Reserves
Malaysian gov't presses ahead on use of gold dinar
MALAYSIA - The government will set up a secretariat to study and promote the use of the gold dinar as currency for international trade if the cabinet agrees, Prime Minister Dr Mahathir Mohamad said today.
Afghanistan new notes switch going well
ARTICLE - New currency is circulating in Afghanistan as the process of changing money is carried out by the interim government.
Risk Measurement and Systemic Risk
REPORT - A collection of papers that were either presented or are based on presentations at the Third Joint Central Bank Research Conference on Risk Measurement and Systemic Risk, which took place in Basel on 7 and 8 March 2002 at the Bank for…
ECB takes authority over foreign currency reserves
GERMANY - The European Central Bank (ECB) confirmed Monday, the Irish Times reported, that it must give permission before any euro-zone state can raid its own foreign currency reserves to ease domestic borrowing requirements.
Complexity will not cut banks' risk
LETTER - Letter published in the Financial Times, UK edition, 21 October.
Vietnam postpones inaugural global bond issue
VIETNAM - Communist Vietnam has postponed its first-ever global bond issue until next year at the earliest, a senior central bank official said Monday.
Fed chief hits at intervention on sovereign debt
US - William McDonough, president of the New York Federal Reserve, yesterday broke ranks with other policymakers in the leading industrialised countries, expressing strong reservations about their drive to intervene between bankrupt governments and…
Russian c bank - For ex reserves growth too fast
RUSSIA - Russian Central Bank President Sergey Ignatyev has said that the country's gold and foreign exchange reserves are now close to a level that meets all conceivable criteria. He was speaking at a full-scale meeting of the State Duma (lower house)…
Iran sees large inflow of gold and capital
IRAN - Iran has experienced a net inflow of capital and gold bullion for the first time since the 1979 Islamic revolution. It has been drawn by domestic investment opportunities and driven by financial insecurity outside the country following the…
BIS Press Release
PRESS RELEASE - Asia/Pacific nations declare that quick disposal of non-performing loans is vital for strengthening financial systems, 14 October 2002.
Duisenberg on the integration of financial markets
SPEECH - In a speech titled 'The integration of Europe's financial markets' Duisenberg said that after the successful introduction of the euro progress in financial integration took place with the safe establishment of the unified unsecured money market…
Takenaka calls on BoJ to help fight deflation
JAPAN - Heizo Takenaka, Japan's economy minister and the new head of the Financial Services Agency, on Wednesday called on the Bank of Japan to co-operate with the government on tackling deflation.
Speech by Susan Schmidt Bies of the Fed, 8 Oct
SPEECH - In the speech titled 'Corporate Governance and Risk Management' Bies said firms of all sizes should continue to pursue strategies to manage risk. Following sound risk management, governance, and disclosure practices consistently is also crucial…
Balkans pact on division of gold
YUGOSLAVIA - Yugoslavia and four former Yugoslav republics have agreed to divide $87m (£55m) worth of gold left over from the Yugoslav federation, a Bosnian government spokesman said yesterday.
Brazil c bank imposes stricter equity requirements
BRAZIL - Brazil's central bank has raised the equity requirement for banks holding US dollars, in a bid to halt the local currency's slide against the dollar, Brazilian central bank regulations director Sergio Darcy was quoted as saying by local press.
Russia's for ex reserves up again in September
RUSSIA - Russia's international reserves grew 1.292bn dollars, or 2.9 per cent in September, to 45.619bn dollars from 44.327bn dollars.
BSP urged to monitor forex trading activities
PHILIPPINES - The peso continued to succumb to the dollar-buying pressure yesterday as it closed 3 centavos weaker to a fresh 14-month low of 52.68 to $1, prompting Finance Secretary Jose Isidro Camacho to ask the Bangko Sentral ng Pilipinas, the central…
Bank of Korea says FX reserves reach $116.69bn
KOREA - The Bank of Korea (BOK) announced yesterday that Korea's foreign exchange reserves stood at $ 116.69 billion as of the end of September 2002, increasing by $ 150 million from the end of August.
Ukraine sets up for ex and stock market watchdog
UKRAINE - The Ukrainian government has decided to create a special commission to monitor and control the activities of Ukraine's exchanges, the government's press service reported on Wednesday. The press service was referring to a government ruling.
Advocate of hard-landing may join Japan debt team
JAPAN - Japan's best-known advocate of a "hard-landing" solution to the banking crisis is likely to be named this week a member of the taskforce charged with drawing up proposals to tackle the financial system's mountain of bad debts.
India's for ex reserves up $500m
INDIA - The country's forex reserves have surged by $500 million to touch $62.521 billion for the week ended September 20, 2002, as compared to $ 62.021 billion in the previous week, figures released by the Reserve Bank of India show.
Israel's for ex reserve drop for 3rd month running
ISRAEL - Israel's foreign currency reserves dropped in September for the third month running, the Bank of Israel said today.
Thai cen bank - Banks must improve risk management
THAILAND - The Bank of Thailand has revised its regulations related to the way financial institutions review lending, loan obligations and related reporting.
Speech by Fed Chairman Alan Greenspan, 25 Sep
SPEECH - In the speech titled 'World Finance and Risk Management' Greenspan said a proper dispersement of risk will allow shocks to the overall economic system to be better absorbed and less likely to create cascading failures that could threaten…