Regulation
Hong Kong's Yam on cb authority and transparency
In a speech on 'Central bank authority, accountability, transparency and effectiveness' given on 18 November, Joseph Yam of the Hong Kong Monetary Authority said there has been a shift in the approach to transparency in recent years, from a broad…
Korea's financial watchdog to get Beijing office
South Korea's top financial watchdog will open an office in Beijing by January next year, the Financial Supervisory Service (FSS) said on Wednesday 8 December.
ECB report 'The euro bond market study 2004'
The European Central Bank published a report entitled "The euro bond market study 2004" on 3 December. The report contains the results of an analysis of developments in the euro bond market since 2001.
Trichet on the integration of the single market
In a speech on 'The integration of the single market for financial services: the Eurosystem perspective' given on 6 December, Jean-Claude Trichet of the European Central Bank said the ECB will start publishing a report on the stability of the eurozone…
BI to issue new banking regulations
Bank Indonesia will soon release two crucial regulations to accelerate banking activities, strengthen banking institutions and to boost real economic sectors, including small-to medium enterprises (SMEs), BI governor Burhanuddin Abdullah said.
RBNZ's 'Snakes and ladders'
The Reserve Bank of New Zealand has issued a new publication that seeks to inform households about how to manage the risks inherent in saving and investing. The 48-page publication has been commissioned by the Reserve Bank and written by investment…
Arab states launch money laundering task force
Arab states agreed on Tuesday 30 November on the creation of the 14-member Middle East-North Africa Financial Action Task Force to work together to try to keep money out of the hands of terrorists.
Biern on The Bank Secrecy Act & USA Patriot Act
In testimony 'The Bank Secrecy Act and the USA Patriot Act' given on 17 November Herbert Biern of the Division of Banking Supervision and Regulation said regulators believe that banking organizations have to take reasonable and prudent steps to combat…
ECB report on bond markets & interest rates
The European Central Bank published the third and extended edition of a report entitled "Bond markets and long-term interest rates in non-euro area Member States of the European Union and in accession countries" on 24 November.
Ukraine central bank introduces stability measures
The National Bank of Ukraine announced on Tuesday 30 November that it is forbidding commercial banks from making early deposit withdrawals and has set limits on cash and noncash foreign-currency transactions to preserve stability during the country's…
PBOC deputy governor sees no RMB reform timetable
Regulators may let China's four biggest state banks become market makers in US dollar trading, clearing the way for less currency intervention by the central bank, a state-run newspaper reported on Monday 29 November.
Italy's Fazio on regulation and supervision
In a speech on 'Regulation and supervision in financial markets' given on 19 November, Antonio Fazio of the Bank of Italy said the economy of the euro area is afflicted by a loss of competitiveness that reflects structural weaknesses in several fields.
Bahrain establishes new money laundering taskforce
Bahrain is establishing a new taskforce to combat money laundering and terrorist financing across the region. The Middle East and North Africa Financial Action Task Force (MENAFATF) will be set up on November 29 and 30 in a meeting to be held behind…
Riksbank deputy on the housing market
Increasing household debt and rising housing prices since the early 1990s have been of great interest to the Riskbank, said Lars Nyberg, a deputy governor, in a recent speech. The central bank and consumers must be vigilant although there do not "seem to…
Frankel on currency crises
In the 2004 Mundell-Fleming lecuture, given at the IMF on 5 November, Professor Jeffrey Frankel examines currency crisis, and their political fallout.
Macfarlane: Monetary Policy & Financial Stability
At a speech given in Melbourne, Reserve Bask of Australia governor, Ian Macfarlane highlights rising risks within the Australian home loan market.
Caruana: what is next for Basel
Remarks by Mr Jaime Caruana, Governor of the Bank of Spain and Chairman of the Basel Committee on Banking Supervision, at the "Basel II: Reality Check" Conference, London, 10 November 2004.
Brazil's central bank takes over Banco Santos
Brazil's central bank took over operations of Banco Santos on Friday evening, in response to the bank's weak financial situation and its failure to meet deposit requirements.
Fed's Bies on financial supervision issues
In a speech on 'Financial supervision issues' given on 5 November, Susan Schmidt Bies of the Federal Reserve said the US government budget has become a "cookie jar" for lawmakers over the past four years, with taxpayer funds spent in some cases for …
Chicago Fed's Moskow on community development
In a speech on 'Lessons for Community Development Financial Institutions' given on 5 November, Michael Moskow of the Federal Reserve Bank of Chicago said Community banks could learn from some of their competitors, such as check-cashing services, and…
Iraqi central bank authorises hard currency loans
The Iraqi Central Bank has authorized the public and private banks to give loans in hard currency to citizens in accordance with the regulations and mechanisms approved by each bank's board of directors.
Interview with Central Bank of Nigeria's Soludo
In a recent interview Central Bank of Nigeria governor Charles Soludo talked about his plan to increase banks' minimum capital requirement. Soludo gives his opinion on some of the most talked-about points of his plan.
Padoa-Schioppa on European financial institutions
In a speech 'How to deal with emerging pan-European financial institutions?' given on 3 November, Tommaso Padoa-Schioppa of the ECB said the regulatory and supervisory framework that is now in place can meet the challenges. The condition, however, is…
Cyprus and Russia sign money laundering accord
The Cypriot Unit for Combating Money Laundering (MOKAS) has signed a cooperation agreement with the corresponding unit from the Russian Federation on international cooperation against money laundering and combating the financing of terrorism.