Regulation
ECB on collision course over plan to regulate EU
EUROPE - The European Central Bank has put itself on a collision course with European financial regulators, including Britain's Financial Services Authority, over the ECB's ambitions to play a role in banking supervision.
Regulator warns about health of insurance industry
UK - The Financial Services Authority has warned that it is important for the long-term health of the insurance industry and clients that its capital base is strengthened.
China vows to safeguard stability of stock market
CHINA - China has promised investors to safeguard the "stability" of the stock market after a week of sharp price movements triggered by continuing confusion over the sale of the controlling stake held in most listed companies by government entities.
MPs send amendment to law on CNB to final reading
CZECH REPUBLIC - The Chamber of Deputies today sent to a final reading the government-sponsored amendment to the law on the Czech National Bank (CNB), which corrects the drawbacks of the previous amendment criticised by the European Union.
IMF supports Indonesian plan for independent team
INDONESIA - Finance Minister Boediono said that the International Monetary Fund (IMF) has lent its support to plans to create an independent team to determine the burden-sharing for the controversial Bank Indonesia emergency loan (BLBI).
Australia's Res Bank appoint head of domestic mkts
AUSTRALIA - The Reserve Bank of Australia said Tuesday it has appointed Philip Lowe as head of its domestic markets department.
Govt plans supervisory board for Bank Indonesia
INDONESIA - The government plans to set up a supervisory board within Bank Indonesia as one of several measures under the new central bank bill to increase its accountability.
Bank of Latvia president nominates his deputy
LATVIA - Bank of Latvia president Ilmars Rimsevics has nominated as his deputy Andris Ruselis, the vice-president of Balta and Latva insurance companies, reported the Latvian parliament press service.
China considers central bank role
CHINA - China's policy makers appear to be contemplating the future role of the People's Bank of China as banking supervisor as the country prepares to open its financial system to foreign competition.
Russian gov't submits changes to central bank law
RUSSIA - The Russian government has submitted to the State Duma revisions for the second reading of amendments to the law on the Central Bank, State Duma banking committee head Alexander Shokhin said on Thursday.
FSA acts to tighten assurers' solvency reports
UK - The Financial Services Authority plans to tighten rules that were used by Equitable Life, the troubled mutual life assurer, to bolster its reported financial strength.
Reform of EU securities rules moves a step closer
EUROPE - The European parliament yesterday took a decisive step towards acceptance of the Lamfalussy plan for speeding the reform of European Union securities market regulation.
Basel Committee on Banking Supervision
PRESS RELEASE - New Basel Committee paper explores roles of auditors and bank supervisors, 21 January 2002.
Basel Committee Publications - New paper
RESEARCH - The relationship between banking supervisors and banks' external auditors, Basel Committee Publications No. 87, January 2002.
CBR hopes to prevent central bank law amendments
RUSSIA - The Central Bank of Russia will make every effort to prevent amendments to the law on the Central Bank, approved by State Duma profile committees, from being passed by the Duma in a second reading.
Government seeks new amendment on BI law
INDONESIA - The government has resumed talks with legislators on the long suspended amendment of the central bank law, expanding the scope of discussion from Bank Indonesia's accountability to the entire law if need be, a legislator said.
BSP chief started out as a credit investigator
FEATURE - It is hard to imagine how today's business icons once lugged heavy books to sell, worked at the school canteen, sold pens and paper.
Croatian central bank governor considers leaving
CROATIA - The governor of the Croatian National Bank Zeljko Rohatinski is thinking about resigning his post in the near future, a top central bank source said on Friday.
Argentine police probe capital flight
ARGENTINA - Argentine police, probing claims of massive capital flight, have raided local offices of several major international banks.
Bank of England in legal action
UK - The Bank of England faces legal action by a mother who returned from maternity leave and was sacked for rejecting changes to its benefits package that made employees worse off, said Unifi, the banking and finance union.
Central bank chief warns on Russian reforms
RUSSIA - Russia's central bank president has cautioned against accelerating liberal economic reforms, saying it could undermine efforts to repay debt.
Role of Taiwan's financial regulators to change
TAIWAN - Amid all the recent talk of possible consolidation in Taiwan's financial sector, relatively little attention has focused on what could prove the most important merger of all: that of the island's regulators.
Speech by Horst Kohler, Managing Director, IMF
SPEECH - Horst Kohler in a speech 'International Conference on Poverty Reduction Strategies' expressed his confidence that this conference will be an important step forward in strengthening the core of the effort to reduce world poverty-self-help and…
Swiss gov't resists bid to widen cen bank mandate
SWITZERLAND - The Swiss government has resisted efforts by leftists and trade unions, during a revision of the central bank law, to make the Swiss National Bank lay equal stress on growth and employment as well as fighting inflation.