News
FDIC seizes Californian bank
The Federal Deposit Insurance Corporation (FDIC), a US regulator, has taken control of IndyMac, a California-based lender with total assets of $32 billion.
King declines bumper pay hike
Mervyn King, the governor of the Bank of England who has repeatedly called on UK employers to avoid hiking wages in line with rising inflation, has refused a salary increase that would have seen his pay soar by more than a third.
UAE speeds up cheque processing
The Central Bank of the UAE has introduced a new cheque-clearing system that will vastly reduce the time taken to process cheques.
UAE's Suwaidi wins fifth term
Sultan Bin Nasser al-Suwaidi, the governor of the Central Bank of the United Arab Emriates (UAE), will serve another four-year term.
Denmark bails out bank
The National Bank of Denmark has agreed to provide $158m-worth of emergency financing to Roskilde, a bank.
Kenya governor caught up in hotel probe
Njuguna Ndung'u, the governor of the Central Bank of Kenya, is reportedly facing allegations of defamation and has become embroiled in investigations into the controversial sale of a Nairobi Hotel.
Swiss regulator heeds calls for tougher rules
The Swiss Federal Banking Commission, the industry regulatory, has written to the country's two biggest banks to outline plans to enforce more stringent capital requirements.
Chile hikes by half a point
The Central Bank of Chile on Thursday raised its key rate half a point to 7.25% on the back of a deteriorating inflationary outlook.
Canada names special advisers
The Bank of Canada has appointed two economics professors as its special advisers on monetary policy for the coming year.
UK rates stay at 5%
The Bank of England held its key rate at 5% for the third straight month on Thursday.
Number of counterfeit euro notes surges
The number of counterfeit banknotes recovered in the eurozone soared by 5.4% in the first half of 2008, the European Central Bank (ECB) said on Thursday.
Goodhart predicts "annus horribilis" for BoE's MPC
The Bank of England's Monetary Policy Committee (MPC) is in for a terrible year, Charles Goodhart, a former member of the committee, said.
GCC should drop dollar peg: Fed adviser
A prominent US economist with Federal Reserve experience has said it makes sense for Gulf states to abandon their dollar pegs.
Canada calls time on money injections
The Bank of Canada has said it will withdraw liquidity from the system on signs that money-market tensions are abating.
US lists advanced Basel II qualification rules
The four US regulatory agencies responsible for Basel II have detailed how firms may qualify to use the advanced approaches of the framework.
BoE rate low but homeowners face price surge
UK mortgage costs hit an eight-year high at the end of June despite the Bank of England's key rate remaining at 5%, its lowest level for more than two years.
Norwegian SWF mulls emerging-market portfolio
Norway's Government Pension Fund - Global is looking to invest in emerging-market stocks, say media reports.
EU sets euro exchange rate for Slovakia
The European Commission on Tuesday finalised Slovakia's bid to join Europe's single currency, fixing the koruna's conversion rate at 30.1260 to the euro.
SEC memorandum a short-term fix: Bernanke
The memorandum of understanding (MOU) between the Securities and Exchanges Commission (SEC) and the Federal Reserve, introduced Monday, is only meant to address the short-term issues surrounding the regulation of investment banks, Ben Bernanke, the…
Strengthen central bank, IMF tells Burundi
The International Monetary Fund (IMF) on Monday advised the Burundian authorities to grant the central bank's independence and enhance the institution's internal controls.
Lebanese banks compliant, insists governor
Riad Salame, the governor of the Bank of Lebanon, has countered allegations that the country's financial institutions illegally supported Hezbollah, a militant group.
SARB mints Mandela coin
The South African Reserve Bank has issued a R5 (64) coin to commemorate the 90th birthday of Nelson Mandela, a former president and anti-apartheid campaigner.
Japanese SWF proposed
A panel of the ruling Liberal Democratic Party (LDP) has recommended that Japan should establish a sovereign wealth fund managing 10 trillion ($93 billion) in assets drawn from the country's pension reserves to bolster returns.
Tightening prospects fade in Japan
The prospects for a rate hike in Japan in the near future have become even smaller after a quarterly report by the Bank of Japan indicated that economic conditions have worsened in eight of the country's nine regions since April.