News
Yellen wins Senate committee approval
US Senate Banking Committee backs Janet Yellen as the next Federal Reserve chair; latest FOMC minutes reveal support for a cut in the interest rate the Fed pays on excess reserves
Israeli annual report for bank customers could be first step to reduce transparency 'knowledge gap'
Bank of Israel supervisor pushes for banks to provide customers with tailored yearly reports; UK consultancy says future lies in 'single online portal' for all financial products
OECD’s White says ECB supervision is back to front
William White says ECB should be managing the current crisis rather than trying to prevent the next one; warns that the global economy remains vulnerable, partly because of central bank actions
Yellen wins over key sceptic in bid for Fed confirmation
Republican senator and noted opponent of doveish monetary policy says he will vote for Janet Yellen to lead the Fed based on her commitment to transparency and ‘rules-based' monetary policy
ECB gives Nouy the nod for SSM chair, but Mersch is no 'shoo-in' for deputy
ECB nominates top French regulator to head up SSM; responds to concerns that key decisions will be taken before chair is in place, but Sharon Bowles says questions remain for Draghi
ECB launches public consultation on mobile payments security recommendations
The governing council of the ECB asks market participants to comment on draft recommendations intended to make mobile payments more secure; interested parties have until January 31 to weigh in
BoE’s Salmon says Bitcoin won't be 'final word' in digital currencies
Bank of England chief cashier says 'innovative' Bitcoin could in future be superseded by central banks' own digital currencies
Departing Bernanke takes stock of Fed's unprecedented actions
Federal Reserve chairman discusses the ups and downs of the bank's asset purchases and attempt to guide market expectations; admits shortcomings but maintains policies are warranted
OECD joins calls for eurozone QE
Organisation says ECB should consider ‘institutional changes' to allow it to buy corporate and sovereign bonds; suggests a timetable for US taper
IMF plucks chief economist from Central Bank of Ireland
Lars Frisell is leaving the Central Bank of Ireland after less than two years as its chief economist to take an unspecified post at the IMF; search begins for his successor
New Argentine governor unlikely to press for independence
Latest central bank chief expected to be subordinate to new economy minister, who believes the central bank has a major role to play in boosting economic growth and investment
Fed presidents push for macro-prudential rethink
Eric Rosengren joins chorus for simpler Basel III capital requirements, while Narayana Kocherlakota says regulators ought to be paying more attention to the measurement of too-big-to-fail effects
ECB cut prompts record FX intervention in Serbia
Central bank expresses ‘firm and prudent’ resolve to lean against capital flows resulting from ECB rate cut, but eschews a fixed exchange rate
Bank of Spain puts 'revolving door' under review
Javier Priego, the Bank of Spain’s general secretariat, is reassessing the rules governing central bank employees after they leave the institution
People: Tim Geithner moves to Warburg Pincus; BNM deputy re-appointed
Former Treasury secretary and New York Fed head Timothy Geithner takes a job in private equity; Malaysia re-appoints deputy to three-year term; two new directors at Dallas Fed
Malaysia central bank opens office in Beijing
BNM's newly established presence reflects growing trade and financial ties with China; governor also reveals new renminbi liquidity facility and MoU to establish cross-border collateral arrangements
Emerging markets will 'suffer' as QE ends, say panellists
Guillermo Calvo, Vittorio Corbo and Maurice Obstfeld say emerging markets face a bumpy landing when Fed winds down QE, and some are better prepared than others
Crisis showed need for ‘more and better' stats, says IMF
Forum on improving statistics held in Washington in the same week as Myanmar joined the GDDS initiative; Argentina remains in the doghouse over inadequate GDP and inflation data
BoE economists build model to assess CCP backstop
Bank of England financial stability paper presents a ‘top-down’ statistical model for assessing the risk CCPs are exposed to, and the likely adequacy of their default resources
Moody's says big US banks no longer ‘too big to fail'
Agency cuts ratings of four systemically important US banks, including Goldman Sachs and JP Morgan, as Dodd-Frank believed to reduce prospects of future government bailouts
Irish central bank to track 'hostile' social media comments
The Central Bank of Ireland is looking for an online platform that will keep tabs on the general public’s social media conversations and flag up consumer complaints
Yellen defends QE in congressional confirmation hearing
Prospective Fed chair says asset purchases have had ‘meaningful' impact on financial wellbeing of normal Americans; hints at further banking regulations ‘down the line'
Reserve managers diversifying due to rise in risk, not a search for return, say CBP panellists
Central bank reserve managers are moving into new assets due to concerns about rising risks in traditional currencies, rather than in a search for yield, say Central Banking On Air panellists
Bundesbank warns on ‘moral hazard' from low interest rate environment
Bundesbank's latest annual financial stability report fears insurance companies and banks are losing out in the low interest rate environment; deputy says ‘primary law' must change for SRM to work