News
Tucker replaces Dudley as chairman of CPSS
Bank of England’s Paul Tucker to replace New York Fed’s William Dudley as head of international committee responsible for payments, clearing and settlements infrastructure
Former Venezuelan central banker joins board of commodities company
PetroMagdalena announces appointment of Central Bank of Venezuela veteran Nelson Ortiz as director
Dutch central bank warns on budget deficit
Netherlands Bank says “highest priority” is required for restructuring of Dutch public finances
South Africa must tackle capital flows ‘challenge’, says deputy governor
Sarb deputy governor says problems with capital flows in South Africa require “fresh thinking”; rand exchange rate fluctuations causing problems
China expands yuan cross-border settlement option to all exporters
People’s Bank of China permits all companies qualified for foreign trade activities to conduct international settlements in yuan, reports official Xinhua news agency
Ireland replaces credit institutions supervisor
Jonathan McMahon announces decision to return to the UK; Fiona Muldoon, director of insurance supervision to assume responsibility for the supervision of credit institutions
CB.com poll finds support for financial transaction tax
Survey sees 56% of voters support the introduction of a financial transaction tax in Europe
Turkey reveals new currency symbol
Turkish prime minister leads ceremony at the Central Bank of Turkey to unveil the new symbol for the lira
Swedish authorities lambast maximum harmonisation for Basel III
Swedish Finansinspektionen and the Riksbank hold first joint meeting on macroprudential policy matters; again take on EU proposals to fix capital adequacy requirements
EFSF gets go-ahead for collateral enhancement facility
Plan to restore worth to Greek bonds as collateral is authorised; two days after the European Central Bank was forced to stop accepting Greek bonds following downgrade
Volcker rule will not be ready for July, Fed chair admits
Expert predictions of delayed start date proven correct
Sri Lanka objects to ‘highly unwarranted’ downgrade
Central Bank of Sri Lanka unhappy with ratings alterations; issues lengthy statement objecting to the moves
BoE looking 'carefully' at banknote substrate choices
Chris Salmon, chief cashier at the Bank of England, says the possibility of polymer or hybrid substrate banknotes is being looked at by the central bank; no decision made yet
Bernanke laments 'modest' US recovery
Fed chairman describes mixed progress in US economic recovery; explains reasons for publishing statement of longer-run goals and policy strategy
Goodbye VAR? Basel to consider other risk metrics
Trading book review will look at replacing value-at-risk, but quants say the obvious alternative - expected shortfall - is not much better
European Central Bank lends $712 billion to banks
ECB doles out €529.5 billion in low interest loans; analysts raise concerns about how effective the second round of the LTRO will be and the market reaction
Chinese government hampering financial industry, World Bank warns
New World Bank report sees flaws in China's regulatory system
Regulators ignore data challenges at their peril, say CBJ authors
Standards-setters around the world seeking to improve financial stability are destined to fail unless they can get to grips with core data needs, according to the authors of a new Central Banking Journal article
UK’s Prudential Regulation Authority reveals approach to consultation
Bank of England and Financial Services Authority publish response to government’s request for details on how the Prudential Regulation Authority will consult with firms
Philippines confirms inflation target for 2012–14
Central Bank of the Philippines reveals government has fixed inflation target for 2012-14; target to remain the same as it was for the last three years
ECB rejects Greek bonds in reaction to rating cut
European Central Bank temporarily stops accepting Greek debt as collateral; move comes one day after rating agency drops country to a selective default rating
Central bank's credibility was vital to introducing minimum rate, says SNB’s Schlegel
The decision by the Swiss central bank to introduce a minimum rate to the euro last September was possible because of the SNB’s credibility, says the central bank’s head of foreign exchange and gold
New government member for Reserve Bank of India’s board
Following a legal amendment allowing the Indian government to appoint two members of the Reserve Bank of India’s board of directors, the latest appointment is made
Buba’s Weidmann defends German role in eurozone rescues
President of the Deutsche Bundesbank says criticising German authorities for their action, or lack of it, in helping struggling eurozone counterparts is “quite inappropriate”