Central Banking
Argentine c bank bars 21 institutions from forex
ARGENTINA - Argentina's Central Bank on Monday suspended 21 financial institutions from foreign exchange trading after they failed to meet new capital regulations aimed at propping up a weakening peso currency.
Pakistan sees cash inflow
PAKISTAN - Pakistan's struggling economy enjoyed a significant surge of foreign currency late last year as expatriate workers sent money home from abroad.
Triennial Central Bank Survey - Final Results
REPORT - Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity 2001 - Final Results, 18 March.
Speech by Svein Gjedrem of Norges Bank, 14 Mar
SPEECH - In a speech titled 'Monetary policy and wealth management' Gjedrem said "The Norwegian loan and capital market probably has weaknesses nevertheless, with thin securities markets and little breadth in investor and owner environments compared with…
Reserve Bank of Australia Media Release
MEDIA RELEASE - Reform of credit card schemes in Australia, 18 March.
IMF News Brief
NEWS BRIEF - Press Statement by the IMF Mission to Argentina, 15 March.
Bank of England Quarterly Bulletin
REPORT - The Bank of England has published its Quarterly Bulletin, Spring 2002.
Controversy over Transnistrian "central bank"
FEATURE - The National Bank of Moldova denies the legitimacy of the "central bank" of the self-proclaimed "Trans-Dniester Republic". But in the breakaway republic, not recognised by any other country in the world, the Trans-Dniester Republican Bank…
Central banker wins raves for straight talk
FEATURE - One year, a recessionette and 10 interest rate cuts later, and David Dodge, the governor of the Bank of Canada, has probably said more about the Canadian economy - and more candidly - than his predecessor did in two years.
Cash transfers to be possible by Visa card
UK - European consumers will be able to transfer money directly between each other's Visa credit and debit cards by the autumn under plans by the card-processing network.
Buba's Welteke says 2002 hard for German banks
GERMANY - Bundesbank President Ernst Welteke said on Friday 2002 would be a difficult year for German banks and urged the sector to take measures to counter falling results and weak international competitive power.
Russian central bank chief quits on health grounds
RUSSIA - Viktor Gershchenko, chairman of the Russian central bank, resigned on Friday six months before his term was due to expire in September. He abruptly sent a letter of resignation to the president, Vladimir Putin, citing reasons of ill health.
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.