Central Banking
Turkmenistan leader slams central bank chief
TURKMENISTAN - At a government meeting on 6 August, Turkmen President Saparmyrat Niyazov harshly criticized the head of the Central Bank for failing to prevent embezzlement of state funds and for using his position to promote people without merit.
The Outlook for the U.S. Economy
SPEECH - President and CEO of the Federal Reserve Bank of Chicago Michael Moskow gave a speech to the Priority One Annual Meeting, Crowne Plaza Five Seasons Hotel, Cedar Rapids, Iowa, 7 August.
Bank of England Inflation Report - August 2001
REPORT - The Bank of England has published its latest inflation report for August 2001. The report suggests that the UK economy will remain weak in 2001 before starting to recover in 2002.
IMF names head of Ukraine representation
UKRAINE - The IMF has appointed Lorenzo Filiuoli as head of the organisation's representation in Ukraine.
Argentina's int'l reserves fall another 2.2%
ARGENTINA - Argentina's international reserves fell by 2.2% between 1 August and 2, according to latest data issued by the country's central bank.
Tanzania to suspend German currency printer deal
TANZANIA - The Tanzanian government has directed the central bank to rescind its decision to award a German currency printing firm a multi-million dollar tender to print banknote for Tanzania due to a recent report of mass misprinting by the company, the…
Latvian c bank says liquidity returning to normal
LATVIA - Latvia's central bank said on 8 August that interbank liquidity was returning to normal after a months' long squeeze and it was now able to offer more funds to the market.
President of Haiti appoints new central bank board
HAITI - President Jean-Bertrand Aristide has appointed a new board of directors to head the BRH, the Bank of the Republic of Haiti.
Nigeria c bank weans banks off govt loan addiction
NIGERIA - The Nigerian central bank's drive to discourage commercial bank lending to regional and local governments should control money supply and inflation but at the expense of bank profits, bankers and analysts said.
Taiwan beefs up reserves
TAIWAN - Taiwan's foreign exchange reserves last month rose by US$983 million, month on month, to US$110.11 billion.
Lebanon c bank remains main supplier of dollars
LEBANON - Demand for U.S. dollars was limited in the Lebanese market this week, with the central bank the main supplier of the hard currency, dealers said.
Philippine money laundering probe threshold cut
PHILIPPINES - Lawmakers plan to cut the deposit threshold of bank accounts that can be probed under anti-money laundering legislation.
Reserve Bank executive to have their power reduced
NEW ZEALAND - Brash to be removed as Reserve Bank chairman. The power of the executive team at the Reserve Bank is to be reduced with the introduction of law changes planned for this year.
ECB Working Paper Series, No 70
RESEARCH - Central Bank Forecasts of liquidity factors: Quality, publication and the control of the overnight rate, by Ulrich Bindseil, July 2001.
Infrastructure and Economic Development
SPEECH - Remarks by Federal Reserve Governor Edward Gramlich at the Texas Trade Corridors New Economy Conference, San Antonio, Texas on 3 August.
The securities activities of banks
SPEECH - Testimony of Governor Laurence Meyer, before the Subcommittee on Financial Institutions and Consumer Credit and the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises of the Committee on Financial Services, U.S…
Basel Committee Working Papers
REPORT - Basel Committee on Banking Supervision Working Paper, August 2001, Risk Sensitive Approaches for Equity Exposures in the Banking Book for IRB Banks.
Argentina looks to $6bn IMF loan
ARGENTINA - Argentine officials are confident of winning support for a new loan of $6bn or more from the International Monetary Fund to help the country contain the crisis of confidence engulfing its economy.
World Bank appoints new v president and treasurer
US - The World Bank has announced the appointment of Graeme Wheeler as Vice President and Treasurer effective from 3 August. He succeeds Afsaneh Mashayekhi Beschloss, who left the service of the Bank in May 2001.
Polish opposition party blasts central bank policy
POLAND - Poland's opposition social democrats, tipped to win general elections in September, blasted the central bank on 4 September for ignoring a slowing economy and mounting unemployment in its ambitious anti-inflation drive.
Bankers say no ATMs near casinos in border regions
THAILAND - The Thai Bankers' Association says that no members have automated teller machines or credit card approval terminals near or inside casinos located outside Thai territory along the Laotian and Cambodian borders.
Japan profits on yen interventions
JAPAN - The Japanese government has made a profit of about YEN 6,000bn ($49bn) on its foreign exchange reserves during the last decade, partly due to heavy bouts of intervention, a former Ministry of Finance official has said.
NZ reserve bank governor's credibility questioned
NEW ZEALAND - The Reserve Bank of New Zealand governor's credibility on economic and social matters has been called into question by the deputy prime minister of New Zealand.
OECD recommends more power to banks regulator
CZECH REPUBLIC - The Czech Republic can best minimise risks to its banking sector by creating preconditions for a more effective functioning of the regulator, the Czech National Bank (CNB), says a recently published study by the OECD on the Czech economy.