News
Basel liquidity rules hit fresh objections
A reworking of part of the liquidity coverage ratio is rejected by the Basel Committee
Senate confirms two out of three Fed directors
Last-minute deal seats Yellen and Raskin, Diamond turned down
Basel II grievances stir transatlantic tensions on new accord
BNP Paribas chairman Michel Pébereau slams United States’ failure to implement Basel II across the board; says Basel III will unfairly impair Europe
Trinidad and Tobago’s central bank faces legal action over bankrupt insurance giant
Disgruntled policyholders of failed insurance giant Clico demand compensation from Central Bank of Trinidad and Tobago over what they see as deficiencies in oversight
Weber, Blankfein praise Basel III leverage cap
Bundesbank president Axel Weber and Goldman Sachs chairman Lloyd Blankfein laud Basel III’s inclusion of leverage ratio, as opposition mounts
OECD reappoints Gurría as secretary-general
Angel Gurría commits to second term as secretary-general at Organisation for Economic Cooperation and Development
Hungary’s Simor asks for independence to be written in statute: reports
National Bank of Hungary governor András Simor reportedly asks lawmakers to put central bank independence in constitution as controversial pay cut takes effect
Australia adds financial stability to monetary policy mandate
Australian government amends Reserve Bank of Australia’s monetary policy remit to include financial stability
Meirelles flags travails of financial reform
Central Bank of Brazil governor Henrique Meirelles says reform must be unified; Chinese, Indian ambassadors note shortcomings of G20
Ireland reveals fresh Anglo Irish bailout
Central Bank of Ireland outlines new restructuring for Anglo Irish Bank, finance minister acknowledges cost of bailout prevents government from meeting deficit cuts for year
No alternative to bail-in capital: Bank's Tucker
Bank of England's Paul Tucker attacks bankers' concerns that bail-in capital will rattle investors; Sweden's Ingves says conversions achievable
Extend 'systemic importance' to countries: Brazil's Meirelles
Central Bank of Brazil governor Henrique Meirelles calls for concept of systemic importance to be extended to countries; panellists broach challenges posed by central counterparties
Basel III could distort monetary policy: ECB’s Bini Smaghi warns
European Central Bank executive board member Lorenzo Bini Smaghi says Basel III may have unintended consequences on monetary policy
CNB creates stability wing in bid to beef up systemic oversight
Czech National Bank separates financial stability and economic research department; says independent department move will enhance financial stability mandate
Look to markets for head supervisors: De Larosière
Jacques de Larosière says heads of new European Supervisory Authorities should think like market participants and have their respect
Central bankers, politicians splinter on reach of ESRB
Weber, Constâncio specify limits of European Systemic Risk Board's authority over national regulators; politicians advocate one unified European stand
China opens up secondary loan market in bid to reduce systemic risk
China has further liberalised its interbank market to let banks transfer loans to each other
FDIC seeks to raise standards of securitised assets
Federal Deposit Insurance Corporation approves final rule requiring banks to hold 5% of securitised assets on their balance sheet
Bank’s Posen makes case for further stimulus
Bank of England Monetary Policy Committee member Adam Posen advocates use of more “monetary action” to stimulate economy
IMF makes FSAPs compulsory
Fund says 25 countries with systemically important financial sectors will be required to undergo check-ups every five years
Bank of Thailand opens shop in China
People's Bank of China says Bank of Thailand's new representative office in Beijing will aid cooperation
Bernanke charts new course for Fed economics
Federal Reserve chairman Ben Bernanke suggests research must veer away from assumptions based on classical paradigm; stresses models must better capture irregular behaviour
Nigeria limits state bond holdings; cleans up microfinance
Central Bank of Nigeria places limits on banks’ holding of state government bonds; revokes over a quarter of microfinance licences after serious problems revealed in sector
Fed’s Plosser calls for rules for crisis-fighting measures
Philadelphia Federal Reserve president Charles Plosser says Fed risks undermining its credibility if it does not provide clear policy rules for the exceptional policy measures seen during the crisis