Central Banking
Speed up on SEPA: ECB's Tumpel-Gugerell
Banks need to step up their efforts if they are to be prepared for the launch of the Single European Payments Area (SEPA) on 1 January next year, according to Gertrude Tumpel-Gugerell, a member of the executive board of the European Central Bank.
Volatility will continue to fall - IMF
Output volatility is likely to fall in the years ahead, according to the latest edition of the International Monetary Fund's (IMF) World Economic Outlook.
King speaks on Northern Rock
Three weeks ago, thousands of depositors queued on the streets outside branches of Northern Rock to take their money out. Those scenes, broadcast around the world, were shocking. How did they come about and how can we prevent them in future? My focus…
FSA chief admits failings over Northern Rock
Hector Sants, the chief executive of the Financial Services Authority (FSA) said on Tuesday that it had failed to anticipate the impact of the credit crunch on Northern Rock, a UK mortgage lender.
EU discusses regulatory response to crisis
EU finance ministers met in Luxembourg on Tuesday to consider a regulatory response to the financial crisis.
UK bankers call for global review of credit crunch
The British Bankers' Association (BBA), the trade body for the finance industry in the UK, has said that a worldwide regulatory review would help markets weather the credit crunch.
Lessons for the UK - BBA
The British Bankers' Association (BBA) has suggested a review of the recently revised money market framework and the move towards principles-based regulation.
Currency rise wanted by EU chiefs
Jean-Claude Trichet, the president of the European Central Bank; Jean-Claude Juncker, the prime minister of Luxembourg; and Joaquin Almunia, the European commissioner for monetary affairs said on Monday that they wanted the renminbi, the dollar, and the…
Open-ended guarantee for Northern Rock depositors
At the request of Northern Rock, the UK Treasury has agreed to extend the guarantee arranged in mid-September for retail depositors to any new deposits savers make or have made since 19 September. The guarantee will remain in place "during the current…
Currency diversification by Central Bank of Russia
The Central Bank of Russia has added the Swiss franc to the currency composition of its foreign exchange reserves and is considering other plans to diversify their structure, Alexei Ulyukayev, its first deputy chairman, has said.
Reserve Bank of India opposes stabilisation fund
Y V Reddy, the governor of the Reserve Bank of India, has stated that "no serious consideration" is being given to setting up a stabilisation or sovereign wealth fund in India.
Central Bank of Honduras - Annual Report 2006
The Central Bank of Honduras looked to improve payments systems in 2006 with the introduction of rules to regulate low-value electronic payments in the country's banking system.
Hong Kong benefits from mainland growth
Hong Kong's status as an international financial centre will be enhanced by the rise of mainland China, according to research published by the Hong Kong Monetary Authority.
Convergence makes Europe more resilient - Trichet
The adoption of the single currency has made the eurozone far more resilient to external developments than its individual member countries were, according to Jean-Claude Trichet, the president of the European Central Bank.
World Bank to invest $5 billion in bonds for poor
The World Bank will set up a $5 billion fund to invest in bonds denominated in currencies of poor nations.
Padoa-Schioppa to chair IMFS
Tommaso Padoa-Schioppa, Italy's economy and finance minister, is to head the International Monetary Fund's (IMF) International Monetary and Financial Committee (IMFC).
Israel to print plastic notes
The Bank of Israel said its next issue of 20 sheqel notes will be on polypropylene, a type of plastic.
Ex-Nigerian finance minister rejoins World Bank
Ngozi Okonjo-Iweala, a former finance and foreign minister in Nigeria, is set to become a managing director at the World Bank.
Kenya holds rates at 8.75%
The Central Bank of Kenya decided on Thursday to hold its benchmark rate at 8.75%.
Central Bank of Peru - Annual Report 2006
Peru's economy grew by 8% in 2006, its highest rate for 11 years.
Latest ECB lending data give cause for concern
Banks across the eurozone have tightened their credit standards for loans to businesses by 31% in response to the credit crunch that has hampered the region's money markets since the start of August, according to data from the ECB
Cash costs more than cards in Sweden
Debit and credit card payments have a lower social cost than cash transactions for purchases of more than €8 and €18 respectively, research published by the Riksbank has found.
Turmoil will impact exchange rates - IMF's Kato
The re-pricing of risk taking place as a result of the credit crunch will lead to a rebalancing of currencies and growth in the near future, according to Takatoshi Kato, the deputy managing director of the International Monetary Fund (IMF).
Mark Carney replaces Dodge at the Bank of Canada
Mark Carney, the senior associate deputy minister of finance and a former head of Goldman Sachs in Canada, will become the youngest central bank chief in the G7 when he takes over from David Dodge as Bank of Canada governor in February 2008.