Central Banks
Microenterprise development crucial to economic development: RBI’s Chakrabarty
Reserve Bank of India deputy governor, KC Chakrabarty talks about the importance of microenterprise development for progressing India’s economy
Euro project failed to deliver on convergence promise
Uneven and diverging competitiveness lies at the core of the euro crisis, says Costas Lapavitsas, professor in economics at the School of Oriental and African Studies in London
IMF and China make joint call for stronger financial stability assessments
People’s Bank of China and International Monetary Fund hold joint symposium in Shanghai; call for better financial stability assessments in Asia and worldwide
European uncertainty reflected in central bank decisions worldwide
Germany, Austria, India and South Korea lower growth estimates as a slew of countries hold interest rates; world looks on and waits to see if Europe can agree a solution to the sovereign debt crisis
Mood swings strongly influence business cycles: Dallas Fed paper
Dallas Federal Reserve study shows half of business cycle movements can be attributed to investor optimism and pessimism
Bank of Canada paper on capital control liberalisation in India
Bank of Canada study shows there has been a significant reduction in barriers to arbitrage in India
Ireland’s Gerlach optimistic about fiscal adjustments
Central Bank of Ireland deputy governor Stefan Gerlach says progress towards completing Ireland’s fiscal adjustment programme has gone better than expected
ECB will fulfil financial lender of last resort role: Constâncio
European Central Bank vice-president Vítor Constâncio says non-standard liquidity measures will help ease bank-funding pressures in eurozone
Avoid short-term ‘euphoria’ of excessive leveraging: HKMA’s Chan
Norman Chan, chief executive of the Hong Kong Monetary Authority, calls excessive leveraging the 'root cause' of the global financial crisis; tells of Asian experiences of crises
EBA finds €114.7 billion capital shortfall in Europe
European Banking Authority publishes recommendation and final results of bank recapitalisation plan; part of co-ordinated measures to restore confidence in the banking sector
Promotions and reappointments at the Chicago Fed
Federal Reserve Bank of Chicago announces new deputy chairman, reappointments of board chairman, two directors and Federal Advisory Council representative; also promotions in three internal groups
Bank Negara Malaysia MobileLINK bus begins tour
Malaysian central bank launches mobile customer service bus; part of efforts in promoting financial inclusion by extending the outreach programme to a wider community
Sluggish growth outlook forces ECB to take drastic action
European Central Bank lowers rates by 25 basis points as sovereign debt crisis weighs in on growth; Governing Council reveals new liquidity measures to ease funding conditions
Management of South African Mint Company suspended
South African Reserve Bank announces mystery 'technical issues' uncovered; top management suspended with immediate effect
Osborne to drive through BoE’s new supervisory powers
UK chancellor wants to drive through legislation granting the Bank of England statutory power for prudential supervision; ring-fencing left out of Financial Services Bill
US regulatory agencies issue new market risk capital rule proposals
US federal bank regulatory agencies remove references to rating agencies in new market risk capital rule proposal; change aids compliance with Dodd-Frank Act
Cœuré progresses towards ECB executive board membership
ECB Governing Council adopts Council of the European Union opinion and supports Benoît Cœuré to become a member of the executive board
Fiji governor calls for improvement in securities trading regulation
Barry Whiteside says international co-operation is needed to keep up with market developments in securities trading
Kamin confirmed as permanent replacement for Sheets at Fed
Steven Kamin is made permanent director of the Division of International Finance at the Federal Reserve Board; has been acting head since Nathan Sheets resigned in August