minneapolis Fed names new research director
State Bank of Vietnam taps Thomson Reuters for FX monitoring system
Vietnam's central bank takes a step forward in increasing transparency and reporting in its foreign exchange market
RBA and government set out rules of engagement
Update to ‘statement on the conduct of monetary policy' says Australian government recognises the Reserve Bank's need for a strong balance sheet; RBA will pay no dividend to the government this year
Fed targets tougher LCR for US banks
Federal Reserve proposes a liquidity coverage ratio for country’s largest financial institutions that goes above and beyond the Basel III minimums
Demoted Myanmar governor ‘allowed' to quit central bank
Former governor was replaced in July by his predecessor, and made one of three vice-governors; he has now been ‘allowed to resign of his own volition', according to the presidency
FDIC inks MoU with China on bank resolution
The document, signed in Beijing yesterday, seeks to improve collaboration on resolution planning through the exchange of information and co-operation on risk monitoring
Carney says BoE 'open for business' ahead of QE wind-down
Extra money for more types of collateral to be made available over longer tenors and at cheaper prices, in a bid to prepare UK banks for the end of QE; facilities could also be opened to non-banks
Cyprus governor hits back over reports of bank re-cap ‘success fee'
Panicos Demetriades says fresh reports refer to confidential documents that have been unlawfully leaked; says central bank will not pay fees based on size of failed banks' recapitalisations
RBI and industry disagree over interest rate futures launch
Secret consultation on introducing interest rate futures in India finds disagreement between industry and regulators over the nature of the underlying bonds
Cœuré concerned over 'big bang’ payments migration
ECB says many member states are planning to migrate to the Single Euro Payments Area in the last quarter of the year; Benoît Cœuré points to operational risks of leaving it to the last minute
ECB unveils three-pronged comprehensive assessment
European Central Bank reveals the methodology behind the risk assessment, asset quality review and stress test it will use to scrutinise the eurozone’s largest banks over the next year
OECD tells Brazilian government to stay quiet on interest rate policy
New report urges government to stop commenting on future trajectory of interest rates, and set fixed terms for MPC members ‘during which they cannot be dismissed'
Australian government pours $8.5bn into RBA's reserves
New Australian government blames dwindling reserves on predecessor's demand for ‘extraordinary' dividends; records show losses were incurred due to currency movements in 2010–11