Central Banking
British bankers lobby Banking Commission
British Bankers’ Association chief executive Angela Knight warns against breaking up the banks; argues Basel III does not need to be buffered by national measures
Transition for 2012 will prove tricky, FSA officials acknowledge
Hector Sants says project will be complete by year after next, but acknowledges strain on those involved; Turner echoes comments
HKMA measures cost of regulatory reform
Hong Kong Monetary Authority finds positive effect from Basel III
White emphasises use of Austrian school in policymaking
Bank for International Settlements former economic adviser William White says use of Austrian school assumptions about the financial system could help prevent further crises
Trichet: ESRB to review counter-cyclical capital buffers
European Central Bank president Jean-Claude Trichet says counter-cyclical capital buffers a good starting point for European Systemic Risk Board
Zeti: EM central banks aided by development role
Bank Negara Malaysia governor Zeti Akhtar Aziz says central bank’s financial market mandate helped emerging market economies address credit market disruptions during crisis
ECB could offer governance concession on T2S
European Central Bank could modify governance arrangements of its settlement platform in a bid to entice sterling to join
Ireland’s regulator moots new capital facility for banks
Central Bank of Ireland head of financial regulation Matthew Elderfield says creation of standby contingent capital facility for banks from European Union and IMF bailout money will help ease markets
Chinese sovereign debt to be issued using HKMA platform
Hong Kong Monetary Authority and China’s finance ministry reach agreement to allow issuance of renminbi bonds using central bank tendering platform
BoE’s Haldane offers a case for macroprudential policy
Andrew Haldane says credit cycles arise from collective action failures, justifying systemwide measures; argues against leaning against the wind
Irish bailout fails to restore faith in PIIGS debt
CDS spreads on peripheral eurozone debt widen despite €90 billion in aid
Despite Ireland’s bailout, the eurozone’s problems remain
Ireland’s bailout merely delays the day of reckoning for the euro project, Geoffrey Wood argues
Bernanke: QE2 a misleading moniker
Federal Reserve chairman Ben Bernanke says $600 billion Treasury purchase scheme not officially quantitative easing
BoJ: liquidity strains alter investor behaviour
Bank of Japan study shows investors sell or buy a liquid asset more quickly in distressed environments
Sarb’s Mminele on payment system reform
South African Reserve Bank deputy governor Daniel Mminele says international payment system should receive special attention
HKMA, PBoC react to QE2
Hong Kong Monetary Authority and People’s Bank of China counter Fed’s quantitative easing programme with regulatory and monetary policy measures
Plosser: focus on real, not nominal, rates
Philadelphia Federal Reserve president Charles Plosser suggests targeting interest rates to lean against strong asset-price growth
ECB approves Target2-Securities baseline price
European Central Bank’s Governing Council agrees to fix the transaction cost for Target2-Securities at 15 cents per transaction but attaches conditions
Irish woes may spread to other PIIGS
European Union action on Ireland’s bank debts points to fears over contagion spreading across peripheral Europe
BoJ’s Noda: Japanese growth moderating
Bank of Japan policy board member Tadao Noda says Japan’s economy expected to moderate following weakness in exports
SEC risk chief to step down
First head of regulator's risk division will return to academia in January
Italy’s Enria voices concern over regualtory arbitrage from Basel III
Bank of Italy head of the supervisory regulations and policies Andrea Enria says rigourous introduction of Basel across all countries and financial sectors will reduce risk of regulatory arbitrage
RBA’s Battellino: US households worst off from recession
Reserve Bank of Australia deputy governor Ric Battellino says US households share greater burden with every recession
Gjedrem on the Norges Bank’s history
Norges Bank governor Svein Gjedrem discusses transition of Norges Bank from government advisor to fully fledged central bank