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Central bank coxswain can't fully trust the crew
The Bank of England sees its role as a manager of other people's behaviour, this article says. A bit like the coxswain in a rowing race, the Bank both barks out orders and has a well-trained hand on the tiller. Central bankers, inevitably, like to think…
Implementing Basel II: Practical considerations
The Basel Committee published "Implementation of Basel II: Practical Considerations" on 29 July. While the revised Framework has been designed to provide options for banks and banking systems world-wide, the Committee says it acknowledges that moving…
Bank of Italy - Annual Report 2003
The Bank of Italy has published its Annual Report for the year ended 2003. World economic activity gathered pace from the middle of 2003 as international political tensions eased, and monetary and fiscal policies remained highly expansionary. The…
IMF's Carstens on the challenges facing the IMF
In a speech on 'The challenges facing the IMF' given on 27 July, Agustin Carstens of the IMF said he believes we have a good handle on the avenues that should be pursued for improving the Fund's ability to identify emerging problems. What is less certain…
Inside help suspected in IMF, World Bank threat
US counter-terrorism officials have told officials at the World Bank and International Monetary Fund that they think plans for a possible attack on the two financial institutions were so detailed that terrorists must have had inside help, the New York…
Brazil's cb has 'autonomy' on rates:, Palocci
Brazil's President Luiz Inacio Lula da Silva gave the central bank power to set interest rates as it sees fit to control inflation, said Antonio Palocci, Brazil's finance minister, in an interview with the Epoca newsmagazine.
Bundesbank adopts Autonomy data package
The Deutsche Bundesbank is to deploy technology from Autonomy to run an advanced information retrieval system for 12,000 employees.
No stocks bought by BOJ in late July
Data released on Tuesday 3 August showed that the Bank of Japan did not buy any stocks from domestic banks in late July.
Sin on development of Singapore's capital markets
In a speech on 'Development of Singapore's capital markets' given on 26 July, Ng Nam Sin of the Monetary Authority of Singapore said Singapore's debt capital market is an important part of our financial system. Continuous innovation in the markets will…
BNM's Zeti on investing in the new Malaysia
In a speech on 'Remaking Malaysia: Investing in the New Malaysia' given on 3 August, Dr Zeti Akhtar Aziz of the Bank Negara Malaysia said during this period of strong fundamentals and rising potential for economic expansion, Malaysia has the flexibility…
Federal Reserve announce changes to check services
The Federal Reserve Banks announced on 2 August further changes to increase the efficiency of their check-processing operations. Check processing operations at nine sites will be discontinued and the volumes at these sites shifted to other Federal…
Bank Negara Malaysia - Annual Report 2003
The Central Bank of Malaysia has published its Annual Report for the year ended 2003. The more optimistic global environment and stronger domestic economic conditions have enhanced Malaysia's prospects as we advance into 2004, the annual report says.
National Bank of Denmark - Annual Report 2003
The National Bank of Denmark has published its Annual Report for the year ended 2003. Growth in the Danish economy was sluggish in 2003. The modest increase in GDP of 1.0 per cent in 2002 was followed by zero growth in 2003. However, after two years of…
Snow reassures after IMF, World Bank terror threat
US Treasury Secretary John Snow sought to calm nerves on Monday 2 August following newly disclosed terror threats against the U.S. financial institutions including the IMF and World Bank in Washington.
Hungary holds key interest rates steady
The National Bank of Hungary left its key interest rates unchanged at 11.5 per cent on Monday.
Century-old vault to be opened to Japan's public
The Bank of Japan will open its oldest underground vault to the public for the first time on 3 August at its headquarters in Tokyo.
Australian PM says no case for rate rise
Australian Prime Minister John Howard said that there is no case for an interest rate rise. The Reserve Bank of Australia was due to hold a Board Meeting on 3 August, with most analysts expecting interest rates to remain unchanged.
Joint Forum: Outsourcing in Financial Services
The Joint Forum released a report entitled Outsourcing in Financial Services for consultation on 2 August. The report examines the growth in outsourcing in the financial sector and the trends that have accompanied this growth.
Bank of Thailand - Annual Report 2003
The Bank of Thailand has published its Annual Report for the year ended 2003. The Thai economy expanded well in 2003, growing by 6.7 percent which was higher than that of 5.4 percent in 2002. The main impetus to growth came from the continued increases…
Dallas Fed's McTeer on transparency
In a speech given on 13 July Bob McTeer of the Federal Reserve Bank of Dallas said that Europe seems to be doing better economically, but what it greatly needs are economic reforms - especially labour market reforms-to give them good job growth.
Bundesbank's Weber on sixty years of Bretton Woods
In a speech on 'Sixty years of Bretton Woods: back to the future?' given on 23 July, Axel Weber of the Bundesbank said over the years the IMF has repeatedly expanded its policy of lending to debtors that are in arrears to the private sector (LIA policy)…
Hoenig on US monetary policy, economic outlook
In a speech on 'Monetary policy and the economic outlook' given on 26 July, Thomas Hoenig of the Federal Reserve Bank of Kansas City said recent U.S. economic performance has been good. Growth has been strong, inflation has been low, and even the labour…
IRAQ'S NEW CENTRAL BANK
In April 2003 the central bank of Iraq was reduced to rubble. Its offices were ransacked, its records burnt, its vaults partly flooded (it sits on the banks of the Tigris), and its governor had fled. One of Saddam Hussain's sons had taken about $1…
SAMA awards ATM contract
CyberGuard Corporation, a technology leader in network security, announced Thursday that the Saudi Arabian Monetary Agency (SAMA) has selected CyberGuard's premium firewall/VPN appliances to provide the information security for a new ATM network.