News
FSA acts to tighten assurers' solvency reports
UK - The Financial Services Authority plans to tighten rules that were used by Equitable Life, the troubled mutual life assurer, to bolster its reported financial strength.
US economists to free up Argentine bank system
ARGENTINA - Adam Lerrick and Allan Meltzer, two prominent US economists, have proposed a new scheme to allow Argentines to use the money locked up in the banking system without triggering a collapse of the banks - arguably the single largest problem…
How to find a president for the ECB
FRANCE - A short question and answer session about the European Central Bank presidency published in the London edition of the Financial Times, 24 January.
French firm sues over euro notes
FRANCE - Have euro notes design breached copyright? A French company claims a map of Europe printed on every euro bank note breaches a copyright it owns on the design. The ECB does not agree.
Greenspan: US economy is picking up
US - The US economy seems finally to be climbing out of recession, Federal Reserve chairman Alan Greenspan said.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England Monetary Policy Committee Meeting held on 9 and 10 January 2002. Release date 23 January 2002.
Bank chiefs unanimous on rate freeze
UK - Bank of England gurus in charge of setting interest rates voted unanimously in favour of a rate freeze this month.
Singapore's MAS to issue currency notes, coins
SINGAPORE - The Monetary Authority of Singapore (MAS) will expand its responsibilities to include the issuance of currency notes and coins from March next year, officials said Wednesday.
RBA appoints new assistant governor economic
AUSTRALIA - The Reserve Bank today announced the appointment of Dr Malcolm Edey as assistant governor (economic).
Duisenberg - No need to change ECB team yet
ITALY - European Central Bank Governor Wim Duisenberg said in remarks published on Wednesday it was unlikely he would complete his full term as the head of the bank but said the management team should not be changed yet.
Allsopp - ECB should have stable growth aim
UK - Maintaining a stable rate of economic growth should be given a clearer role in the policy framework of the European Central Bank, a senior Bank of England official said on Wednesday.
IMF Press Release
PRESS RELEASE - IMF, World Bank Conclude Joint Poverty Reduction Strategy Conference, 18 January.
Reform of EU securities rules moves a step closer
EUROPE - The European parliament yesterday took a decisive step towards acceptance of the Lamfalussy plan for speeding the reform of European Union securities market regulation.
Afghan banker picks up pieces of a ruined system
FEATURE - Abdul Qadir Fitrat, possibly the world's youngest central bank governor at 38, has just taken up perhaps the world's most hair-raising central bank challenge - restoring Afghanistan's ruined financial system.
Fed's Moskow says sees no U.S. deflation threat
US - Chicago Federal Reserve President Michael Moskow said on Friday that he did not see a near-term threat to the U.S. economy from deflation, although prices for some goods have been declining.
Bank of England official: 'Leave pound alone'
UK - A senior Bank of England official has warned against artificially reducing the value of the pound.
US comments push down on yen
US - Mixed messages from the US administration have helped Japan's currency touch new lows.
Basel Committee on Banking Supervision
PRESS RELEASE - New Basel Committee paper explores roles of auditors and bank supervisors, 21 January 2002.
Slovak FinMin Schmognerova sacked by her SDL party
SLOVAKIA - The Slovak ruling coalition SDL party said on Monday it would replace a key government reformist, Finance Minister Brigita Schmognerova, with a little-known central bank economist, Frantisek Hajnovic.
Argentina rush to contain rage over bank deposits
ARGENTINA - Argentina's new government rushed on Monday to soothe public rage over its decision to drastically reduce the dollar value of bank deposits, saying it was studying measures to ease the pain.
CBR hopes to prevent central bank law amendments
RUSSIA - The Central Bank of Russia will make every effort to prevent amendments to the law on the Central Bank, approved by State Duma profile committees, from being passed by the Duma in a second reading.
Gerashchenko may stay in office for another term
RUSSIA - Viktor Gerashchenko is ready to head the Central Bank of Russia for another term in office. He announced this position talking with reporters.
Argentina to ban purchase of dollars with cheques
ARGENTINA - Central Bank Director Aldo Pignanelli said that the bank will not be allowed from tomorrow to accept payment by cheque for the dollars they sell.
Greenspan O'Neill to testify on financial literacy
US - Federal Reserve Chairman Alan Greenspan, Treasury Secretary Paul O'Neill, and Securities and Exchange Commission Chairman Harvey Pitt will testify in Congress early next month on efforts to promote financial literacy, the Senate Banking Committee…