Reserves
Russian gold reserves reach new record high
Gold reserves in Russia reached a new record high this week at 59.9bn dollars, according to a report by the Interfax news agency..
Gold bars worth $500m seized at Syrian border
A haul of 2000 gold bars was found during the routine inspection of a truck near the Syrian border, according to Reuters. The gold was estimated to be worth about $500 million and may have come from the Iraq central bank's reserves.
NBP won't release its reserves for budget
The National Bank of Poland's governor said the bank will not yield to the request of finance minister Grzegorz Kolodko, who had called on the NBP to release part of its foreign currency reserve and transfer the money to the state budget, according to…
Zimbabwe's central bank raises gold sale price
Zimbabwe's central bank has raised the price paid to small scale gold producers by 114 percent following the abolition of the gold floor price support scheme, the Financial Gazette reports.
China to open gold trade to individuals
The Shanghai Gold Exchange, China's only gold exchange, may expand to allow individual investors to buy or sell gold later this year, reports the China Daily.
Bank of Japan makes legal reserves application
The Bank of Japan applied to the Minister of Finance on 15 May to retain an extra ten-hundredths of its net income, as the legal reserve for Fiscal 2002.
BoJ asks for gov't approval to boost its capital
The Bank of Japan said in a statement on Thursday 15 May that it is seeking government approval to increase the amount of money it sets aside to boost its capital, according to Bloomberg News.
Lebanon c bank finds new stash of Iraqi cash
The US Treasury has said that US$495 million of Iraqi funds has been recovered by the central bank of Lebanon, reports Associated Press. The U.S. has stressed that all recovered assets will be used to help the people of Iraq and rebuild the country.
US forces recover $800m of 'stolen' Iraqi cash
The US state department said Tuesday that about $800m that was stolen from the central bank of Iraq has been recovered.
Argentine c banker: priorities for new president
The head of Argentina's central bank Alfonso Prat Gay said on Thursday 1 May that the new president of Argentina, to be elected this month, should put sustainable growth at the top of the agenda and establish a long-term IMF deal and debt restructure,…
Ferguson on Basel II and risk management
In a speech on 'Basel II: A Case Study in Risk Management' Roger Ferguson of the Federal Reserve said the proposed revision of the international capital accord is basically about improving risk management in banking. It is a regulatory framework that…
Russian cb calls for liberalisation of forex rules
Russia's central bank plans a gradual liberalisation of currency regulations, chairman Sergey Ignatiyev said on Tuesday 23 April, according to a report by the Iinterfax News Agency.
Mexico to auction $32 m per day in reserves
The Bank of Mexico intends to sell part of its reserves each day for the next three months in a move designed to stem the growth of its international reserves, according to a report by Reuters.
Mexico's central bank net reserves, assets rise
The Bank of Mexico's reserves have risen just over $0.15 billion since the start of April, the bank said on Tuesday 15 April, according to Reuters.
Argentine peso dips amid monetary expansion talk
The Argentine peso has suffered amid slack demand for the U.S. currency as local investors have taken advantage of high interest rates of up to 25 percent offered on deposits, according to a report from Reuters.
C bank criticism casts doubt on Polish reforms
Poland's fiscal restructuring plan may run into problems after central bank President Leszek Balcerowicz criticised the finance ministry's reform blueprint, according to a report in the Financial Times. The finance ministry said the central bank would be…
Are Asian central banks easing up on derivatives?
An article, first published by Reuters, looks at the relaxation of restrictions on credit derivatives in Asian markets by central banks. Although these countries have traditionally blocked such instruments for fear of harming their exchange rates looser…
Polish Finance Ministry agrees over reserve funds
Poland's Ministry of Finance expects to come to an agreement with the national bank over the issue of revaluation reserve funds, according to a report from the PAP news agency. The Ministry of Finance has recently said that it plans to use around one…
Fed's Ferguson- Basel II accord not 'set in stone'
Basel II is not set in stone said Roger Ferguson of the Federal Reserve on Wednesday, according to a Reuters Report, even though a third consultation paper summarizing the proposals is expected to be released in early May.
BoJ considers purchase of asset-backed securities
Japan's central bank was reported by the Financial Times as saying on Tuesday 8 April that it may take unconventional steps, such as buying securities, to push the nation's economy toward recovery while keeping cash circulating in the financial system.
IMF Managing Director Issues Statement on Turkey
Turkey has finally fulfilled the conditions for obtaining its latest loan tranche from the IMF. The letter of intent sets out further reforms aimed at fixing shaky public finances and transforming the state dominated economy into a free market system.
Russian forex reserves reach another record high
Russian central bank reserves rose to a new record high last week, according to the ITAR-TASS news agency, taking the total increase to nearly sixteen percent since January.
Polish euro entry may be hampered by reserves
Poland's finance minister said on Wednesday 2 April that if the central bank refuses to release the revaluation reserve it will entry to the euro difficult for Poland in 2007, according to the PAP news agency.
Iraq conflict 'likely to hit global growth'
In a regular report the World Bank said the Iraq conflict will probably have about the same effect on the global economy as the September 11 attack the Financial Times reports. The report also said the huge accumulation of reserve assets means the…