Central Banking
Speech by Fed Reserve Governor Mark Olson, 30 Apr
SPEECH - In a speech made Tuesday titled 'Risk Management in a Changing Economic Environment' Olson said banks need to do more to clarify the risks they are taking, and regulators must begin to more closely scrutinize firms' internal audits.
Speech by David Dodge of Bank of Canada, 30 Apr
SPEECH - In a speech made Tuesday, Dodge, justifying the Canadian central bank's hiking interest rates before the U.S. Federal Reserve, said that the Canadian economy was closer to full capacity than that of the United States.
Bank of Japan Press Release
PRESS RELEASE - Monetary Policy Meeting, 30 April.
Outlook and Risk Assessment, Economy and Prices
REPORT - Outlook and Risk Assessment of the Economy and Prices, April 2002 as determined by the Policy Board at the Monetary Policy Meeting held on 30 April 2002 by the Bank of Japan.
Central bank intervention and market expectations
RESEARCH - BIS Papers No. 10 by Gabriele Galati and Will Melick, April 2002.
Olson isn't saying what banks want to hear
FEATURE - Bankers' hopes were high in December when Mark W. Olson was sworn in as a member of the Federal Reserve Board but the American Banker reports, 1 May, that Mr Olson has provided the banking industry with nothing but tough love.
Frenkel accused of claiming funds not due him
ISRAEL - Israel's state audit office said on Monday former Bank of Israel Governor Jacob Frenkel, who stepped down in 2000 after nine years in office, had claimed thousands of dollars not due to him. A spokesman for Frenkel in Tel Aviv dismissed all the…
Brash walks into storm over interest rates
NEW ZEALAND - It did not take the New Zealand opposition's latest recruit - former New Zealand Reserve Bank governor Don Brash - long to learn that the rough and tumble of politics is a different world from the rarefied atmosphere of monetary policy…
Transcript of interview with Ernst Welteke
FEATURE - The FT spoke to Ernst Welteke, president of the Deutsche Bundesbank, on his visit to London on Monday 28 April. The interview was published on Wednesday and here we reproduce it in its entirety. He was sceptical about plans to publish the…
Mexico shows signs of end to recession
MEXICO - The Bank of Mexico on Tuesday raised its forecast for the country's gross domestic product growth this year to 1.8 per cent from 1.5 per cent, apparently confirming predictions that the economy is starting to follow the US out of recession.
Bahamas victor will face depressed economy
BAHAMAS - One outcome of tomorrow's general election in the Bahamas, an important offshore financial services centre, is certain: the Atlantic archipelago will have a new prime minister, and he will be faced with a period of economic uncertainty.
Bush expected to name Fed nominees - Report
USA - U.S. President George W. Bush is expected to nominate Princeton economist Ben Bernanke and Federal Reserve official Donald Kohn to the central bank's board, sources apparently told Reuters on Tuesday. A White House spokeswoman on Tuesday declined…
China's c bank steps up supervision on e-banking
CHINA - The People's Bank of China is requiring both local and foreign commercial banks to provide quarterly reports on their online banking operations in China, a PBOC notice issued on 23 April said.
Bank of Estonia's profit smaller than last year
ESTONIA - President of the Bank of Estonia Vahur Kraft has said that last year the central bank earned an extraordinarily high profit on its foreign currency reserves, but this year would be much more modest in that respect.
European Central Bank Working Paper
RESEARCH - On currency crises and contagion ECB Working Paper No. 139, by Marcel Fratzscher, April 2002.
Korea's forged bank notes soar in 1st quarter
SOUTH KOREA - The number of attempts to use counterfeit bank notes in the first quarter of the year increased dramatically in South Korea, due mainly to easier access to computer scanners and colour photocopiers it is reported.
BofE's Clementi may become new Prudential chief
UK - David Clementi, deputy governor of the Bank of England, is favourite to become the next chairman of the Prudential Corporation reports the Sunday Telegraph, in a move that will reassure the City following last week's sudden resignation of Sir Roger…
Speech by David Clementi, Bank of England, 29 Apr
SPEECH - In a speech 'Property and the Economy' Clementi played down talk of a dangerous "bubble" similar to the late 1980s when a housing boom suddenly turned to bust.
Fed Reserve Bank of New York - Annual Report 2001
ANNUAL REPORT - The Federal Reserve Bank of New York has published its Annual Report for the year ended 2001.
Speech by the Governor, Bank of Greece, 22 Apr
SPEECH - In an introductory statement to the European Parliament Papademos conceded that an anonymous publication of the policymaking body's members' positions could enhance the transparency of ECB monetary policy and thereby provide financial markets…
European Central Bank Working Paper
RESEARCH - ECB Working Paper by Francesco Paolo Mongelli, "New" views on the optimum currency area theory: what is EMU telling us?, April 2002.
Speech by Jarle Bergo of Norges Bank, 25 Apr
SPEECH - In a speech titled 'Oil - natural resource and financial asset' Bergo asks the question "Is an abundance of natural resources really an advantage?" and says that developing countries whose most important export is oil have generally recorded…
Argentina's banks re-open to chaotic scenes
ARGENTINA - Argentina's banks and financial markets reopened on Monday after a 10-day emergency shutdown.
Fraga sees crisis in Argentina as "worrying"
BRAZIL - Central Bank chairman Arminio Fraga said on Friday that the crisis in neighboring Argentina is "extremely worrying". He compared Argentina to Brazil, stating the former has yet to restructure its state finances, which he said was carried out…