Central Banking
Shirakawa draws parallels with QE in Japan, US
Bank of Japan governor Masaaki Shirakawa says same aims underlie Japan's monetary easing scheme and Federal Reserve's asset purchase programme
Qatar launches m-payment scheme
Qatar Central Bank licenses two telecoms providers to offer mobile payment services; move makes it first in region to operate scheme
Lender of last resort function essential: Norges Bank’s Qvigstad
Norges Bank deputy governor Jan Qvigstad says central bank’s lender of last resort role was critical during the financial crisis
RBNZ’s Bollard: external shocks and internal rebalancing will prolong recovery
Reserve Bank of New Zealand governor Alan Bollard says Western countries have to contend with both external shocks and internal rebalancing
Bahrain’s Al-Maraj calls for new Islamic finance business model
Central Bank of Bahrain governor Rasheed Al-Maraj says Islamic financial institutions should cover essential activities to generate more steady income stream
How to ease Basel III costs: BIS
Bank for International Settlements study says banks can increase lending spreads to recoup costs from higher capital requirements
Jordan appoints Sharaf as new governor
Former Central Bank of Jordan deputy governor Sharif Fares Sharaf replaces governor Umayya Toukan at helm of central bank
Estonia nabs firms over euro leak
Bank of Estonia fines two companies for mishandling euro coins ahead of the currency’s launch in 2011; strong link to coin sale in neighbouring Latvia
Basel Committee sets out principles for deposit insurance
Basel Committee on Banking Supervision outlines principles on the scope, operation and legal dimensions of deposit insurance systems
Philippine banks migrate to new remittance payments system
Central Bank of the Philippines says all twelve participating banks are using new electronic payments system for remittances
Video: Japan FSA's Chikahisa Sumi talks about regulation's post-Basel III focus
The G-20 does not plan to sit still after its historic endorsement of Basel III. New targets include too-big-to-fail institutions, the shadow-banking system and commodity derivatives, according to Sumi.
ECB’s Tumpel-Gugerell on Sepa end dates
European Central Bank member executive board Gertrude Tumpel-Gugerell says meeting Single Euro Payments Area end dates is a requirement for migration to new system
Shirakawa: currency appreciation not panacea for inflows
Bank of Japan governor Masaaki Shirakawa says textbook solution to capital inflows does not apply to emerging economies in low interest rate environment
Philly Fed explains inventory build up prior to crisis
Philadelphia Federal Reserve study explains why prices and trade volumes increase first before collapsing in the run up to a crisis
IMF: unequal income distribution raises leverage
Fund study shows high income households’ greater bargaining power induces high leverage and financial crises
Posen reveals Bank MPC at odds over fiscal policy
Bank of England rate-setter Adam Posen talks of divide over fiscal retrenchment; accuses majority view of being “excessively political”
Budapest sets sights on Hungary’s rate-setting council
Hungarian government seeks amendment giving a parliamentary committee full control over majority of appointments to central bank’s Monetary Council
Tombini named new governor of Brazilian central bank
Central Bank of Brazil deputy governor Alexandre Tombini to replace current governor Henrique Meirelles
Russia advances Canadian dollar position
Bank of Russia will increase holdings of Canadian dollar denominated assets to diversify foreign exchange reserves
ECB’s Tumpel-Gugerell urges further reform in eurozone
European Central Bank executive board member Gertrude Tumpel-Gugerell calls for eurozone countries to avoid complacency and improve governance structures
IMF: financial innovation has spillover effects on public information
Fund study shows financial innovation reduces incentive to collect private information and increases likelihood of liquidity shocks
Bank of Canada to government: cut tax, don’t spend
Bank of Canada study shows tax cuts are better than government spending for boosting the economy
SNB’s Hildebrand on Swiss exports market
Swiss National Bank governing board chairman Philipp Hildebrand says Switzerland’s export market is picking up despite stronger swiss franc
Svensson attacks Sweden’s monetary policy framework
Riksbank deputy governor Lars Svensson finds "problem" with use of repo rate to address financial stability; favours sole focus on inflation targeting