WASHINGTON (MNI) - The following is an excerpt from the joint statement by the U.S. Treasury and the Federal Reserve Wednesday unveiling a new design for the $100 note:

Officials from the U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System and the United States Secret Service today unveiled the new design for the $100 note. Complete with advanced technology to combat counterfeiting, the new design for the $100 note retains the traditional look of U.S. currency.

FRANKFURT (MNI) - Interest rates in the Eurozone should remain exceptionally low given a subdued growth and inflation outlook, the International Monetary Fund said in its World Economic Outlook released Wednesday.

The IMF warned that troubles in Greece have exacerbated downside risks for the single currency bloc since the IMF's last report published in October 2009.

BEIJING (MNI) - The People's Bank of China (PBOC) announced that it will sell CNY90 billion in three-year paper on Thursday as part of its regular biweekly open market operations.

The volume compares with the CNY15 billion in three-year notes sold on April 8, a sale which resulted in a coupon of 2.75%.

The PBOC reintroduced the three-year product on April 8, saying that it will be sold on alternate weeks as part of the bank's regular sterilization operations.

LONDON (MNI) - The outlook for private sector employment appears relatively stable, with most large-scale redundancy programmes having been completed, the Bank of England's Agents said in a report published Wednesday.

The agents found hiring intentions were marginally stronger in the professional services and manufacturing sectors, with a few businesses starting to recruit "selectively" in anticipation of a further uptick in demand.

FRANKFURT (MNI) - The European Central Bank said Wednesday that a total of E47.583 billion Eurosystem covered bond purchases had settled as of April 20.

As of April 19, settled acquisitions had totaled E47.377 billion, the ECB said Tuesday. The ECB plans to buy a total of around E60 billion covered bonds by the end of June 2010 at the latest.

The program is aimed at revitalizing a market segment that has been exceptionally hard hit by the financial turmoil.

BEIJING (MNI) - The People's Bank of China set the yuan's central parity rate at 6.8264 to the U.S. dollar on Wednesday, slightly lower than the previous trading day's central parity of 6.8263.

The yuan finished at 6.8254 against the US dollar on the over-the-counter (OTC) market Tuesday, higher than last Monday's close of 6.8268.

Based on today's parity, the yuan is up 0.10% y/y against the dollar, according to Market News International calculations.

By Brai Odion-Esene and Ian McKendry

WASHINGTON (MNI) - In Congressional testimony Tuesday, both Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner agreed that requiring banks to hold contingent capital would help in easing the impact of future crises.

Asked to comment on the importance of contingent capital as a "shock absorber" for banks, Geithner told the House Financial Services Committee that it is a tool "that can be used in crisis to create more capital."

MANNHEIM (MNI) - European Central Bank Governing Council Axel Weber Tuesday refuted press reports according to which he had told German lawmakers in a closed door session that Greece could need E80 billion to avoid default.

Speaking to reporters after a speech in Mannheim, Weber said that he has never "made an assessment of long-term or short-term financing needs" for Greece.

"These were not my figures. I merely cited them," Weber said. He noted that the E80 billion had first come from Greece, which then quickly withdrew the figure.