Central Banking
Virtual art showcase centrepiece of Finnish website re-launch
Bank of Finland unveils renovated internet portal at new address, featuring virtual tours of building and extensive art collection
Argentina raises deposit insurance ceiling: reports
Central Bank of Argentina quadruples cap on bank deposit insurance to better reflect falling peso
Federal Reserve – Beige Book (January 2011)
Reports from twelve districts identify slight improvement in labour markets
BoJ’s Nishimura warns of challenge population ageing poses on recovery
Bank of Japan deputy governor Kiyohiko Nishimura says population ageing can have prolonged effects on balance sheet adjustments following crises
Israel’s Eckstein backs new gas levy
Bank of Israel deputy governor Zvi Eckstein supports committee recommendations on natural gas levy
Oberthur seeks equity house support in De La Rue takeover bid: reports
French banknote firm Oberthur reportedly in talks to issue private equity houses with convertible bond to fund De La Rue acquisition
Senior officials for new European regulators named
European regulators in Paris and Frankfurt appoint a number of new heads and board members
Portugal succeeds at auction but fails to sway analysts
Portugal sells $1.6 billion worth of government debt at auction, but commentators remain wary of fundamentals
Argentinean central bank okays $7.5 billion loan to state
Central Bank of Argentina approves loan of $7.5 billion of reserves to repay bondholders; move is central bank’s latest measure to bail out government
Fed uncooperative and audit insufficient, claims influential senator
US senator Bernie Sanders dissatisfied with Federal Reserve’s response to further questions on audit of emergency lending facilities
Turkey’s Yilmaz says lost output recovered
Central Bank of Turkey governor Durmuş Yilmaz says growth in Turkey has returned to pre-crisis levels but weak exports continue to limit production
IMF paper identifies de-dollarisation drivers in South America
Fund study says de-dollarisation of deposits and development of local capital markets key factors in Latin American countries
IMF’s Lipsky calls for major US fiscal consolidation
IMF first deputy managing director, John Lipsky, says measures to ease debt burden in Unites States could have broader benefits for global recovery
Canada’s Côté on households' role in recovery
Bank of Canada deputy governor Agathe Côté discusses balance of risks in household spending and impact on economic recovery
South Korea promotes use of SWF to acquire foreign businesses: reports
Korea’s Presidential Council on National Competitiveness head Kang Man-soo says Korea Investment Corporation can help expand mergers and acquisitions abroad
Fed profits soar to record $80.9 billion
Federal Reserve posts another record profit, trumping 2009 by $27.5 billion; paves the way for $78.4 billion transfer to US Treasury
Barclays’ Diamond argues case for universal banking
Barclays' chief executive Bob Diamond adamant bank’s model funds cheaper lending and is less risky
Oberthur given takeover deadline as De La Rue spat intensifies
French banknote printer told to “put up or shut up” by 7 February; ruling comes on the heels of efforts to force De La Rue to clarify relationship with RBI, failed November takeover bid
High inflation stirs banknote shortage in Argentina: reports
Inflationary pressures in Argentina create shortage of high-denomination banknotes forcing long queues at cash machines
Labour market essential component of recovery: NY Fed’s Tracy
New York Federal Reserve executive vice-president Joseph Tracy says shape of US economic recovery relies on labour market improvements
Spain’s monetary policy could not have prevented housing bust: IMF
Fund study says retaining the peseta would not have necessary prevented the housing collapse in Spain over the last decade
Trichet proposes macroeconomic scoreboard system
European Central Bank president Jean-Claude Trichet outlines ideas for a new macroeconomic framework for euro area
BIS appoints Chile’s De Gregorio to chair regional consultation group
Central Bank of Chile governor De Gregorio succeeds former Central Bank of Brazil governor Henrique Meirelles as head of Bank for International Settlements Consultation Council for the Americas
Shirakawa elected vice-chair of BIS board
Bank of Japan governor Masaaki Shirakawa picked to succeed Hans Tietmeyer as vice-chair of Bank for International Settlements’ board of directors