News
Japan holds rates as GDP drop leaves analysts unfazed
Bank of Japan to continue 'aggressive easing' as long as it judges it appropriate; analysts remain bullish despite fall in GDP last quarter
Fed’s Tarullo lays out regulatory priorities for 2013
Federal Reserve governor highlights a number of regulatory efforts planned for the coming year; says US is ahead of its peers in introducing a bank resolution framework
Hungarian governor publishes open letter in spat with audit office
András Simor publishes letter after state audit office 'transgresses its authority' in a study into monetary policy
Fed presidents back money market fund reform
Regional federal reserve bank presidents say money market fund reform needed to increase resilience and reduce susceptibility to runs, despite SEC objections
King insists economy must rebalance
Governor says Bank of England can still contribute to recovery but is running up an ‘ever steeper hill’; inflation report downbeat on growth and inflation prospects
SNB activates capital buffer in face of overheating mortgage market
Swiss National Bank applies 1% counter-cyclical capital buffer to mortgage lenders as imbalances in the real-estate market worsened in the second half of 2012
IMF issues reality check on European banking union
Researchers say it could take five years to fully implement banking union in Europe, and warn a piecemeal approach could actually make the situation worse
Bank of Lithuania swoops on troubled Ukio Bankas
Central bank suspends commercial bank’s operations after continual governance shortcomings
Constâncio sets out ECB's priority tasks in European banking union
European Central Bank vice-president aware of reputational risks from single supervisory mechanism; says ECB must work with EBA to develop a manual of supervisory practices
Yellen says forward guidance is ‘good news for workers’
Fed vice-chair says unemployment is predominantly cyclical and can be allayed by increasing aggregate demand; forward guidance will help Fed boost demand without compromising price stability
National supervisory risk guidance lags industry best practice, says FSB
Financial Stability Board report finds risk governance at some systemically important financial institutions exceeds supervisory guidance; demands more effort from developing economies
RBA offloads stake in scandal-hit Securency
Reserve Bank of Australia sells its shares in company embroiled in bribery scandal; central bank oversight of firm found to be appropriate
People: New deputies for New Zealand and Ukraine central banks
Reserve Bank of New Zealand hires top statistician as deputy governor; National Bank of Ukraine continues leadership team shake-up
Norway’s SWF buys US property for first time
East coast offices the latest purchase in pension fund’s real estate expansion; also reflects diversification away from European holdings
Buba’s Weidmann concerned by central bank politicisation
Bundesbank president says euro is not overvalued; finds Stiglitz comments on central bank independence 'concerning'
G-20 urged to address financial system flaws
Group of Thirty wants G-20 to act on conflicting financial services regulation, taxation and reporting rules; calls on Asian central banks to inject up to $4 trillion into diversified SWFs
Irish governor hopes SSM can avoid a 'nationalistic backlash'
Patrick Honohan sets out hopes and fears for a centralised regulator, warning incomplete implementation of banking union could result in 'divisive clashes'
Visco calls for powers to dismiss bank directors
Bank of Italy governor says the supervisory authority should have the power to remove senior management in banks from their posts
Eurosystem backs Barnier over Euribor submission
The Eurosystem supports Michel Barnier's desire for legal right to compel banks to participate in Euribor rate-setting; stresses need for private sector to lead rate overhaul
US politicians plot national impact study for Basel III
Basel III could face more delays in the US as legislators press for a national impact study
National Bank of Kazakhstan’s SWF seeks new fund managers
Central bank issues tenders for two managers to oversee portfolios worth $50-150 million each
Banks could be forced into Euribor submission
European Commissioner Michel Barnier says banks could be compelled to take part in rate-setting process under new legislation
ECB 'conflict of interest' puts effective supervisory mechanism at risk
The European Parliament's rapporteur on the SSM fears a conflict of interest inherent in the ECB stands in the way of creating an SSM that is up to the task
Stein says Fed could deploy monetary policy to cool credit markets
Jeremy Stein says imperfect regulatory tools may require monetary and macro-prudential policies to work in tandem if credit markets overheat, but spotting trouble is not straightforward