Central Banking
Brussels calls for European ratings supervisor
European Commission proposes new body to oversee all credit ratings agencies operating in the European Union; security issuers must provide information to all agencies to boost competition
Bank's King declines pay hike for two years
Bank of England governor takes two year pay freeze of own volition; non-executive directors see salaries more than double from previous year
China’s Li calls for tightening on back of housing bubble fears
People’s Bank of China monetary policy committee member Li Daokui warns economy may overheat unless tighter monetary policies are put in place
Barroso moots European ratings agency
European Commission president's calls echo those of Michel Barnier; says proposals will be released in September
Venezuela drawn into Securency scandal: report
Australian newspaper alleges that RBA offshoot paid for Vietnamese government officials to win business from Central Bank of Venezuela
ECB reshuffles executive responsibilities as Constâncio takes over Papademos’ role
ECB shuffles distribution of responsibilities between executive board following appointment of ECB vice president Vítor Constâncio
Goodhart: CoCos 'not silver bullets' for bank capital reform
Regulators should ban dividend payments or curb banker pay to conserve cash, instead of championing CoCos, says economist
Bernanke praises emerging-market response to crisis
Federal Reserve chairman Ben Bernanke praises the Bank of Korea's policy response to the financial crisis
Cyprus: Fed took over-simplistic approach to controlling inflation
Cypriot central bank inflation study finds Fed failed to curb price growth in 1960s, 1970s
Bank tests joint credit and interest rate risk model
Bank of England research tests endogenous model to calculate credit and interest risk; finds results differ substantially
BoE payments research offers tips on economising on collateral
Bank of England study into payments systems argues that under a collateral-based real-time gross settlement system liquidity savings mechanisms can improve welfare
Bank of Korea elbows government out of rate decisions
Korean central bank wins battle to keep vice minister out of rate calls; government representative can attend and observe future policy meetings, but must leave before policymakers vote
Former Icelandic governors may face criminal charges over crisis
Icelandic parliamentary committee passes names of three former central bank officials to state prosecutors; may face criminal charges
Ratings agencies blindly mimic market jitters: Noyer
Banque de France governor becomes latest euro-area official to slam credit rating agencies for worsening debt crisis; remarks follow Spain’s second downgrade in two months
Canada hikes by quarter point
Bank of Canada raises overnight rate to 0.5%
Hungary defies government calls for cuts
National Bank of Hungary keeps benchmark rate flat at all-time low; decision will further anger new government, which has called for steeper cuts and easy money
BOE payments review finds scope for cost cutting
Bank of England review on real-time payment and settlements systems shows significant opportunities for cost savings
HKMA's Chan: markets will be punished if lessons are not learnt
Hong Kong Monetary Authority chief executive Norman Chan warns over complacency in regulating markets
IMF: higher capital costs could suffocate growth in Aus, NZ
Fund study into post-crisis growth levels in Australia and New Zealand says biggest threat is higher capital costs
Canada's Duguay: terminating penny coin has no impact on inflation
Bank of Canada deputy governor Pierre Duguay says eliminating penny coin will pose little threat of inflation
Markets support Poland’s central bank nominee amid opposition murmurs
Stock market gains as analysts welcome the nomination of former prime minister Marek Belka to head the central bank; confirmation expected despite grumblings from opposition politicians
Angolan central bank loses monetary policy mandate
Parliament votes to change law so central bank can “merely participate” in monetary and exchange rate policy; government will have responsibility while central bank assists in implementation
Surge in foreign holdings of US Treasuries and agencies ends two-week slide
Data show holdings of US Treasuries and agency securities by foreign central banks with accounts at the Federal Reserve increased $18.2 billion on the back of two weeks of declines
Venezuela to reopen bond markets
Central bank says tests of new centralised trading system nearly complete; follows closure to cut off parallel currency market