News
Bank of Zambia wants business plans from banks
Commercial banks in Zambia will, effective next year, be required to submit yearly business strategic plans to the central bank.
CBR likely to amend monetary policy framework
The Bank of Russia last week submitted to the Duma "Guidelines for the government's unified monetary and credit policy in 2001".
China's regulators approve five foreign auditors
Five auditing companies with foreign partners have been included in a list of firms approved by China's regulators to conduct financial audits, People's Bank of China said Tuesday.
Thiessen rejects dollar union
Gordon Thiessen, Bank of Canada governor, has again rejected the idea of sharing a common currency with the United States.
El Salvador makes way for US dollar general use
El Salvador is making final preparations to introduce the US dollar into general use in January, importing the US currency and training bank employees how to avoid money laundering and counterfeit schemes, officials said on Wednesday.
Yugo banks told to prepare for international audit
Yugoslavia's central bank told commercial banks on Wednesday to prepare for international auditors as monetary authorities tried to assess the banking sector ahead of planned reform.
Cyprus prepares to dismantle interest rate regime
Cyprus is preparing a major shake-up of its financial markets in January to remove measures left over from its days as a British colony and to shore up its economy prior to joining the European Union.
Ex-Fed Blinder - Japan needs cheaper yen
Alan Blinder, a former deputy chairman of the Federal Reserve, said Thursday Japan ought to boost demand by making its currency cheaper.
Korea c.bank says holding rates for now
Korea may cut interest rates to ward off a sharp economic downturn but only if prices remain under control, Bank of Korea Governor Chon Chol-hwan said on Thursday.
Pakistan banks told to double capital base by 2003
Pakistan has told banks to double their minimum paid-up capital to one billion rupees ($17.2 million) by the start of 2003.
Bank of Italy calls for action on usury ruling
Italy's central bank called for the government to take urgent action to soften the impact of a court ruling that could force banks to pay as much as 50 trillion lire to consumers who paid too much interest on home loans.
Zeti gives Dec. 31 as deadline for bank mergers
Bank Negara governor, Datuk Dr Zeti Akhtar Aziz said today that the December 31 deadline for bank mergers remained unchanged.
Venezuela 'overdrive' plan still not in effect
Venezuelan President Hugo Chavez acknowledged Tuesday that a $2.1bn government spending plan he announced two months ago to spur economic growth had still not taken effect.
Kenya bill to control bank interest rates passed
Kenya's parliament today passed with amendments the Donde bill that seeks to regulate interest rates charged by commercial banks.
Bangladesh Bank to increase forex reserves
Bangladesh Bank, the country's central bank, has launched a vigorous move to replenish the country's emaciated foreign exchange reserve by relaxing its regulation on remittances, the United News of Bangladesh reported on Tuesday.
Italy govt prepares to defuse bank loan crisis
Italy's government on Tuesday prepared to defuse a potential crisis threatening the country's banks, which may have to refund customers huge amounts of loan interest payments after a Supreme Court ruling.
Vietnam banks dispute compulsory reserve ratios
Commercial banks have criticised the central bank's increase of the compulsory ratio of deposit reserves from this month from 8% to 12% for call and less than 12-month deposits in the dollar.
Oman cenbank plans Electronic Fund Transfer system
Oman's central bank proposes to introduce Electronic Funds Transfer system to facilitate faster and accurate domestic inter-bank payments.
House okays new Philippines Central Bank Act
The Philippines House of Representatives approved on second reading Tuesday evening, a measure introducing amendments to the Central Bank Act. Representatives said the new Central Bank Act would improve the Bangko Sentral's effectiveness and strengthen…
Irish hoarding of coins poses euro problem
The image of the Irish hoarding their untaxed earnings under the mattress may be apocryphal, but a study published on Monday estimated that as much as I£30m (E38.1m) in coins may be kept in jam jars, glass bottles, biscuit tins even in shoe boxes.
Broaddus says US economic outlook extremely cloudy
A Federal Reserve policymaker said Monday the US economic outlook is growing increasingly murky but he said he remains confident the economy will avoid a recession or an inflation outbreak the coming months.
Buba's Stark - US growth slowdown coming true
Bundesbank deputy president Juergen Stark said on Monday he was pleased with the euro's appreciation and said the slowdown in US economic growth appeared to be materialising.
Former Ukraine bank governor under investigation
An investigation into the alleged misuse of funds by the former first deputy chairman of the National Bank of Ukraine, Volodymyr Bondar, is under way, Ukrainian television's Third Programme reported.