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IMF Paper: Central banks and financial stability
An IMF Working Paper titled "Responsibility of Central Banks for Stability in Financial Markets" asks What is the role of central banks in ensuring financial stability? This paper addresses this controversial subject, in part by drawing on the…
Special Exhibition at the Bank of England Museum
This week the Bank of England marks the 250th anniversary of the birth, in 1753, of its renowned architect Sir John Soane with the opening of a special commemorative exhibition in the Bank's Museum, 8 July.
Macfarlane at Business Council of Australia Dinner
In a speech at the Business Council of Australia Annual Dinner given on 8 July Ian Macfarlane of the Reserve Bank of Australia asked why has the Australian economy recently shown much more stable behaviour than the much larger and more diversified US…
Union: Trichet to take over ECB presidency, 1 Nov
Bank of France Governor Jean-Claude Trichet will replace Wim Duisenberg at the head of European Central Bank on Nov. 1, Agence France-Presse reported, citing Jean-Marie Roux, a union member at the French central bank.
Bank of Estonia's Ross to take up IMF role
The head of the Bank of Estonia's division for international and public relations Tanel Ross is to become adviser to the director of the Nordic-Baltic Constituency of the International Monetary Fund (IMF) in August.
Putin signs law to lower dollar sale requirement
Under a new amendment to the law on currency regulation and control in Russia, the amount of mandatory dollar revenue sales has been cut from 50 per cent to 30 per cent.
Greenspan to deliver monetary testimony 15 July
The US House Financial Services Committee has announced Federal Reserve Chairman Alan Greenspan will testify before the committee on 15 July.
New Iraq banknotes will replace 'Saddam dinar'
The US-led coalition authority in Iraq plans to print and circulate new Iraqi dinars later this year. The new notes will be swapped for both the "Saddam dinar", which circulates in most of the country, and the older, so-called "Swiss dinar", which is…
Bundesbank- German deficit may make ECB job harder
Bundesbank Chief Economist Hermann Remsperger said in an interview a third breach in as many years by Germany "would further damage the credibility of Europe's stability and growth pact, which would ultimately make a stability-oriented monetary policy…
Central banker and football fan
Mervyn King, the new governor of the Bank of England is a well-known supporter of Aston Villa, the English football club. In fact, until recently King was senior vice-president of the club.
Iraq to get central bank - free from interference
Iraq will soon have an independent central bank for the first time, free from political interference the New York Times reports.
Crockett honoured
Andrew Crockett always did have one of those names that look as if it is just waiting to have a "sir" in front of it. Now the space has been duly filled as the former central banker and general manager of the BIS received a knighthood from the Queen of…
A double bubble of the Fed's own making
This article suggests that the Fed's decision to reduce interest rates by only a quarter point misled markets and casts doubt on the Federal Reserve's reputation as a "paragon of virtue" and undermined the popular myth that it is Mr Duisenberg and the…
Sanusi - CBN's standpoint on anti-money laundering
In the speech 'Central Bank of Nigeria's standpoint of anti-money laundering compliance' Joseph Sanusi of the Central Bank of Nigeria said the CBN will continue to ensure compliance with the FATF guidelines, in addition to other domestic laws on money…
IMF's Krueger welcomes Iraq's new banknotes
Anne Krueger of the IMF on Monday welcomed plans to introduce a new issue of banknotes in Iraq. She commented that "the availability of an adequate supply of domestic currency, one that is both secure and includes appropriate denominations to facilitate…
Padoa-Schioppa-Central banks & financial stability
In the speech 'Central banks and financial stability' given on 7 July Tommaso Padoa-Schioppa of the ECB said the conceptual framework for financial stability analysis, unlike that of monetary stability, is still being developed. Further work in this area…
A lean machine
The central bank in Ghana is cutting back its staff drastically. Some central banks in the Eurosystem will be jealous.
Stand-off in Bulgaria
The mess in the ECB appointment process also needs to be cleared up to set anexample to other countries as to how these things should be done. Bulgaria might have benefited from this.
Reserve Bank of New Zealand Bulletin, June 2003
The Reserve Bank of New Zealand published its quarterly Bulletin for June 2003 on 8 July. The first article is the Reserve Bank's annual review of the banking system. It looks at the financial condition and performance of registered banks and…
Dogfighting over the ECB
The European League for Economic Cooperation (ELEC) has issued aresolution betraying unease that appointments to the ECBexecutive board could degenerate into a more or less continuous politicaldogfight.
King assumes his throne
The long-awaited moment has arrived: Mervyn King has moved into EddieGeorge's offices on Threadneedle Street, now that he has been baptised asgovernor of the Bank of England.
A twenty-first century BIS
73 years on and the world's oldest international financial organisationwith it, the BIS is alive and well. As usual, a swarm of central bankgovernors great and small descended on Basel last weekend to participate inthe BIS annual meetings.
Uzbekistan action plan on currency convertibility
The government of Uzbekistan has made a pledge to introduce the long-awaited convertibility of the national currency, setting late November as the deadline for this move. An action plan developed by the Uzbek government aims to remove all restrictions on…
Triennial central bank survey of for ex activity
In April and June 2004, the G10 central banks will carry out their regular global survey of foreign exchange and derivatives market activity coordinated by the BIS. The survey was last conducted in April and June 2001. An increased number of 54 central…