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Deputy head named at Bank of Kuwait
KUWAIT - Mustafa Al-Shimali has been appointed as head of the board of the Bank of Kuwait and the Middle East.
Three regulators criticise new SEC rules
US - Three major U.S. banking regulators issued a scathing criticism on 2 July of the Securities and Exchange Commission's interim final rules on when banks can be exempt from standard dealer and broker requirements.
Korea's smaller chaebol could own banks
SOUTH KOREA - South Korea may take the controversial step of turning to smaller conglomerates to sell off nationalised banks, the head of Seoul's top state-run thinktank suggested in a Reuters interview today, 3 June.
Christian Noyer speech - The Euro Area
SPEECH - Speech delivered by Mr. Christian Noyer, Vice-President of the European Central Bank, at the American Chamber of Commerce in Germany, Stuttgart, 29 June 2001.
Presentation of the ECB's Annual Report 2000
SPEECH - Introductory statement delivered by Dr. Willem F. Duisenberg, President of the European Central Bank to the European Parliament, Strasbourg, 3 July 2001.
'Jury' returns vote of confidence in central bank
EUROPE - Morgan Stanley Dean Witter, the US investment bank, recently held a conference at which the main attraction was a mock trial of the European Central Bank, as reported in the FT London.
Russian Govt To allow More Hard currency
MOSCOW -The Russian government plans to lower the requirement for mandatory foreign currency repatriation by local exporters to 50% from 75%, an Economics and Trade Ministry spokeswoman said 2 July.
Madhavpura brass grossly violated prudent banking
INDIA - Jagdish Capoor stepped down on 30 June as the deputy governor of the Reserve Bank of India (RBI). He blames the management of the Gujarat-based Madhavpura Mercantile Cooperative Bank (MMCB) for throwing all prudential norms to the winds. Extracts…
Czech ex-minister, ex-head of bank blamed
CZECH REPUBLIC - Ex-Finance Minister Pavel Mertlik and CNB central bank ex-governor Josef Tosovsky are responsible for the forced administration imposed on the IPB [Investicni a postovni banka - Investment and Post Bank] bank last June and its…
Polish Computerland To Provide Software to Bank
POLAND - Polish computer systems integrator Computerland will provide its software systems to the domestic central bank (Narodowy Bank Polski - NBP).
Japanese reforms start with the banks
JAPAN - It's not a bad rule for the Japanese government. It may at last be grasping Japan's stoniest problem, its partly petrified banking system.
Bank of England Huntingdon's banker
UK - The drug-testing company at the centre of an intimidation campaign by animal rights activists is to be given banking facilities by the UK Government at the Bank of England.
The inside story of the Fed
BOOK - A new book on the Federal Reserve System looks at what it does and doesn't do, what it must do, how it works, and how it hasn't changed. It is written by Martin Mayer.
The IMF under pressure
SPECIAL REPORT - This week's special report looks at the future of the international financial institutions, in particular, the International Monetary Fund. This is a critical time for the IMF as it battles with the new administration in the US while at…
Third edition of the ECB's "blue book"
EUROPE - The European Central Bank (ECB) is today releasing to the public a report entitled "Payment and securities settlement systems in the European Union", also known as the "Blue Book".
MOF denies asking BOJ to use inflation targets
JAPAN - Japanese Finance Minister Masajuro Shiokawa on 29 June played down a media report that government representatives at the Bank of Japan policy board meeting yesterday, 28 June, had put a strong request to the central bank to introduce an inflation…
Grasser-Duisenberg succession talk no help to euro
EUROPE - Austrian Finance Minister Karl-Heinz Grasser said on 29 June that the debate about who will succeed Wim Duisenberg as president of the European Central Bank was not helping the euro.
Charter capital requirements raised for new banks
RUSSIA - The Central Bank of Russia board decided on 26 June to increase the charter capital requirement for new banks.
Japanese regulator penalises Goldman
JAPAN - Japanese regulators slapped heavy penalties on Goldman Sachs on 27 June after the US bank admitted it had misquoted prices in the online warrants market in Tokyo, as reported in the FT London.
Search on for new European Central Bank President
EUROPE - Yesterday, 28 June, Prime Minister Jean-Claude Juncker of Luxembourg confirmed that he was approached about the job, although he said he wouldn't want it. Mr. Juncker's comments are viewed by the media as the first evidence the European Union…
Indonesia may delay central bank law debate
INDONESIA - The Indonesian government might seriously consider a parliamentary proposal to delay debating controversial central bank law amendments.
Fiscal intelligence may not apply to Russian bank
RUSSIA - A fiscal intelligence service should be created in Russia but not within law enforcement agencies or the Central Bank, First Vice-Prime Minister and Finance Minister Alexei Kudrin said.
Euro € - Reynders wants euro boost at cash machine
BELGIUM - Didier Reynders, the Belgian finance minister, on 28 June proposed making euro notes available to consumers on a limited basis prior to next year's January changeover, to help reduce the risk of queues and delays forecast by retail groups.
Alan Greenspan on the value of public outreach
SPEECH - Federal Reserve Board Chairman Alan Greenspan gave a speech at the dedication of the Visitors Center at the Federal Reserve Bank of Chicago, Chicago, Illinois on 28 June titled The value of public outreach by the Federal Reserve.