Regulation
Kosovo to get central bank - Says report
KOSOVO - Banking and Payments Authority of Kosova [Kosovo] will transfer many of its services to commercial banks, since from now on, it will have the role of the central bank, its officials said at the promotion of the programme for bank transactions in…
FSA chief warns Europe on bank takeovers
UK - Sir Howard Davies yesterday called on fellow European regulators to allow foreign takeovers of banks, warning that nationalistic limits on bank ownership were a block to a single financial market.
ECB job decision seen moving into April
SPAIN - The next vice president of the European Central Bank is likely to be picked in mid-April with still only two candidates in the race at the end of the first day of a European Union summit in Barcelona.
S Korea appoints Park Seung new c bank governor
SOUTH KOREA - South Korea's President Kim Dae-jung Tuesday appointed Park Seung as the successor to Bank of Korea Governor Chon Chol-hwan, the presidential Blue House said.
'No change' to rouble exchange policy
RUSSIA - The new chairman-designate of Russia's central bank yesterday moved swiftly to reassure the financial markets that there would be no change to rouble exchange rate policy, while hinting at greater transparency in the management of his…
Controversy over Transnistrian "central bank"
FEATURE - The National Bank of Moldova denies the legitimacy of the "central bank" of the self-proclaimed "Trans-Dniester Republic". But in the breakaway republic, not recognised by any other country in the world, the Trans-Dniester Republican Bank…
Russian central bank chief quits on health grounds
RUSSIA - Viktor Gershchenko, chairman of the Russian central bank, resigned on Friday six months before his term was due to expire in September. He abruptly sent a letter of resignation to the president, Vladimir Putin, citing reasons of ill health.
Sudan's c bank tightens banking sector control
SUDAN - According to Al-Quds Al-Arabi newspaper (11 March), the Sudanese Central Bank intends to tighten control and supervision over the local banking sector.
ECB Duisenberg says europe needs structural reform
SPAIN - Wim Duisenberg, chairman of the European Central Bank, said Europe needs to speed up structural economic reforms to stimulate growth.
Israeli cabinet OKs diluting cen bank chief power
ISRAEL - Israel's cabinet on Sunday approved sweeping changes to the way interest rates are set but analysts said the plans, which include setting up a monetary council, would weaken the central bank and harm the economy.
Irish c bank "seriously concerned" by AIB report
IRELAND - The Central Bank of Ireland said Thursday it is "seriously concerned" by what has emerged from the so-called Ludwig report into fraudulent trading activities at Allied Irish Banks PLC (U.ALB).
IMF warns of new bank regulator
INDONESIA - Creating a new financial regulator is by no means a simple task. And a new entity in the making shows the potential for dragging the banking sector through a detour in its road to recovery, according to one study by the International Monetary…
UK government extends Davies' term at FSA
UK - The UK government on Wednesday said it had extended the term of Sir Howard Davies as head of its chief financial regulator until January 2004, ending speculation that he may stand down to move to the Bank of England.
Singapore, Hong Kong sign agreement on regulation
SINGAPORE - The Monetary Authority of Singapore (MAS) signed a Memorandum of Understanding (MOU) Friday with the Office of the Commissioner of Insurance of Hong Kong (OCI) for cooperation in regulation of the insurance industry.
Sabirin verdict - Bank Indonesia suspect foul play
FEATURE - Sjahril Sabirin, the governor of Bank Indonesia, has been accused of corrupt practices; Bank Indonesia is suggesting that the courts are guilty of the same crime. The bank alleges that underhand methods are being used to ensure its governor's…
Rating agencies criticize c bank reform
ISRAEL - Three leading international credit rating agencies have criticized the Finance Ministry's plans for reining in the independence of the Bank of Israel, but stopped short of saying it would affect the country's credit rating, The Jerusalem Post…
Duma to consider bill on central bank of Russia
RUSSIA - The Russian Duma will consider on 15 March the bill 'About the Central Bank of Russia (Bank of Russia)' in the second hearing.
EU summit won't discuss ECB job - German source
GERMANY - A German government source said on Thursday he did not expect this week's European Union summit to discuss who should succeed European Central Bank Vice President Christian Noyer, although surprises were possible.
Hong Kong tightens markets regulations
HONG KONG - Hong Kong legislators yesterday passed into law long-awaited legislation aimed at significantly tightening regulation of the territory's capital markets.
Indonesia c bank gov still in post despite verdict
INDONESIA - Indonesian central bank governor Sjahril Sabirin is still in charge of the institution despite being convicted on Wednesday of graft, as an appeal process has yet to take place, a senior official said. Sabirin was not taken into custody.
Arthur Grimes appointed to NZ c bank board
NEW ZEALAND - New Zealand's Finance Minister Michael Cullen said Wednesday that Arthur Grimes, one of the country's leading monetary policy specialists, had been appointed as a non-executive director of the Reserve Bank for a term of five years.
James Tobin, Keynesian economist of first rank
OBITUARY - James Tobin, the most influential Keynesian theorist of his generation, who became famous for his proposed tax on currency trading, has died aged 84.
Duma to consider bill on central bank of Russia
RUSSIA - The bill "About the Central Bank of Russian Federation (Bank of Russia)" will be considered by the State Duma in the second hearing on 15 March.
India's c bank set to open rep office in Dubai
UAE - State-owned State Bank of India (SBI) is planning to open a representative office in the UAE this year to tap the NRI resources, SBI chairman Janki Ballabh said.