Central Banks
Belarus gets $3 billion bailout from Russia
Russia agrees $3 billion dollar bailout for Belarus
Crisis measures improved financial market conditions: Chicago Fed paper
Chicago Federal Reserve study shows Fed crisis measures led to significant improvement in financial market conditions
LIC Asia banks’ not isolated from crisis: IMF paper
Fund study identifies spillover effects from global financial crisis on low-income country banks in Asia
ESM will act as 'fire service' for euro area: ECB’s Constâncio
European Central Bank vice-president Vítor Constâncio says European Stability Mechanism will offer fire service in event of crises
Strauss-Kahn bows to pressure and quits
Dominique Strauss-Kahn resigns from his post as managing director of the IMF; continues to deny all allegations
Fed minutes reveal split over exit strategy
Minutes from Federal Open Market Committee meeting show division among ranks over monetary policy exit strategy
UK outlines strategy for new micro regulator
Prudential Regulation Authority will focus attention according to risk; new five-step strategy to capture key threats
Brazil creates Finance Stability Committee
Central Bank of Brazil creates Financial Stability Committee to supervise financial industry and manage systemic risk
Uganada’s Tumusiime-Mutebile on reforming debt markets
Bank of Uganda governor Emmanuel Tumusiime-Mutebile calls for greater participation of brokers in debt markets
ECB - Target2 Annual Report (2010)
European Central Bank Target2 2010 Annual Report says transaction values rose 7.6% for the year
Resolution regimes offer second line of defence: Sweden’s Ingves
Riksbank governor Stefan Ingves says resolution regimes should supplement macroprudential policy
Greece programme not working: IMF
IMF mission to Greece urges sovereign to undertake further budgetary measures; European official hints at soft restructuring
Negative impacts of too-big-to-fail regulation “unfounded”: SNB’s Jordan
Swiss National Bank vice-chairman Thomas Jordan says Swiss economy will not be adversely affected by too-big-to-fail regulation
IMF paper addresses asset shortages in emerging markets
Fund study says greater capital market development and regulatory reform can raise supply of financial assets in emerging markets
Asean countries no longer behind the curve: Singapore’s Menon
Monetary Authority of Singapore managing director Ravi Menon says Asean countries are no longer behind the curve on monetary policy
BoE minutes: little evidence of wage-price spiral forming
Bank of England minutes say high levels of inflation are not feeding into inflation expectations and wages
Europe must share blame for sovereign debt crisis: ECB’s Stark
Stark says European Monetary Union failures contributed to situations in Greece, Ireland and Portugal; calls for end to emergency stimulus policies
Slovakia falls €515 million into the red
National Bank of Slovakia Annual Report shows a €515 million loss for 2010 due to large write-downs on securities and derivatives
Azerbaijan working to improve banking sector
Helped by the IFC and the World Bank, central bank is training bank board members in oversight and risk management best practices
IMF could remove Strauss-Kahn from post if required
IMF rules allow for removal of managing director “when the executive board so decides”
Kohn apologises for financial crisis
Former Federal Reserve vice-chairman and external FPC member Don Kohn apologises for failures that led to financial crisis; says FPC will need to ensure new tools are not circumvented by markets
Interest rates can only dampen systemic risk: Norway’s Olsen
Norges Bank governor Øystein Olsen says interest rate rise could have dampening effect on build-up of systemic risks but price stability remains primary objective
Bernanke urges government to promote R&D
Federal Reserve chairman Ben Bernanke says government can support research and development by fostering better climate for private investment