Financial Stability
BoK chief on financial supervision
In this speech, the governor of the Bank of Korea, Seong-tae Lee, suggests that financial reforms and stricter supervision standards ensured that the damage from the 2003 credit card crisis was minimal.
Fiji ponders remittances' effects
The governor of the Reserve Bank of Fiji, Savenaca Narube, suggested that the central bank would like to see remittances channelled towards investment projects and other "productive purposes".
SWIFT broke laws - EU committee
SWIFT, an international financial data transfer agency, breached European data privacy laws in handing over personal data to American investigators, according to a report by a European Union committee.
Europe's new large-value payment system on target
Europe's new large-value payment system is on schedule to go live in 2007 says the European Central Bank in its third annual report on TARGET2.
Pursuing financial stability - RBI speech
In the speech 'Central Banks and Risk Management: Pursuing Financial Stability' given on 21 November, Rakesh Mohan, deputy governor of the Reserve Bank of India discusses various aspects of central banks' role in the pursuit of financial stability.
Buba's Fabritius on the new TARGET2 system
In the speech 'The new TARGET2 system and recent developments in European securities settlement' given on 15 November Hans Georg Fabritius of the Bundesbank said we will only be able to realise TARGET2 Securities with the active involvement and…
Mboweni on the National Payments System in SA
In a speech given on 15 November Tito Mboweni of the South African Reserve Bank said collaboration between the Bank and the banking industry has resulted in the South African Payment System being recognised as an example or model for development…
ECB wants more clarity on Sepa for cards
The European Central Bank said Monday 20 November it has laid down a new set of objectives for payment card schemes to achieve in order to become Sepa-compliant, amid concerns that current provisions would lead to higher prices and a deterioration in…
Poole on responding to financial crises
In the speech 'Responding to financial crises: What role for the Fed?' given on 16 November William Poole of the Federal Reserve Bank of St. Louis said the Fed should play as limited a role as possible in a financial market crisis and took aim at Fannie…
Gieve: Preparing for cross-border financial crisis
In the speech 'Practical issues in preparing for cross-border financial crises' given on 13 November Sir John Gieve of the Bank of England said central banks and regulators around the world need to rehearse dealing with a financial crisis in order to…
BoE's Gieve says hedge funds pose stability risks
Bank of England deputy governor John Gieve has warned that hedge fund activity does pose short term risks to financial stability.
EC's McCreevy:Time to deliver on SEPA
In the speech 'Time to deliver on SEPA' given on 13 November Charlie McCreevy, the European Commissioner for Internal Market and Services, urged banks to speed up adoption of common standards for customers to make euro payments throughout Europe from a…
RBNZ Financial Stability Report, November 2006
The Reserve Bank of New Zealand published its November 2006 Financial Stability Report on 15 November. RBNZ governor Alan Bollard said banks continue to appear well capitalised and continue to return strong profits.
Iran will not use dollar in trade
Iran plans to carry out transactions in currencies other than the dollar in retaliation for US anti-Iran banking policies, IRNA reported Tuesday 14 November.
EU single payments area plan in doubt
European Union lawmakers said Wednesday 15 November that plans for a single payments area in Europe could hit the buffers unless governments reach a deal soon.
ECB's Tumpel-Gugerell on SEPA
In the speech 'SEPA - Opportunities by change' given on 13 November Gertrude Tumpel-Gugerell of the ECB said it is important to underline that payment instruments will have to adapt to the SEPA environment.
Drug linked to disintegrating euros
A mystery substance that caused some euro banknotes in Germany to fall to pieces may be linked to the party drug crystal speed, Der Spiegel magazine reported on Saturday 11 November, quoting regional police.
Pakistan soon to launch RTGS system
The president of telecoms company PTCL, Muhammad Abdullah Bamakhrama, has said it will soon provide its latest and state-of-the-art Real Time Gross Settlement (RTGS) system to the State Bank of Pakistan.
Financial integration helps avert shocks - Trichet
European Central Bank president Jean-Claude Trichet said Monday 13 November closer financial integration will raise the eurozone's resistance to external shocks and increase its growth potential.
Malaysia, Hong Kong launch payment link
Bank Negara Malaysia (BNM) and the Hong Kong Monetary Authority launched a new cross-border payment-vs-payment link between Hong Kong's US dollar real time gross settlement (RTGS) system and Malaysia's ringgit RTGS system, the BNM said Monday 13 November.
Meister on the EU Banking Stability Report
In a speech given on 7 November Edgar Meister of the Banking Supervision Committee said as analysts of banking sector stability, we have to take into account that the links between large EU banks and hedge funds are intensifying.
Central Bank of Ireland Financial Stability Report
According to the Central Bank of Ireland's Financial Stability Report for 2006, risks in the Irish financial system, including rising debt levels, have increased since last year but the industry is robust enough to cope with shocks.
RBNZ's Bollard on financial stability issues
In the speech 'Kiwis like buying houses more than buying businesses' given on 9 November Alan Bollard of the RBNZ said New Zealanders' low investment in local businesses leaves the economy more vulnerable to shocks and constrains the country's growth…
SARB Financial Stability Review, September 2006
The South African Reserve Bank published the September 2006 edition of its Financial Stability Review on 10 November. In its latest report the SARB said the volatility of South Africa's rand could be negative for long-term growth, but for now the…