Regulation
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…
Argentine central bank chief steps down from post
ARGENTINA - Mario Blejer, Argentina's central bank chief, resigned on Friday, raising fears that the country could be poised for a return to hyperinflation.
Irish central bank outlines regulatory duties
IRELAND - The central bank has written to the Government on the scope of its regulatory duties in the aftermath of the Allfirst fraud, which cost AIB dollars $691 million.
NZ closes applications for central bank chief post
NEW ZEALAND - Applications for the position of Governor of the Reserve Bank of New Zealand have closed but officials will not comment on how many candidates have expressed an interest in the position so far.
Speech by Susan Schmidt Bies of the Fed, 20 Jun
SPEECH - Speech by Fed governor, Susan Bies to the World Bank's 2002 finance forum meeting in Chantilly, Virginia. Bies examines whether developing countries can learn from the US experience in banking regulation.
Austria's Financial Stability Review
REPORT - The latest edition of the Oesterreichische Nationalbank's financial stability review is now out.
CB of China to circulate new NT $2,000 bill
TAIWAN - The Central Bank of China will launch a new purple coloured NT$2,000 bill on July 1 to complete the planned release of five different face value bills, including NT$100, NT$200, NT$500 and NT$1,000 denominations.
Deal agreed on Thai bonds
THAILAND - The Thai central bank and government on Friday unveiled a 780 billion baht ($18 billion) bond issue to share the burden of financial sector bailout after the crisis of five years ago. The government will pay the interest on the loan, but the…
Australia calls for regulation overhaul
AUSTRALIA - Australia on Wednesday called for increased co-operation among national securities regulators after revealing that local investors had been cheated of at least A$400m in just three years by illegal offshore telemarketing scams.
Super regulator
FEATURE - The idea of a super regulator for SA's banks, insurers, asset managers and financial markets has been around for three years. Finance Minister Trevor Manuel told Parliament more than a year ago that he planned to create one, but his comments…
Nigerian cb under investigation for fraud
NIGERIA - The Central Bank of Nigeria is under investigation for all the cases of fraud, corruption and mismanagement levelled against it and the banking system following an order by the House of Representatives.
China's cb says reform needed in commercial banks
CHINA - The governor of the People's Bank of China, Dai Xianglong, has reiterated the need for Chinese state-owned commercial banks to reform their management and risk control practices. He said the banks need to develop and implement business plans that…
Philippine cb should lobby for more power says IMF
PHILIPPINES - The International Monetary Fund is pressing the Bangko Sentral ng Pilipinas, the central bank in the Philippines, to lobby for changes in the country's banking laws in a bid to strengthen the central bank's supervisory powers over banks.
Anti-money laundering rules in Pakistan
PAKISTAN - The State Bank of Pakistan (SBP) has made it mandatory for banks and financial institutions to enforce 'Know Your Customer' (KYC) rules to counter the threat of money laundering, official sources in the central bank said on Tuesday.
Speech by Fed governor Susan S. Bies, 11 June
SPEECH - Remarks by Susan S. Bies on bank performance and corporate governance at the 112th Annual Meeting of the Tennessee Bankers Association, Hot Springs, Virginia.
Speech by Fed governor Susan S. Bies, 10 June
SPEECH - Fed governor Susan S. Bies delivered a speech on 'Lessons to be Re-Learned from Recent Breakdowns in Corporate Accounting' to the Institute of International Bankers in New York on 10 June. She attempted to outline what should be re-learned from…