Central Banks
Central Bank of Iraq signs off plan for new headquarters
Central Bank of Iraq finalises agreement with Zaha Hadid Architects to design new office headquarters in central Baghdad
Central banks find novel uses for old banknotes
Central Bank of Ireland makes old notes into artwork; National Bank of Hungary offers the decommissioned banknotes to charities to burn for heating purposes
Shirakawa warns against renewed risk of spillover effects from Europe
Bank of Japan governor Masaaki Shirakawa says Asian banks should pay careful attention to deleveraging by European financial institutions; calls for further efforts to develop corporate bond markets in the region
Azerbaijan central bank deputy governors up for reappointment
Candidates for roles of first and two other deputy governors revealed as existing board members; appointments require full parliamentary support
EBA makes first assessment of banks’ capital plans
European Banking Authority receives recapitalisation plans from majority of banks highlighted in capital shortfall assessment; confirms no EU-wide stress test until 2013
Stock markets react strongly to news about Greek bailouts, says Netherlands Bank paper
Netherlands Bank study says news about Greek bailouts rather than Greek fundamentals have a significant effect on bank stock prices
SF Fed’s Williams supports buying-up mortgage-backed securities
Federal Reserve Bank of San Francisco president John Williams says restarting the Fed’s programme of purchasing mortgage-backed securities is the best way to boost the US economy
ECB approves collateral eligibility criteria of seven Eurosystem central banks
European Central Bank leaves interest rates unchanged but confirms plans to relax collateral criteria for credit claims at seven Eurosystem central banks, including Banque de France
BoE boosts QE by £50 billion
Bank of England increases the size of its Asset Purchase Programme to £325 billion as forecasts show inflation in the UK is likely to undershoot its target in the medium term
Brazil deputy governor positive about economic future
Aldo Mendes says Brazil is prepared to face global economic deterioration; expects to see final growth figure of 3% for 2011 announced soon
SNB announces year-long delay on new banknotes
Problems with suppliers mean the new Swiss banknotes will not enter circulation until the end of 2013 at the earliest; latest hiccup in long process of renewing the currency
Ukraine deputy governor resigns
National Bank of Ukraine quietly replaces Volodymyr Krotiuk as deputy governor; offers no explanation as director of financial department takes over the role
Canada’s Macklem supports greater autonomy for FSB
Bank of Canada senior deputy governor, Tiff Macklem, says expansion of resources at Financial Stability Board will enable it to better co-ordinate, monitor and assess financial reforms
Central Bank of Ireland searching for new headquarters, says Honohan
Central Bank of Ireland governor Patrick Honohan says central bank is looking to move from headquarters at Dame Street tower, but expects to retain building despite unwelcome presence of protesters
Emerging markets benefited from solid balance sheets, says BIS paper
Bank for International Settlements study says Latin American and Asian countries experienced more sustainable levels of credit growth due to healthy balance sheets pre-crisis
Former BoE policy-makers discuss QE and financial repression
Andrew Sentance joins Fathom Monetary Policy Forum for the first time; joins Rachel Lomax and Ian Plenderleith to discuss quantitative easing and financial repression
EPC outlines new models for mobile payments
European Payments Council requests feedback on new model for contactless and remote mobile payments in Europe; focuses on the preferred type of secure-elements technology used in mobile phones
Malaysia and China extend currency swap arrangement
People's Bank of China and Bank Negara Malaysia renew and expand currency swap arrangement, designed to facilitate greater bilateral trade and investment
Norges Bank announces end date for public to exchange old banknotes
Norwegians have until November 2012 to exchange old series of banknotes before they are rendered worthless, 11 years after new currency series was introduced
The Fed’s flawed PCE inflation targeting regime
The Fed’s move to adopt inflation targeting (IT) was long expected. But economists Peter Warburton and Joanna Davies say the US central bank will be targeting inflation on its own terms
Rapid credit growth in Asia driven by domestic factors, says IMF paper
International Monetary Fund study says domestic monetary policy can play a pivotal role in managing credit growth in emerging Asian markets