Financial Stability

The euro goes East

Tommaso Padoa-Schioppa reports the results of a survey by the ECB on the private holdings and use of the euro outside the euro area itself.

Major revolution in Nigeria's bank industry begins

NIGERIA - A major revolution in Nigeria's banking industry began Monday with the automation of cheque clearing among all 90 banks in the country. The launching of the Nigerian Automated Clearing System (NACS), an arm of the Nigeria Inter-Bank Settlement…

Zambian central bank to introduce high value notes

ZAMBIA - The Bank of Zambia said Saturday it has embarked on a national currency restructuring program that will ultimately result in the launching of high value notes in 50,000kwacha (US$10.99)and 20,000kwacha denominations.

Non-bank credit card rules due in Thailand

THAILAND - Financial regulators were directed to draft measures to regulate credit cards issued by non-bank institutions by next month. Prime Minister Thaksin Shinawatra yesterday chaired a meeting on a proposed new credit card bill.

Polymer notes not now: RBI

INDIA - The Reserve Bank of India has said that there is no immediate plan to introduce polymer or plastic currency notes to replace the existing paper notes.

Central Bank of Russia offers more zodiac coins

RUSSIA - The Central Bank of Russia will issue more coins of the Zodiac series, starting tomorrow. It will be Scorpio now-silver two-rouble pieces and gold 25 roubles. Up to 20,000 silver coins will appear in circulation, and up to 50,000 gold, said the…

New Afghan currency to come into circulation 7 Oct

AFGHANISTAN - The head of Da Afghanistan Bank, the central bank, Dr Anwar al-Haq Ahadi, has said the new currency will be put into circulation on 15 Mizan [7 October 2002] and said that the exchange process of the old currency for the new one will be…

Afghan trade minister speaks of new currency

AFGHANISTAN - The trade minister of Afghanistan, Sayd Mostafa Kazemi, has said that Afghanistan has a positive view on capital and capital investment. He also said the new currency of Afghanistan will be a credible currency and our central bank has the…

Plastic Rs 500-notes coming soon in India

INDIA - Plastic money will soon gain currency in India. Currency notes, printed on a special, thin PVC (poly vinyl chloride) film, are likely to replace their paper counterparts from 2003.

Testimony of Fed V Chairman Roger Ferguson, 25 Sep

SPEECH - In his testimony titled 'The proposed Check Clearing for the 21st Century Act' Ferguson said that although an increasing number of payments are being made electronically, it was clear that checks will continue to play an important role in the US…

MAS issues new risk-based capital requirements

SINGAPORE - With effect from 1 October 2002, holders of Capital Markets Services (CMS) licences will be subject to new risk-based capital requirements under a subsidiary legislation of the Securities and Futures Act 2001.

Policy issues for central banks in retail payments

REPORT - This consultative report published 18 September explores policy issues for central banks that arise from current trends in retail payments markets. It puts forward four public policy goals for maintaining and promoting efficiency and safety in…

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