Central Banks
Iceland splits financial stability and payments department
Central Bank of Iceland splits financial stability and payments group into two distinct units to improve function; new director hired for financial stability department
Robert Jenkins appointed to interim Financial Policy Committee
Robert Jenkins approved by Treasury Committee to join interim FPC
High inflation risks further trend drift: Fed paper
Federal Reserve study shows above-average inflation levels have led to periods of uncertainty over trend inflation
Greek debt value halved after marathon EU discussions
New Europe crisis resolution deal brokered overnight in Belgium; EFSF extended, Greek debt cut, banks’ capital to rise and governance increased
Lira strengthens as Turkey cuts reserve ratio
Central Bank of Turkey continues battle with falling lira and reduces its reserve requirement ratio by 210 basis points
Governments must ‘earn’ quasi-risk-free status: BIS’s Hannoun
Bank for International Settlements deputy general manager Hervé Hannoun says advanced economy governments can earn back quasi-risk-free status through prudent fiscal policy
Interview: Yaseen Anwar
The new governor of the State Bank of Pakistan tells Yusuf Yassin about the role he wants the central bank to play in the development of physical and financial infrastructure
Indonesia announces deputy governor candidates
Four candidates named for two deputy governor posts; parliament passes bill creating new financial services authority
Stark to remain on ECB executive board until January
Jürgen Stark agrees to stay on at the European Central Bank until Jörg Asmussen’s term begins in January 2012
Visco confirmed as Bank of Italy governor
Bank of Italy’s Ignazio Visco promoted to governor following confirmation by Italian president Giorgio Napolitano
Draghi open to further bond purchases
Bank of Italy governor Mario Draghi says tools for immediate implementation of unconventional measures are necessary for crisis management
European Payments Council raises concerns over Sepa regulation
Representatives from Europe's payments industry say European Union proposals for Sepa regulation are an attempt to abolish preferred direct debit model in region
Korea and China renew currency swap deal early
People’s Bank of China and Bank of Korea agree to renew and expand currency swap arrangement; also discuss converting swap currencies into reserves
Bundesbank accelerates Weber’s UBS start
Bundesbank permits Axel Weber to take on role as an “adviser” to UBS three months early; investment bank needs him to help fill top management void after scandal
Estonia sounds clear warning on Europe crisis contagion
Eesti Pank says strain is growing in Estonia as eurozone crisis spreads to other areas of the region; asks banks to pay close attention to capital levels
New regulatory initiatives pose stability risks: National Bank of Austria paper
National Bank of Austria study says overdose of Tobin tax can lead to severe instability of financial system; ban on short selling increases tail risk