Governance
US watchdog spots conflict of interest with Fed director roles
US Government Accountability Office identifies three examples where senior bank executives may have benefited from their positions on regional Federal Reserve boards
Bini Smaghi in line for top Italian central bank job
European Central Bank executive board member Lorenzo Bini Smaghi is expected to be selected as the next governor of the Bank of Italy
Trichet calls for EU executive branch in farewell address
Outgoing president uses farewell speech to express personal opinion on the need for an EU executive branch; body would have powers in three key areas
State Bank of Pakistan’s acting head stays on as governor
State Bank of Pakistan acting governor Yaseen Anwar becomes third governor in less than a year and a half to head the central bank, after taking role on permanent basis
Eurobonds not the solution for sovereign debt crisis: ECB’s Stark
European Central Bank executive board member Jürgen Stark says reforms to eurozone fiscal governance should come before introduction of common bond
FDIC appoints new director of division of finance
Craig Jarvill has temporary role as director of the division of finance made permanent
IMF's Min opens latest Technical Assistance Centre
International Monetary Fund deputy managing director Min Zhu inaugurates new technical assistance centre in Mauritius
RBNZ’s Bollard discusses earthquake contingency plans
Reserve Bank of New Zealand governor Alan Bollard outlines emergency measures adopted by central bank in preparation for future natural disasters
India adds two more members to board of directors
YH Malegam and MV Rajeev Gowda appointed as directors; announcement follows the seven new members added last month
Colleagues rate Trichet’s performance as chief as ‘good’
Trade union asks ECB staff how outgoing president handled European crisis; questions regarding internal management produce interesting results
Egypt banishes bankers from board of directors
New central bank law means bank employees cannot serve on the board; number of members of the board of directors will be reduced
Debt fears rise as Italian prime minister wins confidence vote
Italian prime minister Silvio Berlusconi wins vote of confidence in parliament as concerns grow over his government's ability to fulfil its fiscal consolidation package
Australian regulator appointed secretary-general to Basel Committee
Basel Committee names executive general manager of Australian Prudential Regulation Authority Wayne Byres to replace Stefan Walter as secretary-general
Euro area economic governance reform package inadequate: ECB’s Stark
European Central Bank executive board member Jürgen Stark says euro area economic governance reform package falls short of quantum leap
Hansson pips Sutt to Estonia governor seat
World Bank economics chief Ardo Hansson narrowly beats rival Andres Sutt in race to become Bank of Estonia governor
Ex-UK chancellor calls for disbandment of Bank's Court
UK former chancellor of the exchequer Alistair Darling launches scathing attack on Bank of England's governance framework; says the Bank's Court should be broken up
Kuwait and China agree on deeper cooperation
Kuwaiti finance minister holds talks with Chinese representatives of central bank and sovereign wealth fund; agree on heightened cooperation
Israel completes appointments to new rate-setting body
Israeli government confirms appointment of three external members to Bank of Israel’s new Monetary Committee; rate-setting body due to vote in October
Kenya’s Ndung’u calls for policies to stimulate competition
Central Bank of Kenya governor Njuguna Ndung’u says increased transparency and growth can be achieved through policies promoting competition and financial innovation
Central banker takes over as Labuan Financial Services Authority director
Encik Ahmad Hizzad bin Baharuddin takes over as head of the Labuan FSA; leaves role as director of Bank Negara Malaysia's Islamic banking and takaful department
US watchdog highlights discrepancies in Fed emergency programmes
US Government Accountability Office says Fed on occasions failed to properly document processes and decisions during crisis; says opportunities exist to strengthen risk management practices
Peruvian president reappoints governor and chooses new board members
Julio Velarde retains governorship of the Central Bank of Peru; three university professors designated as board members
EU lawmakers agree on Stability and Growth Pact overhaul
Enhanced Stability and Growth Pact gets approval of European Council and Parliament; European finance ministers clear Asmussen for ECB executive board