G20
Brussels backs bank tax to fund new resolution network
European Commission calls for a network of resolution funds to bear cost of winding down firms; cost covered through levy on lenders
Indonesia’s finance minister named World Bank managing director
Mulyani Indrawati moves to World Bank Group months after alleged corruption accusations
Developing countries gain more leverage in World Bank restructuring
Historic package gives developing countries more say in international policy
Buba’s Weber: global talks on finance framework essential
Bundesbank President Axel Weber seeks international solution to financial reform using G20 meetings as platform
Subbarao, Meirelles join chorus for stronger renminbi
Indian and Brazilian central bank heads urge Beijing to allow renminbi appreciation, but G20 finance heads not expected to corner China at ongoing Washington meeting
IMF stockpiles funds for crisis resolution
Fund prepares for the worst with $500 billion in extra funds from a standing borrowing arrangement with selected members
Norway’s Gjedrem: IMF, not G20, must lead post-crisis policy debate
Norges Bank governor Svein Gjedrem sees IMF as key means to engage all countries in building global policy framework
Kim opens new chapter for Bank of Korea
Recently appointed governor of the Bank of Korea sets out future strategy for bank and country
Merge G20 and IMF: Norway’s Gjedrem
Norges Bank governor Svein Gjedrem calls for the two bodies to be combined, and underpinned by principles that mean all countries, irrespective of size, have their voices heard
Fiscal cuts must precede monetary tightening: IMF
International Monetary Fund notes fiscal consolidation is by far the biggest concern; suggests central banks maintain large balance sheets for time being
Joint fiscal stimulus does everyone good
Bank of Canada looks at the potential effect of the joint fiscal policy initiatives of the G20 in 2009 and 2010
King: G20 should head IMF
Mervyn King, the governor of the Bank of England, says G20 leadership could lend the IMF the legitimacy it needs to curb economic imbalances
UK regulator to be allowed to “tear up” bankers’ contracts
Britain’s financial regulator will have its powers increased, allowing it to punish errant banks and bankers for excessive risk-taking
Multilaterals define systemic importance
Report suggests an initial framework that can be adapted by individual countries
Asset price bubbles “catastrophic”: UK Chancellor
Alistair Darling, chancellor of the exchequer, says bubbles must be tackled before they get out of hand
Bankers play down moral hazard
Institute for International Finance says banks will not take advantage of too big to fail, says capital rules could hinder growth if too harsh
Strauss-Kahn covets lender-of-last-resort role
Dominique Strauss-Kahn says International Monetary Fund must become a global lender of last resort to temper emerging Asia's desire to hold reserves
G20 pledges to tackle imbalances
Global imbalances take precedence over regulation in regulation in communiqué
Basel outlines plans to tighten bank regulation
Central bank governors and heads of supervision agree on raft of measures to rein in banks
RBA’s Edey: don’t push banks into the shadows
Reserve Bank of Australia’s Malcolm Edey on getting the balance on tougher regulation right
Basel Committee expands membership
The Basel Committee on Banking Supervision on Wednesday expanded its membership to include all G20 countries.
ECB's Trichet: prepare for rebalancing world
The world has to prepare for a very profound structural rebalancing of world output during the next years, said Jean-Claude Trichet, the president of the European Central Bank.
DSK: a mandate for change
The G20 summit in London has created a mandate for change, said Dominique Strauss-Kahn, the managing director of the International Monetary Fund (IMF).
G20 working group: development banks must lend now
Multilateral development banks and other international financial institutions should step up their counter-cyclical efforts to offset capital flight from emerging markets, says a report from a working group prepared for the G20 London summit.