Central Banks
National Bank of Slovakia – Annual Report (2009)
Slovakian central bank’s annual report details benefits of entering currency union and documents smooth transition into new monetary policy and payments systems
Monetary policy analysis and forecasting in the G20
Paper published by the IMF develops model featuring extensive linkages between real and financial sectors
Second UK FSA managing director quits
British regulator announces the second resignation of a top-level official within the month; head of banking supervision Jon Pain says no role for him in new supervisory structure
EU faces tough call on sovereign scenarios for stress tests
European Union officials split on whether to run sovereign debt scenarios on stress tests; plans afoot to extend number of banks tested
Canada’s Carney named CGFS chair
Bank of Canada governor Mark Carney to step into Federal Reserve vice-chairman Donald Kohn’s shoes and head Basel-based Committee on the Global Financial System; follows Kohn’s retirement
Fed’s Warsh: market panic a signpost, not source of global economic woes
Market volatility merely a signal of how far we are away from the new normal; warns against expecting monetary and fiscal policy to do too much
Czech rate-setter Tomšik promoted to vice governor
Czech National Bank chief executive director Vladimír Tomšik named second vice governor; economist Kamil Janáček gets Tomšik’s vacated director role, completing rate-setting board
Interview: Gill Marcus
The governor of the South African Reserve Bank tells CentralBanking.com why reforms can’t be rushed and discusses the role of central banks within society
IMF: reserve managers’ ‘procyclical’ strategies exacerbated crisis
IMF says behaviour of reserve managers compounded pressures on financial stability; highlights potential conflict between investment strategies and stability mandates
Relationship between government and markets must change: Padoa-Schioppa
Former executive board member at the European Central Bank Tommaso Padoa-Schioppa says successful exit from the crisis will require a shift in the market-government nexus
EXCLUSIVE: Finger-pointing masks officials’ failures, says Sarb’s Marcus
South African Reserve Bank governor Gill Marcus says knee-jerk reforms ignore failure of policymakers to raise standards before crisis; sober, measured approach to reform only credible way forward
Money and liquidity in financial markets
Connection between interbank market for liquidity and broader financial markets exists
Caruana’s three policy challenges
Bank for International Settlements’ general manager outlines the key problems with which policymakers must grapple
BIS makes record profit
Bank for International Settlements records net profit of $2.9 trillion