Reserves
Venezuela c bank seeks easing of forex controls
The central bank of Venezuela has appealed for a relaxation of the foreign exchange control regime currently in place, according to a report in the Financial Times. Domingo Maza Zavala, a central bank director, said the bank has called on the finance…
Controversy surrounds Venezuela's forex controls
Venezuela's finance minister Tobias Nobrega has announced that he will shortly be revealing to the Venezuelan public the changes to be made in the foreign exchange system, says VHeadline. However central bank board member Domingo Maza Zavala claimed the…
Moldova's central bank diversifies forex reserves
The central bank of Moldova has diversified its foreign exchange reserve portfolio to guard against exchange rate risk, according to the ITAR-TASS news agency.
Joint note from the BCBS, IAIS and IOSCO
The Joint Forum Risk Management Practices and Regulatory Capital Cross-Sectoral Comparison, June 2003. The joint note provides a record of the initiatives taken by each sector to combat money laundering and the financing of terrorism.
Venezuela's exchange control system may be relaxed
Restrictions on Venezuela's foreign exchange market may be lifted by the country's foreign exchange regulatory body, CADIVI, in the near future. The president of CADIVI said studies of proposals for relaxation were almost complete, according to a report…
Polish fin min demands Bank reserves later resigns
Poland's finance minister Grzegorz Kolodko on Wednesday called for an additional 5bn zlotys from the revaluation reserve of the central bank to go to the 2004 budget, a move the central bank governor firmly rejected. However, Kolodko later resigned after…
Japan's central bank to buy securities
The Bank of Japan has decided to buy asset-backed securities, according to a Reuters report. Before this it had restricted its purchases to government bonds, which carry less risk than securities. The bank said the scheme could start as early as next…
Forex reserves to record highs in India, Pakistan
Forex reserves in India and Pakistan have reached record highs this week, Business Line, India, reports.
Lebanon cb to increase forex reserves
Lebanese central bank governor Riad Salameh intends to increase foreign exchange reserves, currently at $10.2 billion, to absorb excess liquidity owing to the government's failure to launch any Treasury bills this year, according to a report in The Daily…
RBNZ invests in Asian Bond Fund
The Reserve Bank of New Zealand today announced that it would be investing USD 25 million in the newly created EMEAP Bank of International Settlements Asian Bond Fund, 3 June.
EMEAP announcement on Asian Bond Fund
Joint announcement from the 11 EMEAP Central Banks on the launch of the Asian Bond Fund, 2 June.
Bank of Japan subscription to the Asian Bond Fund
The Bank of Japan has decided to subscribe to the Asian Bond Fund offered by the Bank for International Settlements (BIS), 2 June.
BIS announce launch of the Asian Bond Fund
The Bank for International Settlements (BIS) announced the launch of the Asian Bond Fund (ABF) on 2 June. Speaking at the launch BIS General Manager Malcolm Knight described the ABF as a significant step in fostering regional cooperation in Asia.
Putin speaks of Russia's 'considerable' reserves
Asked at a news conference whether he preferred the dollar or the euro Russian President Vladimir Putin said his favourite was "the rouble", according to the Interfax news agency. He also spoke of the considerable increase in reserves held by the central…
Japan conducts record FX intervention
May saw the Bank of Japan's largest ever monthly intervention in the foreign exchange markets using Y3,900bn to halt the Yen's rise, the Financial Times reported.
Russian gold reserves reach new record high
Gold reserves in Russia reached a new record high this week at 59.9bn dollars, according to a report by the Interfax news agency..
Gold bars worth $500m seized at Syrian border
A haul of 2000 gold bars was found during the routine inspection of a truck near the Syrian border, according to Reuters. The gold was estimated to be worth about $500 million and may have come from the Iraq central bank's reserves.
NBP won't release its reserves for budget
The National Bank of Poland's governor said the bank will not yield to the request of finance minister Grzegorz Kolodko, who had called on the NBP to release part of its foreign currency reserve and transfer the money to the state budget, according to…
Zimbabwe's central bank raises gold sale price
Zimbabwe's central bank has raised the price paid to small scale gold producers by 114 percent following the abolition of the gold floor price support scheme, the Financial Gazette reports.
China to open gold trade to individuals
The Shanghai Gold Exchange, China's only gold exchange, may expand to allow individual investors to buy or sell gold later this year, reports the China Daily.
Bank of Japan makes legal reserves application
The Bank of Japan applied to the Minister of Finance on 15 May to retain an extra ten-hundredths of its net income, as the legal reserve for Fiscal 2002.
BoJ asks for gov't approval to boost its capital
The Bank of Japan said in a statement on Thursday 15 May that it is seeking government approval to increase the amount of money it sets aside to boost its capital, according to Bloomberg News.
Lebanon c bank finds new stash of Iraqi cash
The US Treasury has said that US$495 million of Iraqi funds has been recovered by the central bank of Lebanon, reports Associated Press. The U.S. has stressed that all recovered assets will be used to help the people of Iraq and rebuild the country.
US forces recover $800m of 'stolen' Iraqi cash
The US state department said Tuesday that about $800m that was stolen from the central bank of Iraq has been recovered.