G20
Sarb hires head of new international relations department
Legal professor Daniel Bradlow will lead a new department at South African Reserve Bank designed to co-ordinate and direct its participation in international forums
RBI’s Subbarao encourages more ambitious global governance
Reserve Bank of India governor wants more cohesive policies between countries, and commitments to be enforced
Basel Committee reports slow progress ahead of G-20 meeting
Report submitted to G-20 leaders ahead of summit shows just six of 29 systemically important banks are likely to be subject to Basel III rules when deadline is passed
Most countries set to miss Basel III deadline
Progress report on Basel III implementation reveals no country has yet adopted final rules; Stefan Ingves says it is clear some jurisdictions will miss January 1 deadline
Asian central banks press ahead with OTC derivatives reform
Reserve Bank of India launches OTC derivatives trade repository; HKMA reveals results of consultation on derivatives regulation
Basel Committee unveils framework for monitoring D-Sibs
Consultative document sets out loss-absorbency guidelines for domestic systemically important banks; principles allow greater flexibility than rules for global institutions
Lagarde welcomes additional IMF funding
Christine Lagarde praises countries pledging additional $456 billion to the IMF; says funds will only be used as a “second line of defence”
Role of FSB ramped up as Carney updates G-20 on progress
Financial Stability Board to gain legal footing under Swiss law; Carney reports “good” progress on implementation of financial reforms but says more to be done
IMF paper examines changing bond demand
Working paper considers changes in investor demand for government bonds after the financial crisis; finds lower yields shift demand from foreign to domestic investors
FSB report highlights countries behind on OTC reforms
Progress report shows many countries failing to implement OTC derivatives market reforms; calls for 'aggressive push' to meet deadline
FSB reports ‘solid’ progress on financial regulatory reforms
FSB chairman Mark Carney gives update to G-20 finance ministers and central bank governors; new reports cover D-Sibs and the sensitivities of harnessing the power of shadow banking
IMF resources set to rise by $430 billion
IMF to receive up to $430 billion in additional funding; fund stresses resources are “not earmarked” for any region in particular
ECB reveals dip in G-20 GDP growth
European Central Bank announces G-20 GDP growth slowed to 0.7% in the fourth quarter of 2011
Lagarde stresses importance of firewalls
Managing director of IMF says she is “encouraged” by G-20 commitment to strengthening firewalls to limit spread of economic damage
Canada’s Murray identifies shift in global policy effort
Bank of Canada deputy governor John Murray highlights prospective benefits from co-ordinated policy response to current economic problems
Bank of Canada paper urges reform to international monetary system
Bank of Canada study says reforms to international monetary system should focus on flexible exchange rate regimes and coherent macroeconomic policy
The G-20 and the dollar: what’s new?
Reform of the international monetary system is overdue but the pace of change is too slow, says Ousmène Jacques Mandeng.
Eurozone leaders hold emergency meeting in Cannes
Greek prime minister George Papandreou is summoned to Cannes for crisis talks ahead of G-20 meetings after receiving the backing of his cabinet to hold a referendum on the eurozone bailout
BIS reviews development of macroprudential toolkits
Bank for International Settlements progress report to G-20 says macroprudential framework needs appropriate tools to limit systemic risk; provides broad definition of macroprudential
FSB sets out framework for monitoring implementation of financial reforms
Financial Stability Board announces co-ordination framework for implementation monitoring of G20/FSB financial reforms; priority areas set for extra scrutiny
RBA’s Edey assesses future global CCP model
Reserve Bank of Australia assistant governor Malcolm Edey warns abstract model of central clearing pictured by G-20 leaders may not be realised in practice
G-20 endorses final G-Sifi rules
Finance ministers and central bankers offer support to G-Sifi rules; want to see framework expanded to all banks deemed too big to fail regardless of global reach
FSA and SEC continue strategic dialogue meetings
US and UK lead the way on cooperation and idea-sharing as regulatory reforms kick in; collaboration on key changes crucial as world struggles to rebuild after latest economic shocks