Central Banks
Estonia close to deciding on next governor appointment
Supervisory board nominates Ardo Hansson to take over from Andres Lipstok; Estonian president must now clear appointment
Treasury bills are superior liquidity instruments, says IMF paper
Fund study says Treasury bills are more secure than central bank bills in performing debt and liquidity management functions
Germany highly exposed to US and European contagion effects, says Buba paper
Bundesbank study finds strong contagious effects from the US and Europe, but no effects from the Asia-Pacific region and emerging markets on the German financial system
MAS's Menon calls on Asian countries to boost IMF resources
Monetary Authority of Singapore managing director Ravi Menon says Asian countries will need to contribute further to International Monetary Fund to enhance global safety net
Bahrain completes transition to Iban
Commercial banks in Bahrain will now use international bank account numbers as preferred method for international and domestic payments
Venezuela completes repatriation of gold reserves
Final shipment of 14 tonnes of gold arrives in Caracas; governor certain the central bank has the capabilities to protect the precious metal
Central Bank of Turkey predicts inflation target overshoot until 2013
Central Bank of Turkey says inflation will not return to 5.5% target until mid-2013; officials want to prevent "unfavorable fluctuations" in economic activity by acting too soon
Basel guidance on settlement risk delayed until June
Updated guidance on FX settlement risk from Basel Committee and CPSS was originally due by end of 2011, but now has an expanded remit
Risk-weighted assets proved useful indicator during crisis, says IMF paper
Fund study shows banks with lower risk-weighted assets were able to weather the recent financial crisis better than those with more risky assets
NY Fed paper sheds light on causal determinants of inflation expectations
Federal Reserve Bank of New York study says consumers may be revising their inflation expectations in response to inaccurate information
RBI’s Mohanty discusses limitations of capital controls
Reserve Bank of India executive director Deepak Mohanty says India’s external debt service position has improved, but country’s external position remains vulnerable
FSB regional group discusses policy responses to eurozone crisis
Commonwealth of Independent States hold first regional FSB consultative group meeting; members including Russia and Ukraine discuss possible policy actions to counter eurozone crisis
Bollard to leave Reserve Bank of New Zealand
Alan Bollard will not seek a third term as governor; Reserve Bank board to include candidates from abroad in search to replace him
Cyprus central bank pay freeze passes ECB scrutiny
European Central Bank says Cypriot public sector wage freeze does not threaten the central bank’s ability to perform its tasks independently from government
Precautionary motives drive rapid build-up of reserves in EMEs, says IMF paper
Fund study shows stockpiling of international reserves in emerging markets are motivated by insurance against capital account, rather than current account shocks
Malaysia’s Zeti encourages stronger economic ties with India
Bank Negara Malaysia governor Zeti Akhtar Aziz says potential for further collaboration between India and Malaysia is “tremendous”
BoE report captures impact of QE policy
Bank of England’s Asset Purchase Facility report shows government bond yields and market spreads eased as a result of the central bank’s stimulus measures
Switzerland investigates need for ‘more specific’ insider trading rules
Head of legal services at the Federal Confederation explains the investigations under way into the circumstances that ultimately caused Philipp Hildebrand to resign as governor of the Swiss National Bank
State Bank of Pakistan warns on ‘deteriorating’ budgetary conditions
State Bank of Pakistan quarterly report says government fell short of budget target last year; warns drying up of foreign direct investment could leave economy vulnerable
Lithuanian central bank becomes victim of a cyber attack
Bank of Lithuania's website hit by hackers; days after Central Bank of UAE experienced a similar attack