Regulation
EC put pressure on Germany's Landesbank reform
The following is an article from The Economist magazine entitled "Under pressure from the European Commission, Germany's public-sector banks are thinking openly about reforming themselves."
Secrecy off for deposits above P50M in Philippines
Scoring a crucial victory against money laundering, the House of Representatives has given the Bangko Sentral the power to examine suspicious deposit accounts more than P50 million under the proposed Revised Central Bank Act.
Milosevic bank delivers secrets of corrupt regime
Beogradska Banka funded the Yugoslav dictator's cronies and paid off potential foes. Irena Guzelova in this article reprinted from The Financial Times glimpses the dealings.
Open Society: Reforming Global Capitalism - Soros
Although the markets remain obsessed with his investment strategies, George Soros says his energies over much of the past decade have been focused elsewhere. Over the past four years, his charitable foundations have spent something like $2 billion in…
NBS approves draft bank law, 2001 money programme
The board of the National Bank of Slovakia today approved the monetary programme for next year and the draft law on banks which is designed to bring Slovak banking closer to the EU rules, Jan Onda, spokesman for the NBS, said to reporters.
Prevention, mgmt of financial crises - David Klein
The follow are the prepared remarks by Bank of Israel governor Dr David Klein fpr a meeting on Finance and Development.
Fund seeks its own watchdog
The International Monetary Fund's Executive Board has named Ray & Berndstson, a US-based international executive search firm, to identify candidates for the position of Director of the IMF's newly created independent Evaluation Office.
Buba says many points in Basel Accord unresolved
Germany's Bundesbank said on Thursday regulators had left many points unresolved after meeting in New York this week to review changes to the Basel Accord on global banking regulations.
Lithuanian and Polish cbanks sign supervisory deal
Governors of the central banks of Poland and Lithuania on Thursday signed an agreement to facilitate banking supervision between the two countries.
Italy govt bides time over court bank-loan ruling
Italian Treasury minister Vincenzo Visco said on Thursday the government had yet to decide what action to take after the Supreme Court ruled banks should refund loan interest payments amounting to billions of euros.
UK supervisor warns banks over telecom exposure
Britain's financial regulator on Thursday intensified pressure on banks to display vigilance in managing their multi-billion dollar exposure to the telecom sector.
Netherlands: Discord over bourse policing
Supervisors of financial institutions in the Netherlands disagree over the division of tasks over the control of share trading. The conflict centres on the role of the Dutch securities board with regard to institutions which fall under one of the other…
HKMA seeks right to approve senior bank staff
Hong Kong's quasi-central bank Monday proposed a regulatory change which would give it the power to approve the appointment of senior management at the city's banks.
Ex-Greenland staff sue Bank of Uganda
Four hundred and eight former employees of Greenland Bank have sued the Bank of Uganda and their former employer for non-payment of gratuity, pension and terminal benefits.
Credit Suisse face Abacha money laundering probe
Switzerland's banking regulator said Wednesday that it filed a formal complaint against Credit Suisse Group over its acceptance of millions of dollars linked to the late Nigerian dictator General Sani Abacha.
IMF offers $10bn to ease Turkish banking crisis
The International Monetary Fund said it will provide more than $10 billion in financial support for Turkey to help ease a sharp liquidity crisis that has sent the country's interest rates soaring and depleted central bank reserves.
Ecuadorian colonel says lift bank secrecy veil
Former Colonel Lucio Gutierrez, who led the January coup that removed President Jamil Mahuad from office, called on the Ecuadorian government to lift the bank secrecy act and reveal the names of the beneficiaries of the March 1999 bank holiday decreed by…
Cyprus denies Milosevic money laundering claims
The Cyprus government has fended off press allegations that money belonging to the former Yugoslav President Slobodan Milosevic has been laundered through Cyprus-based banks.
Belgium seeks financial market regulatory reform
Belgian Finance Minister Didier Reynders proposed on Tuesday a reform of the country's financial market regulatory system which would strengthen the power of government regulators and harmonise oversight of stock exchanges.
BOT says government must focus on FIDF losses
The Bank of Thialand said yesterday the priority of the new government is to seek viable ways of repaying losses incurred by the Financial Institutions Development Fund.
Bank of Zambia wants business plans from banks
Commercial banks in Zambia will, effective next year, be required to submit yearly business strategic plans to the central bank.
China's regulators approve five foreign auditors
Five auditing companies with foreign partners have been included in a list of firms approved by China's regulators to conduct financial audits, People's Bank of China said Tuesday.
Yugo banks told to prepare for international audit
Yugoslavia's central bank told commercial banks on Wednesday to prepare for international auditors as monetary authorities tried to assess the banking sector ahead of planned reform.
Pakistan banks told to double capital base by 2003
Pakistan has told banks to double their minimum paid-up capital to one billion rupees ($17.2 million) by the start of 2003.