Central Banking
Insurance companies’ characteristics key to regulation: BoJ’s Shirakawa
Bank of Japan governor Masaaki Shirakawa says insurance companies’ long-term liability structure should be considered when reforming regulatory frameworks
Application process opens for board member at Bank of Finland
Application process opens to find replacement for Pentti Hakkarainen whose five-year term ends in February
New president fires low-inflation champion Fundanga
Central Bank of Zambia governor Caleb Fundanga fired by new president; no replacement announced yet for governor praised for low inflation efforts
SNB considers ceasing shareholder dividend payments
Swiss National Bank vice-chairman says central bank may stop paying dividends to its shareholders in order to rebuild its depleted capital base
Leaked letter reveals ECB austerity demands on Italy
Trichet and Draghi asked for 'pressing action' from Italian authorities; puts rumours of such communication to rest
Government debt no longer risk-free: Canada’s Macklem
Bank of Canada senior deputy governor Tiff Macklem says government debt in advanced countries is unlikely to regain its risk-free status
Easier access to credit can replace foreign aid: St Louis Fed paper
St Louis Federal Reserve study argues that easier access to international credit can on occasion prove more effective to developing countries than foreign aid
RBI’s Khan favours balanced policy orientation to EME capital inflows
Reserve Bank of India deputy governor Harun Rashid Khan says a variety of policy tools are needed to manage capital inflows in emerging markets
Translating new GDP data into more accurate nowcasts: Norges Bank paper
Norges Bank study examines how precision of density nowcasts increases as GDP data is revised
Germany backs new EFSF powers
Concerns over firepower of European Financial Stability Facility remain despite its new enhanced powers after Berlin passes new legislation with majority vote
Kuwait central bank employees protest over pay
Central bank workers want salary increases; latest government workers to demand more after oil sector employees receive up to 66% wage hike
Barroso to ECB: do 'whatever is necessary' to maintain financial stability
European Commission chairman says ECB must ensure financial stability by any means; announces financial transaction tax and supports eurobonds
Italian politicians uneasy over Draghi replacement delay
Opposition leaders criticise delay in announcing successor for Mario Draghi as governor of the Bank of Italy
Russia’s Ignatiev commends ousted finance minister
Bank of Russia chairman Sergei Ignatiev says Alexei Kudrin was "very strong" finance minister following his dramatic resignation
UK’s FPC changes tack on capital requirements
Loosely-worded document does not clarify FPC’s demands on banks; new regulatory body asks for more powers in new legislation
European central bank gold sales lowest since 1999
European central banks sold just 1.1 tonnes in last 12 months; lowest since Central Bank Gold Agreements began
NY Fed paper highlights risky debt management strategies
New York Federal Reserve study says high levels and maturities of debt risk increasing macroeconomic instability
Bank of Finland forecasts China’s economy to slow
Bank of Finland Institute for Economies in Transition says growth in China is expected to weaken to 9% in 2011 from 10.4% in 2010
MAS’s Menon dismisses Asian regulatory arbitrage opportunity
Monetary Authority of Singapore managing director Ravi Menon says suggestions that central banks in Asia and Singapore will implement less stringent over-the-counter derivatives rules are untrue
Czech National Bank paper discusses how inflation targets are set
Czech National Bank study says historical macroeconomic characteristics are factored into officials’ decision to set the level of inflation targets
BIS working group urges more communication with traders
Bank for International Settlements working group report says authorities must be more alert to threats posed by high-frequency trading, calls for increased dialogue with market participants
Papandreou appeals for German support
Greek prime minister George Papandreou travels to Berlin to seek solution to sovereign debt crisis; due to meet German chancellor Angela Merkel
FSA asks UK government to be very clear in new legislation
Financial Services Authority warns government it risks creating “real confusion” over duties of new Financial Conduct Authority
Fiscal cuts can stabilise macroeconomy: Philly Fed paper
Philadelphia Federal Reserve study shows fiscal retrenchment can, in some circumstances, reduce macroeconomic instability and stimulate economic activity