Central Banking
FDI boosts external balances: IMF paper
IMF study shows central eastern and southeastern Europe region benefited from large foreign direct investment pre-crisis
Sarb’s Marcus on the economist profession
South African Reserve Bank governor Gill Marcus says economists’ role in society included acting as a constraining voice on economic issues
Bankers underestimate need to recapitalise: ECB paper
European Central Bank study shows bankers’ incentive to recapitalise during periods of crisis are undermined by negative externalities
BoE’s Tucker calls for ex-ante resolution for CCPs
Bank of England deputy governor Paul Tucker calls for further ex-ante measures to wind down failed central counterparties
IMF candidates battle to win support
Lagarde and Carstens visit Brazil; Merkel supports non-European candidate in the future
Estonia announces severance packages for rejected deputy governors
Ousted deputy governors given six-month wage severance packages; nomination process for next governor underway
Gold holdings 'useless': CentralBanking.com panellist
Gold holdings are “useless” and a “remnant from the past”, according to Michael Hart, head of FX strategy at Roubini Global Economics
Draghi faces large pay cut
Bank of Italy governor Mario Draghi’s pay would more than halve as next European Central Bank president
Reserve managers must reconsider strategies: CentralBanking.com panel
Central bank reserve managers must think about diversification to better prepare for future crises, panellists say
Ex-De La Rue chief decamps to rival
Oberthur Technologies snaps up former De La Rue chief executive James Hussey; shares in UK banknote producer slump as Oberthur ends interest in rival
Hong Kong strengthens security for ATMs
Automatic teller machines will use chip-based technology to help cut fraud; magnetic strips on cards will still work for foreign transactions
Fed research director to retire
David Stockton, director of the division of research and statistics, will leave the Federal Reserve Board at the end of September after 30 years
HKMC - Annual Report (2010)
Hong Kong Monetary Corporation 2010 Annual Report shows $600 million increase in loans purchased in Hong Kong
Bank reserves do not affect lending levels: NY Fed paper
New York Federal Reserve study says bank lending levels are independent of amount of reserves in banking system
RTGS usage climbs: Bank of Israel survey
Bank of Israel 2010 Payment and Settlement Systems survey shows Zahav transactions increased by 20% in 2010
France’s Noyer on failures of dealing with asset bubbles
Bank of France governor Christian Noyer admits to shortcomings in pre-crisis monetary policy framework towards asset-price bubbles
Talk of restructuring worsened turmoil: Bini Smaghi
ECB executive board member blames inability of securities market programme to curb investor fears on renewed talk of restructuring; tells Central Banking Greece should have sought help sooner
Argentina’s Blejer likens Greece bailout to ponzi scheme
Former Central Bank of Argentina president Mario Blejer compares Greece bailout to ponzi scheme; analyst expects restructuring of debt to be delayed until 2013
Lending and investment operations split in Kuwait
Kuwait asks investment firms to apply for separate licences for lending and investment operations; mirrors “ring-fencing” in the United Kingdom
Bini Smaghi: Greece not our responsibility if it defaults
Executive board member tells Central Banking Greece's fate is in its hands; reprofiling dismissed on grounds that it would have "all implications" of a default
Fitch downgrades Cyprus over threat of Greek contagion
Fitch downgrades Cyprus three notches to A- amid concerns over Cypriot banking sector’s exposure to Greece
Afghan central bank reacts to critical report
Report unleashes criticism of central bank’s handling of Kabul Bank loan scandal; governor reacts angrily
Central Bank of West African States names new head
Former Ivorian minister Kone Tiemoko Meyliet is the new governor of the West African Central Bank
Mexico’s Carstens urges review of international bodies
Bank of Mexico governor Agustín Carstens says international bodies must regain their legitimacy by reviewing reform agenda