Central Banking
Sudan's c bank tightens banking sector control
SUDAN - According to Al-Quds Al-Arabi newspaper (11 March), the Sudanese Central Bank intends to tighten control and supervision over the local banking sector.
ECB Duisenberg says europe needs structural reform
SPAIN - Wim Duisenberg, chairman of the European Central Bank, said Europe needs to speed up structural economic reforms to stimulate growth.
Two candidates compete for ctrl bank head post
SOUTH KOREA - Public fund management committee Chairman Park Seung and Korea Federation of Banks chief Ryoo Shee-yul are the two most likely candidates to be the next central bank governor, the Munhwa Ilbo reports.
US Nobel laureate praises China's monetary policy
CHINA - Nobel Laureate Robert Mundell has praised China's monetary policy as "excellent" in a recent interview.
Korea to export currency for world cup period
SOUTH KOREA - The Bank of Korea (BOK) today said that domestic lenders will export 50 billion won (US$37.82 million) worth of the country's money abroad to facilitate currency exchange for foreigners who will visit Korea during the FIFA World Cup period.
Israeli cabinet OKs diluting cen bank chief power
ISRAEL - Israel's cabinet on Sunday approved sweeping changes to the way interest rates are set but analysts said the plans, which include setting up a monetary council, would weaken the central bank and harm the economy.
Dallas Fed's Economic and Financial Review
RESEARCH - "Banking and Currency Crisis Recovery: Brazil's Turnaround of 1999" analyzes the Brazilian recovery, focusing on the freedom Brazilian bank health gave the central bank to pursue a postcrisis monetary policy.
The IMF-Feeding the rat
ARTICLE - An Article by Diwa C. Guinigundo, Alternate Executive Director, International Monetary Fund, Manila Standard, 28 February.
Testimony of Fed Governor Mark Olson, 14 Mar
TESTIMONY - Federal Reserve Governor Mark Olson gave testimony on Thursday titled 'The Financial Services Regulatory Relief Act of 2002'. It was his first appearance before the subcommittee since becoming a member of the Board of Governors.
Interagency Guidance on Country Risk Management
LETTER - The Federal Reserve, along with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, have issued enhanced guidance concerning the elements of an effective country risk management process for banking…
Speech by David Clementi, Bank of England, 14 Mar
SPEECH - In the speech titled 'A Bank for all Regions: Promoting Monetary and Financial Stability in the United Kingdom' Clementi said that interest rates in the U.K. may stay around present levels for some time to come, given the current uncertain…
IMF Global Financial Stability Report, March 2002
REPORT - A Quarterly Report on Market Developments and Issues from the International Monetary Fund, March 2002.
Call for contributions from the ECB
PUBLICATION - Call for contributions from interested parties: Joint work of the European System of Central Banks and the Committee of European Securities Regulators in the field of clearing and settlement, 15 March.
Speech by Wim Duisenberg, ECB President, 15 Mar
SPEECH - In the speech titled 'The introduction of the euro: a (critical) retrospect and a preview' Duisenberg said "we consider the current level of the key ECB interest rates appropriate to maintaining price stability over the medium term".
Regulators and the gentle art of persuasion
LETTER - A letter published in the London edition of the Financial Times on Friday.
Russian c bank raises gold purchase price by 5%
RUSSIA - The Central Bank of Russia has established a new procedure for calculating buy and sell quotes for refined gold, silver and platinum in bars for operations with credit institutions.
Irish c bank "seriously concerned" by AIB report
IRELAND - The Central Bank of Ireland said Thursday it is "seriously concerned" by what has emerged from the so-called Ludwig report into fraudulent trading activities at Allied Irish Banks PLC (U.ALB).
ECB start raising rates by autumn - Kiel institute
GERMANY - The Kiel Institute for the World Economy IfW, one of Germany's six leading economic research institutes, said on Thursday it expected the European Central Bank to start raising rates in autumn 2002 in response to strengthening euro zone…
IMF sees EU candidates joining euro earliest 2008
POLAND - The Internationl Monetary Fund (IMF) said on Thursday that it would take European Union candidates as long as four years to join the euro zone after planned EU accession in 2004.
South Africa raises interest rates
SOUTH AFRICA - South Africa's Reserve Bank has raised interest rates by one percentage point to 11.5% to counter the inflationary impact of the rand's steep slide last year.
BoE's Clementi sees steady UK rates for some time
UK - British interest rates, on hold at a 38-year low of 4.0 percent since November, will probably stay unchanged for some time while the economy shakes off last year's downturn, a senior central bank official said on Thursday.
History shows East Europe pitfalls on way to euro
FEATURE - Investors are already betting Eastern Europe's road to the euro will be remarkably short, but the history of European monetary union shows just how many hairpin bends and potholes still litter the way.
China's c bank in battle over payment settlement
CHINA - Credit-card companies are fighting for a slice of multi-billion-dollar revenues which could be earned by providing their international networks to settle transactions made on the mainland.
IMF warns of new bank regulator
INDONESIA - Creating a new financial regulator is by no means a simple task. And a new entity in the making shows the potential for dragging the banking sector through a detour in its road to recovery, according to one study by the International Monetary…