Central Banking
HSBC set to go online in China
CHINA - HSBC on Monday became the second foreign bank after Hong Kong's Bank of East Asia to receive a licence to begin online banking in China.
India's for ex reserves up $500m
INDIA - The country's forex reserves have surged by $500 million to touch $62.521 billion for the week ended September 20, 2002, as compared to $ 62.021 billion in the previous week, figures released by the Reserve Bank of India show.
Yugoslav bank chief says citizens want reforms
YUGOSLAVIA - People who brought about changes in Serbia on 5 October 2000 still have a majority in Serbia; generally, this is good news for reforms, Mladjan Dinkic, governor of the National Bank of Yugoslavia (NBJ), stated Tuesday.
Israel's for ex reserve drop for 3rd month running
ISRAEL - Israel's foreign currency reserves dropped in September for the third month running, the Bank of Israel said today.
Improved competitiveness needed in Africa- Mboweni
SOUTH AFRICA - Reserve Bank Governor Tito Mboweni says the world economy of the 21st century dictates that improved competitiveness is fundamental to overcoming the socio-economic problems facing Africa.
MAS unveils new rules to stop terrorist financing
SINGAPORE - The Monetary Authority of Singapore (MAS) has unveiled new rules aimed at choking the flow of funds for terrorist groups.
Malta's Monetary Policy Advisory Council set up
MALTA - Following the entry into force on 1 October 2002 of the amendments to the Central Bank of Malta Act, the Monetary Policy Advisory Council has been constituted under the provisions of the same Act. This Council is responsible to advise the…
Tankan poll shows economic recovery slowing
JAPAN - Japan's economic recovery slowed over the July-September period, the Tankan quarterly survey on business confidence released Tuesday by the Bank of Japan (BOJ) has shown.
Brown rebuked for slow appointment of BofE's Large
UK - Gordon Brown's failure to appoint a new deputy governor to the Bank of England before the old one left earned a rebuke Monday from a parliament inquiry.
Speech by T P Naranubala, Bank of Thailand, 19 Sep
SPEECH - In the speech titled 'How to create a stable financial environment in emerging market economies' Naranubala said that emerging market economies and stable financial environment do not always go hand in hand. They are invariably at some points in…
Speech by B Gunnarsson, Bank of Iceland, 13 Sep
SPEECH - In a speech titled 'Iceland in a Global Setting' Gunnarsson said Iceland has followed the path of many countries, including the Nordic Countries, in liberalising its economy, both internally and externally. The economy has been exposed to market…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Andrew Large became the latest member of the Bank of England's Monetary Policy Committee (MPC) to be quizzed by the panel of UK politicians which make up the Treasury Committee on Monday 23 September. In today's Special Report we ask…
Speech by 2nd Minister for Finance, MAS, 23 Jul
SPEECH - In the speech the Minister for Health and Second Minister for Finance said the banking industry in Singapore has introduced new technologies to improve this cheque clearing process. He gives an example of this is the magnetic-ink character…
Reserve Bank of New Zealand Bulletin, September
REPORT - The Reserve Bank of New Zealand on Monday released the September 2002 issue of their Bulletin. This issue of the Bulletin explores aspects of the two core objectives of modern central banks - price stability and financial system stability.
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on 26 September released the minutes of its FOMC meeting of 13 August. All the members indicated that they could accept, and most said they preferred, a proposal to shift the Committee's assessment of the risks to the…
GCC central bank & monetary union - How realistic?
ARTICLE - The year is 2010. A young Harvard-educated Saudi, Khalid Al-Ibrahim, has just been named the first president of the new Gulf Central Bank (GCB). He is assisted by a board of directors comprising five other members, mostly former central bankers…
Cen bank of Korea, Japan, China to meet regularly
KOREA - The central bank governors of South Korea, China and Japan have agreed to hold their first regular meeting in Beijing next spring in order to enhance economic ties.
Russian central bank head expects same reserves
RUSSIA - Russia's gold and foreign exchange reserves will close this year at the same level they are at now, Central Bank chairman Sergei Ignatyev said on Monday.
Fed's McTeer: Faster economic growth 'essential'
US - Federal Reserve Bank of Dallas President Robert McTeer, who pushed unsuccessfully for lower interest rates at a Fed policy meeting last week, said on Monday it was essential for the U.S. economy to grow faster.
Banks must improve for new Sept 11-Swiss Nat Bank
SWITZERLAND - Financial institutions must take possibly costly steps to improve the global banking system's ability to handle another event like the September 11 attacks on the United States, a top central banker said on Monday.
Plastic Rs 500-notes coming soon in India
INDIA - Plastic money will soon gain currency in India. Currency notes, printed on a special, thin PVC (poly vinyl chloride) film, are likely to replace their paper counterparts from 2003.
Chicago Fed national activity index drops in Aug
US - The Federal Reserve Bank of Chicago said on Monday its National Activity Index fell in August to its lowest level since December 2001, dragged down by weakness in production and employment data.
NY Fed's McDonough says Brazil should be fine
US - New York Federal Reserve President William McDonough said on Monday that the crisis of confidence in Brazil would likely turn out all right.
Monetary Hawks and Doves
ARTICLE - In an article from the Ludwig von Mises Institute Mark Thornton, a senior fellow of the Mises Institute, suggests that differences occur in the propensity for Fed governors to be given the tag of either dove or hawk on their FOMC voting habits…