Reserves
Romanian national bank reserves exceed $7.5bn
The international reserves of the National Bank of Romania (BNR) exceeded 7.5bn dollars (6.9bn euro) as of 31 January 2003, of which gold stood at 1.25bn dollars.
Gold price soars on war talk concerns
Worries that US Secretary of State Colin Powell's speech on Iraq could be a harbinger of war sent gold soaring to a six-and-a-half year high on Wednesday as investors piled into the traditional safe haven in times of trouble.
Russian gold, forex reserves could hit $55 bln
The Central Bank of Russia's gold and foreign-exchange reserves could total approximately $55 billion at the end of 2003 so says a deputy governor of the Bank.
Russia posts small rise in gold reserves
Russia's gold and currency reserves have grown 100m dollars, from 48.1bn to 48.2bn dollars, in the period from 17 January to 24 January, a news agency said information from the Central Bank of Russia.
Colombia, Venezuela c banks to discuss for ex
The central bank chiefs from Colombia and Venezuela will soon meet in the Colombian city of Cartagena to discuss concerns that planned Venezuelan currency controls could disrupt debt payments, Colombia's government said on Wednesday.
IMF Press Release
PRESS RELEASE - IMF Approves Transitional Stand-By Credit Support for Argentina, 24 January.
Russian central bank may increase euro reserves
The Russian central bank, which has foreign currency reserves largely denominated in dollars, may increase its holdings of euros, deputy chairman Oleg Vyugin was quoted as saying.
Kazakh national bank to up gold purchases in 2003
The Kazakhstan National Bank plans to increase gold purchases on the domestic market in 2003. The Bank's net gold and foreign currency reserves totalled 2.981bn dollars in December 2002.
Argentina confirms default of World Bank debt
Debt-ridden Argentina confirmed it has defaulted on its US$726 million payment due to the World Bank. The default was prompted by fears that payment could reduce central bank reserves to zero over the next few months.
China seeks outside help to develop debt markets
China has contacted the World Bank and Asian Development Bank to gauge their attitude toward helping develop fledgling Chinese debt markets by launching the first renminbi-denominated bonds to be issued by a foreign institution.
China needs to free up gold mkt - Gold Council
China needs to free up its gold market further to give locals an alternative form of investment, the World Gold Council has said. Recently CentralBankNet reported how the WGC had welcomed the successful launch of trading in physical gold on the new…
Central Bank of Sri Lanka signs RTGS deal
Logica announced Wednesday that it has signed a deal worth US$9 million to implement the Real Time Gross Settlement (RTGS) System and the Scripless Securities Settlement (SSS) System for the Central Bank of Sri Lanka (CBSL).
Argentine government eases banking freeze
President Eduardo Duhalde eased a 1-year-old partial banking freeze on Monday, allowing Argentines unfettered access to their checking and savings accounts.
BOJ to start releasing data on stock buying policy
The Bank of Japan said on Tuesday it will begin periodically releasing data on its purchases of shares from banks, a move that could indicate the effectiveness of its efforts to stabilise the financial system. The Bank began its unprecedented policy on…
Bundesbank may sell some of its gold
The Bundesbank may sell some of its US$35 billion of gold to buy more profitable assets, executive board member Hans-Helmut Kotz said. In April we reported that Bundesbank President Ernst Welteke said that the international agreement limiting gold sales…
Reserve Management in an Era of Low Returns
RESEARCH - Although central banks have traditionally conducted their reserves management in a conservative and risk-averse way, the very low interest rates we see now have caused central banks, like other fixed income investors, to search for higher…
Greenspan on Int'l Financial Risk Management
SPEECH - In the speech 'International Financial Risk Management' Alan Greenspan of the Federal Reserve said episodes such as September 11 indicate that the ability of economies to absorb unexpected shocks has increased over the past two decades. He also…
Argentina defaults on World Bank loan
ARGENTINA - The Argentine government on Thursday took the extraordinary step of defaulting on a loan repayment to the World Bank, in a sign of its intense frustration over negotiations with the bank's sister institution, the International Monetary Fund.
Indian banks cautioned on risks in e-banking
INDIA - The Reserve Bank of India has cautioned Indian banks about the inherent risk factors that accompany the introduction of high-tech electronic delivery system in the banking sector.
European Central Bank Working Paper No 194
RESEARCH - ECB Working Paper, "Sensitivity analysis of volatility: a new tool for risk management" by Simone Manganelli, Vladimiro Ceci and Walter Vecchiato, November 2002.
New mandates for management of equity portfolios
PRESS RELEASE - Norges Bank Investment Management is today announcing new external active mandates for the Government Petroleum Fund. The new mandates are within the consumer staples, consumer cyclicals, media and services sectors, 12 November.
Total of bad loans understated by Y13,000bn - FSA
JAPAN - Japan's Financial Services Agency has revealed for the first time that it believes bad loans at the country's banks are Y13,000bn (£68bn) greater than the banks say.
Argentina and IMF at odds over payment
ARGENTINA - Argentina and the International Monetary Fund remain some distance apart in negotiations over an agreement that would make it easier to make a $805m debt payment due to the World Bank next week.
International Monetary Fund Working Paper
RESEARCH - International Monetary Fund Working Paper 'Transparency and International Investor Behavior' by R Gaston Gelos and Shang-Jin Wei. The paper looks at whether country "transparency" affect international portfolio investment and finds that…