Monetary Policy
IMF reach compromise over central bank law changes
INDONESIA - Indonesia appears to be making some headway in its efforts to get fresh loans from the International Monetary Fund.
Interest rate decisions due
EUROPE - The European Central Bank and the Bank of England will both, separately, make their latest interest rate decisions tomorrow, 5 July. Neither is expected to cut rates further.
Taiwan sets up blue-ribbon economic committee
TAIWAN - Taiwan paved the way on 4 July for a multi-party task force to advise how to boost the island's faltering economy, a presidential aide said.
RBNZ introduces E-mail statement service to public
NEW ZEALAND - The Reserve Bank of New Zealand on 4 July started to deliver its press statements to the general public via e-mail for the first time.
Russian gold and currency reserves grow by $500m
RUSSIA - The PR department of the Central Bank has reported that between 15 June and 22 Russia's gold and currency reserves grew from $33.7 billion to $34.2 billion.
Indonesia expects smooth talks with IMF mission
INDONESIA - Indonesia's chief economics minister said on 4 July he expected smooth talks with an IMF team due to arrive this week on a mission aimed at paving the way for resumption of a $5 billion loan programme.
Former Czech bank head accused of dubious actions
CZECH REPUBLIC - A special parliamentary committee on 3 July savagely attacked the Czech minority government for the way it handled the country's biggest banking crisis last June.
'Jury' returns vote of confidence in central bank
EUROPE - Morgan Stanley Dean Witter, the US investment bank, recently held a conference at which the main attraction was a mock trial of the European Central Bank, as reported in the FT London.
Presentation of the ECB's Annual Report 2000
SPEECH - Introductory statement delivered by Dr. Willem F. Duisenberg, President of the European Central Bank to the European Parliament, Strasbourg, 3 July 2001.
Christian Noyer speech - The Euro Area
SPEECH - Speech delivered by Mr. Christian Noyer, Vice-President of the European Central Bank, at the American Chamber of Commerce in Germany, Stuttgart, 29 June 2001.
Deputy head named at Bank of Kuwait
KUWAIT - Mustafa Al-Shimali has been appointed as head of the board of the Bank of Kuwait and the Middle East.
Fed settles with ex-Bankers Trust exec
US - The U.S. Federal Reserve said yesterday, 2 July, it had settled charges brought against a former Bankers Trust executive in connection with accounting violations at the bank during the mid-1990s.
National Bank of Hungary appoints deputy governors
HUNGARY - The National Bank of Hungary, the central bank of Hungary, has appointed Peter Adamecz and Henrik Auth as deputy governors.
Fed approves Citigroup's purchase of EAB
US - Federal banking regulators approved Citigroup Inc.'s $1.6 billion purchase of European American Bank, a deal designed to expand Citibank's presence in the New York metropolitan area.
The IMF under pressure
SPECIAL REPORT - This week's special report looks at the future of the international financial institutions, in particular, the International Monetary Fund. This is a critical time for the IMF as it battles with the new administration in the US while at…
The inside story of the Fed
BOOK - A new book on the Federal Reserve System looks at what it does and doesn't do, what it must do, how it works, and how it hasn't changed. It is written by Martin Mayer.
Bank of England Huntingdon's banker
UK - The drug-testing company at the centre of an intimidation campaign by animal rights activists is to be given banking facilities by the UK Government at the Bank of England.
Japanese reforms start with the banks
JAPAN - It's not a bad rule for the Japanese government. It may at last be grasping Japan's stoniest problem, its partly petrified banking system.
Madhavpura brass grossly violated prudent banking
INDIA - Jagdish Capoor stepped down on 30 June as the deputy governor of the Reserve Bank of India (RBI). He blames the management of the Gujarat-based Madhavpura Mercantile Cooperative Bank (MMCB) for throwing all prudential norms to the winds. Extracts…
Russian Govt To allow More Hard currency
MOSCOW -The Russian government plans to lower the requirement for mandatory foreign currency repatriation by local exporters to 50% from 75%, an Economics and Trade Ministry spokeswoman said 2 July.
Alan Greenspan on energy prices and the economy
SPEECH - Federal Reserve Board Chairman Alan Greenspan gave a speech before the Economic Club of Chicago, Chicago, Illinois on 28 June titled Impact of energy on the economy.
ECB President on the success of European EMU
SPEECH - President of the European Central Bank, Dr. Willem F. Duisenberg, on the occasion of the annual conference of the Ifo Institute in Munich on 26 June 2001.
Alan Greenspan on the value of public outreach
SPEECH - Federal Reserve Board Chairman Alan Greenspan gave a speech at the dedication of the Visitors Center at the Federal Reserve Bank of Chicago, Chicago, Illinois on 28 June titled The value of public outreach by the Federal Reserve.
Charter capital requirements raised for new banks
RUSSIA - The Central Bank of Russia board decided on 26 June to increase the charter capital requirement for new banks.