News
King called for global bailout in March 2008: WikiLeak
Bank of England governor told US ambassador of need for nations to cooperate in order to recapitalise banking sector
Fed writes rule to expand consumer protection
Federal Reserve proposes two rules to improve consumer protection, based on financial regulatory reform law; move part of broader rulemaking process that will turn to bank capital, leverage laws
Bank of Korea siphons $3 billion into SWF: reports
Korean central bank to place additional $3 billion in care of sovereign wealth fund, according to reports
Brazil unveils first of new family of banknotes
Central Bank of Brazil releases second generation of R50 and R100 notes
Cobbold confirmed as De La Rue CEO
Tim Cobbold named banknote manufacturer’s new chief executive
Nigeria stands by Sanusi’s government barbs
Central Bank of Nigeria maintains governor Sanusi Lamido Sanusi’s assertion that legislative branch absorbs quarter of all government overheads; comments spark anger from politicians
Map of interbank market first step in project to forecast crises
Study to forecast the tipping points where banking crises have systemic implications begins with topology of European interbank market
QE2 hopes reflected in dollar, risk reversal trends: BIS
Bank for International Settlements’ December Quarterly Review charts effects of QE2 anticipation, eurozone sovereign debt woes, in fourth quarter
Barnier draws UK lawmakers’ fire over new European supervisory structure
UK parliamentarians cross-examine European Commissioner for internal market regulation Michel Barnier on how much power new European supervisory authorities will have over national regulators
Sants details new regulator’s approach
UK FSA’s Hector Sants says primary objective of new banking regulator will be to resolve failed institutions without disrupting financial system; outlines new risk model
European banks could get slightly different version of Basel III: Basel Committee’s Wellink
Netherlands Bank governor and Basel Committee on Banking Supervision chairman Nout Wellink says “minor changes” possible to European version of Basel III
‘End the Fed’ author to lead congressional Fed oversight group
US congressman Ron Paul appointed chair of monetary policy subgroup in influential lower house financial committee; appointment could spark intense scrutiny of Federal Reserve
Italy’s Draghi: eurozone governments must step up
Bank of Italy governor Mario Draghi looks to eurozone governments to tackle fundamental issues; stresses ECB will not dabble in fiscal arena, echoing president Jean-Claude Trichet
Ex-Philippines governor named US ambassador
Central Bank of the Philippines’ former governor Jose Cuisia Jr. selected as country’s ambassador to the United States
ECB points to securitisation, interest rate risk concerns
European Central Bank’s December Financial Stability Review stresses importance of more transparency in asset-backed securities market; highlights interest rate risk worries
European Commission floats concept of investment bans in latest Mifid consultation
The European Commission has produced a consultation paper that suggests a basis for banning certain investments, with structured products making their usual appearance in the limelight
ECB repos, not bond purchases best fix for debt woes: Deutsche Bank note
Deutsche Bank paper moots the use of targeted long-term repurchases to shore up peripheral bond markets, rather than more outright purchases
Electronic methods leading growth of cashless payments in the US, says Fed study
Federal Reserve study shows number of cashless payments has grown, with debit card, automated clearinghouse transactions leading the way
Britain raises bank levy
UK government publishes final bank tax law that will raise the levy on liabilities higher than initial proposals set out in June
Atlanta Fed names new second in command
Retirement of Atlanta Federal Reserve first vice-president Patrick Barron sparks reshuffle in retail payments office
Fitch kicks three more notches off Ireland
Irish sovereign debt downgraded to BBB+ by ratings agency Fitch
Sarb, investors draw a line under dispute
South African Reserve Bank's first ordinary general meeting under amended law passes without shareholder dissent; governor Gill Marcus says outreach to shareholders will be expanded
ECB's Constâncio heralds dawn of Seoul consensus
European Central Bank’s Vítor Constâncio says state intervention during banking crisis marked end of Washington consensus; vice president heralds dawn of Seoul consensus
CDSs did not hike eurozone states’ funding costs: European Commission report
European Commission taskforce finds credit default swaps were not responsible for inflating eurozone members’ funding costs, worsening crisis