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PBOC to support corporate bond issues
The People's Bank of China will support more corporate bond issues to diversify risk and ease pressure on commercial banks, vice-governor Wu Xiaoling said.
ECB annual quality report on euro area statistics
The European Central Bank on Friday 14 January published a document entitled "Euro area balance of payments and international investment position statistics - Annual quality report". The report includes quantitative indicators developed by a joint ECB …
SARB launches upgraded banknote series
The South African Reserve Bank (SARB) on Monday 17 January launched banknotes with improved security features which will go into circulation from 1 February 2005.
ECB's Padoa-Schioppa to visit Stockholm
Tommaso Padoa-Schioppa, member of the Executive Board of the European Central Bank, will visit Stockholm on Thursday, 20 January at the invitation of the Sveriges Riksbank.
SARB's Mboweni on South Africa's new banknotes
In a speech given on 17 January, Tito Mboweni of the South African Reserve Bank said the preparation for the issue of the upgraded series of banknotes has been a complex and a painstaking one and we are very proud of the result.
St Louis Fed's Poole on GSE risks
In a speech on 'GSE risks' given on 13 January, William Poole of the Federal Reserve Bank of St. Louis said Fannie Mae and Freddie Mac should be required to hold more capital to cushion against shocks, even ones that seem unlikely.
Korea holds rates at record low
South Korea's central bank on Thursday 13 January froze its key interest rate for January at a record low of 3.25 per cent, citing robust exports.
Thailand plan may cut central bank powers
According to a report published on Friday 14 January, Thailand's finance ministry is planning an overhaul of the financial regulatory system, which would restrict the power of the Bank of Thailand by creating a new independent agency to supervise banks…
Slovenia central bank sees euro criteria met in 06
Slovenia will meet the EU convergency criteria for countries that want to join the eurozone by the middle of 2006, according to the Bank of Slovenia.
Faster growth may lead to higher rates, says Weber
European Central Bank council member Axel Weber said that the central bank may have to increase interest rates if the eurozone economy expands more quickly than it expects.
ECB decides on the design for its new premises
At Thursday's meeting, 13 January, the European Central Bank reached a decision on the design of the ECB's new premises in Frankfurt am Main, Germany. The Governing Council concluded that the revised design concept of COOP HIMMELB(L)AU best meets the…
ECB's biannual information on euro counterfeiting
The European Central Bank revealed on Thursday 13 January that in the second half of 2004, a total of 287,000 counterfeit euro banknotes were withdrawn from circulation, both in euro area and in non-euro area countries.
ECB's Trichet on the euro; successes & challenges
In a speech on 'The euro; successes and challenges' given on 14 January at the Anglo-American Press Association in Paris, Jean-Claude Trichet of the ECB reiterated his view that "sharp" gains in the euro are "unwelcome and undesirable for economic growth…
Danmarks Nationalbank, Monetary Review 4th Q 2004
The Danmarks Nationalbank's Monetary Review for the fourth quarter 2004 includes the articles: Recent economic and monetary trends, Volatility in the overnight money-market rate, The EU Constitutional Treaty and EMU and Transparency in capital markets.
ECOWAS central bank governors conclude meeting
The 15th meeting of the Committee of Governors of the ECOWAS central bank took place in Accra on Wednesday 10 January, with a call on member States to strive for viable and productive economies that could compete and withstand the shocks from the global…
ECB press conference with questions and answers
Speaking at the ECB's press conference on Thursday 13 January, after the Governing Council left eurozone interest rates unchanged, Jean-Claude Trichet said there is no significant evidence that underlying domestic inflationary pressures are building up…
Snow says US trade deficit reflects strong growth
Speaking on Wednesday 12 January, US Treasury Secretary John Snow said that the country's record trade deficit set in November was a result of US economic growth outpacing that of other countries.
Fukui: Zero-rate policy will become more effective
Bank of Japan governor Toshihiko Fukui told a meeting in Tokyo on Thursday 13 January that the zero-rate policy will become more effective as the economy extends a recovery.
NBS governor considers intervention a success
The governor of the Slovak National Bank (NBS), Ivan Sramko, said the intervention on Monday 10 January by the central bank against the strong crown was a success. Following Wednesday's Cabinet meeting, Sramko told reporters he believed the interventions…
Iraq's cb gets recommendations from USAID program
Bank Supervision advisors under the United States Agency for International Development (USAID) Iraq Economic Governance II program have delivered a set of recommendations to the Central Bank of Iraq on assessing risks and designing enforcement actions…
NZ/Australian banking regulation
In January 2004, New Zealand's Minister of Finance and the Australian Treasurer announced a proposal for closer integration of the prudential regulation of the New Zealand and Australian banking systems. The RBNZ made public on Wednesday 10 January the…
BIS: Asset prices and banking distress
This BIS Working Paper links banking with asset prices in a monetary macroeconomic model. It finds that the effect of falling asset prices is indirect, non-linear, and involves feedback from the banking system in the form of a credit contraction. The…
Minehan on the US economy: 2005 and beyond
In a speech on 'The US economy: 2005 and beyond' given on 12 January, Cathy Minehan of the Federal Reserve Bank of Boston said increased regulatory red tape is harming business spending, the IPO market and jobs growth.
Fed's Ferguson on recessions and recoveries
In a speech on 'Recessions and recoveries associated with asset-price movements: What do we know?' given on 12 January, Roger Ferguson of the Federal Reserve said detecting asset-price overvaluations and undervaluations is controversial in hindsight and…