Central Banking
Ex-Turkmenistan banker accused of loan fraud
TURKMENISTAN - The top prosecutor's office has accused a former central-bank chief of embezzling $120 million in German and Swiss loans in one of this isolated nation's biggest corruption scandals since independence from the Soviet Union, according to…
No reason to bar Chinese bank offices
TAIWAN - The central bank doesn't have reasons not to allow mainland Chinese banks to set up representative offices in Taiwan, the Commercial Times reports, quoting Central Bank Governor Perng Fai-nan.
Czech Senate pass amended Banks Act, Payments Act
CZECH REPUBLIC - The Senate on Wednesday passed the amended Banks Act abolishing the possibility of anonymous deposits, among other things.
UK government extends Davies' term at FSA
UK - The UK government on Wednesday said it had extended the term of Sir Howard Davies as head of its chief financial regulator until January 2004, ending speculation that he may stand down to move to the Bank of England.
Some E Europe states may need longer in ERM2-Noyer
UK - European Central Bank vice-president Christian Noyer reiterated on Friday it could be desirable for some eastern European accession states to remain in the European exchange rate mechanism (ERM-II) for longer than the minimum requirement of two…
Duisenberg sees inflation below 2 pct in May
NETHERLANDS - European Central Bank President Wim Duisenberg said on Friday he expected euro zone inflation to fall below its two percent tolerance ceiling in May 2002.
Singapore, Hong Kong sign agreement on regulation
SINGAPORE - The Monetary Authority of Singapore (MAS) signed a Memorandum of Understanding (MOU) Friday with the Office of the Commissioner of Insurance of Hong Kong (OCI) for cooperation in regulation of the insurance industry.
Belarus bank chief dismisses currency union idea
BELARUS - Meeting deputies of the Belarusian National Assembly's House of Representative [lower house of parliament] today, the chairman of the National Bank of Belarus, Pyotr Prakapovich, said that the introduction of a single currency of the union…
Speech by Eugenio Domingo Solans, ECB, 9 Mar
SPEECH - In the speech titled 'European financial integration and the international role of the euro' Solans said that the credibility of the ECB's monetary policy is demonstrated by the euro zone's low inflation.
Speech by Fed Chairman Alan Greenspan, 13 Mar
SPEECH - Greenspan gave a speech titled 'The U.S. Economy' on Wednesday in which he repeated that U.S. economic activity was improving, and urged a greater emphasis on savings to improve the long-term vitality of the expansion.
IMF Press Briefing, 13 March
PRESS BRIEFING - Transcript of a Press Briefing by Thomas C. Dawson, Director, External Relations Department, International Monetary Fund, London, 13 March.
ECB Monthly Bulletin March 2002
REPORT - The European Central Bank published its March 2002 Monthly Bulletin on 14 March.
Sabirin verdict - Bank Indonesia suspect foul play
FEATURE - Sjahril Sabirin, the governor of Bank Indonesia, has been accused of corrupt practices; Bank Indonesia is suggesting that the courts are guilty of the same crime. The bank alleges that underhand methods are being used to ensure its governor's…
The road to the euro for Eastern Europe
FEATURE - Eastern European states are not only on course to join the European Union but will also join the European single currency in the years to come says a report by Reuters.
ECB optimistic about euro zone upturn, inflation
GERMANY - The European Central Bank on Thursday again voiced confidence the euro zone economy had bottomed out and the region's growth should gradually return to full speed before the end of the year.
Green shoots of recovery may be on the way
US - Alan Greenspan continued his new optimistic mantra that the U.S. economy is pulling out of its slump and pointed out that even employment, one of the last indicators to rebound, is showing signs of life.
10 won coins to become less visible
SOUTH KOREA - The Bank of Korea (BOK) said on Tuesday that fewer 10 won coins will be available in the Korean market this year.
Rating agencies criticize c bank reform
ISRAEL - Three leading international credit rating agencies have criticized the Finance Ministry's plans for reining in the independence of the Bank of Israel, but stopped short of saying it would affect the country's credit rating, The Jerusalem Post…
Credit card advantages overlooked, RBA told
AUSTRALIA - Two leading banking industry consultants have criticised planned reforms of Australia's credit card industry.
Duma to consider bill on central bank of Russia
RUSSIA - The Russian Duma will consider on 15 March the bill 'About the Central Bank of Russia (Bank of Russia)' in the second hearing.
Lithuanian c bank lowers reserve requirements
LITHUANIA - Lithuania's central bank said on Thursday it lowered the reserve requirements for banks to six percent from eight percent in a move to bring the country's banking rules closer to European standards.
EU summit won't discuss ECB job - German source
GERMANY - A German government source said on Thursday he did not expect this week's European Union summit to discuss who should succeed European Central Bank Vice President Christian Noyer, although surprises were possible.
Hayami - To continue to do utmost to stabilize mkt
JAPAN - The Bank of Japan will continue to do its utmost to stabilize the financial markets, BOJ Governor Masaru Hayami said at Thursday's meeting of the Council on Economic and Fiscal Policy, according to a government official, underscoring the BOJ's…
IMF's Koehler says world econ in recovery process
AUSTRIA - International Monetary Fund Managing Director Horst Koehler said on Thursday that the global economy had avoided recession and was now on a process of recovery.