News
Venezuela begins gold repatriation
First shipment of Venezuelan gold reserves made; central bank says uncertainty in Europe was a factor in the decision to move the precious metal
Bank of England sets out code of practice on electronic trading
Members of the FX Joint Standing Committee comment on the recently reviewed Nips code, which includes a new section on electronic trading
France confirms Cœuré as ECB nominee
Finance ministry puts Benoît Cœuré forward as nominee to replace Bini Smaghi on European Central Bank’s executive board; firm favourite choice confirmed
FSA’s Bailey calls on banks to plan for eurozone break-up
Banks must prepare for the "disorderly departure of some countries from the eurozone", says Andrew Bailey
Sweden sets higher capital buffers for big banks
Swedish authorities say capital buffers of country’s largest banks will be raised to 10% of risk-weighted assets by 2013, swelling to 12% in 2015
Ex-MPC member says BoE wrong to delay on QE
Former Bank of England external member Sushil Wadhwani disagrees with current rate-setter Martin Weale over when to provide additional stimulus to UK economy
Swaziland trains Revenue Authority cash collectors
Officers shown security features of banknotes introduced last year; participants travelled from all over the country to attend the training
Greek central bank issues government with ultimatum
Bank of Greece tells newly formed government that unless structural reforms are implemented on schedule, Greece risks being thrown out of the eurozone
ECB offers CSDs financial incentives for early T2S adoption
European Central Bank offers central securities depositories (CSDs) financial incentives to sign up to T2S early; governing council gives CSDs until the end of April to agree
National Bank of Hungary takes swipe at government
Central bank rejects cabinet selection of official to attend meetings on foreign currency loan problems in Hungary; sign of continued poor relationship
Banque de France outsources collateral management
French central bank agrees collateral management deal with Euroclear France; entire French banking community will use new system next year
Yields soar as Portugal is downgraded
Ten-year yield on Portuguese debt rises sharply as Fitch downgrades Portugal's credit rating to junk status, sparking renewed concerns over the sustainability of the sovereign
Commission unveils contentious Eurobond proposals
European Commission unveils three options for Eurobonds in bid to restore stability in Europe; analysts say the measures are politically unviable and ineffective
Weak demand adds pressure on Bank of England
Bank of England Monetary Policy Committee minutes shows all members voted to hold rates despite growing signs of declining demand from UK households
FOMC disagrees over monetary policy strategy
Federal Open Market Committee discusses alternative monetary policy strategies; committee disagrees over setting a “longer-run inflation goal”
Barbados calms public fears over 'counterfeit' banknotes
The Central Bank of Barbados reassures public that notes dated 2007 but bearing the signature of the current governor are genuine; statement in response to several queries
Delawari nominated as governor in Afghanistan
Afghan president Hamid Karzai proposes reappointment of Noorullah Delawari as governor of Bank of Afghanistan; last governor fled the country in fear of life
UK Royal Mint unveils Olympic kilo coins
Royal Mint reveals design of first ever coins weighing one kilo; collectors' items designed by esteemed British artists
Austria pushes ahead with Basel III
National Bank of Austria announces plans to require banking groups to comply immediately with Basel III's higher capital requirements; sets restrictions on loan issuance
China and Hong Kong double currency swap agreement
Hong Kong and China double currency swap arrangement; Hong Kong pushes to remain number one offshore renminbi business centre while China proceeds with internationalisation of renminbi
Sarb’s Marcus laments ‘new phase’ in eurozone crisis
Latest South African Reserve Bank Monetary Policy Review shows rising inflation and hesitant domestic economic recovery; governor Gill Marcus shares concerns as eurozone crisis rumbles on
UK financial system faces severe sovereign risks: BoE survey
Bank of England Systemic Risk Survey shows risk managers believe probability of high-impact event in the UK financial system has increased sharply in 2011
Hungary seeks assistance from IMF
Hungarian government requests financial assistance from the International Monetary Fund in what has been dubbed a "new type of co-operation"
Iran appoints first female deputy governor
Iranian central bank governor appoints woman as deputy governor; takes on role of trying to stabilise fluctuating currency market in the country as sanctions are discussed worldwide