Governance
Draghi secures German backing for ECB presidency
Angela Merkel offers support for Mario Draghi to become the next president of the European Central Bank; says he is “interesting” and “experienced”
India should have monetary policy committee: Subbarao
Reserve Bank of India governor calls for full “legally-backed” autonomy for the central bank; necessary for the establishment of a monetary policy committee
Bair to leave FDIC in July
Federal Deposit Insurance Corporation chair Sheila Bair set to depart in the summer after five years at the helm
Rwanda promotes vice-governor
Claver Gatete, the vice-governor at the National Bank of Rwanda, is promoted to governor; former governor Francois Kanimba takes government role
Bini Smaghi favourite to next lead Bank of Italy
Analysts say European Central Bank executive board member Lorenzo Bini Smaghi is strong candidate to lead Bank of Italy should current governor Mario Draghi move to Frankfurt
EU governance reform falls short of quantum leap: Trichet
European Central Bank president Jean-Claude Trichet calls for less discretion to application of Stability and Growth Pact
Grameen Bank dodges Yunus departure by appointing Nobel Laureate as chairman
Bangladesh’s Supreme Court rejects appeal to dismissal of Nobel Laureate Muhammad Yunus from Grameen Bank; microlender appoints Yunus to chair its board instead
Estonia ousts deputy governors
Supervisory board rejects re-election of current deputy governors, new candidates already named
Barney Frank in bid to revoke regional Fed presidents’ FOMC votes
Former chair of House Financial Services Committee says regional Fed presidents shouldn’t vote because they are appointed by business, not Congress
SNB turns profit in first quarter following steep loss in 2010
First quarter profits likely to come as relief after criticism that greeted $20.7 billion loss in 2010
Weidmann takes over as Bundesbank chief
Jens Weidmann takes over as head of the Deutsche Bundesbank; signals support for rate “normalisation”
Bank Negara Malaysia sets up shop in Beijing
Bank Negara Malaysia signs agreement with People’s Bank of China to open representative office in Beijing
Mexico chooses new deputy governor
Bank of Mexico chief economist Manuel Ramos Francia appointed deputy governor
More change at the Bank of Lithuania
New deputy chairman of the board of the Bank of Lithuania appointed; in the same week as new governor starts
Co-founder of Central Banking dies
William Clarke CBE was a co-founder and former chairman of Central Banking Publications
Central banking both an art and science: Trichet
European Central Bank president Jean-Claude Trichet says policymakers need formidable analytical capacities and good judgement
Italy's Draghi seals Sarkozy's support for ECB job
French president Nicolas Sarkozy backs Bank of Italy governor Mario Draghi to succeed Jean-Claude Trichet as head of the European Central Bank
Kosovo’s acting governor to take helm of central bank permanently
Kosovo selects acting head of Central Bank of the Republic of Kosovo Gani Gërguri to replace former governor Hashim Rexhepi
Fed historian Meltzer scoops 2011 Bradley Prize
Author of definitive history of the Federal Reserve Allan Meltzer to receive a 2011 Bradley Prize
Role of Fannie, Freddie failure in crisis has been underplayed: ex-Fed’s Warsh
Recently departed governor Kevin Warsh tells Central Banking that decision to take government-sponsored enterprises into state ownership had significant ramifications
RBA governor ahead of HKMA chief on pay scale
Reserve Bank of Australia governor Glenn Stevens overtakes Hong Kong Monetary Authority chief executive as one of the highest paid central bank heads
Ex-Italy governor should face prison, says prosecutor
Italian prosecutor demands three-and-a-half year jail sentence for former Bank of Italy governor Antonio Fazio’s alleged involvement in failed Banca Nazionale del Lavoro takeover
BoE stability committee sets June date for first meet
Bank of England’s Financial Policy Committee to meet in mid-June; governor to hold press conference
Lithuania’s new governor outlines challenges ahead
Well-balanced, sustainable growth the priority, Vitas Vasiliauskas, new governor of the Bank of Lithuania, tells CentralBanking.com; plays down meeting Maastricht criteria