Regulation
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.
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.