Central Banking
HKMA's Topping on latest perspective on Basel II
Speech by Simon Topping, Executive Director, Banking Policy, Hong Kong Monetary Authority at the City University of Hong Kong Professional Seminar on Latest Perspective on Basel II, 19 July 2004.
SARB Bank Supervision Dep't Annual Report 2003
The South African Reserve Bank on 15 July published its Bank Supervision Department Annual Report for the year ended 2003. The year was somewhat less turbulent for the South African financial system and banking sector than the preceding two years, the…
Deutsche Bundesbank Monthly Report, June 2004
The Deutsche Bundesbank has published the English version of its June 2004 monthly report. The discernible upturn in the economy during the second half of 2003 became somewhat stronger in the first quarter of this year, the report said.
Bank of Canada keeps interest rates unchanged
The Bank of Canada announced on Tuesday 20 July that it is maintaining its target for the overnight rate at 2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 1/4 per cent, the bank said in a press release.
Minehan sees US inflation rise as temporary
Federal Reserve Bank of Boston president Cathy Minehan said on Monday 19 July that disappointing economic data in June was likely to be temporary and the recovery is now self-sustaining.
Serbian central bank governor to visit Sarajevo
Serbian National Bank governor Radovan Jelasic is scheduled to visit the Bosnia-Hercegovina Central Bank on Wednesday, 21 July.
Measured rate rises appropriate says Fed's Stern
Minneapolis Fed President Gary Stern said on Monday 19 July that the US economy is on track for solid growth and the Federal Reserve still intends to raise interest rates at a moderate pace.
EU Commission says EMU has brought stability
The European Commission has said in a report that the first five years of economic and monetary union have resulted in economic stability, but not sustained growth.
Retired bank grandees face grilling in BCCI trial
Monday 19 July marks the first day of the Bank of England's defence in the BCCI court case. The final judgement could still be two years away. Special CentralBankNet report.
MAS's Palmer on Basel II and beyond
In a speech on 'Basel II and beyond' given on 12 July, John Palmer of the Monetary Authority of Singapore said we should not look at the release of the final version of Basel II as the end of the process to set more risk-sensitive capital adequacy…
PBOC's Ning on China's economic development
In a speech on 'China's economic development and the current macroeconomic policy' given on 9 June, Su Ning of the PBOC said China's exchange rate reform is still underway. In light of China's current stage of economic development, performance of the…
Central Bank of Turkey - Annual Report 2003
The Central Bank of Turkey has published its Annual Report for the year ended 2003. Although the formation of a new Government partially alleviated the domestic political uncertainties, the worries over the Iraqi operation in March 2003 and the…
Fed's Bies on risk management
In a speech on 'Using Enterprise-wide Risk Management to Effectively Execute Business Strategies' given on 16 July, Susan Schmidt Bies of the Federal Reserve said credit cards and bank overdraft protection are drawing the attention of regulators because…
Chicago Fed Letter, August 2004
The latest edition of the Chicago Fed Letter for August 2004, titled 'Economy to continue cruising along,' says the outlook for 2004 is for the US economy to have its best growth in seven years, growing at a rate above potential, and leading to a fall in…
Bundesbank reports German economy picking up
Growth of the German economy, the biggest in the euro zone, is likely to have outpaced the first-quarter rate of 0.4% in the second quarter of the current year, the Bundesbank said on Monday 19 July.
OECD urges Japan to keep up regulatory reform
Regulatory reform is already well under way in Japan but should be continued and strengthened if Japan is to reap all the opportunities of its current recovery, according to a new OECD report.
Court hears BCCI claims 'implausible'
Lawyers for the Bank of England said on Monday 19 July that allegations that 22 of its officials acted with dishonesty when they allowed Bank of Credit and Commerce International SA to operate in the UK are "fundamentally implausible."
OECD chief to visit Japan and discuss economy
The secretary general of the Organization for Economic Cooperation and Development, Donald Johnston, will start a five-day visit to Japan on Tuesday 20 July for talks with Cabinet ministers and business leaders on issues such as Japanese economy and…
Erkki Liikanen takes up post at Bank of Finland
Erkki Liikanen took up the post of the Bank of Finland's new Governor and Chairman of the Board on Monday 12 July. His term of office is seven years, and the same person may assume office for two terms.
New Chief Economist appointed in Iceland
The Board of Governors of the Central Bank of Iceland has appointed Arnor Sighvatsson Chief Economist and Director of the Economics Department, effective from 23 June.
Bank of Canada appoints Special Adviser
The Bank of Canada announced the appointment of Professor Christopher Ragan to the position of Special Adviser during the year 2004-2005 this week. Professor Ragan, whose areas of interest include government debt, inflation, monetary policy, and exchange…
Jordan appoints new deputy governor
During its weekly session on Tuesday 13 July, the Jordanian Cabinet decided to appoint Sharif Faris Abdul Hamid Sharaf as deputy governor of the Central Bank of Jordan (CBJ) succeeding Saleh Tayeh who had earlier submitted his resignation, the Jordan…
New board game in Argentina aims to beat the IMF
A new board game called 'Eternal Debt' is keeping people in Argentina busy at the moment. The point of the game is to try to beat the International Monetary Fund (IMF) by accumulating the least debt. The game is subtitled 'Who can beat the IMF?' and it…
Khodorkovsky wants Gerashchenko off Yukos board
Former Yukos CEO Mikhail Khodorkovsky plans to request the company shareholders consider dismissing former chairman of the central bank of Russia, Viktor Gerashchenko, from his post of chairman of the company's board of directors, Khodorkovsky's lawyer…