Central Banking staff
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Bank of Italy merger veto curbs ambitions of banks
ITALY - Bank of Italy Governor Antonio Fazio's continued opposition to mergers between leading Italian banks is proving to be a big drag on the sector as domestic mergers and acquisitions are the only way Italian banks can grow to catch up with larger…
C Bank - Favoured firms made $bn in Milosevic era
YUGOSLAVIA - Yugoslav companies given special privileges during the rule of Slobodan Milosevic creamed off more than 8.3 billion German marks ($3.66 billion) in extra profits, the central bank said on 18 July.
Meyer takes aim at the Greenspan legacy
US - Kansas City Fed President Thomas Hoenig, who broke a recent pattern of Federal Open Market Committee unanimity by voting against a half-percentage-point rate cut on May 15, is not a real FOMC dissident, reports Dow Jones news.
Russian bank reform - key topic at autumn session
RUSSIA - Minister for Economic Development and Trade of Russia, German Gref, after the traditional meeting of Russia s President Vladimir Putin with the m embers of the Cabinet in the Kremlin informs, that Putin demands that actions o f the Central Bank…
UK rates may head higher
UK - The Bank of England has given its clearest indication yet that interest rates may start to climb again in the near future.
Bank of Uganda introduces new cheques
UGANDA - Bank of Uganda (BOU) has announced the introduction of new cheques in a bid to standardise and improve the cheque operation system.
Central Bank of the UAE - Annual Report 2000
ANNUAL REPORT - The Central Bank of the UAE has published its Annual Report for the year ended 2000.
Russia link to murder of Ukraine central bank head
UKRAINE - The Kiev Prosecutor-General's Office today announced the completion of an investigation into the case of the Top Servis Vostok company. The case involved 17 members of a crime gang who are accused of committing murder and arson in 1997-99 at…
Testimony of Chairman Alan Greenspan
SPEECH - Alan Greenspan, Chairman of the Federal Reserve Board, has given testimony today, 18 July, before the Committee on Financial Services, U.S. House of Representatives. His testimony is the Federal Reserve Board's semiannual monetary policy report…
International Capital Markets - IMF Annual Report
RESEARCH - The International Monetary Fund (IMF) has published the annual International Capital Markets report - World Economic and Financial Surveys - Developments, Prospects, and Key Policy Issues. It was prepared by the research department of the IMF…
Central Bank of Brazil - Annual Report 2000
ANNUAL REPORT - The Central Bank of Brazil has published its Annual Report for the year ended 2000.
Bahrain Monetary Agency - Annual Report 2000
ANNUAL REPORT - The Bahrain Monetary Agency has published its Annual Report for the year ended 2000.
Federal Reserves Meyer on Inflation Targets
SPEECH - Federal Reserve Board member, Governor Laurence H. Meyer has given a speech at the University of California, San Diego Economics Roundtable, San Diego, California. The speech is titled "Inflation Targets and Inflation Targeting" and was made…
South Africa banks fear effects of brain drain
SOUTH AFRICA - South Africa's banks have identified skill shortages as the biggest threat facing the industry.
Korea to adopt flexible monetary policies
SOUTH KOREA - Bank of Korea Governor Chon Chol-hwan said 16 July he will be flexible with the bank's monetary policies in view of the uncertainties surrounding both international and domestic economies, and will pay close attention to inflation and real…
Bank backs Aussie-Kiwi policy
NEW ZEALAND - A journal published by the Hong Kong and Shanghai Banking Corporation (HSBC) has called on Australia and New Zealand to adopt a common monetary policy.
Reserve bank begins financing tobacco growers
ZIMBABWE - THE Reserve Bank of Zimbabwe (RBZ) has started disbursing 20% pooled foreign exchange proceeds drawn from off-shore facilities to finance tobacco growers, ending several months of waiting by the growers, it has been learnt.
Lebanese prime minister meets US bank delegation
LEBANON - The Lebanese Prime Minister Rafik al-Hariri met a delegation of the U.S. Central Bank on 13 July. They discussed issues concerning the bank situation in Lebanon. Hariri also met the head of the International Trade Chambers' Union Adnan Al…
Russian C Bank stripped of right to control audits
RUSSIA - On 13 July, the Russian State Duma adopted in third and final reading two bills, entitled On auditing activities and on the state registration of legal entities.
Survey on the Introduction of the Euro
RESEARCH - The National Bank of Belgium is conducting a new survey among enterprises concerning the introduction of the euro. The object of this survey is to assess their degree of preparedness for the changeover to the single currency and to evaluate…
Fed Res Bank of Minneapolis - Annual Report 2000
ANNUAL REPORT - The Federal Reserve Bank of Minneapolis has published its Annual Report for the year ended 2000.
IMF Fischer stresses Turkey econ program on track
US - The International Monetary Fund signalled the beginning of a new public relations campaign to relieve market pressure on Turkey 13 July, with the Fund's second-ranked executive declaring investors aren't giving Ankara enough credit for the reforms…
Cuban bank to stop services to 'deadbeat'companies
CUBA - The Cuban Central Bank plans to suspend banking services to deadbeat Cuban companies effective in January 2002, a bank spokesman said.
Indian committee suggests overseas clearing agent
INDIA - A committee set up to study the Indian financial system's payment and settlement modes has recommended creating an overseas clearing agent and a guarantee fund for foreign exchange clearing, a central bank statement said on 16 July.