Regulation
G7 deputies may meet at Financial Stability Forum
G7 central bankers may separate from their ministry colleagues at the meeting in Berlin on Monday March 24 of the Financial Stability Forum (FSF). Reuters reports that the meeting will include an evaluation of the impact of recent financial market…
BoJ takes emergency stability measures
The Bank of Japan has taken emergency measures to shore up the financial system as the US led war on Iraq begins. Toshihiko Fukui began his first day as the governor of the BOJ saying on Thursday "The Bank of Japan closely monitors associated economic…
IMF admits policy failures on economic advice
The IMF's chief economist Kenneth Rogoff has described as "sobering" an IMF report which is critical of the advice the organisation provides to developing countries on economic reform, according to the BBC.
IMF: Give Bank of Israel full independence
A comprehensive IMF report recommends that the Bank of Israel is given independence from government control. It also highlights areas where the Bank can improve transparency, according to Globe online.
Carse: how the HKMA tackles money laundering
In a speech "The Fight Against Money Laundering and Terrorist Financing - The HKMA Viewpoint" delivered on March 17, David Carse, deputy chief executive, outlined Hong Kong's approach to combatting financial crime.
Ukrainian MPs to see secret central bank data
Members of Ukraine's parliament are to be allowed access to files previously kept secret by the central bank. interfax reported that the Ukrainian Constitutional Court upheld the right of MPs to request access to NBU data.
Split over Iraq may hit new Basel bank rules
A report in the Financial Times suggests the new Basel 2 rules update may suffer damage from the transatlantic war split and signs exist of a loss of patience with the long drawn out discussions. The result could be a degrading of the accord, the report…
Bank of Israel looks for buyer of Euro Trade Bank
The Bank of Israel is on the lookout for potential buyers for the Privately owned Euro Trade Bank. Motivated by concerns for its stability, the central bank is not having much success, however.
Banking - Hong Kong style
BOOK - The HKMA yesterday published the second of a series of background briefs designed to explain the workings of Hong Kong's monetary and banking systems. "Banking Supervision in Hong Kong" describes the main features of Hong Kong's banking system and…
Philippines escapes FATF sanctions
Following the passage of new anti-money-laundering legislation, the Financial Action Task Force has decided not to impose sanctions on the Philippines.
Large calls for extension of Basel capital
SPEECH - Speaking in London to a conference organised by the British Bankers' Association, Sir Andrew Large, the Bank of England's deputy governor responsible for financial stability, argued that the new Basel II capital regime would soon have to be…
China to create bank regulator
China is to create a banking watchdog which will take over the regulatory responsibility for 110 commercial bank from the People's Bank of China.
Treasury: Israel's central bank wages shocking
Israel's treasury department has said that it will investigate the legality of high salaries at the Bank of Israel following the release of a report, according to the Haaretz Daily. But the central bank hit back saying that salaries are determined by…
European Parliament rejects ECB vote rotation idea
ECB and enlargement - 'No' to proposed changes. The Economic and Monetary Affairs Committee of the European Parliament on Monday March 10 rejected the ECB's proposal to reform the current voting system of its Governing Council.
Philippine central bank head takes one month leave
The governor of the Bangko Sentral ng Pilipinas, Rafael Buenaventura, is to leave his post for a short time and seek medical treatment in the United States, according to a Dow Jones report.
European banks agree crisis rules
The European Central Bank, according to an article in Business World, said on Monday that a set of rules had been agreed between EU banking regulators and central banks to deal with financial crises. The framework will deal with preventing a financial or…
G10 meeting on banking supervision
Meeting of G10 central bank governors and heads of banking supervision - The G10 central bank governors and heads of banking supervision met on 9 March in Basel to discuss issues related to the Basel Committee on Banking Supervision.
China to again reform its econ planning ministries
A plan to reorganise China's key economic ministries calls for a new State Banking Regulatory Commission to be spun off from the central bank, according to agency reports.
OCC blow to Basel II timing
Hopes of finalising the new Basel capital accord in 2003 took a blow Monday as US Comptroller of the Currency John D. Hawke said in a speech that the OCC would insist on changes to the accord if, after a round of public consultation, US banks were not…
Regional Fed banks prepare for aging of the guard
ARTICLE - This article looks at a possible 'seismic' shift in the make up of the Federal Reserve's policy making board. Both the Richmond and San Francisco Fed governors are due to step down next year while Alan Greenspan may not stay beyond 2004.
Kenyan central bank governor defends himself
The governor of Kenya's central bank has excused himself from blame in the Euro Bank case. Nahashon Nyagah said the central bank acted professionally in the case.
US Fed's Ferguson backs new world bank rules
Roger Ferguson said on Thursday that criticism of the Basel II rules have not convinced the Federal Reserve that the agreement should be scrapped.
Russia on course to join FATF
Following the recent FATF and G8 summits in Paris, CentralBankNet learns Russia looks set to join the Financial Action Task Force on money laundering (FATF) in June, less than a year after being removed from the organisation's blacklist of non…
Preparations for terror attack
A UK Treasury paper has looked at the idea of the goverenment taking direct control of key financial institutions, including the Bank of England, in the event of a September 11 style terrorist attack on London. The Treasury stressed it remains open…