News
China cuts reserve ratio again
People’s Bank of China knocks 50bp off the reserve requirement for the country’s largest banks; policy to remain “prudent” says central bank
Bank of Korea announces new policy board members: reports
Reports say Park Won-shik, a deputy governor at the Bank of Korea, is the first new member of the monetary policy board; several more to come
Central bankers attend Financial Action Task Force meeting
Central bankers from many of the 136 member countries of FATF share thoughts on combating money laundering
European Commission to propose regulation on CSDs
European Commission announces new rules targeting central securities depositories to be released in March; wants to ensure securities transactions are settled in a “safe and timely manner”
Australia set to formalise payment system mishap reporting
Reserve Bank of Australia announces intention to establish strict rules on informing the central bank of operational incidents in retail payments systems; launches consultation process
SNB bank council president will not stand for re-election
Bank council president Hansueli Raggenbass announces he will not stand for re-election at the end of his term of office
Riksbank governor awarded King's medal
Stefan Ingves becomes fifth Riksbank governor to be given the King’s Medal; honour awarded for “outstanding contributions in the financial sector”
Central Bank of Ireland announces joint fellowship with Bruegel
Irish central bank announces joint fellowship with think-tank Bruegel; experienced candidates sought for research project
Nazis “destroyed confidence” in BoE notes with expert counterfeits
MI5 report from 1945 says Nazis destroyed confidence in British banknotes; produced counterfeits of such high quality it was “impossible” for a lay person to tell them from the real thing
Central banks bought close to 440 tonnes of gold in 2011
World Gold Council unveils report showing large central bank gold purchases in 2011; emerging economies lead the way in rebalancing their reserves to include more of the precious metal
Fed official reports on success of dollar swap lines
Steven Kamin, director of the Division of International Finance at the Fed, tells Senate committee currency swap lines have helped ease dollar funding market; stresses agreements are risk-free
Ukrainian central bank signs agreement with banking association
National Bank of Ukraine agrees to deeper co-operation with Independent Banking Association of Ukraine; two bodies sign memorandum of partnership and co-operation
China prepares for an ‘arduous’ year
Task of maintaining financial stability will be ‘arduous’ in 2012, says People’s Bank of China deputy governor; focus will be on risks from regional banks and non-banking institutions
Zoellick to leave World Bank in June
World Bank president Robert Zoellick announces decision to step down this year; IMF’s Lagarde says he has served the international community with “great distinction”
Basel DVA capital deduction could cost banks billions
Billions of dollars in capital could be excluded under Basel proposals on derivatives DVA - with US banks hardest hit
Parliamentary committee calls for Kenyan governor to resign
Parliamentary Select Committee finds governor's "conduct and behaviour incompatible with the holder of the office of governor of the Central Bank of Kenya"; calls for resignation
Sepa end-date set in stone following final vote
European Parliament passes legislation imposing a February 1, 2014 deadline for migration to Single Euro Payments Area after regulation receives overwhelming support of MEPs in Brussels
US Treasury clarifies sanctions on Central Bank of Iran
US issues detailed list of frequently asked questions; says assessment of which transactions fall under sanctions will be done on case-by-case basis
Governor of Central Bank of Nicaragua steps down
Rumours of a spat with the Nicaraguan president swirl as central bank governor quits; finance minister put forward to replace Antenor Rosales as chief
Vietnam receives first tranche of loan from Asian Development Bank
Asian Development Bank to plough $730 million into updating Vietnam's electricity supply system; first tranche of $121 million released
Philippines warns on fake commemorative banknotes
Central Bank of the Philippines denies issuing a 150 piso commemorative banknote; asks the pubic to report any information on the ‘fictitious’ notes to the authorities
Moody’s alters sovereign debt ratings of nine EU countries
Austria, France and the UK see outlooks on Aaa ratings changed to negative; Spain and five other countries’ ratings are downgraded
BoE’s King explains continuing high inflation
Mervyn King writes to chancellor of the exchequer explaining why inflation remains above target; despite 0.6% drop in rate since December, governor must offer reasons for missed target
Japan 'clarifies' monetary policy stance amid criticism
Bank of Japan again increases size of asset purchase programme and sets an inflation target; follows political pressure that Japan is sending the message deflation is acceptable