Governance
First regulatory co-operation council meeting held in New Zealand
Council of Financial Regulators meets; confidential discussions focus on identifying trends and issues and co-ordinating responses to them
South Korea advertises for new reserve manager
Bank of Korea seeks reserve manager; follows first gold purchase for years this summer
Germany names Asmussen as Stark’s successor
Germany’s finance minister, Wolfgang Schäuble, nominates his deputy Jörg Asmussen to replace Jürgen Stark on the European Central Bank’s executive board
Stark resignation marks turbulence at ECB
European Central Bank executive board member Jürgen Stark steps down as tensions flare in Frankfurt
Philadelphia Fed replaces inaugural Economic Advisory Council members
Teresa Bryce Bazemore, Cheryl Feldman and Edward Graham named as new Economic Advisory Council members
German courts stand by Greece bailout
Federal constitutional court rules Greece bailout as legal; clears way for establishment of eurozone bailout vehicle; says parliamentary budget committee must authorise future budgetary plans
Estonia governor race narrows
Supervisory Board cuts two candidates from the running; Ardo Hansson and Andres Sutt continue in battle to become next governor
Serbia reveals new deputy governor
National Bank of Serbia appoints Diana Dragutinović as deputy governor
Former chancellor criticises BoE’s King
Alistair Darling accuses Bank of England governor of not recognising the “scale of the problem” the UK faced as the financial crisis took hold
Buba’s Weidmann welcomes new president of Hanover branch
Stephan Freiherr von Stenglin is new president of regional branch; takes over from Werner Ehlers who retires
New York Fed announces two new directors
Glenn Hutchins and Terry Lundgren appointed as Class B directors
Vote now: Are central banks losing their independence?
CentralBanking.com is running a poll on whether central banks are losing their independence
Ireland unveils fitness and probity regime
Central bank releases regulations and standards concerning appointment of staff in financial services industry
Estonia reveals governorship candidates
Eesti Pank puts speculation to rest; announces four well-recognised candidates for role of governor
Korea passes revision to central bank legislation
Greatly enhanced financial stability responsibility awaits the central bank; large-scale reorganisation of staff will happen
Nepal launches polymer banknote graft investigation
Parliament demands report from finance ministry and Nepal Rastra Bank; latest country to delve into Australian companies' discrepancies
Allan Meltzer awarded Truman Medal
American economist Allan Meltzer to become only the fourth person to receive the distinguished Truman Medal for Economic Policy
EU no-bailout rule must be strengthened, says Buba
German Bundesbank says eurozone bailout reduces incentive to commit to sound fiscal policy; calls for strengthening of no-bailout rule in EU treaty
RBI’s Subbarao on scaling up corporate governance in emerging markets
Reserve Bank of India governor Duvvuri Subbarao says banks’ special role as financial intermediaries requires special corporate governance rules
Gono warns government against ‘firing harmful, verbal economic gunpowder’
Gideon Gono says no intention to withdraw foreign banks’ licences; rebukes Zimbabwean government for issuing warning of nationalisation
Interview: Jaime Caruana
Jaime Caruana, the general manager of the Bank for International Settlements, talks to Catherine Snowdon about the institution’s role in responding to the financial crisis
Asian Development Bank renews president’s term
Haruhiko Kuroda to remain as head of the Asian Development Bank for another five-year term