Central Banking
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…
Debating and preparing for the Payments Future
FEATURE - In a rare set of predictions on how the U.S. payments system's transaction mix will evolve, The Nilson Report in the American Banker says that in about 10 years debit cards will overtake credit cards, cash will remain king, and paper checks…
Thailand eases bank credit-card rules
THAILAND - Thailand's central bank Friday announced it has eased rules and regulations governing commercial banks' credit-card services in order to promote competitiveness and improve the quality of service.
Internet banking users top 12 million in Korea
SOUTH KOREA - The number of subscribers to Internet banking services reached 12.41 million at the end of March in South Korea, up 9.7 percent from 11.31 million at the end of last year, the Bank of Korea (BOK) said Monday.
Bundesbank's new board members approved
GERMANY - The constitution of the Deutsche Bundesbank's new board was settled Friday, a month after lawmakers agreed to adapt the central bank's structure to the era of the European single currency.
Interview with Russian central bank First Deputy
FEATURE - Interview with central bank first deputy chairman Oleg Vyugin with Vesti RTR News Program, 23 April.
Outgoing chief warns on Greek competitiveness
GREECE - In the Greek central bank's annual report released on Monday the governor warned that his country was losing competitiveness in the eurozone in spite of high levels of investment driven by transfers from EU structural funds.
ECB stands in contrast to Bank of England
FEATURE - Tuesday's London edition FT reports on the difficulties central banks can face in identifying and maintaining ideal inflation targets.
ECB gold reserves declined to 26 April
GERMANY - The European Central Bank said Tuesday that the Eurosystem's net reserves in gold and gold receivables declined by EUR306 million to EUR139.5 billion in the week ended 26 April.
Speech by David Dodge of Bank of Canada, 26 Apr
SPEECH - In a speech titled 'The Interaction Between Monetary and Fiscal Policies' Dodge said that Canadian monetary and fiscal policies both went badly off course just over 25 years ago. It then took 15 to 20 years to establish the appropriate focus for…
ECB Press Release
PRESS RELEASE - Publication of 'The single monetary policy in the euro area: General documentation on Eurosystem monetary policy instruments and procedures', 26 April.