Regulation
Former BI governor interviewed over graft case
According to a report in the Jakata Post, former Bank Indonesia (BI) governor Adrianus Mooy was interviewed by the Indonesian Attorney General on Monday 1 May over a graft case involving state-owned investment company PT Bahana Pembinaan Usaha Indonesia …
IMF reinvents itself - latest
At their Spring annual meetings in Washington DC, the IMF has released a paper "The IMF in the Process of Change" on the Fund's progress in reinventing itself as a financial sector crisis manager.
Cross-sector financial disclosure (update)
An international regulatory working group has released a set of guidelines to prompt all financial institutions to reveal more information about the risks they are running.
Financial Regulation in South Africa 2000
Book - The South African Reserve Bank has published a book on the theory and practice, goals, trends, and instruments of financial regulation. It is titled "Financial Regulation in South Africa 2000" and is co-authored by Hans Falkena, Roy Bamber, David…
HKMA gets green light on HK deposit insurance
HONG KONG - Hong Kong's Executive Council has approved in principle a deposit insurance scheme proposal aimed at protecting depositors in the case of bank failures, the Hong Kong Monetary Authority said on Apr 24.
Ageing and financial stability
ARTICLE - Population ageing might involve major shifts in financing, which may give rise to financial turbulence and systemic risk. Philip Davis, professor of economics at Brunel University, has prepared a paper on this subject for a Bundesbank…
India's c.bank sets stiffer bank investment norms
INDIA - The Reserve Bank of India said on Apr 23 it had set more stringent guidelines for banks' exposures to the stock market following recommendations made by an expert panel.
China's cbank drafts e-banking regulations
CHINA - China's central bank is drafting regulations concerning e-banking and guidelines for e-banking risk management, which are expected to be promulgated soon, a top bank official announced.
Caruana warns savings banks over shareholdings
SPAIN - the Bank of Spain governor Jaime Caruana on Apr 18 warned the annual assembly of savings banks that being stable shareholders in industrial companies, with influence on the management, could conflict with their status and objectives.
Chile central bank eliminates 'encaje' rule
CHILE - Chile's Central Bank on Apr 16 eliminated its "encaje" rule, which requires foreign investors to deposit an amount equivalent to a percentage of their investments with the central bank at no interest.
RBA supervises credit card payment systems
AUSTRALA - The Reserve Bank of Australia took supervisory control of Australian credit card service fees on Apr 12, putting under threat A$600 million in fees the banks earn from Bankcard, MasterCard and VISA schemes.
Malaysia Citibank's Noorazman to head LOFSA
MALAYSIA - Citibank's vice-president Noorazman Abdul Aziz has been appointed the new director-general of Labuan Offshore Financial Service Authority, or LOFSA, replacing Mohd Razif Abdul Kadir.
Eichel sets out vision for financial regulation
GERMANY - The German finance ministry unveiled on Apr 11 draft legislation to shake up the structure of the country's central bank and supervisory agencies in response to the arrival of the euro and changes in financial markets.
Parliament re-elects BNB vice governor
BULGARIA - The Bulgarian parliament reelected Emilia Milanova as vice governor of the central bank in charge of banking supervision.
Clementi-Basel Accord must avoid pro-cyclicality
UNITED KINGDOM - The world's banks and the financial system as a whole should make sure risk-sensitive capital requirements set out in the new Basel Accord don't aggravate cyclical economic downturns, Bank of England deputy governor David Clementi said…
Ex-central bank official to lead Ito-Yokado bank
JAPAN - Ito-Yokado Co Ltd, Japan's biggest retail group, said on Apr 10 it would appoint central bank veteran Takashi Anzai, 59, as president of its new IY Bank.
Best practice-monitoring financial stability risks
CENTRAL BANK RESEARCH - The Bank for International Settlements has published a new book "Marrying the macro- and microprudential dimensions of financial stability" which is contributed to by senior central bankers from all round the world and looks at…
BIS Stability Forum's 'to do list'
ARTICLE - The Financial Stability Fourm (FSF), following its meeting on 22/23 March in Washington DC, has released a paper revealing the progress of dozens of initiatives now underway to bolster financial system soundness.
HK to fully deregulate interest rates in July 2001
HONG KONG - The Hong Kong Monetary Authority said Apr 9, 2001 the territory's interest rates will be fully liberalized when the deregulation that covers Hong Kong dollar savings and current accounts goes ahead as scheduled July 3.
Financial education should begin early-Greenspan
UNITED STATES - Consumers should become familiar with the basics of personal finance at a relatively young age, Federal Reserve Chairman Alan Greenspan said on Apr 6 in remarks that did not touch on the U.S. economy or monetary policy.
Low inflation: Implications for the FSA
RESEARCH - Ed Harley and Stephen Davies from the UK's Financial Services Authority have written a paper which considers the risks to the FSA's objectives arising from the move to the current low inflation environment in the UK. The authors conclude that…
Euro-area banking at the crossroads-IMF paper
RESEARCH - This IMF working paper by the European I department looks at the institutional arrangements for euro-area banking supervision. The authors endorse stronger cross-border coordination among supervisory authorities but notes that more formal…
Ecuador appoints Davila as top bank supervisor
ECUADOR - Ecuador's Congress ended a nearly five-month search for a banking superintendent on Apr 5, appointing former central bank head Miguel Davila to the post after rejecting several other candidates.
Slovakia approves central bank law amendment
SLOVAKIA - The Slovak parliament said on Apr 6 it had approved an amendment to the law on the central bank, aimed at harmonising the act with the European Union legislation.