Central Banking
BaFin's Sanio: no fix for cross-border failure
Jochen Sanio says supervisors nowhere near to solving “key issue” highlighted by crisis; flags lack of communication on Lehman Brothers
Mersch calls for clear government fiscal strategy
Central Bank of Luxembourg president Yves Mersch says sending clear message to restore fiscal sustainability is key to economic recovery
González-Páramo: macroprudential policy implementation a work in progress
European Central Bank executive board member José Manuel González-Páramo says policymakers must understand full effects of macroprudential policies
Australian banks demonstrate resilience says RBA
Reserve Bank of Australia Financial Stability Review shows improvement in banking sector as bank profitability returns to pre-crisis levels
IMF: low income countries lack proper monetary policy framework
Fund study shows monetary transmission mechanism in low-income countries is less effective due to institutional deficiencies
Basel liquidity rules hit fresh objections
A reworking of part of the liquidity coverage ratio is rejected by the Basel Committee
Senate confirms two out of three Fed directors
Last-minute deal seats Yellen and Raskin, Diamond turned down
Basel II grievances stir transatlantic tensions on new accord
BNP Paribas chairman Michel Pébereau slams United States’ failure to implement Basel II across the board; says Basel III will unfairly impair Europe
Trinidad and Tobago’s central bank faces legal action over bankrupt insurance giant
Disgruntled policyholders of failed insurance giant Clico demand compensation from Central Bank of Trinidad and Tobago over what they see as deficiencies in oversight
Weber, Blankfein praise Basel III leverage cap
Bundesbank president Axel Weber and Goldman Sachs chairman Lloyd Blankfein laud Basel III’s inclusion of leverage ratio, as opposition mounts
OECD reappoints Gurría as secretary-general
Angel Gurría commits to second term as secretary-general at Organisation for Economic Cooperation and Development
Hungary’s Simor asks for independence to be written in statute: reports
National Bank of Hungary governor András Simor reportedly asks lawmakers to put central bank independence in constitution as controversial pay cut takes effect
Too big to fail solution essential, says Weber
Bundesbank president Axel Weber says financial system will be unsafe unless too big to fail problem is solved
Bernanke stresses importance of financial education
Federal Reserve chairman Ben Bernanke says financial literacy is important part of school curriculum
Polish banking sector curbed growth in crisis
National Bank of Poland study shows banking sector played significant role in economic slowdown during financial crisis
ESRB big leap for Europe: Trichet
European Central Bank president Jean-Claude Trichet says launch of European Systemic Risk Board indicates significant progress in regulatory architecture
Fisher: Bank special liquidity scheme will not be extended
Bank of England executive director of markets Paul Fisher says government bond swap facility will expire in 2012
RBNZ: carry trade reversed depreciation in NZD
Reserve Bank of New Zealand study shows high yielding currencies gradually offset declines in New Zealand dollar during crisis
BoE: stress tests tightened credit conditions
Bank of England’s survey on credit conditions shows lenders thought the availability of funds tightened in response to European stress tests
IMF on link between collateralised borrowing and systemic risk
Fund study says rapid declines in the value of bank collateral can cause systemic risks
Australia adds financial stability to monetary policy mandate
Australian government amends Reserve Bank of Australia’s monetary policy remit to include financial stability
Meirelles flags travails of financial reform
Central Bank of Brazil governor Henrique Meirelles says reform must be unified; Chinese, Indian ambassadors note shortcomings of G20
Ireland reveals fresh Anglo Irish bailout
Central Bank of Ireland outlines new restructuring for Anglo Irish Bank, finance minister acknowledges cost of bailout prevents government from meeting deficit cuts for year
No alternative to bail-in capital: Bank's Tucker
Bank of England's Paul Tucker attacks bankers' concerns that bail-in capital will rattle investors; Sweden's Ingves says conversions achievable