Central Banks
BOK unlikely to make up for gov't losses
SOUTH KOREA - The Bank of Korea (BOK) expressed reservation yesterday about taking actions to make up for losses incurred by irretrievable public funds that were used to stabilize the economy in the wake of the 1997 IMF financial crisis.
Man admits Ukraine National Bank governors murder
UKRAINE - A court in Luhansk has heard details of the contract killing of the former head of the National Bank of Ukraine, Vadym Hetman.
Records show Moskow donated money to Bush fund
US - Federal Reserve Bank of Chicago President Michael Moskow donated $2,000, the maximum allowable, to President George W. Bush's election campaign, according to Federal Election Committee records.
How economics came to rival religious faith
ARTICLE - Is economics a religion? This question is posed by Samuel Brittan in the Financial Times on Thursday.
Arafat names Palestinian MA officials
PALESTINE - President Yasir Arafat has decreed the appointment of Dr Amin Muhammad Haddad as governor of the Palestinian Monetary Authority.
Speech by Shigemitsu Sugisaki of the IMF, 24 July
SPEECH - In a speech titled 'The U.S. and Japan in the Global Economic System' Sugisaki said "Japan's decade-long economic slump owes much to the delays in implementing structural reform, particularly bank and corporate debt restructuring". He added …
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1 3/4 percent, 13 August.
Bank of Canada Review, Summer 2002
REPORT - The Bank of Canada Review is a quarterly publication that contains four economic commentary and feature articles. The Bank issued its Summer 2002 Review on 13 August.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting, 31 July and 1 August 2002. The minutes showed members of the Bank of England unanimously voted to leave interest rates on hold at the 31 July-1 August meeting. The members…
Spanish cen bank launches early retirement scheme
SPAIN - Banco de Espana, Spain's central bank, is to offer an early retirement scheme to employees of 50 years of age or older who work at the 30 branches across Spain to be closed down.
Russian PM says central bank to continue float
RUSSIA - The central bank and the government of Russia will ensure the stability of the rouble rate in 2003, but the rouble rate should correspond with economic development, Prime Minister Mikhail Kasyanov said at a government session on Wednesday.
Uruguay's central bank to begin deposit return
URUGUAY - Uruguay's government will begin returning deposits on Wednesday to clients of suspended banks Banco Montevideo, Caja Obrera, Comercial and de Credito, the central bank said in a statement.
Iraq's central bank governor details new bank note
ARTICLE - Iraq's central bank Governor Dr Isam Rashid Huwaysh has explained the bank's decision to issue a 10,000-dinar banknote, in an interview with the Al-Rafidayn web site.
Reserve Bank of New Zealand News Release
NEWS RELEASE - Reserve Bank pauses, OCR held at 5.75 per cent, 14 August.
Profiles of Bank of Japan Policy Board members
ARTICLE - The Bank of Japan's Policy Board discussed side effects of its huge fund injection to the money market at its 26 June meeting but concluded that the struggling economy needed the easy monetary policy, minutes showed on Wednesday.
'Cloud' prompts N.Z. to leave rates on hold
NEW ZEALAND - New Zealand left its official cash rate unchanged at 5.75 percent Wednesday, citing the global economy's "increasingly clouded" prospects.
US bank gives away money at ATM
US - Road construction is such a pain at one of Nebraska's busiest intersections that a bank is giving away money for nothing as a special surprise to some customers.
MPC voted unanimously to hold UK rates
UK - The Bank of England's Monetary Policy Committee discussed the case for a cut in interest rates at its August meeting, according to the minutes of its meeting published on Wednesday.
Rates held steady by Fed but easing hints given
US - The Federal Reserve on Tuesday left its key short-term interest rate unchanged but signalled concern about turbulent financial markets and hinted at a possible future easing of monetary policy.
IMF Working Paper Series
RESEARCH - Internal Models-Based Capital Regulation and Bank Risk-Taking Incentives by Paul H Kupiec, Monetary and Exchange Affairs Department, IMF, July 2002.
Economic and Financial Policy Review, Vol 1, No 2
PUBLICATION - 'Banks Venture into New Territory' by Kenneth J. Robinson, Senior Economist and Policy Advisor, Federal Reserve Bank of Dallas, Volume 1, Number 2, 2002.
Bank of Japan Monthly Report, August 2002
REPORT - The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, August 2002, on 13 August. In its report the Bank of Japan said the outlook for exports had become more uncertain due to unstable global stock markets…
MAS Press Release
PRESS RELEASE - MAS Seeks Public Comment on Guidelines for Retail Hedge Funds, 13 August.
Brazil's central bank to aid troubled companies
BRAZIL - Brazil's central bank chief on Monday pledged to lend money to embattled Brazilian companies as concern grew about the success of the International Monetary Fund's $30bn (£19bn) loan package.