Central Banks
Greek debt crisis sparks widening of almost all global CDS spreads
Cost of protecting against a Greek default up 190% in three months to mid-June as CDS spreads widened for 93% of sovereign debt on back of sovereign debt crisis in Europe
NIESR director to succeed Kate Barker on MPC
Martin Weale set to join Bank of England’s Monetary Policy Committee in time for August meeting
IMF resumes financial aid to Ukraine
Fund approves new application for loans after funding was cut off in dispute over its burgeoning fiscal deficit
ECB handled Greek crisis well: CentralBanking.com readers
CentralBanking.com poll shows more than 40% approval rating for European Central Bank’s handling of the Greek debt crisis
Foreign holdings of US Treasuries rise as supply for agency securities runs dry
Fed data show official-sector holdings of US agency securities fell after 12 straight weeks of gains
Netherlands’ Wellink survives resignation calls
Calls for Netherlands Bank governor to quit followed damning report into the central bank’s handling of failure of DSB
Iran’s central bank needs greater independence: research group
An Iranian research centre says Iran’s central bank requires greater autonomy from government if it wants to battle inflation
Norges Bank – Annual Report on Payments Systems (2009)
Norges Bank says Norway’s payment system is secure but has room for improvement in cost-effectiveness
St Louis Fed: FOMC largely ignored Phillips curve framework
A St Louis Federal Reserve study on Fed transcripts shows the FOMC was split on whether to use the Philips curve in monetary policy decisions
IMF: FDI undermined competitiveness in central and eastern Europe
An IMF study on real effective exchange rates reveals large volumes of foreign capital flows reduced competitiveness in central and eastern and European countries
Central bank bill passed by Ireland’s lower house
Dáil TDs approve bill which will merge central bank and financial regulator by slim majority
Faith in Fed's omnipotence must be challenged, says Rajan
University of Chicago professor and former IMF chief economist Raghuram Rajan slams view that Federal Reserve can “wave a magic wand” to cure United States’ economic ills
Interview: Sanusi Lamido Sanusi
The governor of the Central Bank of Nigeria discusses banking reform, the Volcker rule, and the role of lenders in society
Eurozone crisis won’t cripple Israel: Fischer
Bank of Israel governor Stanley Fischer says eurozone debt crisis and growth slowdown haven’t changed domestic outlook significantly; cites gains to be made from developing clean technology sector
EXCLUSIVE: Nigeria to cut out universal banking
Nigerian governor Sanusi Lamido Sanusi says new guidelines similar to Volcker rule will prohibit lenders’ engagement in non-banking activities; takeover deals for bailed out banks near completion
Expectations drive house prices
Bank of Spain research finds expectations on both monetary policy and future productivity influence house prices
EXCLUSIVE: Nigeria’s Sanusi explains banking sector bloodletting
Nigerian central bank chief Sanusi Lamido Sanusi explains why he had to “decimate” opposition to his sweeping bank reforms; says Volcker rule poses no conflict with the true task of banks