Central Banking
Greenspan returns to Switzerland as plane diverted
SWITZERLAND - U.S. Federal Reserve Chairman Alan Greenspan has returned to Switzerland after the airplane on which he was traveling turned back from a flight to the U.S., a spokesman for the Basel city police said Tuesday.
Banks in Fed talks over extended closure of market
US - Stock markets in the US will be closed today in the wake of the terrorist attacks which sent stock prices elsewhere in the world plunging and investors rushing for the safe havens of gold and government bonds.
Central banks ease fears of global gridlock
WORLD - Central banks worldwide took swift action on Wednesday 12 Sep to keep financial markets working, pumping in additional money where needed. The Bank of Japan reacted quickly to soothe fears of a global gridlock, and was swiftly followed by other…
Capitalist system cranks into gear after assault
US - The destruction of the World Trade Center in New York yesterday effectively paralysed the U.S. financial system but today, Wednesday 12 Sep, the rest of the global capitalist system fought huge headaches and carried on.
Japan fin, econ authorities setting up task forces
JAPAN - Japanese financial and economic authorities set up task forces early Wednesday 12 Sep to ease effects on the markets in the wake of suspected terrorist attacks in Washington and New York.
ECB confirms council meeting Thursday as planned
GERMANY - The European Central Bank confirmed on Wednesday 12 Sep that its policymaking Governing Council will meet as planned here on Thursday for its regular fortnightly policy review.
Bank of France New York office escapes the horror
UNITED STATES - CentralBankNet has today, Wednesday 12 Sep, discovered that the Banque de France, France's central bank, representative office in New York avoided the devastation at the World Trade Center.
Farewell to the IMF Executive Board - Fischer
SPEECH - Stanley Fischer, First Deputy Managing Director, International Monetary Fund, 30 August.
Three Questions about the Economic Slowdown
SPEECH - Presentation to a Community Leaders' Luncheon by Robert T Parry President and CEO of the Federal Reserve Bank of San Francisco, Salt Lake City, Utah, 7 September.
BIS Quarterly Review, September 2001
QUARTERLY REVIEW - The Bank for International Settlements has published its Quarterly Review, September 2001. International banking and financial market developments.
Clearing and settlement of securities: in Europe
SPEECH - Speech by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the Symposium of the Deutsche Bundesbank, Payment and Securities Settlement Systems in Germany against the Background of European and International…
Business chiefs fail to banish the gloom
EUROPE - Pessimism about Europe's economy was prevalent at a mini-Davos meeting of top bankers and industrialists.
Talks on Russian bank reforms
RUSSIA - Top national and international policymakers are set to meet at Russia's central bank today, Tuesday 11 Sep, to discuss options for restructuring the country's banks.
Kohler says IMF may look again at 'Tobin tax'
GERMANY - Horst Kohler, the International Monetary Fund's managing director, on Monday acknowledged recent calls by political leaders in Germany and France for more detailed discussions on how better to control international capital markets.
Pakistan to issue Islamic bank licences
PAKISTAN - Pakistan's military government is to issue licences for new Islamic banks, the first time that new banking licences would be issued in a decade, according to Shaukat Aziz, finance minister.
Life after Duisenberg
CENTRALBANKNET'S SPECIAL REPORT - Achieving consensus is never easy in the European Union - and choosing a president for the European Central Bank was no exception. So, in typical EU style, a compromise was reached. Or was it? The French maintain that…
Philippines faces sanctions on money laundering
PHILIPPINES - The Philippines could face sanctions from a range of industrialised countries from the end of September thanks to its failure to tackle money laundering, according to an international agency which monitors the issue.
US jobless rate jumps to 4.9%
US - The US unemployment rate rose sharply to 4.9% in August, official data has showed.
Economist group sees slower growth ahead this year
US - The National Association for Business Economics has revised down its estimates of U.S. growth for both this year and next.
Japan heads towards recession
JAPAN - Japan's battered economy has tipped yet closer to recession, as new figures show it contracted 0.8% in the second quarter of the year.
Global econ slowdown at or near bottom
SWITZERLAND - While the global economy remains in a slump, conditions at least appear to have stabilized, suggesting that the slowdown is at or near its turning point, Bank of England Governor Eddie George said Monday 10 Sep after a regular meeting of…
Turkish c bank to publish inflation report in Oct
TURKEY - Turkey's central bank plans to announce next month future inflation estimates and details of the monetary policy that will back a plan to cut stubbornly high inflation, a senior central banker said on Monday 10 Sep.
Economic stabilisation hq proposed in Japan
JAPAN - A Japanese think tank on Monday 10 Sep called for creating an economic stabilisation headquarters to work out key strategies for the slumping Japanese economy.
Belarusian c bank's reserves 280m dollars, 10 tons
BELARUS - The gold and hard currency reserves of the National Bank of Belarus currently total 10,016 kg of gold and 280m dollars.