Central Banks
RBI’s Subbarao: IMF capital control proposals lack flexibility
Reserve Bank of India governor Duvvuri Subbarao says IMF proposals on capital controls leaves little room for policymakers to exercise discretion
RBA minutes: impact of Japan quake on exports temporary
Minutes from Reserve Bank of Australia monetary policy meeting show disruption in exports to Japan expected to be temporary
Algeria’s Laksaci warns against advanced economy risks
Bank of Algeria governor Mohammed Laksaci says sluggish growth in advanced economies is creating uncertainty over global recovery
Lehman crisis could have been averted with Dodd-Frank: FDIC
Federal Deposit Insurance Corporation report says orderly resolution powers in Dodd-Frank Act could have allowed for orderly wind-down of failed investment bank Lehman Brothers
Officials gather in DC for IMF/World Bank spring meet
IMF/World Bank spring meetings address global economy and financial stability, governance progress and Japanese disaster
Ireland’s central bank failed to alert regulators to mounting crisis: banking report
Ireland’s Commission of Investigation into banking crisis says Central Bank of Ireland missed opportunities to alert regulators to impending risks in banking sector
Denmark hires assistant governor, promotes two department heads
Jens Lundager returns to central bank as assistant governor and head of financial markets; Karsten Biltoft and Frank Nielsen promoted to director level
Ethiopia’s Atnafu calls IMF to sharpen focus on LICs
National Bank of Ethiopia governor Teklewold Atnafu calls for Fund to scale up resources in lower-income countries
Capital constraints limits firm productivity: BoE paper
Bank of England study shows recession in United Kingdom limited firms’ ability to finance production costs
Portfolio correlation bias poses systemic threat: IMF paper
Fund paper finds evidence of systemic threat associated with correlation bias in allocation of investment funds
Malaysia’s Jaganathan highlights importance of supervision on insurance firms
Bank Negara Malaysia assistant governor Donald Jaganathan says insurance firms are not insulated from uncertainties of financial system
Asian Development Bank chief wants another term
Haruhiko Kuroda, the president of the Asian Development Bank, intends to run for re-election
Brazil slams IMF proposal on capital controls
Brazil’s finance minister Guido Mantega rejects IMF proposals for establishment of framework on capital controls; attacks Fund’s laissez-faire policy on capital movements
Standard & Poor's changes US outlook to negative
Ratings agency cites growing deficit and debt as rationale behind the change
China agrees $3.83 billion currency swap with New Zealand
People’s Bank of China and Reserve Bank of New Zealand sign $3.83 billion currency swap deal to further facilitate renminbi trade
South Africa’s chief banking regulator to retire early
South African Reserve Bank’s Errol Kruger to leave in the summer
China raises banks' required reserves again
China hikes reserve requirements once more; from April 21 banks must retain 20.5%
G-20 agrees guidelines to identify imbalances
G-20 representatives move forward with plans to establish guidelines to measure economic imbalances
Chicago Fed’s Evans warns against leaning on asset-price bubbles
Chicago Federal Reserve president Charles Evans says use of monetary policy tools to address systemic stability will burden Fed’s dual mandate
PboC’s Yi warns advanced economies about risks to recovery
People's Bank of China deputy governor Yi Gang says advanced countries should not lose focus on growing vulnerabilities in financial sector
IMF’s Strauss-Kahn fears mounting social crisis
IMF managing director Dominique Strauss-Kahn says high unemployment and inequality risk developing into social crisis
FSB reviews OTC reform
Financial Stability Board progress report says implementation of OTC derivative reform varies across countries
Greek budget cuts raise default concerns
Markets prepare for the worst as Athens unveils new tougher austerity measures; IMF managing director Dominique Strauss-Kahn says cuts are necessary