Central Banking
Interview: Yaseen Anwar
The new governor of the State Bank of Pakistan tells Yusuf Yassin about the role he wants the central bank to play in the development of physical and financial infrastructure
Indonesia announces deputy governor candidates
Four candidates named for two deputy governor posts; parliament passes bill creating new financial services authority
Stark to remain on ECB executive board until January
Jürgen Stark agrees to stay on at the European Central Bank until Jörg Asmussen’s term begins in January 2012
Visco confirmed as Bank of Italy governor
Bank of Italy’s Ignazio Visco promoted to governor following confirmation by Italian president Giorgio Napolitano
Draghi open to further bond purchases
Bank of Italy governor Mario Draghi says tools for immediate implementation of unconventional measures are necessary for crisis management
European Payments Council raises concerns over Sepa regulation
Representatives from Europe's payments industry say European Union proposals for Sepa regulation are an attempt to abolish preferred direct debit model in region
Korea and China renew currency swap deal early
People’s Bank of China and Bank of Korea agree to renew and expand currency swap arrangement; also discuss converting swap currencies into reserves
Bundesbank accelerates Weber’s UBS start
Bundesbank permits Axel Weber to take on role as an “adviser” to UBS three months early; investment bank needs him to help fill top management void after scandal
Estonia sounds clear warning on Europe crisis contagion
Eesti Pank says strain is growing in Estonia as eurozone crisis spreads to other areas of the region; asks banks to pay close attention to capital levels
New regulatory initiatives pose stability risks: National Bank of Austria paper
National Bank of Austria study says overdose of Tobin tax can lead to severe instability of financial system; ban on short selling increases tail risk
Limited liability leads to excessive risk-taking: IMF paper
Fund study shows excessive risk-taking by banks increases as the interest rate decreases
BoE’s Salmon discusses latest banknote security features
Bank of England banking services executive director Chris Salmon explains use of motion thread in new £50 banknote
HKMA’s Lau lays out strategy for regulating OTC derivatives
Hong Kong Monetary Authority executive director Edmond Lau says Hong Kong over-the-counter derivatives regulation must meet international standards
Kenya selects finance ministry official as new deputy governor
Deputy director of debt management at the finance ministry chosen as deputy governor for central bank; tasked with improving capacity in monetary policy management
ECB threatens to stop trading swaps with US counterparties
ECB invokes US legal amendment providing it with broad immunities and says it might stop using US dealers unless granted exemptions from Dodd-Frank Act rules
Vatican calls for global central bank
Vatican social policy experts say global leaders should establish global central bank to address problems in international monetary system; says IMF failed to stabilise financial system
Treasury Select Committee grills King
Bank of England governor faces quick-fire questions on quantitative easing and lending to small and medium-sized enterprises; discusses the timing of the latest asset purchase programme boost and reminds government of their responsibilities
Finland reveals board member applicants
Candidates represent a lively cross-section of career paths; existing board member Pentti Hakkarainen submits application
Skilled graduates key driver for regional growth: NY Fed paper
New York Federal Reserve study says producing skilled graduates contributes to regional economic success
Liquidity concerns explain high level of cash transactions: Bundesbank paper
Bundesbank study says high percentage of cash transactions due to consumers' willingness to monitor liquidity
Credit booms fuelled by lax monetary policy: IMF paper
Fund study says accommodative monetary policy was main driver of credit booms in last half century
EMEs have scope to respond to a global slowdown: RBA’s Battellino
Reserve Bank of Australia deputy governor Ric Battellino says emerging market economies have capacity to respond to decline in weakness in global demand
BoE’s Haldane discusses broad reforms
FPC member calls for comprehensive reform of bankers’ remuneration and warns Basel III may not go far enough
ECB announces new T2S start date
European Central Bank announces T2S project to launch in June 2015; key changes demanded by Advisory Group behind delays