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Credit Suisse face Abacha money laundering probe
Switzerland's banking regulator said Wednesday that it filed a formal complaint against Credit Suisse Group over its acceptance of millions of dollars linked to the late Nigerian dictator General Sani Abacha.
Summers welcomes IMF aid for Turkey
The United States on Wednesday welcomed a $10 billion rescue package agreement between the International Monetary Fund and Turkey, saying that its financial stability was important to the US.
Indonesia Ramli welcomes back Syahril Sabirin
Indonesian coordinating minister for economic affairs Rizal Ramli welcomed Wednesday the release of the country's central bank governor Syahril Sabirin from his house arrest status, hoping that no changes would be made in term of monetary policies.
Pakistan banks told to double capital base by 2003
Pakistan has told banks to double their minimum paid-up capital to one billion rupees ($17.2 million) by the start of 2003.
Korea c.bank says holding rates for now
Korea may cut interest rates to ward off a sharp economic downturn but only if prices remain under control, Bank of Korea Governor Chon Chol-hwan said on Thursday.
Ex-Fed Blinder - Japan needs cheaper yen
Alan Blinder, a former deputy chairman of the Federal Reserve, said Thursday Japan ought to boost demand by making its currency cheaper.
Cyprus prepares to dismantle interest rate regime
Cyprus is preparing a major shake-up of its financial markets in January to remove measures left over from its days as a British colony and to shore up its economy prior to joining the European Union.
Yugo banks told to prepare for international audit
Yugoslavia's central bank told commercial banks on Wednesday to prepare for international auditors as monetary authorities tried to assess the banking sector ahead of planned reform.
El Salvador makes way for US dollar general use
El Salvador is making final preparations to introduce the US dollar into general use in January, importing the US currency and training bank employees how to avoid money laundering and counterfeit schemes, officials said on Wednesday.
Fed's Ferguson says US economy risks balanced
The risks to the US economy are evenly balanced between the dangers of an excessive slowdown and an inflationary overheating, Federal Reserve Vice Chairman Roger Ferguson said on Wednesday.
Irish hoarding of coins poses euro problem
The image of the Irish hoarding their untaxed earnings under the mattress may be apocryphal, but a study published on Monday estimated that as much as I£30m (E38.1m) in coins may be kept in jam jars, glass bottles, biscuit tins even in shoe boxes.
House okays new Philippines Central Bank Act
The Philippines House of Representatives approved on second reading Tuesday evening, a measure introducing amendments to the Central Bank Act. Representatives said the new Central Bank Act would improve the Bangko Sentral's effectiveness and strengthen…
Oman cenbank plans Electronic Fund Transfer system
Oman's central bank proposes to introduce Electronic Funds Transfer system to facilitate faster and accurate domestic inter-bank payments.
Vietnam banks dispute compulsory reserve ratios
Commercial banks have criticised the central bank's increase of the compulsory ratio of deposit reserves from this month from 8% to 12% for call and less than 12-month deposits in the dollar.
Italy govt prepares to defuse bank loan crisis
Italy's government on Tuesday prepared to defuse a potential crisis threatening the country's banks, which may have to refund customers huge amounts of loan interest payments after a Supreme Court ruling.
Bangladesh Bank to increase forex reserves
Bangladesh Bank, the country's central bank, has launched a vigorous move to replenish the country's emaciated foreign exchange reserve by relaxing its regulation on remittances, the United News of Bangladesh reported on Tuesday.
Kenya bill to control bank interest rates passed
Kenya's parliament today passed with amendments the Donde bill that seeks to regulate interest rates charged by commercial banks.
ECB publishes revision of Eurosystem instruments
The European Central Bank Tuesday said it has published its revision of Eurosystem monetary policy instruments and procedures.
Venezuela 'overdrive' plan still not in effect
Venezuelan President Hugo Chavez acknowledged Tuesday that a $2.1bn government spending plan he announced two months ago to spur economic growth had still not taken effect.
Fed Parry says economy growing at sustainable pace
Federal Reserve Bank of San Francisco President Robert Parry said on Tuesday that the US economy had shifted into a more sustainable growth range in recent months and that employment growth had moderated.
Zeti gives Dec. 31 as deadline for bank mergers
Bank Negara governor, Datuk Dr Zeti Akhtar Aziz said today that the December 31 deadline for bank mergers remained unchanged.
Bank of Italy calls for action on usury ruling
Italy's central bank called for the government to take urgent action to soften the impact of a court ruling that could force banks to pay as much as 50 trillion lire to consumers who paid too much interest on home loans.
Georgian c.bank head sees stable lari, IMF loans
Georgia's lari currency should be stable next year, enabling the country to meet conditions to unlock loans from its largest creditor, the International Monetary Fund, the central bank governor said in an interview with Reuters.