Regulation
Polish c bank's new duties may be unconstitutional
POLAND - The Constitutional Tribunal is likely to judge the planned amendments to the legislation regulating the duties of Poland's central bank unconstitutional, claims Mieczyslaw Czarniawski, head of the parliamentary Public Finance Committee.
UAE central bank reports surge in national staff
UAE - The UAE's central bank reported a surge in the number of its national workers as it presses ahead with a job nationalisation drive to ease reliance on foreigners.
Trichet backed as Duisenberg's successor at ECB
GERMANY - Edmund Stoiber, currently leading to race to become German chancellor, issued strong backing for Bank of France governor Jean Claude Trichet as the best successor to Wim Duisenberg as European Central Bank president. Paris prosecutors recently…
Poland's central bank chief 'in the line of fire'
POLAND - The Polish owner of a shooting range has found himself in trouble over images of the central bank governor's face which have been used as targets.
Crocked?
ARTICLE - Tuesday's Financial Times catches the mood of speculation on who is favourite to succeed Sir Edward George as the governor of the Bank of England with the suggestion that betting odds and horse racing may have something to do with it.
Basle accord set to change banking landscape
SWITZERLAND - The small Swiss town of Basle will this week play host to what could go down in financial history as a momentous event: agreement in principle on new banking regulations.
BIS Press Release
PRESS RELEASE - BIS holds Annual General Meeting and releases its 72nd Annual Report, 8 July.
BIS - Annual Report April 2001 - March 2002
ANNUAL REPORT - The Bank for International Settlements has published its Annual Report for the year ended April 2001 - March 2002.
Press Release from Sweden's central bank
PRESS RELEASE - New head for the Secretariat of the Executive Board at the Riksbank, 4 July.
Spain's central bank to close retail offices
SPAIN - Banco de Espana, Spain's central bank, intends to close down several of its 52 regional offices across Spain in order to reduce costs. At present, the authority operates one branch in every provincial capital of the country. Management intends to…
Bulgarian parliament adopts BNB report for 2001
BULGARIA - The 2001 annual report of the National Bank of Bulgaria, the central bank, was approved in parliament on 4 July. The vote was 127-5, with 13 abstentions.
Change at Japanese regulator welcomed by reformers
JAPAN - The Japanese government on Thursday named Shokichi Takagi as head of the Financial Services Agency - a surprise move that raised hopes of a more radical approach by the supervisory body to the bad debt problem plaguing Japanese banks.
Independence exaggerated
LETTER - Letter published in the London edition of the Financial Times on Wednesday from David Kern.
Basel Committee on Banking Supervision
REPORT - Results of Quantitative Impact Study 2.5, July 2002, released 1 July.
Monetary union on schedule for GCC states
UNITED ARAB EMIRATES - Gulf Cooperation Council (GCC) states are pushing ahead with an historic agreement to create an EU-style monetary union reports Gulf News. Officials said this week they are hopeful the project will materialise on schedule in 2010…
Pakistan tightens up rules on terror money
PAKISTAN - Pakistan is to announce new rules on Monday for tighter regulation of foreign currency dealers in an attempt to curb money laundering.
European Central Bank is indeed accountable
LETTER - Letter published in the London Financial Times on 28 June from Chris Huhne MEP.
A tale of two central banks
FEATURE - It is unusual for one nation to have two central banks, but that seems to be the case in Madagascar. Following disputed presidential elections in December 2001, there are now in effect two administrations in place: that of Marc Ravalomanana,…
Polish central bank head denies resignation rumour
POLAND - Central bank president Leszek Balcerowicz denied rumours on Friday that he wanted to resign as the Polish National Bank (NBP) president and the Monetary Policy Council (RPP) head.
Search may be on for a Greenspan replacement
US - Reports indicate that the Bush administration has commenced an informal search for Federal Reserve Chairman Alan Greenspan's successor, reports the Wall Street Journal on Friday.
HKMA chiefs are overpaid, study finds
HONG KONG - Hong Kong Monetary Authority (HKMA) chief Joseph Yam is one of many high ranking officials who may be forced to take pay cuts of at least 12 per cent if their governing boards endorse the recommendations of a pay study.
Meet Europe's Next Central Bank Chief
ARTICLE - He's Frenchman Jean-Claude Trichet, who has already been ordained to succeed Wim Duisenberg at the ECB in July 2003 reports BusinessWeek Online.
South Korean central bank to open office in China
SOUTH KOREA - The Bank of Korea has agreed to set up a representative office in Beijing, China, with its Chinese counterpart, the People's Bank of China, the Korean central bank said Thursday.
Banking supervision at the cross roads
RESEARCH - A paper presented at de Nederlandsche Bank conference titled 'Banking Supervision at the Cross Roads' by David Llewellyn from Loughborough University, UK, looks at the optimal regulatory environment and suggests a paradigm for ensuring…