News
Draghi defends sovereignty in an economic union
President of the European Central Bank discusses future of economic union in the eurozone; hints at more stimulus
UK plans joint BoE-government funding scheme
Mervyn King announces 'funding for lending' scheme for banks; stresses full support from government is necessary
‘Not clear’ China wants renminbi to rival dollar, says CIC’s Lau
China is pushing for the renminbi to be used more widely in commerce and finance but it is unclear if Beijing wants its currency to rival the US dollar and euro, says CIC’s Lawrence Lau
HKMA unveils new phase of cross-border settlement platform
Hong Kong and Malaysian central banks to add cross-border collateral management service to settlement platform to promote growth in 'underdeveloped' Asian repo markets
SNB’s Jordan rules out sovereign wealth fund creation
Thomas Jordan reaffirms commitment to currency peg; blasts idea of establishing a sovereign wealth fund with the SNB’s foreign currency holdings
JP Morgan loss was bungled attempt to cut Basel III RWAs, says Dimon
Loss-making unit's RWAs would have tripled under Basel III, JP Morgan chief executive says - but attempting to cut capital burden made its hedges more complex
UK banks must remain under national supervision, says Lloyds chief
Lloyds Banking Group chairman says it is 'crucial' UK banks remain under national supervision; calls for more forward-looking regulation
Fed’s Tarullo calls for prompt action to regulate shadow banking
Fed board member Daniel Tarullo sets out 'more or less immediate' steps that should be taken towards regulating the shadow banking sector
Ukraine issues commemorative Euro 2012 coins
National Bank of Ukraine reveals commemorative coins dedicated to the European Football Championship 2012; first ever half-kilo gold coin forms part of the series
FSA’s Sants airs fears of overburdened BoE governor
Hector Sants says operational tasks handed to Bank of England governor under recent reforms could be “too great”; slams government and BoE for not listening to advice concerning Northern Rock collapse
Hildebrand settles at BlackRock
Former Swiss National Bank governor takes job as vice-chairman at BlackRock; joins in October to advise the firm’s largest institutional clients in the EMEA and Asia-Pacific regions
RBA ends 'excessive' card surcharges
Australian central bank publishes final reforms for surcharging standards for payments by credit and debit card in the country; allows “reasonable” charges to continue
Japanese prime minister nominates new rate-setters
Two new board members put forward by Yoshihiko Noda; nominations need approval by both houses of the Japanese parliament
Bank of Uganda awaits confirmation of four board members
The terms of four out of six members of the Bank of Uganda’s Board expired in June; no word yet on replacements
Zeti stresses importance of training in improving bank governance
Governor of Bank Negara Malaysia says training for directors of financial institutions is an effective method of promoting financial stability; praises FIDE programme’s role in achieving this
Bank of Italy’s Tarantola set to run state media company
Bank of Italy’s Anna Maria Tarantola nominated to head state media company RAI; no move yet to replace her on central bank’s governing board
Bank of Spain deputy governor resigns
Francisco Javier Aríztegui resigns as Bank of Spain deputy governor; Fernando Restoy Lozano named as replacement
Posen calls on BoE to go beyond gilt purchases
External MPC member urges purchase of assets other than government bonds; suggests creation of a Fannie Mae-type entity in the UK
Maltese governor involved in ‘minor incident’ in Libya
Governor of the Central Bank of Malta pays visit to Central Bank of Libya; involved in a “minor incident” while travelling from the airport into Tripoli
PBoC hires banker as deputy governor
Top executive leaves Agricultural Bank of China to become deputy governor at the People’s Bank of China; brings total number of deputy governors to four
Bundesbank raises 2012 growth prediction
German central bank records marginally more positive growth expectation for the economy this year; still harbours significant concerns on key issues such as unemployment
PBoC cuts rates and moves to address ‘informal lending’
People’s Bank of China surprises many observers with 25bp cut in benchmark rates; moves to ease banking restrictions on lending in China
FSB proposes future legal entity identifier system
Financial Stability Board releases report on implementing a global legal entity identifier system for the financial sector; wants system to be independently functional by March 2013
Riksbank reveals details of new currency series release
Release dates for updated banknotes and coins revealed by Riksbank; first new banknotes will enter circulation in October 2015