Central banks
CBRC chief adviser Sheng brands financial engineering ‘a cancer’
Andrew Sheng, a veteran regulator who acts as a chief adviser to China’s top banking regulator, believes ‘creative destruction’ needs to take place when financial engineering goes beyond an optimal level, as it did in 2007-2008.
CBRC’s Andrew Sheng talks about new era for policymaking
Theory failure
Firm action needed to deal with financially troubled eurozone
Europe needs to act
ECB opinion on derivatives reform spurs debate on CCP liquidity resilience
French authorities welcome ECB's call for the resilience of central bank money to be recognised in EU derivatives legislation.
The EU’s problem is solvency, not liquidity, says Pimco’s El-Erian
The EU faces a tricky 2011 as it navigates excessive debt, but needs to address solvency issues rather than liquidity, says Pimco's CEO Mohamed El-Erian.
Portugal succeeds at auction but fails to sway analysts
Portugal sells $1.6 billion worth of government debt at auction, but commentators remain wary of fundamentals
Stability objective should drive financial policy, says BoE’s Bailey
Bank's Bailey says stability goal must not be swayed by “murky compromises with other objectives”
IMF in bid to strengthen governance of cross-border capital flows
IMF executive directors support greater Fund role in surveillance of cross-border capital flows and creation of rules for capital account policies
SNB rejects Irish debt as collateral
Swiss National Bank excludes Irish sovereign debt and that of some Irish banks from list of collateral eligible for open market operations
Brazil’s Tombini sets out inflation fighting credentials with calls for lower target
Central Bank of Brazil governor says country’s inflation target should be similar to those of other leading emerging market economies
Imbalances could treble in next two decades: Bank's Haldane
Bank of England executive director Andy Haldane charts course of global imbalances, pointing to trends likely to widen them
Dublin deflects ECB criticism of bank law
Ireland’s finance ministry says central bank independence not threatened by bank bill; statement comes in response to wide-ranging European Central Bank critique of draft law
EFSF's Frankel: guarantees are "enough for the time being"
European leaders endorse EFSF model, as facility gears up for debut issuance of up to €5 billion
Basel III won’t be a problem if implemented correctly, says Bank of England
Latest Financial Stability Report stresses importance of long transition to new rules, and concerns over central counterparty clearing
Peripheral CDSs fall on ECB liquidity promise
The cost of insuring against a default of peripheral European states continued to fall today, after peaking at record highs on Tuesday.
Video: Hang Seng’s Andrew Fung optimistic on offshore RMB growth
Andrew Fung, head of treasury and investment at Hang Seng Bank in Hong Kong, believes the Hong Kong and Chinese governments should simplify procedures for offshore renminbi to be remitted to mainland China. This would increase the appeal of RMB bond…
ECB could offer governance concession on T2S
European Central Bank could modify governance arrangements of its settlement platform in a bid to entice sterling to join
Irish woes may spread to other PIIGS
European Union action on Ireland’s bank debts points to fears over contagion spreading across peripheral Europe.
Congress raises alarm on US mortgage fraud risk
Tarp oversight panel warns that bank incompetence threatens financial system
Central banker Honohan expects IMF loan for Ireland
Trinity College's Lucey adds, "Thank God we have an honest central bank governor. He's the first official to call it as he sees it."
Large pension funds a threat to financial stability – European Commission
European Commission says pension funds should also be classed as “too big to fail”
Risk USA: Paulson refused to save Lehman over 'bailout guy' characterisation
Former White House economist details civil war between Bush administration and US Treasury
Opinion: Preparing for failure
Preparing for failure