Central Banking
Philippines - Derivatives supervision tightened
PHILIPPINES - The Philippine Central Bank has tightened its supervision of the derivatives market by requiring the affiliates of all financial institutions to seek approval from the monetary authority before undertaking such transactions.
Race still on for ECB Vice President position
BELGIUM - Belgium said on Thursday it stuck to its candidate for the European Central Bank's vice-presidency, which vacates end-May, but added that it wanted a good chance for a next vacancy if a Belgian failed this time.
When an ATM is an alien concept
FEATURE - It is only an ATM (automatic teller machine), but it might as well be an alien spacecraft, crash landed in central Vientiane. People do not know what to make of it - which is understandable when you consider that this is the first ATM in Laos.
Israel approves Bill to redefine c bank powers
ISRAEL - Israeli ministers have approved a bill that would redefine the Bank of Israel's powers, but allowed the finance ministry and central bank time to propose changes to the bill to resolve continuing disagreements.
House votes to end banking ban
US - The Senate House has voted to end a 70-year-old ban on banks paying interest on business checking accounts.
ECB sees upturn but slower CPI decline
GERMANY - The European Central Bank on Thursday maintained its assessment that the euro zone economy was recovering but said high oil prices could lead to slightly higher inflation than predicted earlier this year.
Brazil's central bank - a question of independence
FEATURE - Brazil's central bank president, Arminio Fraga, may appear the only sure thing in Brasilia these days as election fever grips the capital of South America's number one economy. But the question to be asked is, for how long?
Gold market calmer on Welteke reassurance
GERMANY - The gold market was reassured by the statement made by Bundesbank President Ernst Welteke on Thursday that the international agreement limiting gold sales by central banks was worth extending once it expired at the end of 2004 and that any…
Output trends and Okun's law - BIS Working Paper
RESEARCH - BIS Working Papers No. 111 by Gert Schnabel, April 2002.
Polish MPC member says gov't missed reform chance
POLAND - A member of Poland's ten strong Monetary Policy Council, Boguslaw Grabowski, has said that Poland's leftist government missed a great opportunity to make deep fiscal and structural reforms in the first months after taking power last October.
BofE uses Marks and Spencer to raise money supply
UK - A shortage of quality £5 notes, due to banks' reluctance to stock the relatively low value notes in ATM cashpoint machines, has led the Bank of England to turn to post offices and Marks and Spencer to distribute used fivers.
Norway central bank leaves key rates unchanged
NORWAY - Norges Bank, the Norwegian central bank, Wednesday left its key deposit rate unchanged at 6.50%, in line with market expectations.
Norges Bank's press conference of 10 April
PRESS CONFERENCE - Monetary policy meeting of Norges Bank's Executive Board.
Norges Bank keeps interest rates unchanged
PRESS RELEASE - Interest rates were left unchanged at Norges Bank's Executive Board meeting on 10 April. Norges Bank's key interest rate, the sight deposit rate, therefore remains at 6.50 per cent. The overnight lending rate also remains unchanged.
IMF World Economic Outlook
REPORT - World Economic and Financial Surveys, Recessions and Recoveries, April 2002.
Japan cautioned by IMF on deflation fight
JAPAN - The International Monetary Fund Tuesday cautioned the Japanese Government not to slacken its efforts to combat deflation and structural problems, warning that additional steps were necessary to combat serious weaknesses in the world's second…
Supervision seminar to be hosted by c bank of Oman
OMAN - Hamoud bin Sanjoor al Zedjali, Executive President of the Central Bank of Oman (CBO), inaugurated at the CBO on Sunday a regional seminar on supervisory developments and practices in the banking sector.
Danish business expects Euro entry within 3 years
DENMARK - Danish managers expect Denmark to be join the euro by 2005 according to a poll by Green Analyseintitute carried out for the Danish business daily, Borsen.
Russian gov't seeks central bank draft law changes
RUSSIA - The Russian government will press for a revision of a number of amendments to the draft law on the Central Bank the State Duma (lower house) proposed Friday, Deputy Prime Minister and Finance Minister Aleksey Kudrin has said.
Bank's inner circle and its Outer Mongolia
FEATURE - The Bank of England is the City's Kremlin. From time to time figures appear on the balcony above its windowless walls, and the watchers must try to calculate whose stock is up and who has been posted to Outer Mongolia. There is no doubt that…
Korean financial supervisory system to be assessed
SOUTH KOREA - The International Monetary Fund (IMF) and the World Bank are expected to evaluate Korea's progress in establishing effective frameworks for supervising banks, insurers and securities firms during a 14-day assessment program on the country's…
Greenspan's heir apparent stays cryptic
FEATURE - Judging by his refusal to provide a direct answer to a straightforward question, John Taylor is on track to become the next chairman of the US Federal Reserve writes Stephen Romei in The Australian on Monday.
Supervision expert to head new German regulator
GERMANY - German Finance Minister Hans Eichel will appoint banking supervision expert Jochen Sanio later this month to head Germany's new financial markets super-regulator, German media reported on Saturday.
Russian c banker in court for abuse of office
RUSSIA - The Zamoskvoretskiy intermunicipal court in Moscow begins proceedings in the criminal case involving Aleksandr Alekseyev, deputy head of the Russian Central Bank's main territorial directorate for Moscow, ITAR-TASS reports.