Articles by Daniel Hinge
US thrashes out partial solution to fiscal cliff
US government reaches agreement that postpones and reduces fiscal cliff; measures unlikely to have significant impact on Fed policy, some observers say
Central Bank of Nigeria denies Sanusi arrest warrant rumours
Central bank says no arrest warrant for Sanusi Lamido Sanusi issued – contrary to local media reports – but admits governor has defied parliamentary summons
BoE to get new FMI supervision department
Bank of England will gain new powers of oversight over financial market infrastructures after transition from Financial Services Authority in April next year
BoE and FDIC co-operate on bail-in plans
US deposit insurer and UK central bank release plans for resolution of global systemically important banks, focusing on a ‘top-down’ approach to maintain viability long enough for restructuring
UK’s Wheatley outlines behavioural foundations of FCA approach
CEO-designate of UK’s Financial Conduct Authority says regulator’s new approach will centre on behavioural economics rather than treating consumers as fully rational
Bank of Greece upbeat on recovery prospects
Interim 2012 report on monetary policy says ‘tangible’ progress has been made in key sectors, but commentators warn optimism may be unfounded
Carney gets Bank of England top job
Mark Carney, currently governor of the Bank of Canada, will take over from Mervyn King to run the UK central bank in June 2013, despite earlier appearing to deny interest in role
Mersch appointed to ECB amid continuing controversy
Appointment to ECB board finalised despite challenge over lack of female candidates; Sharon Bowles says democracy has been shown to be discarded when ‘its truths are inconvenient’
New UK regulators may have some overlap, says FSA’s Nicoll
Director of conduct policy at UK’s FSA says there may be crossover between ‘twin peaks’ regulators; report suggests banking lobby can influence rule-making and industry complacent over costs
FSB takes next steps towards shadow banking regulation
Financial Stability Board gives recommendations for regulating financial institutions outside the regular banking system; estimates shadow banking sector reached $67 trillion in 2011
BoJ mirrors BoE’s FLS and steps up easing
Bank of Japan launches scheme with similarities to Bank of England’s funding for lending and steps up the size of its asset purchase programme by $138 billion
Bundesbank reveals specific location details of gold holdings
New details of the Bundesbank’s foreign gold holdings released as Bank of Italy admits also not physically verifying gold held overseas despite having world’s third largest gold reserves
Bank of Finland’s Honkapohja gets second five-year term
Seppo Honkapohja reappointed for a second five-year term on the board of the Bank of Finland; only three board members of a possible six currently in office
Bundesbank under pressure over $172bn gold inventory
German Federal Court of Auditors calls on Bundesbank to check gold held at Federal Reserve, Bank of England and Banque de France; Bundesbank to move 150 tonnes back to Germany over next three years
Third-quarter figures show Spain still grappling with economic woes
Bank of Spain economic bulletin for the third quarter shows continued weakening of growth and range of other economic indicators; raises possibility government will not meet deficit target this year
Central bankers highlight merits of fixed exchange rate regimes
Bosnian and Barbadian governors discuss the importance of a fixed exchange rate for small and open economies
EU leaders agree on new powers for ECB
European Central Bank to run single supervisory mechanism, but leaders fail to agree on when bailout funds can be directly injected into European banks
Volcker warns of ‘permeable’ Vickers ring fence
Paul Volcker tells a UK parliamentary committee the Vickers ring fence has loopholes that will be widened over time by banks; says bad culture in trading arms ‘infected’ retail banks
BoE’s Tucker says FCA may have to intervene to correct accounting failures
Paul Tucker says difference in market and banks’ asset valuations may require intervention by the Financial Conduct Authority; praises bail-ins as method of imposing discipline
Final rules for D-Sibs published as FSB holds plenary meeting
Financial Stability Board meeting in Tokyo endorses publication of final framework for regulating D-Sibs; principles focus on assessment methodology and higher loss-absorbency requirements
ECB chief views speed of reform as critical for success
ECB chief Mario Draghi calls for the fast implementation of single supervisory mechanism despite many details remaining unclear; others say reform needs to be more ‘thought out’
Iranian central bank struggles to support plummeting rial
‘Foreign exchange centre’ set up by Central Bank of Iran to regulate exchange rate as rial falls sharply in value; fears emerge that currency free-fall could cause hyperinflation
Hungarian government abandons central bank transaction tax
Hungary’s minister for the national economy says transaction tax will not be applied to central bank following pressure from European authorities and the IMF
Bank of Greece abandons 9% core capital requirement
Central bank suspends plans to raise core Tier I capital ratio as banks struggle to raise equity and data show contraction in lending continues