News
Basel III will choke SMEs, say leading bankers
Sands, Ackermann emphasise need for policy that supports small and medium enterprises; reiterate calls for a level playing field under Basel III
QE2 criticisms “baffling”: King
Attacks on the Federal Open Market Committee’s latest round of asset purchases meet with scorn from Bank of England governor
Focus on trade rather than stimulus: business leaders to G20
International Chamber of Commerce honorary chair Victor Fung calls on G20 to focus on boosting international trade rather than monetary stimulus to raise growth; currency tensions expected to feature heavily at Seoul Summit
China lifts reserve ratio on fears over inflows
People’s Bank of China raises reserve requirements ratio by 50 basis points in bid to tackle inflationary pressure from capital inflows
King: rebalancing pivotal to Britain’s economic health
Bank of England governor says biggest risk to British growth is external demand; relatively unconcerned by housing market
No single structure for clearing industry: CPSS
Bank for International Settlements report on clearing industry says differences in market structures reflect diverse sets of risks to operations
Palestine launches new RTGS system
Palestine Monetary Authority Real-Time Gross Settlement system allows for developments in online and mobile banking
Quant Congress Europe: Basel III CVA charge political, says Swiss regulator
Finma official hits back at industry criticisms of counterparty risk charge, but concedes political pressure to hurt OTC market is undeniable
SF Fed plays down role of structural unemployment
San Francisco Federal Reserve note supports view that monetary policy can address high US unemployment
Boston Fed names new first vice president
Boston Federal Reserve appoints Federal Reserve Information Technology vice president Kenneth Montgomery as first vice president
UK FSA director of financial stability quits
Financial Services Authority's David Strachan will leave role in first quarter of next year; departure adds to growing list of senior figures leaving regulator
RBI reopens second liquidity line to prevent credit squeeze
Reserve Bank of India introduces second liquidity adjustment facility after growth in government savings absorbs liquidity in money markets
Fed's Fisher lambasts QE2
Dallas Fed president Richard Fisher claims QE2 will not create jobs, just spur speculation; comments highlight threats to Bernanke consensus when Fisher and others become FOMC voters in 2011
Ireland releases new governance rules
Central Bank of Ireland looks to stamp out poor boardroom practices at financial institutions
India’s PM backs QE2
Backing from Manmohan Singh follows attacks from other emerging markets
Debt restructuring framework for Europe essential: Deutsche Bank
Deutsche Bank co-head of European economic research Mark Wall says officials must create credible restructuring mechanism for eurozone sovereigns
RBI bans three banks over circular trading
Standard Chartered, Société Générale and Credit Agricole will be banned from proprietary trading in government bonds
Senators call for 'vigorous' enforcement of Volcker rule
Carl Levin and Jeff Merkley urge FSoc to follow “statutory intent” of rule to limit proprietary trading; define key terms and supervisory approach
Ron Paul set to renew bid to audit Fed
United States representative Ron Paul vows to audit Federal Reserve if he wins power of House subcommittee on monetary policy
Zhou, Meirelles attack QE2
Central Bank of Brazil president Henrique Meirelles and People's Bank of China governor Zhou Xiaochuan bash Federal Reserve’s latest stimulus programme
Risk USA: Paulson refused to save Lehman over 'bailout guy' characterisation
Former White House economist details civil war between Bush administration and US Treasury
Fund nears the end of gold sales
IMF has sold majority of the gold set aside for disposal; analysts expect Fund will complete sales by end of the year
FSB opens up to non-members with outreach proposal
Financial Stability Board to set up regional consultative groups to give non-members a presence in regulatory debate; move goes only half the way to correcting imbalance, DIFC chief economist says
New Fed office to aid stability, macroprudential efforts
Federal Reserve sets up financial stability policy office to coordinate institution-wide analysis on stability risks; J. Nellie Liang named director of office