News
EU backs pledge to fill IMF coffers to $500bn
The International Monetary Fund (IMF) needs to bolster its lending capacity to $500 billion, leaders of Europe's biggest economies have said. The move comes amid concern that the Fund will be unable to avert the collapse of some central and eastern…
UAE aids Dubai with $10bn bond purchase
The Central Bank of the United Arab Emirates has acted on fears that Dubai will not be able to repay its debt by buying $10 billion-worth of the emirate's bonds.
Don't panic, pleads ECCB as Stanford run starts
The Eastern Caribbean Central Bank, which acts as financial regulator, has called for calm in Antigua and Barbuda as nervous depositors began to withdraw funds from the Bank of Antigua, part of the Stanford Group.
NYFed hosts CDS powwow
The Federal Reserve Bank of New York has hosted a meeting of global regulatory authorities for credit-default swap central counterparties as part of a new concerted effort to formalise the trading and processing arrangement for the market.
Strike brings Indian markets to a halt
The majority of the Reserve Bank of India (RBI) staff held a one-day strike on Friday, resulting in significant disruptions to the country's financial markets.
UK regulator hires Credit Suisse top brass
The Financial Services Authority, the British regulator, has recruited Credit Suisse's chief operating officer for its UK private banking business.
Fed gloomy on 2009, more bullish on 2010 and 2011
The Federal Reserve has reduced its forecast for economic growth this year, but has upgraded its projection for 2010 and 2011.
Further questions over SEC in Stanford affair
The US Securities and Exchange Commission (SEC) faces further questions over its authority and competence as the fallout from the regulator's fraud charges against Sir Allen Stanford continues.
Bank of Japan to buy up corporate paper
The Bank of Japan announced plans to spend up to one trillion yen ($10.6 billion) in outright purchases of corporate paper in a bit limit the damage from "severe" financial and economic conditions.
What payments experts have learned
Payments experts have learned a lot about liquidity risk and lender of last resort from the crisis, explained Daniel Heller, the new head of the influential CPSS Secretariat in Basel.
Riksbank's Svensson solves liquidity-trap problem
Lars Svensson, the deputy governor of the Sveriges Riksbank, has devised what he has labelled a "foolproof way" to escape a liquidity trap.
Greenspan: nationalise but protect bondholders
Alan Greenspan, a former Federal Reserve chairman regarded as one of the foremost proponents of free markets, has conceded that some American banks may need to be nationalised.
Universal regulator model on the up
The number of countries adopting a single regulator model for the supervision of their banking, securities and insurance industries rose in 2008.
Bank's MPC wants money levers to hit target
The Bank of England's Monetary Policy Committee has unanimously called for the use of tools to boost the money supply to meet its inflation target, minutes of its latest rate vote reveal.
Canada appoints governor's adviser as deputy
Timothy Lane will replace Sheryl Kennedy as deputy governor of the Bank of Canada, the central bank announced.
Zim's Tsvangirai: Gono's fate "first on agenda"
Morgan Tsvangirai, the prime minister of Zimbabwe, has said that the standing of Gideon Gono, the governor of the country's Reserve Bank, is the top priority for the new legislature. The prime minister's statement follows claims by the new finance…
Israel looks to boost economy with bond purchases
The Bank of Israel began buying government bonds on Tuesday in an attempt to pump more money into the economy.
Japan's finance minister resigns, forgets BoJ rate
Shoichi Nakagawa, Japan's finance minister, has stepped down after opposition lawmakers accused him of being drunk at a press conference at which he wrongly stated that the Bank of Japan had set a benchmark target range of between 0% and 0.2%.
Banking will never be the same: BoE's Besley
The credit crisis has irrevocably and fundamentally altered the banking system and its regulation, Tim Besley, a member of the Bank of England's Monetary Policy Committee, has said.
UK inflation stays in letter-writing territory
British CPI inflation edged down in January but less so than analysts' expected. However, RPI inflation slid sharply to a near 49-year low as mortgage costs plunged on the back of the Bank of England's rate cuts.
Saudi deputy replaces governor of 25 years
Muhammad Al-Jasser, the vice-governor at the Saudi Arabian Monetary Agency, will take charge of the central bank after 13 years in his current role.
Leaning against the wind talk hot air: BoE's Bean
Charlie Bean, the deputy governor responsible for the Bank of England's monetary policy, has rejected claims that countering asset-price bubbles with rate hikes would have tempered the worst of the financial excess that triggered the credit crisis.
Fed rate board to get more time to talk
The Federal Open Market Committee's (FOMC) policy meetings for the rest of 2009 will take place over two days to allow more time to discuss the ills of the US economy.
Pakistan calls for second IMF loan
Islamabad is to ask the International Monetary Fund (IMF) for a second multi-billion dollar loan to temper the impact of its counter-terrorism measures on its already-fragile economy. News of Pakistan's request follows the Fund's announcement on Friday…