News
Bank of England leaves interest rates unchanged
UK - The Bank of England's Monetary Policy Committee (MPC) has left UK interest rates unchanged for the second month in a row. The committee concluded their two day meeting on 5 July. The Bank's base rate remains at 5.25%.
European interest rates held steady
EUROPE - The European Central Bank (ECB) has left eurozone interest rates unchanged for the second month in a row. Their main refinancing rate remains at 4.5%.
Regulator to study Brazil comparative rate system
CHILE - Chilean banking authorities will study the implementation of the Brazilian Central Bank's comparative interest rate system with a view to boosting transparency and competition in the loan market, Chile's chief banking regulator Enrique Marshall…
Liberal rules for S-type accounts in force, Russia
RUSSIA - The Central Bank of Russia has drafted a number of instructions aimed at liberalising rules for S-type accounts, in which foreign investors must keep rubles received from redemption of government bonds that were frozen after the 1998 financial…
China to unify mark on banking cards
CHINA - China's central bank issued a circular Monday demanding that all commercial banks adopt a unified "Yinlian" mark on their banking cards for the purpose of settling in the local currency, Renminbi.
IMF reach compromise over central bank law changes
INDONESIA - Indonesia appears to be making some headway in its efforts to get fresh loans from the International Monetary Fund.
No trial operations approved for banks in China
CHINA - China's central bank said on 2 July it has not approved any trial operations of new private banks and declared such moves illegal, contradicting a media report last week that some trials were well progressed.
Thai's signal looser bank regulation
THAILAND - The FT, London on 5 July reports that Pridiyathorn Devakula, Thailand's new central bank governor, has appeared to signal a shift in attitude towards regulating the country's fragile commercial banks, saying banks should start lending again…
EU assembly repeat call for ECB to publish minutes
EUROPE - The European Parliament approved a resolution on 4 July backing the European Central Bank's 2000 annual report and repeating its call for the publication of ECB minutes, officials said.
China - Gold exchange may be coming
CHINA - China plans to establish a National Gold Exchange (NGE) this year, another step towards reforming its gold trading market.
National Bank of NZ names chief economist
NEW ZEALAND - The Reserve Bank of New Zealand has appointed John McDermott as its new chief economist. He will start his new assignment on 20 August.
Interest rate decisions due
EUROPE - The European Central Bank and the Bank of England will both, separately, make their latest interest rate decisions tomorrow, 5 July. Neither is expected to cut rates further.
Taiwan sets up blue-ribbon economic committee
TAIWAN - Taiwan paved the way on 4 July for a multi-party task force to advise how to boost the island's faltering economy, a presidential aide said.
RBNZ introduces E-mail statement service to public
NEW ZEALAND - The Reserve Bank of New Zealand on 4 July started to deliver its press statements to the general public via e-mail for the first time.
Russian gold and currency reserves grow by $500m
RUSSIA - The PR department of the Central Bank has reported that between 15 June and 22 Russia's gold and currency reserves grew from $33.7 billion to $34.2 billion.
Indonesia expects smooth talks with IMF mission
INDONESIA - Indonesia's chief economics minister said on 4 July he expected smooth talks with an IMF team due to arrive this week on a mission aimed at paving the way for resumption of a $5 billion loan programme.
Former Czech bank head accused of dubious actions
CZECH REPUBLIC - A special parliamentary committee on 3 July savagely attacked the Czech minority government for the way it handled the country's biggest banking crisis last June.
'Jury' returns vote of confidence in central bank
EUROPE - Morgan Stanley Dean Witter, the US investment bank, recently held a conference at which the main attraction was a mock trial of the European Central Bank, as reported in the FT London.
Three regulators criticise new SEC rules
US - Three major U.S. banking regulators issued a scathing criticism on 2 July of the Securities and Exchange Commission's interim final rules on when banks can be exempt from standard dealer and broker requirements.
Deputy head named at Bank of Kuwait
KUWAIT - Mustafa Al-Shimali has been appointed as head of the board of the Bank of Kuwait and the Middle East.
Fed settles with ex-Bankers Trust exec
US - The U.S. Federal Reserve said yesterday, 2 July, it had settled charges brought against a former Bankers Trust executive in connection with accounting violations at the bank during the mid-1990s.
National Bank of Hungary appoints deputy governors
HUNGARY - The National Bank of Hungary, the central bank of Hungary, has appointed Peter Adamecz and Henrik Auth as deputy governors.
Fed approves Citigroup's purchase of EAB
US - Federal banking regulators approved Citigroup Inc.'s $1.6 billion purchase of European American Bank, a deal designed to expand Citibank's presence in the New York metropolitan area.
Bank of England Huntingdon's banker
UK - The drug-testing company at the centre of an intimidation campaign by animal rights activists is to be given banking facilities by the UK Government at the Bank of England.