Eurozone
Wellink says Basel III to be phased in gradually in bid to soothe fears
Basel Committee chairman Nout Wellink says proposals on new regulations on banking will be introduced in an orderly manner; unrepentant on costs to growth
Market tensions prevail, Trichet warns
ECB president says financial sector still shows signs of stress despite the success of the central bank’s bond purchase program
RBA's Stevens warns of high indebtedness in households sector
Reserve Bank of Australia governor Glenn Stevens discusses lessons from Europe's debt crisis
Europe raring to go on CDS rules, bank taxes
Brussels praises the political dynamic behind move for tightened financial regulation as French president Nicolas Sarkozy and German chancellor Angela Merkel call on Commission to speed up work
Eurozone seals deal on bailout fund
European finance ministers come to agreement on bond guarantee facility to support continent’s crisis-hit countries; bond markets reassured by move
Kenya’s Ndung’u moves to allay fears over 'weakening shilling'
Kenyan central bank governor Njuguna Ndung’u says currency's ten-year low against dollar is a result of fallout from Greek crisis
G20 ditches controversial global bank tax
Finance ministers splinter on international banking levy, complicating individual countries’ promises to adopt a tax; group unites in call for Basel III to be completed by year-end
Sepa Council members meet for first time
Industry and central bank leaders meet to discuss end dates for migration and future of Sepa for cards at first official council meeting
Financial Stability Review – ECB
European Central Bank says bond purchase programme cut tail and contagion risk but eurozone governments have a sizable task ahead of them
German economic strength 'a fallacy': Charles Dumas interview
The Lombard Street Research chairman tells Credit the German economy is far weaker than has been supposed
German rumours of French pact with ECB display tensions
Coverage of German magazine article alleging European Central Bank's bond purchase programme was aimed at helping the French indicative of fertile breeding ground for conspiracy theories
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
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
ECB’s Bini Smaghi: Greece cannot default
ECB’s Lorenzo Bini Smaghi says an orderly default is simply not an option to solving Greece’s fiscal burden
China denies reviewing eurozone bond holdings
State Administration of Foreign Exchange dismisses reports that it is appraising euro asset holdings; follows surge in T-bill purchases last week
Bank's Posen on western economies turning Japanese
Bank of England rate-setter Adam Posen discusses relevance of Japan's deflationary experience to western economies today
ECB buys another €10 billion in government debt
Analysts split on whether second round of purchases with German ban on naked short spooks European markets
Spanish CDS spread jumps as four banks announce merger
Four regional savings banks announce merger after one ailing lender was seized and placed into administration by the central bank on Saturday; move plays into investor fear that banking sector is unsteady
Foreign holdings of US Treasuries fall for second straight week
Data show holdings of US Treasuries by foreign central banks with accounts at the Federal Reserve declined for a second successive week; use of swap lines lower than expected
Riksbank’s Persson: don’t shoot CDS ‘messenger’
The Swedish central bank uses CDS spreads as an indicator of financial stability
Berlin hastily bans naked CDS, short-selling
Supervisor places temporary ban on naked credit default swaps, eurozone bond short sales, citing market volatility; analysts say uncoordinated move is further sign of fragmentation within eurozone
Ten issues for regulators to consider
René Smits devises ten key issues that European financial legislators must consider when constructing the post-crisis regulatory framework
Emerging Europe keen on euro despite Greek debt woe
Central and Eastern European countries remain drawn to the single currency despite Greek troubles
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