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China not manipulating renminbi: US Treasury
Beijing has avoided a devaluation of the renminbi in recent months, the United States Treasury acknowledged on Wednesday, though it still believes the currency to be undervalued.
Beige Book points to slowing downturn
The Federal Reserve's Beige Book, a survey of economic conditions compiled by the 12 regional Feds, has provided further evidence that the rate at which the United States economy is shrinking is falling.
IMF sees severe recession, slow recovery ahead
The International Monetary Fund (IMF) has predicted the world is in for a long and severe recession, though the global policy response could help spur a recovery.
Bosnia eases reserve requirements
The Central Bank of Bosnia and Herzegovina on Thursday moved to relax its monetary stance in a bid to encourage banks to lend more.
Risk management to include parameter uncertainty
Risk-management systems should account for parameter uncertainty, a new paper from the Bank for International Settlements posits.
Buba's Weber against new European authorities
The Bundesbank is strongly against the De Larosiere report's proposition to create new European authorities out of the three Lamfalussy committees, said Axel Weber, the president of the central bank.
India wants to attract overseas bankers
Highly-skilled people from abroad are now available at a reasonable cost in view of employment cuts abroad and may propel India towards high-speed growth in all the sectors, said Shyamala Gopinath, the deputy governor of the Reserve Bank of India.
Czechs criticise De Larosiere report
The De Larosiere report fails to take account of the need for one regulator to cover supervision of all sectors of the financial market, says a position statement from the Czech National Bank.
More easing needed in New Zealand: OECD
The Reserve Bank of New Zealand should cut its policy rate by a further percentage point to 2% in order to stimulate the domestic economy, said the Organisation for Economic Cooperation and Development (OECD) on Thursday. The views contrast with those…
De Grauwe labels Maastricht rules political tools
The Maastricht criteria for euro adoption are political instruments, not economically-vital measures, a respected economist has said.
G20 working group: development banks must lend now
Multilateral development banks and other international financial institutions should step up their counter-cyclical efforts to offset capital flight from emerging markets, says a report from a working group prepared for the G20 London summit.
Blame technology for bankruptcies
Technological progress has a significant effect on the bankruptcy rate, a new paper from the Richmond Federal Reserve posits.
SA's Mminele on Southern Africa's goals
The Southern African Development Community's goal is to achieve a single currency and a regional central bank by 2018, said Daniel Mminele, an executive general manager of the South African Reserve Bank.
Bernanke sees shoots of recovery
There are tentative signs that the sharp decline in economic activity may be slowing, said Ben Bernanke, the chairman of the Federal Reserve.
US working on stress-test disclosure: report
Washington is working on proposals to disclose the results of its stress tests on the 19 biggest American banks, say reports.
Fed planning communication enhancements: reports
The Federal Reserve looks set to bow to political pressure and disclose more details of its various attempts to tackle the crisis, which have led to the central bank's balance sheet more than doubling in size.
Tokyo seeks meeting with Shirakawa on economy woe
A senior Japanese politician has called for a meeting with Masaaki Shirakawa, the governor of Bank of Japan, apparently to ask the central bank to do more to abate the economic downturn.
Fiji sacks Narube and devalues dollar
The Reserve Bank of Fiji devalued the Fiji dollar by 20% on Wednesday hours after Savenaca Narube, the governor, was removed from the central bank by government officials.
Crisis highlights shortfalls in UK payments: BoE
The financial crisis has uncovered uncertainties and knowledge gaps among market participants in the United Kingdom's payment and settlement infrastructure, the Bank of England said on Tuesday.
Pyramid firms have more debt
Controlling shareholders in pyramid firms, a structure where an ultimate owner uses indirect ownership to maintain control over a large group of companies, use debt to secure their private benefits, new research from the Bank of Canada posits.
G20 working group: amend Bretton Woods governance
Emerging and developing economies should have greater voice and representation in Bretton Woods institutions, says a report from a working group prepared for the G20 London summit.
Monies contain embedded options
The face values of all notes and coins contain embedded options, argues a new paper written by Espen Gaarder Haug and John Stevenson, two quantitative-finance analysts.
Iceland's Oygard optimistic on recovery
Svein Oygard, the new governor of the Central Bank of Iceland, is confident that the country can become an exemplar of how to conduct a swift economic recovery.
Tarp to get new head, Goldman to repay funds
Reports emerged on Tuesday that the head of Fannie Mae would replace Bush-administration appointee Neel Kashkari as the overseer of the Troubled Asset Relief Program (Tarp). The news came after Goldman Sachs announced on Monday a $5 billion public…