Central Banks
RBA's Lowe on payment systems
In the speech 'Innovation and governance of payment systems' given on 16 September Philip Lowe of the Reserve Bank of Australia said technological innovation and greater industry co-ordination in Australia's payments systems are required if it is to…
BOJ's Iwata repeats inflation target call
Bank of Japan deputy governor Kazumasa Iwata said Thursday 15 September that the central bank should adopt a specific inflation target to boost transparency in monetary policy and fend off excessive market speculation after its quantitative easing…
Vietnam to maintain compulsory reserves ratio
Vietnam's central bank said on Thursday 15 September it will not raise the compulsory reserve ratio banks must keep aside.
Argentina mulls increasing gold reserves
Argentina's central bank may increase its gold reserves as a hedge against inflation and to protect it against financial crises, according to Juan Ignacio Basco, the bank's head of market operations.
Besieged Fazio gets a supporter at last
European Internal Market Commissioner Charlie McCreevy said Friday 16 September that the Bank of Italy's governor, Antonio Fazio, appears to have acted legally in the ongoing saga that has enveloped the central bank.
Comment: Managing Asian reserves
The accumulation of foreign-exchange reserves by Asian central banks is one of the most talked-about developments in international finance in recent years. Arguably, it is also one of the most misunderstood ones too - its causes and consequences being…
Uniform accounting rules face hurdles in Europe
This article published on Tuesday 13 September says that although the path to uniform and stricter global accounting rules is paved with good intentions, problems have arisen in Europe that could delay the adoption of parts of International Accounting…
IMF Global Financial Stability Report, Sep 2005
The International Monetary Fund published its Global Financial Stability Report for September 2005 on 15 September. The global financial system has strengthened over the past year, according to the report, giving it a substantial cushion against…
Comment: Revisiting the risk landscape
Many central bankers and international financial institutions have as usual started the new season by surveying the changing risk landscape.
BOT soldiers guard the nation's finances
This article published on Monday 12 September looks at the Bank of Thailand's reserve management team. There's no longer concern about over-reacting if speculators come pounding at the barriers again, as they did in 1996-97, it says.
Bank of Uganda signs foreign reserve software deal
The Bank of Uganda has become the third African central bank to adopt a financial technology solution from Trema, the company announced recently.
McCreevy says cross border clearing cost must fall
Charlie McCreevy, the European Union internal market commissioner, said on Tuesday 13 September action will be taken against Europe's financial services industry if it fails to slash the costs of cross- border trading in securities within six months.
Fukuma sees risk from maintaining reserve target
Katsutoshi Fukuma, a member of the Bank of Japan's policy board, said in a speech he now sees rising risks in maintaining the bank's present 30-35 trln yen liquidity reserve target range, and he reiterated his call for a reduction.
Bank of Italy valued at 1bln euro
The total value of the Bank of Italy's shares is about 1 bln euro, said economy undersecretary Maria Teresa Armosino, but she said the shares are not "marketable".
Russia won't increase euro reserves
The Central Bank of Russia is not planning to increase the euro share in the country's gold and currency reserves and bi-currency basket, the first deputy bank chairman said Tuesday 13 September.
Malta holds foreign reserve management workshop
The Central Bank of Malta has hosted a two-day workshop in conjunction with the European Central Bank on the implications of euro area membership for foreign reserve management by national central banks.
Financial Stability Forum holds its 14th meeting
The Financial Stability Forum (FSF), chaired by Roger W. Ferguson, met on 8-9 September in London. Members discussed risks and vulnerabilities in the international financial system.
PBOC to avoid triggering forex volatility
People's Bank of China chief Zhou Xiaochuan has vowed that the bank will not begin any changes in the management of its foreign exchange reserves that could introduce market volatility.
King's cricket connection
Mervyn King spent Thursday 8 September watching England play Australia at the Oval in the last Ashes cricket Test. But the Bank of England governor doesn't just watch the game, he is also involved in a campaign to bring more cricket to state schools in…
Interview with IMF's Rodrigo de Rato
In an interview published this week IMF managing director Rodrigo de Rato warns that high oil prices could halt Korea's economic recovery. He also says sluggish export growth could put a brake on the recovery.
OECD needs reform says Japan's candidate
Japan's candidate to become the next secretary-general of the OECD says the group needs to be more responsive to developing countries to avoid losing its importance as an international organization, the Financial Times reports in its international…
Caruana's potential replacements named
According to a report by Expansion this week, there are four names in the hat to replace Jaime Caruana as governor of the Bank of Spain when he steps down in Summer 2006.
Dookeran may lead Trinidad party
The former governor of the Central Bank of Trinidad and Tobago, Winston Dookeran, may become leader of the main opposition party in Trinidad after the incumbent announced he would not be running for the post again.
Kyrgyzstan's central bank chief under house arrest
The governor of the National Bank of the Kyrgyz Republic, Ulan Sarbanov, has been placed under house arrest, accused of abuse of power during the rule of deposed president Askar Akayev.