Regulation
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.
Bank of Italy calls for action on usury ruling
Italy's central bank called for the government to take urgent action to soften the impact of a court ruling that could force banks to pay as much as 50 trillion lire to consumers who paid too much interest on home loans.
Zeti gives Dec. 31 as deadline for bank mergers
Bank Negara governor, Datuk Dr Zeti Akhtar Aziz said today that the December 31 deadline for bank mergers remained unchanged.
Italy govt prepares to defuse bank loan crisis
Italy's government on Tuesday prepared to defuse a potential crisis threatening the country's banks, which may have to refund customers huge amounts of loan interest payments after a Supreme Court ruling.
House okays new Philippines Central Bank Act
The Philippines House of Representatives approved on second reading Tuesday evening, a measure introducing amendments to the Central Bank Act. Representatives said the new Central Bank Act would improve the Bangko Sentral's effectiveness and strengthen…
Indonesia to issue fresh bonds to help banks
Indonesia will issue new bank bail out bonds with higher interest rates next week in the hope of kick-starting a secondary bond market and resurrecting their $68.8 billion banking rescue effort.
Lithuanian central bank reprimands Vilniaus Bank
Lithuania's central bank said on Thursday it was reprimanding Vilniaus Bank for failing to meet its prudential requirement but was taking no punitive action because the country's largest financial institution had remedied the situation.
Swedish financial system remains stable - Riksbank
Sweden's financial system remains stable thanks to good profitability in the banking sector and a strong economy, the Riksbank said on Thursday.
Fed offers rule to find predatory subprime lenders
The US Federal Reserve Board proposed a rule Wednesday that could help the government identify predatory lenders.
Manila paves way for capital adequacy changes
The Philippines central bank said on Wednesday it would put in place a new credit rating mechanism for banks opting to increase capital through promissory notes instead of direct cash infusions from shareholders.
Japan regulator suggests bank limit stock sales
In an attempt to stop Japanese banks from dragging the stock market down, Hideyuki Aizawa, head of Japan's Financial Reconstruction Commission, will call on banks to restrict the sale of their stock portfolios.
Rules for credit cards loosened by Thai regulator
Applying for a credit card has become easier after the Bank of Thailand eased minimum age and salary requirements for new cardholders.
Vietnam's bad and overdue debts 11.7% of loans
Vietnam's "bad, overdue and uncollectible debts," now total 11.7% of the country's total outstanding loans, central bank governor Le Duc Thuy said Wednesday.
Vietnam clarifies rules on loan loss provisions
Vietnam's central bank has issued a regulation clarifying how commercial banks must calculate and put aside their loan loss provisions, a central bank official said Wednesday.
Kenyan parliament passes bank bill on 2nd reading
Kenya's parliament passed a controversial bill seeking to regulate commercial bank loan rates on its second reading on Wednesday, but politicians said amendments would be tabled to the bill on Thursday.
Russia needs unified supervisory rules -Motorin
According to Russia' deputy finance minister Mikhail Motorin, it is necessary to establish a supervisory system that would operate according to unified rules and control activities of the Federal Securities Commission, insurance companies, and private…
HKMA urges Hong Kong banks to go green
Hong Kong's quasi central bank Wednesday called on the city's banks to sign a United Nations environmental awareness statement, and to consider producing their own formal environmental policy statements.
UAE central bank counters money laundering
The United Arab Emirates central bank has issued a list of regulations and procedures to all financial institutions to prevent money laundering through the country's financial system.
Vietnam bank governor answers inquiries
Vietnam's state bank governor Le Duc Thuy answered inquiries of National Assembly deputies related to bad debts, restructuring the joint-stock commercial bank system, and the use of cash.
Financial crises in the emerging markets
A new paper just published by the Federal Reserve Bank of New York about financial crises in emerging markets and the role of the public and private sector.
Philippine central bank counters money laundering
The Philippine central bank said Tuesday it will create a special unit to look into possible money laundering transactions. The central bank said its policy-making monetary board authorised the special body to maintain a database of suspicious…