News
Central Bank of Myanmar to build capital markets with help from Japan
The Central Bank of Myanmar has teamed up with the Daiwa Institute of Research and Tokyo Stock Exchange to establish a capital market and securities exchange in the country by 2015
ECB calls for comments on payments system security recommendations
Public consultation opens on payments system recommendations from European Forum on the Security of Retail Payments; changes relate to areas of concern regarding internet payments
Renminbi could be adopted into SDR by 2015, says CentralBanking.com panellist
Latest Central Banking On Air debate asks if reserve mangers should invest more in emerging markets; panellists believe renminbi will be adopted as part of SDR with just the timescale in question
FSB reports ‘solid’ progress on financial regulatory reforms
FSB chairman Mark Carney gives update to G-20 finance ministers and central bank governors; new reports cover D-Sibs and the sensitivities of harnessing the power of shadow banking
IMF resources set to rise by $430 billion
IMF to receive up to $430 billion in additional funding; fund stresses resources are “not earmarked” for any region in particular
Shirakawa pays respects to former Bank of Japan governor
Masaaki Shirakawa remembers former governor Yasushi Mieno who passed away in April; calls him a man of “courage and thoughtfulness”
Fed names academics on 2012 model validation council
US Federal Reserve names academic economists that will provide independent advice regarding models used in annual stress test of major banks and financial institutions
Praet places onus on governments to resolve sovereign debt crisis
ECB executive director and de facto chief economist says it is up to governments to resolve the sovereign debt crisis in the eurozone; says some progress is being made
Riksbank revamps website to target iPad and iPhone users
Desire to improve accessibility of site and to make content available to tablet and mobile phone users behind Swedish central bank’s decision to overhaul website
Central banks are now ‘market makers of last resort’, says Fischer
Bank of Israel governor Stanley Fischer says central bankers have learnt a lot about the liquidity trap and expansionary monetary policy since the advent of the global financial crisis; explains thinking behind Israel’s rate rise in July 2009
Video: Bank of Mexico’s Duclaud says new rules will hit sterilisation costs
Javier Duclaud explains Mexico’s problems in 2008, why the country has increased reserves by $70 billion and how Dodd-Frank and Basel III are causing sterilisation problems for central banks
IMF sounds warning over European deleveraging
Lagarde hopes to ‘significantly’ increase resources available to the IMF during spring meeting; Financial Stability Report also recognises need for increased firewall as deleveraging rages on in Europe
Brazil slashes benchmark rate again
Central Bank of Brazil again cuts benchmark rate by 75 basis points; new 9% rate close to country’s all-time low rate
Iranian central bank escapes Swiss sanctions
Swiss authorities stop short of freezing assets of Central Bank of the Islamic Republic of Iran; note the institution's importance to the country's economy in reaching the decision
BoE's Tucker: FPC capital powers 'won't be popular'
Attendees at ACT conference raise concerns about increased lending costs after Bank of England’s Tucker argues for powers to raise sectoral capital levels
Bank of Lithuania warns of stained banknotes after ATM theft
Bank of Lithuania advises against accepting banknotes stained with ink; fears raised that such notes could be result of ATM theft in the country
Bank of Canada strikes positive note in policy report
Latest Monetary Policy Report from the Bank of Canada sets out better than expected economic momentum; inflation risks balanced and stimulus withdrawal ‘may become appropriate’ says report
City’s top brass throws weight behind London RMB initiative
London will become the next offshore centre for RMB trading, vows UK chancellor George Osborne; BoE's Bailey supportive of initiative
Spain's Ordóñez renews call for government action
Bank of Spain governor urges government to stick to target of reducing budget deficit to 5.3% in 2012; highlights work done on banking reform
SNB unveils new governing board
Swiss National Bank confirms Thomas Jordan as chairman of the governing board; plans for stricter rules governing private financial transactions by SNB staff are also revealed
BoE’s Posen causes stir with vote switch
External MPC member abandons pro-QE stance; inflation concerns high among rate-setters, with Paul Tucker taking vocal lead
India slashes benchmark rate
Reserve Bank of India drops repo rate to 8% in first cut in years; governor references slowing growth and declining inflation in announcing decision
Hoenig joins FDIC board
Former Kansas City Fed president Thomas Hoenig joins the board of the Federal Deposit Insurance Corporation
Norway set to shift investment strategy after poor SWF performance
Norway sovereign wealth fund to focus on emerging markets following third-worst performance in history last year