Central Banks
- Banks need more time to reform pay standards: IIF
Central Banking Institute of International Finance says lenders need more than year to bring pay standards in line with Financial Stability Board’s principles; regulators must speed up coordination efforts - Trichet to be first head of European Systemic Risk Board
Central Banking European Central Bank president Jean-Claude Trichet will chair continent’s new systemic risk board until the end of his term; proposal reflects compromise between parliament and national governments - ECB’s González-Páramo highlights flaws in collateral framework
Central Banking European Central Bank executive board member José Manuel González-Páramo acknowledges risks in central bank’s willingness to accept broad range of collateral - Settlement system gets go-ahead from RBNZ
Central Banking Reserve Bank of New Zealand and Securities Commission give “statutory backing” country’s third settlement system; system a joint venture between central bank and stock exchange operator - New Zealand oks third settlement system
Central Banking Reserve Bank of New Zealand and Securities Commission give “statutory backing” country’s third settlement system; system a joint venture between central bank and stock exchange operator - MEPs win out on powers for new European supervisory bodies
Central Banking Pan-European authorities will have the power to impose emergency measures and intervene with financial institutions, after parliamentarians gained ground in compromise agreement - Buba calls for Sarrazin to be sacked over racist comments
Central Banking Bundesbank executive board votes unanimously in favour of removing Thilo Sarrazin; central bank takes firm line after Sarrazin’s anti-Semitic remarks spark outrage - Bernanke: Fed won’t rule out leaning against wind
Central Banking Regulation should be “first line of defence” against bubbles, but FOMC is monitoring financial imbalances - Buba calls for Sarrazin be sacked over racist comments
Central Banking Bundesbank executive board votes unanimously in favour of removing Thilo Sarrazin; central bank takes firm line after Sarrazin’s anti-Semitic remarks spark outrage - Fuld and Fed’s Baxter at odds over Lehman failure
Central Banking Ex-Lehman Brothers’ chief Dick Fuld blames Federal Reserve for failure of investment bank; New York Fed general counsel Thomas Baxter says central bank could not have provided liquidity lifeline
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