Regulation
Japanese financial regulator reprimands ING Baring
JAPAN - ING Barings Japan, the investment bank, has been reprimanded by the Financial Services Agency (FSA), the country's chief banking regulator, for issuing inaccurate and misleading research, and has also been ordered to tighten internal compliance…
China tighten grip on overseas operations of banks
CHINA - China unveiled rules on 20 August aimed at tightening supervision of the overseas operations of Chinese banks to prevent financial risk.
Turkish police silence chained protester
TURKEY - Turkish police on 20 August detained a man who chained himself to iron railings outside Prime Minister Bulent Ecevit's office in protest at a hard-hitting economic crisis, state-run Anatolian news agency said.
Asian Monetary Fund not a bad idea - US official
USA - The administration of President George W. Bush would support the future establishment of an Asian IMF, a senior U.S. official said today, 17 August.
Fraga says he may stay on in opposition government
BRAZIL - Central Bank chairman Arminio Fraga said on 16 August that he may accept to keep his position after President Fernando Henrique Cardoso's mandate, which ends in 2002.
Philippines Arroyo says peso speculators face jail
PHILIPPINES - Philippine President Gloria Macapagal Arroyo said on 17 August the peso had rebounded because of the central bank's crackdown on currency speculation and warned speculators of harsh punishment, up to life imprisonment, in the future.
Are central bankers too territorial?
UK - A letter published in today's, 17 August, London edition of the Financial Times claims that central bankers hide behind their independence and protect their own turf.
Kenya unable to pass anticorruption legislation
US - The United States regrets Kenya was unable to pass an anticorruption bill to pave the way for receiving International Monetary Fund (IMF) aid and restarting an economy in its worst shape since the 1960s, the State Department said yesterday, 15…
Ex-SA Reserve Bank deputy gov joins Nedcor
SOUTH AFRICA - Nedcor Group, the South African financial services company, has appointed Timothy Thahane to the boards of several of its companies.
BOT chief says no whitewash
THAILAND - Bank of Thailand Governor MR Pridiyathorn Devakula yesterday, 15 August, denied there would be a "whitewash" of legal cases against former executives of banks and 56 defunct finance companies widely accused of impropriety.
Russian bank tension up as reforms threaten region
RUSSIA - Tension is growing over rival long-delayed measures to reform Russia's banking system as government officials prepare recommendations scheduled to be put forward at the end of September.
Ukrainian president approves anti-poverty strategy
UKRAINE - Ukrainian President Leonid Kuchma has signed a decree approving a strategy to overcome poverty.
Africa urged to speed up market integration
SOUTH AFRICA - Africa must step up efforts to integrate its financial markets, but the creation of a single bourse is still a long way off, African central bankers and exchange officials said on 15 August.
Ex-Buba chief Poehl slams ECB communication policy
GERMANY - Former Bundesbank President Karl Otto Poehl was quoted on 14 August as saying the communication policy of the European Central Bank was clumsy and inflexible.
Former Ukraine Bank official rejects fraud charge
UKRAINE - Official charges have been brought against a former deputy head of the National Bank of Ukraine, Volodymyr Bondar. The Kiev city prosecutor's office charges him with abuse of office inflicting losses of 20m dollars on the state. Bondar himself…
Ex-Im Bank signs MOU with Iranian bank
IRAN - The Export-Import Bank of Korea (Ex-Im Bank) has signed a 500-million-dollar deal with the Central Bank of Iran that would facilitate trade between the two countries.
World Bank-IMF annual meet curtailed
US - The 2001 annual meetings of the World Bank and the International Monetary Fund (IMF), which were scheduled to be held in Washington between 27 September and 3 October, have been curtailed and will now be held for just two days, 29 September and 30.
French drop hope of replacing Duisenberg
GERMANY - France is apparently abandoning its hopes of replacing Dutch European Central Bank President Wim Duisenberg with a French president in 2002, when half of his eight-year term will be up, reports Der Spiegel.
BOC governor Dodge wins guarded approval
ARTICLE - After six months on the job, Bank of Canada Governor David Dodge has secured solid, if somewhat tentative, approval ratings from Canada's central bank watchers.
World Bank optimistic on Russian reforms
RUSSIA - The World Bank's chief economist for Russia said he was cautiously optimistic about the outlook for the country, but banking reform and economic diversification were key tasks ahead.
C Bank of Brazil to cut number of market dealers
BRAZIL - The Central Bank has decided to reduce the number of its dealers (banks licensed to act for the Central Bank in the market) from 25 to 22, said bank director Sergio Goldenstein.
Japanese regulator punishes Citibank
JAPAN - The Japanese branch of Citibank, a part of Citigroup, the world's largest financial services company, has been punished by Japan's financial services agency, the country's chief financial regulator, for illegally helping clients to conceal losses.
RBI pulls up IFCI for poor supervision
INDIA - The Reserve Bank of India has come down heavily on the Industrial Finance Corporation of India (IFCI) for poor supervision of its loan portfolio, lack of proper asset liability management (ALM), rollover of sticky accounts and improper asset…
Turkmenistan leader slams central bank chief
TURKMENISTAN - At a government meeting on 6 August, Turkmen President Saparmyrat Niyazov harshly criticized the head of the Central Bank for failing to prevent embezzlement of state funds and for using his position to promote people without merit.