News
Montenegro rejects NBJ advances
The leaders of Montenegro's monetary authorities sent a message today to the new governor of the National Bank of Yugoslavia, Mladjan Dinkic, that he should not try to establish monetary sovereignty over Montenegro, because that is "neither theoretically…
Fed offers rule to find predatory subprime lenders
The US Federal Reserve Board proposed a rule Wednesday that could help the government identify predatory lenders.
BOJ's pre-tax profit plunges 73.7%
The Bank of Japan announced Wednesday that its pretax profit plunged 73.7% on the year to 248.2 billion yen (US$2.25 billion) in the fiscal first half ended September 30. The central bank suffered massive losses on long-term government bonds, coupled…
New payments system in Bosnia ready by Dec 31
In its monthly newsletter, the Central Bank of Bosnia and Herzegovina gives an update on its preparations for setting up a new payments system in Bosnia and Herzegovina.
Montenegro won't let Yugo c.bank resume control
Montenegro said on Wednesday it would not allow the Yugoslav central bank to resume control over the coastal republic's monetary policy now that it was firm in its aim to gain independence and international recognition.
Bank of Greece sees lower inflation, wants reforms
Greece's central bank said on Wednesday inflation should drop below 3% in the second half of 2001 but called for faster structural reforms to improve competitiveness once the country enters the Eurozone.
Manila paves way for capital adequacy changes
The Philippines central bank said on Wednesday it would put in place a new credit rating mechanism for banks opting to increase capital through promissory notes instead of direct cash infusions from shareholders.
Central bank deputy must be Montenegrin-Kostunica
Yugoslav President Vojislav Kostunica's party told the new central bank governor on Wednesday to accept a candidate from Montenegro as his deputy since it was part of a deal between the country's two republics.
Japan regulator suggests bank limit stock sales
In an attempt to stop Japanese banks from dragging the stock market down, Hideyuki Aizawa, head of Japan's Financial Reconstruction Commission, will call on banks to restrict the sale of their stock portfolios.
Rules for credit cards loosened by Thai regulator
Applying for a credit card has become easier after the Bank of Thailand eased minimum age and salary requirements for new cardholders.
Belgium growth at 3.1% in 3Q down on 2Q
The Belgian economy grew 3.1% on the year in the third quarter, down from 4.6% in the second quarter and from 3.5% in the third quarter of 1999, the Belgian National Bank said Wednesday.
Vietnam's bad and overdue debts 11.7% of loans
Vietnam's "bad, overdue and uncollectible debts," now total 11.7% of the country's total outstanding loans, central bank governor Le Duc Thuy said Wednesday.
Vietnam clarifies rules on loan loss provisions
Vietnam's central bank has issued a regulation clarifying how commercial banks must calculate and put aside their loan loss provisions, a central bank official said Wednesday.
Czech pres officially appoints Tuma bank governor
Czech President Vaclav Havel Wednesday officially appointed Zdenek Tuma as the new governor of the Czech National Bank at a ceremony at the presidential summer palace.
Malaysia can keep lid on interest rates - Zeti
Malaysia can keep a lid on interest rates because of its low inflation and monetary policy is likely to remain accomodative to growth, Bank Negara governor Zeti Akhtar Aziz said on Wednesday.
Thai c.bank says dlr/baht market back to normal
The Bank of Thailand said on Wednesday the dollar/baht market had returned to normal after gridlock over the past week as onshore banks scrambled to pare credits to offshore counterparties and funding costs soared.
Bbk Zeitler: Continue reforms to reverse weak euro
The euro's current weakness is "completely surmountable" if national governments in the 11-nation euro area continue to press ahead with structural reforms, Bundesbank council member Franz-Christoph Zeitler said Wednesday.
IMF concerns over Indonesia's slow pace of reform
The Indonesian rupiah ended lower in Asian trade Wednesday on news that the International Monetary Fund has set a December deadline for Jakarta to show it's serious about economic reform.
Sarkissian: Price stability will be maintained
The head of Armenia's central bank said that stability in the financial markets will be maintained when the government spends 8 bln drams from the privatisation fund in order to cover social expenses and other financial inflows in December 2000.
Kenyan parliament passes bank bill on 2nd reading
Kenya's parliament passed a controversial bill seeking to regulate commercial bank loan rates on its second reading on Wednesday, but politicians said amendments would be tabled to the bill on Thursday.
Romanian c.bank to cut min. reserve rates-bankers
Romanian commercial bankers said on Wednesday the central bank was expected to gradually cut the rate on minimum reserve requirements starting this year.
Belarus c.bank to cut key rate to 80% 1 December
Belarus's central bank said on Wednesday it would lower its key refinancing rate to 80% annually from 85 percent, effective December 1.
Russia needs unified supervisory rules -Motorin
According to Russia' deputy finance minister Mikhail Motorin, it is necessary to establish a supervisory system that would operate according to unified rules and control activities of the Federal Securities Commission, insurance companies, and private…
Gold as part of diversified investment plan
Including gold in a diversified portfolio can improve investment performance and make the investment better able to cope with shocks to the system. World Gold Council institutional investment head Dr Robert Weinberg said gold can improve investment…