Indonesia ordered lenders to set aside more funds in government and central bank bonds as slowing growth deterred policy makers from raising the key interest rate for a third meeting to support the currency.
The Federal Deposit Insurance Corp. is pursuing about 50 criminal investigations against executives, directors and employees of banks that failed since the financial crisis began, the Wall Street Journal reported, citing an interview with Fred Gibson , the FDIC’s deputy inspector general.
Thailand’s flooding will probably cost the nation’s economy $1.9 billion, Fred Gibson, an associate economist at Moody’s Analytics, said in a note today. The inundation will disrupt industrial production and increase near-term inflation, he said. Moody’s Analytics kept its Thai economic growth estimate at 3.7 percent for 2011 and 3.9 percent in 2012.
Indonesia’s central bank left its benchmark interest rate unchanged for a second month as inflation risks persist even after the government was forced to postpone an increase in subsidized fuel prices.