Central Banking
Brazil creates Finance Stability Committee
Central Bank of Brazil creates Financial Stability Committee to supervise financial industry and manage systemic risk
Uganada’s Tumusiime-Mutebile on reforming debt markets
Bank of Uganda governor Emmanuel Tumusiime-Mutebile calls for greater participation of brokers in debt markets
Bank of Japan’s 45th Opinion Survey
Bank of Japan 45th Opinion Survey on the General Public's Views and Behaviour shows slight pick-up in public confidence
ECB - Target2 Annual Report (2010)
European Central Bank Target2 2010 Annual Report says transaction values rose 7.6% for the year
Resolution regimes offer second line of defence: Sweden’s Ingves
Riksbank governor Stefan Ingves says resolution regimes should supplement macroprudential policy
SEC approves credit rating agency reforms
Securities and Exchange Commission unanimously votes in rules and amendments for greater transparency of credit rating agencies' operations
Greece programme not working: IMF
IMF mission to Greece urges sovereign to undertake further budgetary measures; European official hints at soft restructuring
Negative impacts of too-big-to-fail regulation “unfounded”: SNB’s Jordan
Swiss National Bank vice-chairman Thomas Jordan says Swiss economy will not be adversely affected by too-big-to-fail regulation
IMF paper addresses asset shortages in emerging markets
Fund study says greater capital market development and regulatory reform can raise supply of financial assets in emerging markets
Credit rating agencies slam sovereign warning proposal
EU Commission proposal for credit rating agencies to give sovereigns three days’ notice of a rating change causes “grave concerns”
Asean countries no longer behind the curve: Singapore’s Menon
Monetary Authority of Singapore managing director Ravi Menon says Asean countries are no longer behind the curve on monetary policy
BoE minutes: little evidence of wage-price spiral forming
Bank of England minutes say high levels of inflation are not feeding into inflation expectations and wages
Europe must share blame for sovereign debt crisis: ECB’s Stark
Stark says European Monetary Union failures contributed to situations in Greece, Ireland and Portugal; calls for end to emergency stimulus policies
Slovakia falls €515 million into the red
National Bank of Slovakia Annual Report shows a €515 million loss for 2010 due to large write-downs on securities and derivatives
Azerbaijan working to improve banking sector
Helped by the IFC and the World Bank, central bank is training bank board members in oversight and risk management best practices
IMF could remove Strauss-Kahn from post if required
IMF rules allow for removal of managing director “when the executive board so decides”
Kohn apologises for financial crisis
Former Federal Reserve vice-chairman and external FPC member Don Kohn apologises for failures that led to financial crisis; says FPC will need to ensure new tools are not circumvented by markets
Crisis propagated liquidity shortage: Bank of Canada paper
Bank of Canada study shows banks that rely on wholesale funding were worst affected during the crisis
Interest rates can only dampen systemic risk: Norway’s Olsen
Norges Bank governor Øystein Olsen says interest rate rise could have dampening effect on build-up of systemic risks but price stability remains primary objective
Bernanke urges government to promote R&D
Federal Reserve chairman Ben Bernanke says government can support research and development by fostering better climate for private investment
Central Bank of Malta - Annual Report (2010)
Central Bank of Malta Annual Report 2010 says events in euro area could disturb economic recovery in Malta
Council of the EU recommends Mario Draghi for ECB presidency
The Council of the European Union recommends the nomination of Mario Draghi as president of the European Central Bank
UK inflation climbs to 4.5%
CPI inflation rises to 4.5% in April due to higher transport costs; prompts Bank of England governor Mervyn King to send sixth consecutive letter to chancellor
Pay cut for next Dutch central bank chief
Nout Wellink to leave in July; successor to receive 23% less pay