Financial Stability

Ferguson speech-US undergoing inventory adjustment

The U.S. economy "is clearly undergoing a stock adjustment" to reconcile the supply and demand of capital goods, Federal Reserve Vice Chairman Roger Ferguson said on Feb 14 at a speech at Vanderbilt University. Ferguson said it is unclear how long the…

Peter Nicholl - Success of Bosnia payment system

BiH Central Bank Governor writes about the successful introduction of new payments system in Bosnia and Herzegovina. He says it is the result of teamwork Vice Governor Kemal Kozaric. He said that it was an historical day for BH. Foreign currency reserves…

Mains points of CBBH strategic plan for 2001

The Central Bank of Bosnia & Herzegovina publish a monthly newsletter about activities and news at the central bank. Below is one of the articles which summarises the mains points of CBBH strategic plan for 2001.

ECB slams banks over cross-border payment charges

The European Central Bank on Feb. 8, 2001 accused commercial banks of persistently overcharging retail customers for cross-border payments and said it may have to step in unless fees are cut substantially this year. The ECB said in its February report…

Suranyi cites record of six years of econ growth

In his farewell speech on Feb. 8, 2001 National Bank of Hungary (NBH) president Gyorgy Suranyi emphasized the sustainable growth achieved in Hungary since 1996. Speaking at a press conference in Budapest, Mr Suranyi, whose term expires on March 1,…

Burst IT-bubble temporary setback - Swedish c.bank

The information technology revolution will continue - despite the collapse of many IT stocks in 2000 - with unforseeable consequences for future economic policy, Sweden's central bank said on Feb 7, 2001. Riksbank governor Urban Backstrom made it clear…

Philippines 1st e-Bank gets go-ahead for e-banking

The Philippines central bank has formally confirmed 1st e-Bank's authority to continue providing electronic banking services via its present cellphone banking system and soon a proposed Internet banking system, 1st e-Bank said in a statement. The BSP…

Cash launch to boost public support for euro-Noyer

European Central Bank Vice President Christian Noyer said on Feb. 2 that public support of the single currency would grow with the introduction of euro notes and coins from January 1, 2002. Echoing earlier comments from other ECB officials, Noyer said it…

International Bank Insolvencies: cbank perspective

Problems in the banking sector of some economies, including bank insolvencies, pose numerous challenges to policy makers, lawyers and regulators among others. Central bank lawyers are the target audience for this book. It is co-edited by Gregor Heinrich…

Speech: Pedro Solbes at Euroclear Euro Conference

Pedro Solbes, the Member of the EU Commission Economic and Monetary Affairs, gives a speech to the Euroclear conference titled 'Preparation for the euro cash changeover: state of play and tasks ahead'.

UK's CrestCo goes electronic

London's international settlement house, CrestCo, is proposing to take the risk and cost of errors out of processing takeovers in the UK by replacing the paper form-filling with an electronic process. The proposals for Takeover Procedures in Crest,…

MTS sees JGB volume soaring with electronic deals

The start of an electronic inter-dealer brokerage system for Japanese government bonds (JGBs) will bring a huge increase in trading volumes, MTS Japan Securities CEO William Campbell said in an interview.

Core principles for payment systems up for comment

The final reports on the CPSS "Core Principles for Systemically Important Payment Systems" and the joint CPSS/IOSCO consultative report on the "Recommendations for Securities Settlement Systems" have now been published. Both reports are available on the…

Japan's RTGS to go live Jan 4 as planned

The Bank of Japan said Jan 2 it would launch its new real-time gross settlement system for bond and money market trading on Thursday, as planned. The BOJ made the announcement after earlier conducting a last-minute systems test to make sure all…

Central Bank of Nigeria held 224 clearing sessions

The Central Bank of Nigeria (CBN) in Kano has this year held 224 clearing sessions, during which 275,681 instruments valued at about N181 billion were cleared, the CBN Kano branch controller, Mr. Okun Folami, has said.

HK US dlr clearing volume picking up over time

Hong Kong's recently introduced U.S. dollar clearing system is unlikely to see volume pick up fast in the near-term as clients test the waters and wait for more services to be priced in U.S. dollars, said settlement bank Hong Kong and Shanghai Banking…

UK govt climbdown on payment system regulation

The UK government on Wednesday dropped plans for a new banking regulator to monitor the payments system, and handed responsibility to the Office of Fair Trading, which has general responsibilities for promoting competition.

EDS, Orga win Austrian gov't smartcard contract

The Austrian government yesterday provisionally awarded a much delayed smart card contract to US-based Electronic Data Systems Corp and German chipcard manufacturer Orga Kartensysteme. The smart cards will be issued to the approximately eight million…

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