News
Ecuadorian colonel says lift bank secrecy veil
Former Colonel Lucio Gutierrez, who led the January coup that removed President Jamil Mahuad from office, called on the Ecuadorian government to lift the bank secrecy act and reveal the names of the beneficiaries of the March 1999 bank holiday decreed by…
Danish cenbank may step up market operations
The governor of the Danish central bank said Wednesday that the bank may step up its activity in the money markets if industry consolidation reduces market efficiency.
Jusko says Slovak crown's losses nothing special
The current losses posted by the Slovak crown to the euro are nothing unusual, Marian Jusko, the governor of the National Bank of Slovakia, told reporters today.
Singapore announces changes in currency policy
The Monetary Authority of Singapore, the central bank, has allowed banks in the country to lend Singapore dollars to non-residents in the city state in an effort to further liberalise its policy on non-internationalisation of the Singapore dollar and…
BOC warns of inflation risks, keeps rates on hold
The Bank of Canada pointed to inflation risks lurking in the economy, but left interest rates unchanged yesterday in the first of its regularly scheduled policy announcements.
Buba views on Eurozone enlargement upset hopefuls
The Bundesbank's bid to make joining the Eurozone tougher for eager east European applicants has upset candidates but analysts said it will be politically impossible to make the demand stick.
Bulgarian premier urges banks to lend more
Bulgarian prime minister Ivan Kostov on Tuesday urged local bankers to lend more to boost economic growth instead of keeping funds deposited abroad. Central bank governor Svetoslav Gavriiski said at the same meeting he expected increased lending to…
NZ holds rates, hawkish RBNZ outlook surprises
The Reserve Bank of New Zealand kept its official interest rates on hold as expected on Wednesday, but surprised many in the markets with a hawkish outlook for 2001.
RBNZ Brash cut transparency to save credibility
Reserve Bank of New Zealand governor Don Brash said Wednesday he decided to reduce the amount of information contained in his bank's quarterly monetary policy statements to help safeguard the credibility of the institution, particularly in the eyes of…
Cyprus denies Milosevic money laundering claims
The Cyprus government has fended off press allegations that money belonging to the former Yugoslav President Slobodan Milosevic has been laundered through Cyprus-based banks.
Belgium seeks financial market regulatory reform
Belgian Finance Minister Didier Reynders proposed on Tuesday a reform of the country's financial market regulatory system which would strengthen the power of government regulators and harmonise oversight of stock exchanges.
BOT says government must focus on FIDF losses
The Bank of Thialand said yesterday the priority of the new government is to seek viable ways of repaying losses incurred by the Financial Institutions Development Fund.
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.