Governance
Central bankers need to address problem of ‘groupthink’, says Shiller
Members of central bank committees need to dig deep to assert their ‘moral commitment’ and actively avoid falling into the trap of ‘groupthink’ when making decisions, says economist Robert Shiller
Ingves says Europe not ready for common regulatory capital rules
Basel Committee chairman Stefan Ingves says Europe lacks necessary common legal powers and mechanisms to standardise regulatory capital treatment; advises Europe against introducing a Tobin tax
Estonian governor awarded termination payment
Andres Lipstok will receive a full year’s salary when he leaves the Bank of Estonia next month; payment awarded in recognition of contribution to successful management of the central bank
Kansas Fed president supports bankers on boards of directors
Esther George says there is a place for bankers on Federal Reserve Bank boards of directors; but if they contravene the code of conduct, they should resign
BoE’s Bailey debunks ‘dangerous’ free banking myth
Andrew Bailey says reform of UK banking sector is needed to include upfront charges on banking services; calls current supposedly free in-credit banking a "dangerous myth"
Euroclear announces new chairman
Marc Antoine Autheman elected to take over as chairman from January 1, 2013; becomes deputy president in the meantime
Malta governor reflects on turbulent eurozone
The governor of the Central Bank of Malta speaks on economic challenges in the eurozone; focuses on improving regulation and competitiveness to promote long-run growth
New deputy governor for State Bank of Vietnam
Vietnamese prime minister appoints Dao Minh Tu; joins five other deputy governors at the central bank
Posen to leave Bank of England’s MPC
Adam Posen will not seek reappointment to Bank of England’s Monetary Policy Committee; takes on role as president of Peterson Institute of International Economics
US Senate confirms new Federal Reserve Board members
Jeremy Stein and Jerome Powell secure bipartisan support from members of Congress to be confirmed for positions on Federal Reserve Board
ECB article explains Eurosystem financial reporting
Monthly bulletin offers overview of Eurosystem’s financial reporting and accounting; says public interest in financial statements is growing
Brazil to reveal rate-setters'votes
Central bank board approves amendments to law governing the institution aimed at increasing transparency; quarterly inflation report also to begin being published
Robert Shiller on central banks and their role in a good society
Through co-ordinated action central banks have played a vital role in avoiding financial armageddon. But Robert Shiller tells Christopher Jeffery that more joined-up thinking is required
System risk lessons from FX loans in Central and Eastern Europe
The build-up of forex loans in the CEE presented a systemic challenge to the region's financial stability. Piotr J Szpunar argues this points to a need for macro-prudential rules in Europe
Berlin and the Bundesbank in spat over IMF
The Bundesbank has played a pivotal role in building Germany’s reputation as defender of monetary discipline at the IMF. But Berlin’s efforts to bail out Greece have damaged this reputation
Reserve Bank of India threatened by government’s economic policies
The Reserve Bank of India had a ‘good crisis’ and has earned a strong reputation for integrity and pragmatism during the past 15 years. But its efforts are threatened by current economic policy
Collateral eligibility: the ultimate macro-prudential policy weapon?
The most potent policy weapon at the disposal of central banks when it comes to fulfilling macro-prudential supervision are asset eligibility rules, says William Allen
Book notes: Soft Law and the Global Financial System
An explanation of the role of international standards in regulating the global financial system
ECB honours González-Páramo as police remove protestors
ECB holds event to celebrate work of José Manuel González-Páramo during his term as a member of the executive board on the same day a protest camp is cleared from outside the building
Saudi Arabia’s Al-Mubarak tackles money laundering
Governor of Saudi Arabian Monetary Agency says preventing money laundering crimes and countering terrorism financing are high priorities for international society
Central Bank of Ireland’s McMahon lands at UK accountancy firm
Former head of financial institutions at Central Bank of Ireland appointed global head of bank regulation and restructuring at accountancy firm, Mazars
National Bank of Ukraine publishes Encyclopaedia of Banking
First in a set of books explaining the banking system in Ukraine is released; series forms part of the celebrations of the central bank’s 20th anniversary
FDIC announces departure of general counsel
Michael Krimminger set to leave Federal Deposit Insurance Corporation later this month; joins Washington, DC law firm