Central Banks
Fed’s Duke explains link between personal finance and national economy
Elizabeth Duke discusses how improving individual financial stability would ultimately build a stronger economy in the US
India faces ‘significant’ inflation challenge
Macroeconomic and Monetary Developments review outlines action taken in recent months and describes challenge of bringing down inflation to an acceptable level on a sustainable basis as “significant”
BoE's Tucker: weak CCP recovery plans risk mayhem
Panellists at an EC conference in Brussels warn CCPs have made little progress on detailed survival plans - leaving the system exposed, according to Bank of England deputy governor
Developing country scoops currency award
Ugandan shilling wins 2011 Best Series Award from International Association of Currency Affairs
Italy’s Visco wins governor nomination in surprise twist
Italian prime minister takes unexpected step by naming Bank of Italy deputy director-general Ignazio Visco as governor ahead of three frontrunners
Norges Bank proposes amendments to collateral framework
Norges Bank announces plans to increase haircuts on collateral held at central bank from 4% to 9% to reduce exposure to counterparty risk
BIS’s Cecchetti highlights merits of G-sibs surcharge
Bank for International Settlements economic adviser Stephen Cecchetti says reducing probability of G-sibs failing is cornerstone of regulatory response to too-big-to-fail
Bank of Canada paper captures hot potato effect of inflation
Bank of Canada study finds evidence of hot potato effect in buyers’ spending patterns in response to higher inflation
IMF paper identifies risk-sharing, contagion trade-off in Asia
Fund study shows risk sharing in Asia is found to be low between countries in the region compared with contagion effects
Canada to consider new policy goals for central bank
House of Commons will hold at least one meeting to discuss broadening monetary policy targets for the central bank; 2% inflation level has been the primary goal for 20 years
Interview: George Milling-Stanley
As George Milling-Stanley leaves his role as managing director, government affairs at the World Gold Council, he summarises gold market trends and its role in central banks' reserve portfolios
Turner warns of capital requirements dilemma
FSA chair Adair Turner insists on the consideration of counter-cyclical macro-prudential policies in the run-up to regulatory structure overhaul
FSB sets out framework for monitoring implementation of financial reforms
Financial Stability Board announces co-ordination framework for implementation monitoring of G20/FSB financial reforms; priority areas set for extra scrutiny
US watchdog spots conflict of interest with Fed director roles
US Government Accountability Office identifies three examples where senior bank executives may have benefited from their positions on regional Federal Reserve boards
RBA’s Edey assesses future global CCP model
Reserve Bank of Australia assistant governor Malcolm Edey warns abstract model of central clearing pictured by G-20 leaders may not be realised in practice
Bundesbank’s Dombret backs temporary higher capital buffers for European banks
Bundesbank’s executive board member Andreas Dombret says 9% core tier 1 capital for systemically important banks is feasible
Bini Smaghi in line for top Italian central bank job
European Central Bank executive board member Lorenzo Bini Smaghi is expected to be selected as the next governor of the Bank of Italy
Trichet calls for EU executive branch in farewell address
Outgoing president uses farewell speech to express personal opinion on the need for an EU executive branch; body would have powers in three key areas
Brazil offers scant explanation for rate cut
Monetary Policy Committee’s brief statement cuts benchmark interest rate in Brazil; policymakers say “more restrictive global environment” is reason behind decision
Emerging market monetary policy is a balancing act: Sarb’s Mminele
South African Reserve Bank deputy governor Daniel Mminele says monetary policy is delicate balancing act in current environment of elevated inflation risks and slow global growth
China banking regulator talks of reform ‘determination’
Liu Mingkang says rating agencies and analysts “underestimate” China’s determined reforms to the banking sector; warns of shadow banking clamp down
Bank minutes show MPC considered larger stimulus
Bank of England Monetary Policy Committee minutes show that size of asset purchases could increase if inflation is forecast to fall below target in medium term