Central Banks
Budapest sets sights on Hungary’s rate-setting council
Hungarian government seeks amendment giving a parliamentary committee full control over majority of appointments to central bank’s Monetary Council
Tombini named new governor of Brazilian central bank
Central Bank of Brazil deputy governor Alexandre Tombini to replace current governor Henrique Meirelles
Russia advances Canadian dollar position
Bank of Russia will increase holdings of Canadian dollar denominated assets to diversify foreign exchange reserves
ECB’s Tumpel-Gugerell urges further reform in eurozone
European Central Bank executive board member Gertrude Tumpel-Gugerell calls for eurozone countries to avoid complacency and improve governance structures
IMF: financial innovation has spillover effects on public information
Fund study shows financial innovation reduces incentive to collect private information and increases likelihood of liquidity shocks
Svensson attacks Sweden’s monetary policy framework
Riksbank deputy governor Lars Svensson finds "problem" with use of repo rate to address financial stability; favours sole focus on inflation targeting
Fed officials mooted alternative policy frameworks
Federal Open Market Committee members discussed altering monetary policy communications and targets ahead of November meeting
Meirelles to step down at the end of the year
Central Bank of Brazil governor Henrique Meirelles will leave central bank at end of year as President-elect Dilma Rousseff seeks change at central bank
De La Rue set to name new chief executive
Former Chloride president Tim Cobbold is “preferred candidate”; news comes after company says paper scandal has had “significant” impact on revenues
Norges Bank: universal banking enhances development of corporate debt markets
Norges Bank study shows that universal banking model promotes successful securitisation of corporate debt markets
Fed’s Lacker warns of elevated inflation expectations
Richmond Federal Reserve president Jeffrey Lacker says using monetary policy to address unemployment risks permanently elevating inflation expectations
Neglecting financial stability was Bank’s biggest mistake: FSA’s Sants
UK Financial Services Authority chief and future Bank of England deputy Hector Sants says neglect of financial stability was Bank's gravest policy error
Buba finds advantages in industry specialisation
Bundesbank study finds significant monitoring benefits from specialisation of cooperative and savings banks
Finland identifies source of business-cycle volatility in Hong Kong
Bank of Finland study says loan-to-value ratio and housing preference shocks are main source driving business cycle volatility in Hong Kong
RBA plans to sell scandal-hit Securency
Reserve Bank of Australia plans joint sale of polymer subsidiary following alleged bribery scandal
The dangers of relying on point in time
With Basel III, regulators have a chance to improve models used by banks to manage risk. However, they risk repeating past mistakes, says Patricia Jackson
Liquidity regulation and its consequences
The Basel Committee’s proposals for liquidity buffers could have some dangerous side effects, William Allen warns
Lord Turner: FSA break-up unnecessary
Financial Services Authority chairman Adair Turner supports Twin Peaks approach “in theory” but argues benefits could have been achieved without breaking up regulator
Interview: Andrew Sheng
The crisis has undermined much of the economic theory that has influenced central banking in recent decades. This has significant consequences for policymaking, the chief adviser to the China Banking Regulatory Commission tells Claire Jones.
The People’s Bank of China’s battle on two fronts
Events both at home and abroad have kept China’s central bank busy in recent months. Hui Feng reports.
Forrest Capie’s Bank anecdotes
William M. Clarke and Robert Pringle select some amusing excerpts from a new history of the Bank of England.
Ireland’s Honohan calls for greater disclosure of residential mortgages
Central Bank of Ireland governor Patrick Honohan says greater disclosure on residential mortgages loans will help drive confidence in markets