Central Banks
Pakistan’s governor quits; deputy named interim chief
State Bank of Pakistan governor Syed Salim Raza resigns; deputy governor Yaseen Anwar named acting head
Fed scoops prize for best swap lines: BIS
Bill Allen and Richhild Moessner study the effects of central banks’ swap lines and find those established by the Federal Reserve to provide dollar liquidity went furthest in achieving their aims
Weber’s defiance could help or hinder: analysts
Bundesbank president Axel Weber’s maintenance of principled objection to European Central Bank bond purchases could swing either way in his bid to succeed Jean-Claude Trichet
German rumours of French pact with ECB display tensions
Coverage of German magazine article alleging European Central Bank's bond purchase programme was aimed at helping the French indicative of fertile breeding ground for conspiracy theories
Rate move highlights gap between Russia and other Brics
Country remains in expansionary mode while fellow emerging markets start tightening due to structural and circumstantial factors
Estonia on the lookout for dud euro notes
Bank of Estonia begins training staff from commercial banks and larger retailers to spot fake euro banknotes
Subbarao opens RBI archive museum
Reserve Bank of India governor Duvvuri Subbarao says museum is pivotal to understanding central bank's present and past roles
Turkish minutes flag instability in lending markets
Minutes from Turkish central bank's May meeting show policymakers fixed one week repo rate at 7% to reduce fluctuations in lending markets
Mix of bad luck and policy fuelled credit boom in Eastern Europe
IMF research finds both bad luck and poor policymaking led to credit boom in new EU member states
IMF: Capital, not liquidity, limited post-crisis lending
Fund paper on bank lending finds that capital rather liquidity constraints froze lending following the 2007 sub-prime mortgage crisis
Brussels calls for European ratings supervisor
European Commission proposes new body to oversee all credit ratings agencies operating in the European Union; security issuers must provide information to all agencies to boost competition
Bank's King declines pay hike for two years
Bank of England governor takes two year pay freeze of own volition; non-executive directors see salaries more than double from previous year
China’s Li calls for tightening on back of housing bubble fears
People’s Bank of China monetary policy committee member Li Daokui warns economy may overheat unless tighter monetary policies are put in place
Venezuela drawn into Securency scandal: report
Australian newspaper alleges that RBA offshoot paid for Vietnamese government officials to win business from Central Bank of Venezuela
ECB reshuffles executive responsibilities as Constâncio takes over Papademos’ role
ECB shuffles distribution of responsibilities between executive board following appointment of ECB vice president Vítor Constâncio
Goodhart: CoCos 'not silver bullets' for bank capital reform
Regulators should ban dividend payments or curb banker pay to conserve cash, instead of championing CoCos, says economist
Bernanke praises emerging-market response to crisis
Federal Reserve chairman Ben Bernanke praises the Bank of Korea's policy response to the financial crisis
Cyprus: Fed took over-simplistic approach to controlling inflation
Cypriot central bank inflation study finds Fed failed to curb price growth in 1960s, 1970s
Bank tests joint credit and interest rate risk model
Bank of England research tests endogenous model to calculate credit and interest risk; finds results differ substantially