Central Banks
Customer due diligence for banks
REPORT - Customer due diligence: a new level of commitment among bank supervisors. Basel Committee Publications, 19 September 2002.
12th Int'l Conference of Banking Supervisors
PRESS RELEASE - Representatives of about 150 banking supervisory authorities from nearly 120 countries met in Cape Town on 18 and 19 September 2002. They were participating in the 12th International Conference of Banking Supervisors (ICBS) held at the…
Mexico central bank set to shore up currency
MEXICO - The Mexican central bank is expected to tighten monetary policy on Monday to shore up support for the peso, which fell 3.5 per cent last week.
Croatian, Indonesian central banks sign agreement
CROATIA - The HINA news agency in Zagreb reported on Monday that an agreement on understanding and cooperation between the Croatian and Indonesian central banks was signed at the Croatian National Bank on Monday during the visit of a delegation of Bank…
Hungary: Central bank rejects PM's plea on rates
HUNGARY - Zsigmond Jarai has said that the current rate of interest is appropriate.
BoE's George says euro could help UK manufacturing
UK - Bank of England governor Sir Edward George said in Birmingham, England on Friday that the British manufacturing industry could benefit if the government opted to join the single European currency.
Central Bank of Costa Rica installs .NET
COSTA RICA - The Central Bank of Costa Rica has migrated its interbank electronic payments and transaction system (SINPE) to Microsoft Corp.'s .NET technologies.
Turkmenistan central bank chief sacked
TURKMENISTAN - Turkmenistan's President Saparmyrat Nyyazow on Friday dismissed the chairman of the central bank "for abuse of office and in connection with criminal proceedings against him".
Iranian c bank head denies excessive bank debts
IRAN - Governor of the Central Bank of Iran (CBI) Mohsen Nurbakhsh has said that the CBI's liabilities do not exceed 21bn dollars.
Bank research casts doubt on MPs' scrutiny
UK - Bank of England staff have investigated whether parliamentary scrutiny is as onerous in other countries after being wounded by the ferocity of parliamentary confirmation hearings for those nominated to the monetary policy committee.
Article on Christopher Allsopp's speech
ARTICLE - The article 'Why deflation may yet destabilise the monetary policy regime' by Stephen King in the Independent newspaper on Monday looks at a recent speech by Bank of England MPC member Christopher Allsopp.
Speech by Svein Gjedrem of Norges Bank, 6 Sep
SPEECH - In the speech titled 'The role of the Central Bank' Gjedrem said that the Norwegian economic system has undergone substantial changes over the past ten to twenty years. The model based on detailed control of capital, credit and interest rates…
Speech by Tito Mboweni, RB of South Africa, 18 Sep
SPEECH - In the speech Mboweni said South Africa is regarded as having a dual economy. On the one hand it is an emerging market with its fair share of challenges regarding economic growth, wealth distribution, and inflation. In particular, we face the…
South African Reserve Bank Quarterly Bulletin
REPORT - The South African Reserve Bank has published its Quarterly Bulletin for September 2002. In the Bulletin the SARB report that deteriorating financial market conditions could dampen the global recovery. Falling stock market prices, through various…
Speech by C Allsopp, Bank of England, 19 Sep
SPEECH - In the speech titled 'Macroeconomic Policy Rules in Theory and in Practice' Allsopp argued against using interest rates to burst asset price bubbles. "In my view, the most persuasive argument against using interest rates to moderate…
Reserve Bank of New Zealand Press Release
PRESS RELEASE - Monetary Policy Challenge winner announced, 18 September.
Inflation target regime debated in South Africa
SOUTH AFRICA - Economists briefing Parliament's finance committee endorsed the country's inflation targeting regime on Friday, but offered conflicting advice on how to improve it.
Japanese yields climb as bond auction fails
JAPAN - Japanese bonds headed for their biggest losing week in 3 years as a sale of 10-year government benchmark securities failed for the first time to attract sufficient bidders for the debt on offer.
MasterCard follows Visa in RBA court challenge
AUSTRALIA - Like Visa, MasterCard revealed on Friday that it will appeal the Reserve Bank of Australia's proposed changes to the credit card system.
Scotland to be first to print its own euros?
UK - The Bank of Scotland chiefs are fronting a campaign, which aims to allow Scotland to become the first region in the European Union to print its own euros, if the pound is scrapped.
Greenspan to get honorary knighthood on Thursday
US - Federal Reserve chairman Alan Greenspan will receive an honorary knighthood from Queen Elizabeth II next week, Buckingham Palace has said.
ECB's Quaden says Europe's economy struggling
BELGIUM - European Central Bank council member Guy Quaden said the economy is struggling to expand and higher oil prices may curb spending by companies and consumers.
Speech by Governor, State Bank of Pakistan, 1 Jul
SPEECH - In the speech titled 'Pakistan and the IMF : 1988-2002' Husain said the image of the IMF in developing countries and in Pakistan remains tarnished because of the burden of historical legacy, the increasing debate about the efficacy of the IMF…
Speech by Jarle Bergo of Norges Bank, 5 Sep
SPEECH - Bergo said in the speech titled 'Monetary policy, cyclical fluctuations and competitiveness' that through a sound, credible orientation of monetary policy, it is possible to attain an inflation rate that on average is equal to the targeted…