Regulation
Cuban bank to stop services to 'deadbeat'companies
CUBA - The Cuban Central Bank plans to suspend banking services to deadbeat Cuban companies effective in January 2002, a bank spokesman said.
IMF Fischer stresses Turkey econ program on track
US - The International Monetary Fund signalled the beginning of a new public relations campaign to relieve market pressure on Turkey 13 July, with the Fund's second-ranked executive declaring investors aren't giving Ankara enough credit for the reforms…
Y V Reddy: International Financial Standards
SPEECH - Public lecture by Dr Y V Reddy, Deputy Governor of the Reserve Bank of India, at the Centre for Banking Studies of the Central Bank of Sri Lanka, Colombo, 28 June.
Swiss Nat Bank supports draft of central bank law
SWITZERLAND - The Swiss National Bank 13 July gave its support to the draft of a new law governing the central bank.
Russian duma gives easy passage to currency law
RUSSIA - Russia's parliament on 13 July supported President Vladimir Putin's plan to liberalise currency controls, ignoring a central bank request to postpone approval until the autumn.
Bank directors told to undergo training
PHILIPPINES - The Bangko Sentral has expanded its "fit and proper" rule for bank officers and directors by requiring all appointees to banks' boards to undergo mandatory training in "good corporate governance".
Mon council member resigns at new central bank act
HUNGARY - Professor Janos Kornai, one of Hungary's most prominent economists, has announced his resignation from his position on the monetary council of the National Bank of Hungary (MNB).
Second banker in month nominated to Fed board
US - President Bush announced 10 July that he will nominate former community banker and Senate Banking Committee aide Mark Olson to the Federal Reserve Board.
NZ central bk seeks additional mon policy advisors
NEW ZEALAND - The Reserve Bank of New Zealand on 11 July placed advertisements in local newspapers for one or two recruits to provide additional monetary policy advice to the central bank.
French to ease cash deposit laws
FRANCE - The French parliament looks set to adopt a law that eases the responsibility of banks for reporting large cash deposits during the introduction of euro notes and coins.
Reserve Bank of Malawi must have greater autonomy
MALAWI - Economists in the country have called on the government to leave the country's Central Bank, the Reserve Bank of Malawi (RBM) alone saying that creating the independence of the bank would benefit the whole nation.
CBR makes life easier for capital exporters
RUSSIA - On 5 July, the Central Bank of Russia established a new procedure for making direct investments in the economies of CIS countries.
Sharon backs Klein and an independent Central Bank
ISRAEL - Prime Minister Ariel Sharon has published a statement on 9 July expressing support for maintaining the independence of the Bank of Israel and for Governor David Klein, Ha'aretz reports.
Nepal to let foreigners have majority bank stakes
NEPAL - Nepal announced on 10 July it would let foreign players hold majority stakes in joint venture banks as part of a drive to open up its banking sector to outsiders.
Extra year for the new Basel plans
ARTICLE - The Economist magazine in London published an article in its 30 June edition suggesting that the postponement of the new Basel capital accord was a relief, but not a surprise.
Regulator to study Brazil comparative rate system
CHILE - Chilean banking authorities will study the implementation of the Brazilian Central Bank's comparative interest rate system with a view to boosting transparency and competition in the loan market, Chile's chief banking regulator Enrique Marshall…
Liberal rules for S-type accounts in force, Russia
RUSSIA - The Central Bank of Russia has drafted a number of instructions aimed at liberalising rules for S-type accounts, in which foreign investors must keep rubles received from redemption of government bonds that were frozen after the 1998 financial…
Promoting financial stability in New Zealand
SPEECH - Recently published transcript of an Address by Dr Don Brash, Governor of the Reserve Bank of New Zealand to the Conference for Commonwealth Central Banks on Corporate Governance for the Banking Sector, London, 6 June.
No trial operations approved for banks in China
CHINA - China's central bank said on 2 July it has not approved any trial operations of new private banks and declared such moves illegal, contradicting a media report last week that some trials were well progressed.
Thai's signal looser bank regulation
THAILAND - The FT, London on 5 July reports that Pridiyathorn Devakula, Thailand's new central bank governor, has appeared to signal a shift in attitude towards regulating the country's fragile commercial banks, saying banks should start lending again…
EU assembly repeat call for ECB to publish minutes
EUROPE - The European Parliament approved a resolution on 4 July backing the European Central Bank's 2000 annual report and repeating its call for the publication of ECB minutes, officials said.
Reflections on Globalization, Spain, and the IMF
SPEECH - Eduardo Aninat, Deputy Managing Director, International Monetary Fund spoke at the General Meeting of ELKARGI, San Sebastian, Spain, 29 June.
Ernst Welteke: Trends in international banking
SPEECH - Address by Ernst Welteke, President of the Deutsche Bundesbank, at the International Arab Banking Summit held in Frankfurt, 19 June.
National Bank of NZ names chief economist
NEW ZEALAND - The Reserve Bank of New Zealand has appointed John McDermott as its new chief economist. He will start his new assignment on 20 August.