Regulation
Japan's Fukui on financial services
Toshihiko Fukui, governor of the Bank of Japan, gave a speech on July 22 about the significance of efficient financial services for the future of Japan's economy.
Papua New Guinea's Kamit on economic issues
Addressing the New Ireland Forum for Development Mr Kamit, governor of the Bank of Papua New Guinea, spoke about the issues facing the central bank, and developments in the country's economy.
Thai leader shows support for central bank chief
At a press conference on Friday 14 August, the Thai prime minister, Thaksin Shinawatra, quashed speculation that he would replace the governor of the Bank of Thailand over problems in the banking sector.
Brazil's Cavalheiro on regulation and Basel II
In a speech on 'Regulation of capital and financial stability' given on 12 July, Paulo Sergio Cavalheiro of the Central Bank of Brazil said supervisors still have a lot of work to be done in order to implement Basel II. The next steps include the…
RBNZ's Bollard on supervising overseas-owned banks
In a speech on 'Supervising overseas-owned banks: New Zealand's experience' given on 11 August, Alan Bollard of the Reserve Bank of New Zealand said the Reserve Bank is "seeking to reinvigorate the regulatory arrangements for New Zealand's banking system…
Chinese regulators tackle illegal capital flight
China's financial and securities watchdogs have launched a crackdown on the illegal flight of capital via offshore financing centers such as the British Virgin Islands and Cayman Islands, state press reported.
New South Korean regulator named
Roh Moo-hyun, South Korea's president, named Yoon Jeung-hyun, a director of the Asian Development Bank, as the new head of the country's top financial regulator this week.
Implementing Basel II: Practical considerations
The Basel Committee published "Implementation of Basel II: Practical Considerations" on 29 July. While the revised Framework has been designed to provide options for banks and banking systems world-wide, the Committee says it acknowledges that moving…
Joint Forum: Outsourcing in Financial Services
The Joint Forum released a report entitled Outsourcing in Financial Services for consultation on 2 August. The report examines the growth in outsourcing in the financial sector and the trends that have accompanied this growth.
Stark- EU not ready for single financial regulator
The European Union is not ready for a single financial regulator, according to a newspaper article by Bundesbank Vice President Juergen Stark.
Le Pan on implementation of Basel II - next steps
In a speech on 'Implementation of Basel II - the next steps' given on 6 July, Nicholas Le Pan, Chairman of the Basel Accord Implementation Group, said cost effective implementation is in the interest of not only banks but of supervisors. Supervisors don…
Russian cb introduces new currency regulations
Several rules concerning currency regulation will enter into force in Russia on 1 August, the department of external and public relations of the central bank reported.
Banking crisis declining says Russia's Ignatyev
Russian Central Bank Chairman Sergei Ignatyev said on Thursday 15 July that he believes the banking crisis is declining. "I believe the trust crisis is over. It is very important now to ensure higher activity on the inter-bank loan market," he said.
PBOC's Zhou says China won't loosen loan controls
The People's Bank of China will not loosen control over loan extension despite complaints from local businesses about cash flow problems, according to Governor Zhou Xiaochuan of the People's Bank of China.
Taiwan combining regulators to bring in investors
Taiwan is combining its insurance, securities and banking regulators, reducing the watchdog role of the central bank and the Ministry of Finance, to help lure overseas investors and reduce conflicts of interest. The convergence of institutions is seen in…
Trichet and Caruana on Basel II
The BIS published on 1 July the opening remarks by Jean-Claude Trichet and Jaime Caruana at the press conference announcing the publication of Basel II, held on 26 June.
New online resource for banking supervisors
The Bank for International Settlements (BIS) announced on 29 June the launch of FSI Connect, an online information and learning resource developed by the Financial Stability Institute (FSI) specifically for banking supervisors.
IMF says Russian banking oversight adequate
The International Monetary Fund thinks the Central Bank of Russia's banking sector oversight is adequate, Poul Thomsen, head of the IMF's Moscow office, told a press conference at Interfax.
Fed seeks nominations to Consumer Advisory Council
The Federal Reserve Board has announced that it is seeking nominations for appointments to its Consumer Advisory Council. Eleven new members will be appointed to serve three-year terms beginning in January 2005.
Taiwan appoints new regulator chief
Taiwan has appointed Jaw Sheng Kong as chairman of the newly formed Financial Supervisory Commission. Kong, 48, is currently chairman of state-owned Taiwan Sugar Corp, said the Executive Yuan, the island's Cabinet.
Fed's Kohn on regulatory reform proposals
In testimony 'Regulatory reform proposals' given on 22 June, Donald Kohn of the Federal Reserve said that the Federal Reserve Board strongly supports legislative proposals that would authorise the payment of interest on demand deposits and on balances…
The Norwegian Banking Crisis
It has been ten years since the Norwegian banking crisis ended. This publication considers the crisis in retrospect and provides a comprehensive, but reasonably compact description in English of the Norwegian banking crisis. It contains six chapters and…
IMF's Carstens on anti-money laundering
In a speech on 'Anti-Money Laundering and Combating the Financing of Terrorism: The Challenges Ahead' given on 4 June, Agustin Carstens of the IMF said since global efforts to combat AML/CFT began in the early 1990's, there have been many successful…
Olson on banking insurance & securities activities
In a speech on 'Regulatory update: Banking industry, insurance, and securities activities' given on 10 June, Mark Olson of the Federal Reserve said the U.S. system of risk-focused bank supervision relies heavily on cooperation among multiple state and…