Central Banking
Santomero - US growth likely 'bit slower' in Q2
US - Economic growth in the second quarter is likely to be a "bit slower" than the 5.8 pct growth rate in the January-March quarter, said Anthony Santomero, the president of the Federal Reserve Bank of Philadelphia.
Speech by Fed Vice Chairman Roger Ferguson, 11 May
SPEECH - In a speech titled 'Thoughts on Success in Life' Ferguson said that the link between education and economic success is well documented and as the first black American to become Fed vice chairman, said differences in educational levels, work…
Interview with Afghanistan's central bank governor
FEATURE - The recently appointed governor of Afghanistan's central bank, Anwar Ahady, has given an exclusive interview to Central Banking journal. In it he talks of his immediate priorities and hopes for the future of the central bank and Afghanistan's…
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve Board on Thursday released the minutes of its Federal Open Market Committee Meeting of 19 March 2002, released 9 May.
Federal Reserve Board Press Release, 9 May
PRESS RELEASE - Mail processed in a secure facility outside the Federal Reserve Board buildings has tested positive for traces of anthrax DNA.
BIS Press Release
PRESS RELEASE - International Association of Deposit Insurers to locate new secretariat in Basel, 8 May.
Speech by Fed Chairman Alan Greenspan, 10 May
SPEECH - In a speech titled 'Cyclicality and Banking Regulation' to the Chicago banking conference Greenspan said it was natural for bankers to grow more cautious in their lending practices during bad times.
Bush pays tribute to US economist Milton Friedman
US - President Bush Thursday paid tribute to U.S. economist Milton Friedman. The Nobel-Prize-winner's free-market approach is central to the Bush administration's trade policy.
Ferguson - global economy robust on anti-terrorism
US - The global economy won't feel any impact from the increased cost of security and disaster-planning needed in the wake of the September 11 terrorist attacks, said Roger Ferguson, vice chairman of the Federal Reserve board.
Romanian gov't adopts money-laundering regulations
ROMANIA - The Romanian government approved the organization and functioning regulations of the National Office for Preventing and Combating Money-Laundering (ONPCSB), whose activity is structured on two operative directorates - a computerized directorate…
UK company among 3 bidders for Nigerian mint
UK - De La Rue PLC is among three foreign companies bidding for a controlling stake in Nigeria's state-run mint, the Nigerian Security Printing and Minting Co, officials said.
Brazil's Fraga says rates may be cut further
BRAZIL - Central bank chairman Arminio Fraga said he has indications that demand is falling and GDP growth is weakening in Brazil, which would justify new interest rate cuts.
UAE free of organised suspect cash activities
UAE - The UAE had detected minor money laundering operations but it is free of organised suspect cash activities as a result of direct surveillance by monetary authorities and cooperation by financial institutions, a judicial official said yesterday.
Dlamini-Zuma confirms launch of African Union
SOUTH AFRICA - The July launch in Durban of the African Union (AU) will go ahead despite contrary advice obtained from a panel of some of the continent's "eminent people", Foreign Affairs Minister Nkosazana Dlamini-Zuma said yesterday. The AU Act…
Greenspan urges banks to rely on risk management
US - Federal Reserve Chairman Alan Greenspan said Friday that commercial banks and banking regulators need to rely more on the emerging field of risk management to control loan defaults during periods of economic weakness.
Speech by Wim Duisenberg, ECB President, 8 May
SPEECH - In a speech titled 'What are the political consequences of the euro?' Duisenberg said that money is one of the most powerful symbols of a common identity and it is now shared by the 12 European countries of the eurozone.
ECB Monthly Bulletin, May 2002
REPORT - The European Central Bank published its April 2002 Monthly Bulletin on 9 May.
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 9 May.
UK interest rates kept on hold
UK - The Bank of England's monetary policy committee on Thursday voted to leave interest rates unchanged at 4 per cent, in a decision which underlined the fragility of the UK economic recovery.
Duisenberg 'stands in' for the euro at awards
GERMANY - An awards ceremony, whose previous winners include Tony Blair and Helmut Kohl, gave Wim Duisenberg a chance to prove he is not just a self-effacing, mop-haired central banker, said the FT on Thursday.
UAE central bank to sponsor global hawala meeting
UAE - The UAE Central Bank yesterday announced it is sponsoring an International Conference on Hawala to be held in Abu Dhabi on 15 and 16 May.
Central bankers testify in Russian loans trial
RUSSIA - Tatyana Paramonova, first deputy chairman of the Central Bank of Russia, and former Central Bank Chairman Viktor Gerashchenko had to appear in an unaccustomed role as witnesses at Moscow's Zamoskvoretskiy Court in a criminal case concerning…
Nigerian budget will hurt economy - Central bank
NIGERIA - The Central Bank of Nigeria (CBN) said Wednesday the country's 2002 budget would hurt the economy if it were implemented as it was passed by parliament.
Charting an ongoing evolution of e-payments
FEATURE - In her 32 years with the Federal Reserve System, Cathy E. Minehan, the president and chief executive officer of the Federal Reserve Bank of Boston, has heard plenty of talk about the paperless society.