Speech
National Bank of Denmark chief says country should sign up to ‘more Europe’
Nils Bernstein warns that Denmark needs to maintain close integration with Europe or the country may find itself in a weaker position
Sri Lankan governor issues 21-point plan for bankers
Ajith Nivard Cabraal gives guidance on how banking operations should be monitored and upgraded throughout 2013
SNB will not abandon minimum exchange rate, Jordan says
Thomas Jordan reaffirms the Swiss National Bank’s commitment to a minimum of 1.2 Swiss francs to the euro; inflation expected to remain negative next year
Chile’s Vergara draws parallels between LatAm and eurozone crises
Governor of the Central Bank of Chile says Latin America’s sovereign debt crisis of the 1980s has similarities with current situation in eurozone; despite ‘lost decade’, better policies resulted
RBA’s Stevens addresses growing importance of policy spillovers
Australia’s Glenn Stevens says policy-makers are becoming increasingly aware of the need to consider the wider impact of domestic decisions, although discussion is in its infancy
RBI’s Sharma urges euro area rebalance
Reserve Bank of India executive director says current account imbalances are ‘inherently unsustainable’; periphery countries must pursue greater productivity and competitiveness
Bank of Mauritius chief calls for curb on ‘fishy’ banks
Rundheersing Bheenick says new guidelines on corporate governance and separation of international and domestic banking will help prevent ‘global infection’
Romanian governor dedicates Polish award to his forerunners
National Bank of Romania’s Mugur Isărescu receives Order of Merit from Poland for his contribution to the countries’ co-operation; reflects on Romania’s war-time assistance
Noyer trumpets Eurosystem response to crisis
Banque de France governor Christian Noyer believes the monetary policy adopted in the Eurosystem is a source of ‘immediate confidence and stability’
Danish governor laments lack of euro progress
Nils Bernstein says Europe will ‘muddle through’ the crisis, but is concerned that government’s grand promises are yet to deliver a practical solution
Malaysia’s Zeti urges greater harmonisation of Islamic finance
Zeti Akhtar Aziz says there is much common ground in different jurisdictions’ sharia interpretations, but a lack of understanding is holding back the growth of Islamic finance
Ingves defends position on rate-setting
Sveriges Riksbank governor insists in the absence of other instruments monetary policy should deal with potential risks of household indebtedness
BoJ’s Nishimura sees potential for $180 billion funding for lending
Under Bank of Japan’s ‘stimulating bank lending facility’, banks could receive up to 15 trillion yen ($180 billion) in low-cost funding, says deputy governor
MAS chairman says Islamic finance can exploit post-crisis landscape
Tharman Shanmugaratnam suggests weakness and deleveraging in conventional banking systems gives Islamic finance an opportunity to expand
ECB’s Cœuré champions accountability in Europe
Executive board member wants clear ‘network of responsibilities’ and advocates creation of a euro area treasury
Iceland’s Guðmundsson identifies flaw in banking union plans
Már Guðmundsson warns lack of foreign currency lender-of-last-resort provisions is an important omission from economic and monetary union plans
Austria’s Nowotny advocates new growth strategy for emerging Europe
Ewald Nowotny says explosive, capital-driven growth model has been discredited in the wake of the financial crisis; suggests more sustainable model is needed
BoJ’s Shirai examines link between demographics and monetary policy
Sayuri Shirai says the Bank of Japan has been forced to respond to the twin challenges of an ageing population and a string of economic crises, making monetary policy-making difficult
Estonian governor supports fast fiscal reform
Ardo Hansson discusses the merits of speedy reforms and budget balancing but warns mistakes can be made
ECB’s Cœuré wants structural co-ordination
Executive board member appeals for the cohesive implementation of Volcker, Vickers and Liikanen proposals
Zeti promotes Islamic finance expansion
Says the industry’s rapid growth is dependent on its ability to serve the real economy
Ireland’s Elderfield sees tension between micro and macro objectives
Deputy governor of the Central Bank of Ireland says micro-prudential emphasis on ‘more and faster’ capital requirements could fuel pro-cyclicality and harm debt sustainability
Bank Indonesia chief says economy strong despite signs of bubbles
Darmin Nasution says Indonesian growth rate ‘one of the highest in the world’, although signs of a property bubble may be emerging
Mongolian governor defends free capital accounts
Mongolia’s Naidansuren Zoljargal says financial contagion should be contained without abandoning the liberalisation of capital accounts