Switzerland
Swiss National Bank calls for deregulated economy
In his debut speech, reported by the Financial Times, the Swiss National Bank's board member for financial markets, Philipp Hildebrand, called for broad deregulation of the domestic economy to tackle unemployment and protect the country's long-term…
Swiss Nat Bank to sell 284 tonnes gold by Sep 2004
The Swiss National Bank said on Friday 26 September that it plans to sell 284 tonnes of gold from excess reserves by the end of September 2004 and aims to offload another 130 tonnes in 2005, according to a report by Reuters.
SNB's Roth urges finance reputation clean up
Speaking at the weekend Swiss National Bank president Jean-Pierre Roth told a conference the Swiss financial community needs to act to inspire more confidence and clamp down on money-laundering and "energetically reject" the idea that Switzerland is only…
BIS on cross-border cooperation for Basel II
The Bank for International Settlements today issued a report outlining principles for closer cross-border cooperation between supervisors on the new Basel Accord.
BIS increases transparency
Something which has largely escaped people's notice amid the flurry of recent changes at the BIS is that it has now declared the salaries of its senior management. This is consistent with its more general drive for greater transparency, since, as the new…
A twenty-first century BIS
73 years on and the world's oldest international financial organisationwith it, the BIS is alive and well. As usual, a swarm of central bankgovernors great and small descended on Basel last weekend to participate inthe BIS annual meetings.
Iraq shadow over the BIS?
Some European central bankers are said to be unhappy with the recent appointment of Roger Ferguson as head of the Financial Stability Forum. It is not that Ferguson is thought to lack qualifications for the job - quite the contrary, there is much respect…
Basel bunkum
No one understands the new Basel accord. Grown men are reduced to tears when they try. There are simply too many details for any one person to digest. But it is troubling indeed to learn that people don't even seem to understand how it was arrived at in…
Swiss central bank warns downturn could get worse
The chairman of the Swiss National Bank (SNB) has ruled out a sharp economic upswing in Switzerland in 2003, Swiss Info reports. Continued risks, Jean-Pierre Roth said, cannot be underestimated.
Swiss National Bank - Annual Report 2002
The National Bank of Switzerland has published its Annual Report for the year ended 2002.
Swiss National Bank reports fall in income
Swiss National Bank Financial Statements and Annual Report 2002. The SNB reported a fall in aggregate income during 2002; however this was partially offset from receipts of Sfr 1.53 billion from gold transactions and the revaluation of gold holdings.
Swiss rates on hold
The Swiss National Bank kept its key interest rate unchanged and repeated that that it could intervene to stop an appreciation of the Swiss franc, according to a Dow Jones report.
Interview with Andrew Crockett of the BIS
INTERVIEW - The global financial system is vulnerable to new shocks and officials will have to be on their toes to react should a series of them come together, the outgoing head of the Bank for International Settlements said in an interview Monday.
Tougher Swiss banking rules
Switzerland has introduced more stringent rules on account identities in a renewed attempt to counter accusations that its tight bank secrecy laws encourage foreign tax evaders, terrorists and money launderers to hide their money in Swiss bank accounts.
Swiss revolt
ARTICLE - There is talk a Socialist (the first ever) might join the three-man team manning the Swiss National Bank, reported an article on Tuesday.
BIS Press Release
PRESS RELEASE - Following a proposal by Nout Wellink, Chairman of the Board of Directors and President of the Bank for International Settlements (BIS), the Board of Directors on 13 January appointed Malcolm D Knight as the Bank's new General Manager.
ECB sticks to rates decision
SWITZERLAND - European Central Bank board member Eugenio Domingo Solans stressed the ECB's independence Monday and said it will not be pressured into cutting rates by political leaders in euro zone member states.
Swiss-'Give central bank gold reserves to schools'
SWITZERLAND - Non-governmental groups in Switzerland have called for more funds to boost schools and research. They even make the audacious suggestion that Swiss National Bank reserves could be used as part of these funds.
Blattner on the euro and what it means for the SNB
SPEECH - In the speech 'The Euro: Implications for Switzerland and for the Monetary Policy of the Swiss National Bank' made on 22 October, Niklaus Blattner of the Swiss National Bank said Switzerland's experience of the euro has, so far, been mainly…
Management and Supervision, Cross-Border E Banking
RESEARCH - Basel Committee Publications No. 93, October 2002. The purpose of this paper prepared by the Electronic Banking Group (EBG) of the Basel Committee on Banking Supervision is to further the Committee's dialogue with the banking industry and…
Banks must improve for new Sept 11-Swiss Nat Bank
SWITZERLAND - Financial institutions must take possibly costly steps to improve the global banking system's ability to handle another event like the September 11 attacks on the United States, a top central banker said on Monday.
Swiss central bank to sell 283T of gold
SWITZERLAND - The Swiss National Bank (SNB) plans to sell a further 283 tons of gold by the end of September 2003 under its plan to dispose of 1 300 tons of unneeded reserves, the central bank said on Thursday.
Report claims the euro may cause skin allergy
SWITZERLAND - Euro coins give some people a skin rash and a group of Swiss scientists have just released their research findings as to why this happens.
Committee aid search for new BIS General Manager
PRESS RELEASE - The Board of Governors of the Bank for International Settlements (BIS) has named a committee to assist in seeking a replacement for departing General Manager Andrew Crockett. Mr Crockett has announced his intention to step down at the end…