Regulation
Decision on Bank of France restructuring expected
The decision on what form the planned restructuring of the Bank of France's network of branches will take is to be announced on 28 April, according to Le Figaro.
Ferguson on Basel II: A Realist's Perspective
In a speech on 'Basel II: A Realist's Perspective' Roger Ferguson of the Federal Reserve said the Basel II proposals represent a truly significant step in the evolution of bank regulation. "They are important and deserve your most thoughtful…
Strengthening of the US financial system
A Regulators Issue Interagency Paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System was published on 8 April. The paper identified sound practices to strengthen the resilience of critical U.S. financial markets.
Bollard on financial sector corporate governance
In a speech on 'Corporate Governance in the Financial Sector' Alan Bollard of the Reserve Bank of New Zealand outlined the internationally distinctive way in which the Reserve Bank supervises banks in New Zealand and emphasised that the Reserve Bank…
Bank of England told to hand over BCCI documents
A ruling in the appeal court means confidential documents held by the Bank of England relating to the BCCI collapse must be released, according to a report in the Financial Times. Liquidators for BCCI creditors allege that senior Bank of England staff…
Volcker critical of corporate governance failures
Former Federal Reserve chairman Paul Volcker has said governments are partly responsible for the scandals involving corporations such as Enron and WorldCom and that public scepticism has reached worrying levels, reports the VOA News.
Nauru passes legislation to axe offshore banks
Nauru's parliament has passed legislation which will abolish the country's controversial offshore banks.
CGFS report on institutional asset management
The latest report from the Committee on the Global Financial System (CGFS) has been published. The report "Incentive structures in institutional asset management and their implications for financial markets" was prepared by a working group comprising…
UK financial services regulation needs overhaul
An article in the Financial times suggests that financial regulation is a balancing act. On the one hand too tough an approach may reduce London's position as a major financial centre, but on the other hand a laissez faire attitude will bring criticism…
Russia takes Latvia off currency control list
Russia's central bank has removed the tight currency controls which it had in place against Latvia. These are the last of the restrictions adopted by Russia's central bank regarding Latvia in 1998, according to a report from the baltic News Service.
SARB may block access to banking information
Governor of the SARB Tito Mboweni told South Africa's parliament on Friday that he may seek to prevent confidential banking information entering the public domain, reports Business World
Jordanian c b approval needed over Iraqi funds
Jordan's central bank has told banks to secure its authorisation before allowing the withdrawal of funds from Iraqi accounts. AFP reports that the governor of the central bank of Jordan said the measures would help guarantee the security of the banking…
Complexities of Basle 2
An article in the Financial Times reports that the Basle bank capital accord is being stifled by complexity. Though central bankers and supervisors have worked hard on Basle 2, a US decision to apply the standard to a mere handful of banks has revived a…
New chairman of UK FSA
Callum McCarthy, a former executive at Barclays Bank and currently chief executive of the UK's energy industry regulator Ofgem, is expected to be named as the next chairman of the UK's Financial Services Authority, reports the Financial Times. The report…
Fed's Olson on the Regulatory Relief Act
In a speech on 'Financial Services Regulatory Relief Act of 2003' Mark Olson of the Federal Reserve endorsed legislation that would make it easier for banks to open branches in other states. The ban on opening new branches gives savings associations an…
Serbia, Montenegro appoint National Bank to IMF
Serbia and Montenegro have agreed to appoint the national bank and its governor as fiscal agents with the IMF, says the Tanjung news agency.
Extra six months proposed for Duisenberg at ECB
A report by Belga News quoting official sources says Greece, as the current holders of the EU presidency, will propose that ECB president Wim Duisenberg stays on for another six months in office.
No Iraqi money in Ukraine - Central Bank
Speaking on Wednesday March 27, Serhiy Tyhypko said that the US call to freeze Iraqi assets would not affect the Ukraine as the country did not hold any Iraqi bank accounts, according to a report by Interfax-Ukraine News Agency.
Vahhaji takes over as central bank head in Iran
After the sudden death of the governor of the central bank of Iran, Mohsen Nourbakhsh, at the weekend, it has been announced by the Islamic Republic News Agency that the deputy governor will assume the position of interim governor.
Lebanese central bank fighting money laundering
A report issued on Wednesday March 26 says that the central bank of Lebanon is increasing its activities against suspected money launderers, according to a report in the Lebanon Daily Star. Central Bank Governor Riad Salameh is reported to have said in…
HKMA Pay Adjustments 2003
The Hong Kong Monetary Authority (HKMA) announced on Thursday March 27 that the pay adjustments for staff of the HKMA would take effect in April 2003. The changes include a further reduction of just over 5% in fixed pay for Chief Executive Joseph Yam.
Dominican central bank chief becomes minister
The president of the Dominican Republic's central bank, Frank Guerrero Pratts, has been appointed foreign minister of the Caribbean nation, according to a report by Associated Press. The previous foreign minister resigned on Wednesday March 26 after…
Crockett- Central banking, fin stability, Basel II
SPEECH - In a speech on 'Central banking, financial stability and Basel II' Andrew Crockett of the BIS said restoring financial stability has been at the core of the efforts to revive economic performance. Promoting financial health, however, is not just…
Asia prepares for impact of Iraqi war on markets
Contingency plans are being made for Asian markets to maintain normal functioning during the Iraqi conflict, according to a report in the Wall Street Journal.