Central Banking
Deficits set to stay sky-high despite growth revival, warns Fund
IMF says deficits worldwide will fall by less than expected in 2010, in spite of improved growth prospects; developed economies worst offenders
NBB’s Praet backs DG Competition for EU resolution authority
National Bank of Belgium’s Peter Praet says Directorate General for Competition could play credible role in resolving failed banks
Emerging Europe keen on euro despite Greek debt woe
Central and Eastern European countries remain drawn to the single currency despite Greek troubles
Albania accused over hotel deal: reports
Albanian central bank buys country’s oldest hotel from government, opposition politician reportedly alleges misconduct
SNB records $1.3bn profit for first quarter
The Swiss National Bank’s has reported a quarterly net profit of Sfr1.5 billion for the first three months of the year
ECB Monthly Bulletin (May)
European Central Bank explains unprecedented bond purchases
BoK bristles at government presence during rate-setting vote
Bank of Korea governor Kim Choong Soo calls for change in government involvement in monetary-policy meetings; tensions threaten to escalate into full-blown row
RBA: Lowe revises Australian economy recovery upward
Reserve Bank of Australia assistant governor Philip Lowe links renewed growth in Australia to improved terms of trade
Volcker dismisses prop trading criticism
Former Federal Reserve chairman Paul Volcker sweeps aside concerns that banks might not be able to differentiate between trading on their own books and on clients' behalf
Fed’s Kohn: US still vulnerable from global imbalances
Federal Reserve vice chairman Donald Kohn says fiscal restraint needed in US to level global imbalances
Economic cycles in Middle East, North Africa and Pakistan
New IMF paper analyses recessions and recoveries in Middle East, North Africa and Pakistan
Fed extends streak, keeping state bank oversight
US Senate amends Dodd bill, allowing Fed to keep supervision of state banks, vote hailed by Kansas Fed chief Thomas Hoenig
SARB points to pitfalls of exchange rate rigidity
South African Reserve Bank keeps rates flat as inflation outlook remains steady, advisor says exchange rates an important policy tool
Bangladesh Bank gets $250m for infrastructure project
Bangladeshi central bank will administer loan from World Bank to support infrastructure investment
NY Fed: foreign exchange swap lines smoothed disruptions in overseas markets
A New York Federal Reserve review shows swap lines enhanced the ability of central banks to provide dollar funding
Iceland firmly under IMF cover: Sighvatsson
Central Bank of Iceland deputy governor Arnór Sighvatsson warns against premature exit from IMF support
Finnish housing rebound larger than neighbours'
Finnish central bank report shows housing market was boosted by low interest rates but remains well below its pre-crisis peak
Ma signals further reforms in China's rural areas
People's Bank of China deputy governor Ma Delun outlines new financial reform in China's rural areas
Czech fury at ECB negative capital view
Czech central bank objects to ECB's denigration of negative capital in its Convergence Report
King throws weight behind new government's cuts
Bank of England governor Mervyn King says incoming coalition government's plans to cut UK expenditure by $9 billion in 2010 have eased downside risks to growth
UK coalition gives Bank lead regulatory role
Conservative and Liberal Democrat parties agree to put Bank of England at the centre of financial regulation on Wednesday, stop short of abolishing FSA
Agency didn't follow its models on CDO ratings
A leading rating agency gave triple A ratings to CDO tranches when their own models implied downgrades
ECB will not sell eurozone bonds: Stark
European Central Bank rate-setter Jürgen Stark says eurozone bonds will be held to maturity, rebuts suggestion that central bank was leant on by governments to buy debt
Regulators set out policy agenda for OTC derivatives infrastructure
CPSS and IOSCO issue consultative reports on central counterparties and trade repositories