Financial stability
Lack of governance to blame for Libor scandal, says IMF official
A failure of bank governance is behind the recent Libor rate-fixing scandal – and these kinds of failings could pose systemic risks, says José Viñals
Guidance on central bank risk management is needed, says BoE’s Fisher
The Bank for International Settlements should provide guidance on best practice for central bank risk management, says the Bank of England’s Paul Fisher
Yen expected to remain weak as long as Greek package is implemented
Foreign exchange strategists and traders have judged this week's Japanese intervention a success in weakening the yen, and believe USD/JPY should remain higher as long as the eurozone crisis doesn’t spiral out of control and spark a flight back to the…
Klaus Regling to head euro bailout vehicle
German economist and former director-general Klaus Regling to head European Financial Stability Facility set up to bail out troubled eurozone states
ECB decision could be critical in Greek debt crisis
FRANKFURT – If Greek debt is downgraded again, much will depend on whether the ECB decides to keep accepting it as collateral.
SWFs look beyond the US dollar
NEW YORK & HONG KONG - The greenback is likely to be the main loser as sovereign wealth funds (SWFs) diversify into yen and other non-euro currencies, say analysts.
Is the dollar dross?
Pete Luxton, global markets adviser, and Shant Movsesian, FX options manager, at Informa Global Markets in London, seek ways to benefit from the flagging US dollar
IMF makes landmark update to exchange rate monitoring
MONTREAL – The International Monetary Fund (IMF) announced an overhaul of its exchange rate policy surveillance framework last Monday (June 18), for the first time in 30 years. The changes oblige member countries to avoid exchange rate policies that…
Greenspan and Snow to visit Cfets
BEIJING – Alan Greenspan, Federal Reserve chairman, and John Snow, treasury secretary, will visit the Shanghai office of the China FX trading system (Cfets) on their visit to China this week.
Euro gains status as reserve
FRANFURT – Buying by some of Eastern Europe’s and Africa’s central banks is buoying the euro as the central bankers come to the realisation the currency is here to stay, according to a leading forex fund manager.
Asian swap network nears completion
SINGAPORE -- An Asian initiative to cut the impact of speculative currency trading attacks in the region is nearing completion.