Central Banking
Malta's Bonello on the cb & financial stability
In a speech on 'The Central Bank of Malta and financial stability' given on 13 September, Michael Bonello of the Central Bank of Malta said there are clearly several good reasons why sound regulatory and oversight practices remain vital for the stability…
ECB's Trichet sees 'gradual' economic recovery
European Central Bank president Jean-Claude Trichet said in an interview published on Monday 11 October that the economic recovery in the eurozone has remained gradual and that the central bank's analysis of the situation was balanced.
Current level of euro not a problem: EU's Almunia
Speaking at a European Commission conference on the euro, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said on Monday 11 October that the current level of the euro against the dollar is not a problem.
Fed's Stern says data won't change Fed tack
Minneapolis Federal Reserve President Gary Stern said on Friday 8 October in an interview that the weaker than expected gains in the labour market are not enough to change the Fed's plan to gradually raise interest rates.
RBI spells out centralised cheque clearing system
The Reserve Bank of India (RBI) has detailed plans to set up a centralised clearing house system to provide an interface for image based inter-bank cheque truncation between presenting and drawee banks.
Canada's Dodge on global economic developments
In a speech on 'Global Economic Developments and the Implications for Ontario' given on 7 October, David Dodge of the Bank of Canada said Canadian capital and financial markets need to become more efficient.
Fed's Bernanke on cb talk and monetary policy
In a speech on 'Central Bank Talk and Monetary Policy' given on 7 October, Ben Bernanke of the Federal Reserve said the Federal Reserve should take additional steps to be more transparent because monetary policy is more effective when the Fed gives the…
Fed's Greenspan on monetary policy after Oct 1979
In a speech on 'Monetary policy twenty-five years after October 1979' given on 7 October, Federal Reserve chairman Alan Greenspan praised former central bank chief Paul Volcker's "decisive action" against rising prices at a landmark meeting of the…
PBOC's Xiaochuan on anti-money laundering in China
In a speech on 'Anti-money laundering in China - the status quo and prospects' given on 27 August, Zhou Xiaochuan of the People's Bank of China said despite some achievements attained in China's anti-money laundering (AML) work, we are still facing very…
Inaugural speech by Argentina's Redrado
In a speech to his staff on 24 September, the new Governor of the Central Bank of Argentina, Martin Redrado, said he aims at creating and developing new challenges. He said his goals include consolidating the value of the peso as a clear value reserve…
Fed could pause on weak data says McTeer
Dallas Fed President Robert McTeer said on Thursday 7 October that the Federal Reserve's decisions to raise short-term interest rates will depend on incoming economic data for the US.
Canada's exchange rate 'source of uncertainty'
Bank of Canada Deputy Governor Sheryl Kennedy said in a speech on Thursday 8 October that the central bank views the exchange rate as a "source of uncertainty" when forecasting economic growth.
Buba's Stark sees risk to growth from oil price
Bundesbank Vice-President Juergen Stark has said in an interview that record oil prices pose a greater risk to the euro region's economic growth prospects than they do to inflation.
Growth impact from oil 'modest' says Fed's Hoenig
Record oil prices will only have a moderate impact on U.S. growth which looks set for a solid performance over the next 18 months, Federal Reserve Bank of Kansas City President Thomas Hoenig said on Wednesday 6 October .
BMA deputy governor to step down
Bahrain Monetary Agency (BMA) Deputy Governor Khalid Al Bassam will step down at the end of the year after more than 15 years with the central bank.
ECB's 'gouverning council'
Who said the English language was taking over Europe? The European Central Bank's governing council met in Brussels yesterday, instead of Frankfurt. The bank always works in English but, according to the FT's observer column, the sign above ECB president…
Trichet note change sparks forgery claims
Berlin police have reassured citizens worried about an unfamiliar signature on their new euro notes that the money is genuine, news agencies report.
Euro or euras?
Algirdas Brazauskas, the Lithuanian prime minister, has criticised the EU's demand that the single currency be called the euro, not the euras, as it is known in Vilnius.
Almunia says ECB views on pact 'important'
EU economic and monetary affairs commissioner Joaquin Almunia told the European Parliament the European Central Bank's views on plans to reform the stability and growth pact are "very important", but ultimately it is member states who will vote on the…
Resolving large financial intermediaries: Update
In this updated article, the authors examine issues surrounding the possible failure of Fannie Mae or Freddie Mac. Finding parallels between resolving insolvent large banks and insolvent housing enterprises, the authors suggest improvements to the…
What's missing at Asian central banks? Credibility
This article argues that Asia lacks a central banker with the clout enjoyed by the Federal Reserve chairman or the ECB president. This lack of credibility exists because of their aggressive manipulation of currency rates, their spotty histories of…
Sri Lanka's Mendis on financial IT
In the speech 'A brief look at financial information technology' given on 8 September Sunil Mendis of the Central Bank of Sri Lanka said that in a market driven financial system, for information to be effective, there should be two vital ingredients,…
Philadelphia Fed Business Review, 3rd Quarter 2004
The Federal Reserve Bank of Philadelphia has published its regular Business Review for the Third Quarter 2004. In this issue President Santomero talks about 'Banking in the 21st Century'. There is also an article 'Managing the Recovery in Uncertain Times…
Fed's Ferguson on the personal saving rate
In a speech on 'Questions and reflections on the personal saving rate' given on 6 October, Roger Ferguson of the Federal Reserve said the large US current account deficit brings with it risks that a sharp adjustment in overseas demand for US assets could…