Brazil
Brazil cuts benchmark rate in surprise move
Monetary Policy Committee drops benchmark interest rate from 12.5% to 12% in unexpected decision
Market discipline averted subprime chaos: Central Bank of Brazil paper
Central Bank of Brazil says subprime mortgage crisis did not cause serious problems in Brazil due to good regulation and transparency
Brazil ‘prepared’ for international challenges: Tombini
Governor of the Central Bank of Brazil says country is ‘prepared’ to face the challenges in the international arena; expects inflation downward trend to continue
Brazil holds first Financial Stability Committee meeting
First meeting held over a month later than planned; comes in same week governor addresses New York audience for the first time and discusses rising inflation
Brazilian reserve requirements inefficient liquidity tool: Fed paper
Federal Reserve study says reserve requirements failed to provide adequate liquidity provisions in Brazil
Fitch upgrades Colombia and Philippines
Fitch upgrades Colombia and Philippines one notch each as emerging markets bolster public finances; outlook reflects solid macroeconomic policies and strong public finances
Risk & Return Brasil: Supervisors need to be more curious, says Donizeti
Authorities should put less faith in numbers and what they are told by banks, says top Brazilian supervisor
EMEs more sensitive to risk premiums: IMF paper
IMF study shows a lower risk premium can reduce inflation in emerging economies
IMF candidates battle to win support
Lagarde and Carstens visit Brazil; Merkel supports non-European candidate in the future
Brazil creates Finance Stability Committee
Central Bank of Brazil creates Financial Stability Committee to supervise financial industry and manage systemic risk
Thai governor becomes latest to attack IMF capital controls framework
Bank of Thailand governor Prasarn Trairatvorakul’s criticisms of IMF framework on capital controls come after similar comments from Brazilian, Indian officials
Yellen defends IMF proposals on capital controls
Federal Reserve vice-chair takes Fund line on framework to tackle capital inflows; follows criticism of framework from Indian, Brazilian officials
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
FSB reviews OTC reform
Financial Stability Board progress report says implementation of OTC derivative reform varies across countries
Brazil prepares for Basel III
Brazilian financial stability report announces major changes will be incorporated in the country’s legislation; bringing it into line with Basel III
Bank’s Haldane warns capital inflows may overwhelm emerging markets
Bank of England executive director for financial stability Andrew Haldane says rapid rate of investment in emerging markets could lead to financial instability
Financial Stability Board publishes survey responses
Comprehensive survey answers reveal FSB member countries’ plans to conform with the G-20’s recommendations for strengthening financial stability
Ex-Brazil governor to head Olympic authority
Former Central Bank of Brazil chief Henrique Meirelles tasked with managing preparations for 2016 games, to be held in Rio
Brazil’s Tombini nominates two deputy governors
Central Bank of Brazil president Alexandre Tombini names two department heads to sit on rate-setting committee
Israel’s Fischer calls for international FX rules
Bank of Israel governor Stanley Fischer calls on IMF to draw up set of international rules on foreign exchange intervention
IMF paper identifies Brazilian interest rate regime switch
Fund study says Brazil’s relatively low interest rate level and lack of volatility are owing to regime changes
Safe haven effects caused exchange rate swings: IMF paper
Fund study identifies source of exchange rate volatility during financial crisis
Argentina raises deposit insurance ceiling: reports
Central Bank of Argentina quadruples cap on bank deposit insurance to better reflect falling peso
Brazil steps up efforts to ease real gains
Central Bank of Brazil raises reserve requirements on domestic banks' foreign exchange position in bid to halt real appreciation