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Big Chinese banks reduce bad loans increase profit
CHINA - China's four major state-run commercial banks have all reported strong profit for the first half of the year as they continued to reduce a heavy portfolio of bad loans, however their risk management skills are limited.
Central bank guidelines on credit extension
NIGERIA - The Central Bank of Nigeria (CBN) lived up to its billing in pursuit of its function of promoting monetary stability and a sound financial system when last week it rolled out a new guideline on public spending, reports All Africa Global Media,…
S.Africa's Mboweni urges black empowerment support
SOUTH AFRICA - South Africa's central bank governor Tito Mboweni said that although laws could help address the issue of black empowerment in South Africa, public commitment was crucial.
Australasia must be considered in Asia union
AUSTRALIA - Australia and New Zealand should be considered in any move towards monetary union in Asia, a discussion paper at a Reserve Bank of Australia conference in Sydney on 24 July concluded.
Russia to draft new forex control law by October
RUSSIA - The Russian government intends to draft a new, more liberal law on hard currency controls and regulations by October, the Finance Ministry said yesterday, 24 July.
Italian bank chief backs Berlusconi's policies
ITALY - Antonio Fazio, the governor of the Bank of Italy, on 24 July gave strong backing to the economic policies of Silvio Berlusconi's new centre-right government, blaming the prime minister's predecessors for giving the country a low rate of economic…
Hungary publishes euro recommendations for banks
HUNGARY - The National Bank of Hungary (MNB) has published recommendations to commercial banks regarding the introduction of euro coins and notes in 12 EU member states as of 1 January 2002.
Bahrain to set up liquidity management centre
BAHRAIN - Bahrain plans to establish a US$50 million liquidity management centre (LMC) to help meet the needs of Islamic banks and financial institutions.
Australasian union could see trade double - paper
AUSTRALIA - Australia could enjoy a doubling in trade with New Zealand if the two countries embarked on a path of currency union, a discussion paper presented to a Reserve Bank of Australia conference on 24 July concluded.
Bank of Israel - Annual Report 2000
ANNUAL REPORT - The Bank of Israel, Foreign Currency Department, has published its Annual Report 2000.
National Bank of Slovakia - Annual Report 2000
ANNUAL REPORT - The Narodna Banka Slovenska, (National Bank of Slovakia) has published its Annual Report 2000. Marian Jusko, the governor of the bank, describes a period of continued macroeconomic stabilisation and a decrease in the currant account…
Thai c.bank to finalise new forex rules this week
THAILAND - A senior Bank of Thailand (BOT) official said on 24 July changes to forex trade reporting rules for foreigners would go to the governor for approval this week.
BIS urges watch on Asian c.bank balance sheets
AUSTRALIA - The Bank for International Settlements said today, 24 July, more attention should be paid to the balance sheet independence of central banks in Asia.
Dutch central bank sold gold last week
NETHERLANDS - Figures from the Dutch central bank on 24 July showed its gold reserves fell by 20 million euros last week.
Greenspan says monetary policy still works
US - Federal Reserve Chairman Alan Greenspan said today, 24 July, that changes in monetary policy are still able to boost the economy, even as the U.S. economy has continued to drag after a series of Fed rate cuts.
Impact of euro cash set to be 'low'
GERMANY - Deutsche Bank, Germany's biggest bank, has warned against overestimating the potential disruption generated by the change to euro cash at the start of next year. The bank said it was more likely to be a "big bang" with "little impact" on…
New London Rep for Bank Indonesia
UK - The London office of Bank Indonesia has a new Chief Representative.
Is Greenspan growing tired of his task?
ARTICLE - Alan Greenspan has always been as good a politician as he is a central banker. The Federal Reserve chairman is the master of the non-answer-answer to a hostile question and he does it with remarkable grace. Last week's appearance on Capitol…
No policy change despite emergency, Bank Indonesia
INDONESIA - The governor of Indonesia's central bank said yesterday, 23 July the country's foreign exchange and monetary policy remained unchanged despite President Abdurrahman Wahid's declaration of a state of emergency earlier in the day.
Research calls for change to China monetary policy
CHINA - With the development of the capital market, the fluctuation of asset prices will have an increasingly greater influence on the stability of money demand and in turn affect the quantity and mix of money supply. For this, the monetary policy should…
The framework of Israel's economic policy for 2002
SPEECH - David Klein, Governor of the Bank of Israel, to The Financial Forum, Tel-Aviv, 11 July.
Safeguarding financial stability - key issues
SPEECH - Vahur Kraft, Governor of the Bank of Estonia spoke at a conference on the Challenges for the Unified Financial Supervision in the New Millennium, Tallinn, Estonia on 2 July.
Bank Al-Maghrib - Annual Report 2000
ANNUAL REPORT - Bank Al-Maghrib has published its Annual Report for the year ended 2000.
Central Bank of Oman - Annual Report 2000
ANNUAL REPORT - The Central Bank of Oman has published its Annual Report for the year ended 2000.