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IMF Quarterly Global Financial Stability Report
REPORT - The IMF has published its Global Financial Stability Report on market developments and issues for June 2002. It provides quarterly assessments of global financial markets and addresses emerging market financing in a global context. A transcript…
Central Bank of Turkey - Annual Report 2001
ANNUAL REPORT - The Central Bank of the Republic of Turkey has posted its annual report for 2001 onto its website today.
Why the Fed should ignore the stock market
ARTICLE - Opinion from James B. Bullard and Charles M. Hokayem of the Federal Reserve Bank of St. Louis argue the Fed should not react to equity price developments because it would be 'similar to looking in a mirror', saying that such a policy would only…
Bank of England Working Paper No 156
RESEARCH - Bank of England working paper on 'Equilibrium exchange rates and supply-side performance' by Gianluca Benigno and Christoph Thoenissen.
Speech by Jaime Caruana, B of Spain, 24 April
SPEECH - Speech by Jaime Caruana, governor of the Bank of Spain, at the Federal Reserve Bank of Chicago, on asset price bubbles and the implications for monetary, regulatory and international policies.
Speech by Tony Latter, HKMA, 12 June
SPEECH- Tony Latter, deputy chief executive, Hong Kong Monetary Authority on Hong Kong's currency board today and the unexpected challenge of deflation. Have central banks become a victim of their own success?
Speech by Fed governor Susan S. Bies, 11 June
SPEECH - Remarks by Susan S. Bies on bank performance and corporate governance at the 112th Annual Meeting of the Tennessee Bankers Association, Hot Springs, Virginia.
Polish governor's bodyguards removed
ARTICLE - The relationship between the government and central bank in Poland continues to deteriorate. A full apology from the government is in order over the latest episode, argues an editorial in the Warsaw Business Journal.
Dutch central bank move supports gold
NETHERLANDS - Jan Lamers of the Netherlands Bank is the first central banker to confirm that the volume of gold being lent to the market has started to decline.
Anti-money laundering rules in Pakistan
PAKISTAN - The State Bank of Pakistan (SBP) has made it mandatory for banks and financial institutions to enforce 'Know Your Customer' (KYC) rules to counter the threat of money laundering, official sources in the central bank said on Tuesday.
Irish growth rate set to dip says CB
IRELAND - Economic growth in Ireland is set to halve in 2002, but next year should see an upturn, according to the country's central bank.
Vote of confidence for Brazil governor
BRAZIL - The Brazilian government's candidate for presidential elections, Jose Serra, said on Tuesday he hopes to keep Arminio Fraga as president of the central bank if he wins the October vote.
Korean governor hints at rate rises
KOREA - Bank of Korea governor Park Seung signalled on Wednesday that more interest rate rises might be in the pipeline as he stressed the need to curb price pressures in a rapidly expanding economy.
BoJ keeps monetary policy unchanged
JAPAN - Japan's central bank left its monetary policy unchanged Wednesday, sticking to its stance of freeing up cash to circulate through the financial system, reports Dow Jones.
Private sector consensus on sov debt restructuring
PRESS RELEASE - A joint press release issued by private sector financial industry leaders announces a consensus inspired by market-based principles on crisis management and sovereign debt restructuring, June 11.
UAE cb planning supervisory system for hawala
UAE - The Central Bank of the United Arab Emirates is devising a licencing and supervisory system for hawala and will host a conference next year to follow up recommendations of an international conference held last May.
Egypt cb opens new check clearing house
EGYPT - The new electronic Cairo Clearing House at the Central Bank of Egypt (CBE) was inaugurated yesterday. Its services will be available to banks nationwide and its computerized system will be capable of clearing up to 100,000 cheques a day.
BOK considers redenomination of currency
KOREA - The Bank of Korea is studying ways to reform the present currency unit system by issuing new won notes and coins, in a move to re-denominate the won downward and upgrade its value. This will involve shaving one or two zeros off the won's face…
Reform of Taiwan cb board may improve independence
TAIWAN - Taiwan's cabinet has submitted a reform plan for the board of directors at the Central Bank of China, which focuses on the bank's independent status. Once the amendment is passed by the legislature, the central bank will maintain its supervisory…
Breather won by Bank Indonesia on $1.3bn loans
INDONESIA - Bank Indonesia has reached a rescheduling agreement with the London Club of commercial creditors to extend the repayment period of loans worth around $300 million to 17.5 years, while other loans worth $1 billion will be extended for 10…
Fed ends sanctions against Bank of New York
USA - The Federal Reserve has announced it is terminating its sanction against the Bank of New York because the bank has complied with its agreement to correct alleged deficiencies in preventing money laundering.
Preventing country crises and corporate failures
LETTER - The most recent 'Economic Letter' published on the San Francisco Fed's website concerns 'Country Crises and Corporate Failures: Lessons for Prevention and Management?', by Reuven Glick of the Center for Pacific Basin Monetary and Economic…
IMF Survey, Vol. 31, No. 11, 10 June
SURVEY - The latest fortnightly issue of the IMF Survey includes articles on world military spending, Independent East Timor, the pros and cons of tax incentives, financial development and economic growth, as well as interviews with John Shoven on US…
Gold in the IMF: A Factsheet
FACTSHEET - The IMF has published a factsheet detailing what its gold holdings are, how it acquired them, what its policy is on gold, and how and when it has used its gold in the past.