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EU stress tests detail exposure to Piigs debt
Stress tests show which banks are heavily exposed to riskiest sovereigns
UK lawmakers launch inquiry into regulatory revamp
Influential Treasury Select Committee says it will launch investigation of government plans for new regulatory structure
Goodhart: Anglo-Saxon model of banking is flawed
Bank of England former MPC member Charles Goodhart says Asian model of banking is better suited to staving off crises
ECB: Crisis amplified monetary policy channels
European Central Bank study on credit channels finds the financial crisis amplified the impact of monetary policy on the economy
Albania’s Fullani sees green shoots in lending
Bank of Albania governor Ardian Fullani says banks still need to be more proactive
BIS: Top-down approach to countercyclical capital buffers preferred
Bank for International Settlements paper on capital buffers says a bottom-up approach is more favourable to a top-down as bank specific factors neglect variable differences in capital structures of firms
Kosovo’s governor arrested
Kosovo central bank governor Hashim Rexhep arrested on alleged corruption charges, central bank to be investigated
PBoC, MAS agree $22 billion currency swap
Arrangement follows similar swaps between China and seven other countries
Maiden Lane chief to head NY Fed banking supervision from 2011
New York Fed’s Sarah Dahlgren to replace William Rutledge as head of supervision; Rutledge to retire in December
Former HKMA head Yam set to join UBS board
Swiss investment bank UBS nominates HKMA former chief executive Joseph Yam as candidate to its board of directors.
Bank of Italy: north hit hardest by crisis
Bank of Italy study says geographical differences in growth reflects dependence on industry
BIS: Inflation targeting only one option
Bank for International Settlements study says inflation targeting is not necessarily the only prescription for price stability
Bank of Albania: country has seen double digit FDI growth
Albanian central bank monetary policy statement says foreign direct investment rose by double digits in 2008
Lending in Japan remains subdued: BoJ survey
Bank of Japan survey on bank lending reports continued weakness in demand for loans by firms
Dodd-Frank starts to bite as Obama signs bill into law
US President Barack Obama draws a line under year-long legislative process, hailing bill’s benefits to consumers; ratings agencies flustered by exposure to ‘expert liability’
ECB will always end up bailing out sovereigns: Buiter
Former Bank of England rate-setter Willem Buiter says ECB will lose in “game of chicken” with finance ministries over who rescues sovereigns
Hungary prepares bracing bank tax, wage caps
Hungarian parliament set to approve hefty bank levy to shear budget deficit; public sector wage freeze will affect central bank employees, despite ECB protests
Laos to liberalise cross-border transactions
Laos notifies IMF that it accepts plans to adopt measures that will end restrictions on international payments and transactions
US deposit insurance ceiling permanently raised to $250,000
Dodd-Frank law makes temporary $250,000 limit permanent; Federal Deposit Insurance Corporation says new law will apply retroactively
Faulty paper halts note production at De La Rue
Banknote printer De La Rue suspends production at its Hampshire plant owing to paper fault; shares plummet on company statement that 2010 production and sales will be affected
BoE: UK consumer confidence continues to slump
Bank of England field survey on business conditions shows consumer sentiment slightly weaker in second quarter of 2010 as sales declined
BoJ’s accommodative policy will be consistent, say minutes
Bank of Japan minutes show central bank will press ahead with accommodative polices to tackle deflation in economy
Japan’s Yamaguchi apprehensive of Asian expansion
Bank of Japan deputy governor Hirohide Yamaguchi says emerging economies must be aware of overheating
RBA’s Stevens: Economic downturn will have long lasting implications
Reserve Bank of Australia governor Glenn Stevens says financial crisis will have longer lasting impacts to advanced economies