News
RBA is losing minds in credit card battle
FEATURE - The Reserve Bank is digging itself into a hole in its new role as a consumer advocate and risks damaging its relations with the banks over its efforts to "reform" Australia's credit-card system.
Syria to set up monetary and credit council
SYRIA - President Bashar al-Asad has issued Law No. 23 of 2002 providing for the establishment of a Monetary and Credit Council [MCC]. The law stipulates that this council shall be in charge of organizing the monetary and credit institutions in Syria and…
Greek has "good chance" of landing ECB job
SPAIN - Greece's candidate for the vice presidency of the European Central Bank appears to be gaining support, although European Union finance ministers still have about a month to make a final pick.
SPB to stimulate debit card use in Brazil
BRAZIL - Brazil's inter-bank settlement program (SPB) is expected to cause a rise in debit card use and a corresponding decrease in check use due to high pre-funding fees, Bradesco technology director Osmar Roncolato Pinho told participants of a…
S Africa cenbank says property rights protected
SOUTH AFRICA - South African central bank Governor Tito Mboweni on Friday urged global investors to distinguish between his country and Zimbabwe, which is grappling with a worsening political and economic crisis.
'No change' to rouble exchange policy
RUSSIA - The new chairman-designate of Russia's central bank yesterday moved swiftly to reassure the financial markets that there would be no change to rouble exchange rate policy, while hinting at greater transparency in the management of his…
Argentine c bank bars 21 institutions from forex
ARGENTINA - Argentina's Central Bank on Monday suspended 21 financial institutions from foreign exchange trading after they failed to meet new capital regulations aimed at propping up a weakening peso currency.
Pakistan sees cash inflow
PAKISTAN - Pakistan's struggling economy enjoyed a significant surge of foreign currency late last year as expatriate workers sent money home from abroad.
Reserve Bank of Australia Media Release
MEDIA RELEASE - Reform of credit card schemes in Australia, 18 March.
IMF News Brief
NEWS BRIEF - Press Statement by the IMF Mission to Argentina, 15 March.
Controversy over Transnistrian "central bank"
FEATURE - The National Bank of Moldova denies the legitimacy of the "central bank" of the self-proclaimed "Trans-Dniester Republic". But in the breakaway republic, not recognised by any other country in the world, the Trans-Dniester Republican Bank…
Cash transfers to be possible by Visa card
UK - European consumers will be able to transfer money directly between each other's Visa credit and debit cards by the autumn under plans by the card-processing network.
Buba's Welteke says 2002 hard for German banks
GERMANY - Bundesbank President Ernst Welteke said on Friday 2002 would be a difficult year for German banks and urged the sector to take measures to counter falling results and weak international competitive power.
Russian central bank chief quits on health grounds
RUSSIA - Viktor Gershchenko, chairman of the Russian central bank, resigned on Friday six months before his term was due to expire in September. He abruptly sent a letter of resignation to the president, Vladimir Putin, citing reasons of ill health.
Sudan's c bank tightens banking sector control
SUDAN - According to Al-Quds Al-Arabi newspaper (11 March), the Sudanese Central Bank intends to tighten control and supervision over the local banking sector.
ECB Duisenberg says europe needs structural reform
SPAIN - Wim Duisenberg, chairman of the European Central Bank, said Europe needs to speed up structural economic reforms to stimulate growth.
Two candidates compete for ctrl bank head post
SOUTH KOREA - Public fund management committee Chairman Park Seung and Korea Federation of Banks chief Ryoo Shee-yul are the two most likely candidates to be the next central bank governor, the Munhwa Ilbo reports.
US Nobel laureate praises China's monetary policy
CHINA - Nobel Laureate Robert Mundell has praised China's monetary policy as "excellent" in a recent interview.
Korea to export currency for world cup period
SOUTH KOREA - The Bank of Korea (BOK) today said that domestic lenders will export 50 billion won (US$37.82 million) worth of the country's money abroad to facilitate currency exchange for foreigners who will visit Korea during the FIFA World Cup period.
Israeli cabinet OKs diluting cen bank chief power
ISRAEL - Israel's cabinet on Sunday approved sweeping changes to the way interest rates are set but analysts said the plans, which include setting up a monetary council, would weaken the central bank and harm the economy.
The IMF-Feeding the rat
ARTICLE - An Article by Diwa C. Guinigundo, Alternate Executive Director, International Monetary Fund, Manila Standard, 28 February.
Interagency Guidance on Country Risk Management
LETTER - The Federal Reserve, along with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, have issued enhanced guidance concerning the elements of an effective country risk management process for banking…
Call for contributions from the ECB
PUBLICATION - Call for contributions from interested parties: Joint work of the European System of Central Banks and the Committee of European Securities Regulators in the field of clearing and settlement, 15 March.
Russian c bank raises gold purchase price by 5%
RUSSIA - The Central Bank of Russia has established a new procedure for calculating buy and sell quotes for refined gold, silver and platinum in bars for operations with credit institutions.