Regulation

MAS issues insider trading law for consultation

Singapore revealed changes to insider trading laws that will penalize anyone who trades on the insider information regardless of whether the accused has any links to the company. The Monetary Authority of Singapore, the markets regulator and central bank…

Mauritanian govt reshuffled, new cbank governor

The Mauritanian president decreed a partial government reshuffle on Jan. 28, 2001, in which the central bank governor, Mohfoudh Ould Mohamed Ali, was appointed finance minister. According to Mauritanian TV on the night of Jan. 28, the new central bank…

Egypt money market authority on falling shares

Commenting on the fall in stock prices during the year 2000, an Egyptian official has said that despite the decline, bills and bonds portfolios had achieved a substantial growth rate. He explained that stock prices had fallen because of the negative…

Cyprus angered at Yugo claim on Milosevic cash

One-time Serbian ally Cyprus on Jan. 26 angrily rejected assertions that it was not co-operating with inquiries to track down funds siphoned overseas by former Yugoslav president Slobodan Milosevic.Cypriot Foreign Minister Ioannis Cassoulides said he had…

Bank of Thailand, TRT at loggerheads on bank rules

The Bank of Thailand (BOT) insists that it will not lower the minimum average-weighted capital-adequacy ratio which financial institutions are required to maintain - currently 8.5 per cent of risk assets - even though the incoming government is calling…

Buba repeats it opposes single financial watchdog

The Bundesbank on Jan. 25 reiterated its opposition to Finance Ministry plans to strip it of its banking oversight functions and to bundle all financial system supervision in one federal institution. The central bank said in a statement it was not…

Thai banks surge on provision rules relaxation

Thai bank shares rose sharply in heavy volume on Jan. 25 on buying by local and foreign investors who decided a recent relaxation of rules over the accounting of loan loss provisions was good for the sector, analysts said. The Bank of Thailand earlier…

BoJ Gov dismissed worries over financial stability

Bank of Japan Governor Masaru Hayami has downplayed concerns that the country's financial stability could be put at risk by falling stock prices. Speaking on Jan. 25 at the Upper House audit committee, the central bank chief said, "there is no need to be…

Yugoslavia to issue few licences to foreign banks

Yugoslavia's central bank saidon Jan. 25 it would issue only a few licenses to foreign bankswhile others would have to buy into existing ones, as part ofefforts to turn around the massively indebted sector."The National Bank of Yugoslavia will issue a…

M&A Bank attracts attention of Austrian regulator

Unconfirmed reports suggest that the Austrian finance supervisory authority has decided to bring forward a routine inspection of M&A Bank, a Vienna-based institution specialising in managing the assets of wealthy private customers. M&A Bank has attracted…

Paramonova-CBR far from saying bank system is well

"The Central Bank of Russia is far from saying the national banking system is well", CBR First Deputy President, Tatyana Paramonova has said. As she spoke at a meeting of Russian and Israeli businessmen in Moscow on Jan. 24, 2000, Paramonova said that a…

Bank of Russia forms internet regulation division

In preparation for regulating banking operations on the Internet, the Bank of Russia has created a special division within its department for monitoring banks. Bankers have greeted this news enthusiastically, with the hope that the new division will…

IBRA - BII,BK Universial May need fresh capital

Indonesian Bank Restructuring Agency Chairman Edwin Gerungan said two nationalized banks may need fresh funds before year-end to ensure their capital adequacy remains within international standards. Edwin said another alternative for PT Bank…

IMF concludes Article IV consultation with Panama

On Jan 22, 2001 the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Panama. Below is the Public Information Notice issued by the IMF. The IMF points out the slowing growth rate of Panana, but recognise…

RBI outlines universal banking roadmap

The Reserve Bank of India has warned against any dilution of prudential and supervisory norms for banking business, while suggesting a consolidated approach towards supervision and regulation.

Putin says cbank needs to pick up pace of reform

President Vladimir Putin said Dec 29 Russia needs to reform its moribund banks, and he criticized the central bank for failing to develop the banking system. The International Monetary Fund and other foreign lenders have long urged Russia to overhaul its…

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