Reserves
Venezuela's president signs central bank reforms
Venezuelan President Hugo Chavez has signed a partial reform to the Central Bank Law to authorise investing six billion US dollars of hard currency reserves in social programs.
Venezuela passes foreign reserves reform bill
Venezuela's Congress on Tuesday 19 July approved a reform bill giving the government access to $6 billion of the nation's international reserves.
RBNZ's new bond lending facility
The Reserve Bank of New Zealand announced on Thursday 14 July that, as from 18 July 2005, it will operate a bond lending facility.
BoE paper: Bank loans versus bond finance
This Bank of England Working Paper published on 11 July develops a model to analyse the optimal choice between bank loans and bond finance for a sovereign debtor.
RBI's Reddy on challenges in a globalising economy
In a speech on 'Overcoming challenges in a globalising economy : Managing India's external sector' given on 23 June Y.V. Reddy of the Reserve Bank of India said the bank is unlikely to yield to pressures for significantly accelerating the pace of…
Russia ranked world's fifth in reserves
Russia ranks the world's fifth in terms of its international reserve assets (for gold and foreign exchange reserves), Prime Tass economic news agency reported on Friday 1 July.
Korea launches reserve management agency
South Korea launched an independent agency Friday 1 July which will manage part of its foreign exchange reserves, seeking to boost investment returns.
Redrado says Argentina needs to reach IMF deal
Argentina's central bank governor Martin Redrado said on Sunday 26 June that it is important for the country to reach a loan accord with the International Monetary Fund to repay debt.
Fed's Olson on regulatory relief
In testimony on 'Regulatory relief' given on 21 June, Mark Olson of the Federal Reserve said that Congress should give the Federal Reserve more flexibility in setting reserve requirements and allow it to pay interest on balances held by depository…
Venezuela approves central bank reform law
Venezuelan lawmakers gave initial approval late Tuesday 21 June to a bill that would allow President Hugo Chavez to access up to $5 billion in reserves held by the central bank.
BOT denies spending $3-4bn on intervention
Bank of Thailand governor M.R. Pridiyathorn Devakula has conceded the central bank had intervened in the market to support the baht, but denied it had spent up to US$3-4 billion on intervention.
Central bankers meet to discuss growing deficits
On 20-21 June, Central Banking Publications hosted its first conference on Sovereign Asset and Debt Management, which brought together speakers and delegates from central banks, ministries of finance, debt offices and financial institutions.
Russia likely to float rouble within three years
The Russian central bank and the finance ministry have signalled that the government will allow the rouble to float freely within the next three years, the Interfax news agency reported.
Venezuela presents central bank reform proposals
Venezuela's government has submitted a legislative proposal that would allow President Hugo Chavez to tap reserves held by the central bank.
Korea postpones currency swap decision
The Bank of Korea (BOK) postponed a decision Wednesday 15 June on a proposal to lend some of its foreign exchange reserves to domestic banks through currency swaps, the central bank said.
Russia 'won't react to rumours' over euro
A senior Russian central bank official said on Monday 6 June that reports Italy and Germany could drop the euro were "just rumours," and said Russia has no intention of changing its reserves structure.
SARB has no reserve target - Plenderleith
The South African Reserve Bank plans to keep gradually building its foreign exchange reserves, Deputy Governor Ian Plenderleith said in an interview.
Euroclear appoints John Trundle MD
Euroclear SA/NV announced on Thursday 19 May that John Trundle will become Managing Director and head of Risk Management for the Euroclear group, effective 6 June.
IBM transforms Bank of Korea's forex system
A major software giant has said it has completed the transformation of the Bank of Korea's foreign exchange asset management system for foreign exchange reserves.
RBI plans risk management panel
The Reserve Bank of India (RBI) said it is looking at setting up a separate committee to study and strengthen the operational risk management of banks, as part of the overall implementation of the Basel-II norms.
Surprising transparency on Swiss gold sales
This article looks at the recent speech by Philipp Hildebrand on the Swiss National Bank's gold sales. The speech represented "amazing after-the-event transparency" it says.
Central banks become net dollar sellers
The world's central banks have become net sellers of US dollar-denominated assets for the first time in more than two years.
Venezuela's Chavez considers vote on reserves use
Venezuela's President Hugo Chavez said on Saturday 14 May he may decide to call a referendum on whether the country should be able to use part of its international exchange reserves for projects to help the poor.
EMEAP announces ABF2 moves to implementation phase
The eleven central banks and monetary authorities from East Asia and the Pacific which make up the EMEAP Group announced on Thursday 12 May that the Asian Bond Fund 2 (ABF2) has moved into its implementation phase.