Central Banks
Finland to close two cash distribution offices
Bank of Finland says it will shut its Tampere and Kuopio offices as cash distribution services are outsourced to private sector
Macedonia replaces governor
Dimitar Bogov, formerly vice-governor, takes over as governor of the National Bank of the Republic of Macedonia
IMF study on financial frictions in EMEs
Fund paper shows developing economies are more exposed to financial frictions than emerging markets
NY Fed’s Dudley urges collaboration in tackling global imbalances
New York Federal Reserve president William Dudley says imbalances in growth between United States and emerging economies are unsustainable in long term
Sweden’s Öberg calls for Riksbank to merge with regulator
Riksbank first deputy governor Svante Öberg says merging central bank with Finansinspektionen will aid task of safeguarding financial system
Private sector involvement in Greece may be harmful: ECB’s Bini Smaghi
European Central Bank executive board member Lorenzo Bini Smaghi says private sector involvement is fraught with complications
San Francisco Fed paper on merits of leaning against asset prices
San Francisco Federal Reserve study makes case for monetary policy to lean against asset price movements
Prudential rules ease procyclicality of bank lending: IMF paper
Fund study says rules to lower capital adequacy ratios offer relief to banks and distressed borrowers facing shocks
Bafin chairman pans European Banking Authority stress tests
European Union’s bank stress standards lack “legitimacy”, according to top German regulator
UK lawmakers highlight lack of market expertise on FPC
Treasury Committee labels Alistair Clark an “insider”; calls on Michael Cohrs to make more public pronouncements
Next year's IMF/ World Bank meet no longer in Cairo
IMF and World Bank Group to hold 2012 annual meetings in Japan; plans to meet in Egypt abandoned after unrest in the country
BIS data highlights US banks’ exposure to Greece
Bank for International Settlements data reveals United States’ heightened “potential exposure” to Greek default
Strauss-Kahn follows through with not-guilty plea
Ex-head of the IMF sticks to earlier rebuttal of charges and enters not-guilty plea; trial could take months
FDIC board creates Advisory Committee on Systemic Resolutions
New committee will advise on resolution of banks once categorised as "too big to fail"; first meeting later this month
Diamond abandons Fed ambitions
Peter Diamond pulls out of race to become the next Federal Reserve governor; says “shortcomings” in confirmation process and “fundamental misunderstandings” in conducting monetary policy to blame
ECB opens Brussels office
European Central Bank opens small Brussels office; staffed by only two people
Exit strategy communication key: Philly Fed’s Plosser
Philadelphia Federal Reserve president Charles Plosser says clear communication of Federal Reserve policy will be essential to exit strategy
Japan earthquake caused widespread risk retreat
Bank of International Settlements Quarterly Review June 2011 says Japan earthquake caused widespread but brief investor retreat to less risky assets
González-Páramo calls for greater transparency of rating agencies
European Central Bank executive board member José Manuel González-Páramo says regulators must ensure greater disclosure of rating agency processes