Central Banking
Georgia National Bank's reserves raised
GEORGIA - With the receiving of new credit from the International Monetary Fund, currency reserves of National Bank of Georgia had raised to 141.8 million dollars.
Ottawa's plan for G-20 security is out of sight
ARTICLE - Finance ministers and central bank governors from the Group of 20 nations, along with officials of the International Monetary Fund and the World Bank, will go underground when they congregate here next week. Literally.
Bulgarian mint to be split from central bank
BULGARIA - The mint of the Bulgarian National Bank (BNB), which prints Bulgarian levs, will be split from the BNB and transformed into a state-owned joint stock company as of 2002.
Kuwait's central bank upgrades its internet site
KUWAIT - Kuwait's Central Bank (CBK) has launched its upgraded Internet site, accessible at www.cbk.gov.kw, CBK Governor, Sheikh Salem Abdul Aziz al Sabah, said on 5 November 2001.
Speech by Hermann Remsperger of the Bundesbank
SPEECH - Speech by Professor Hermann Remsperger, Member of the Directorate of the Deutsche Bundesbank at the Summit of Financial Journalists in Frankfurt on 29 October.
Report casts doubt on how Italy qualified for euro
ITALY - The government of a European Union country - understood to be Italy - used the derivatives market to camouflage the true size of its budget deficit so that it could be admitted to the European single currency, according to a report.
Early euro vote for UK in doubt
UK - Chancellor of the Exchequer, in the UK, Gordon Brown poured cold water yesterday on expectations the British government was leaning toward holding a referendum on joining the European single currency during the current parliament.
BOJ Suda - Weak yen is remedy to stop price falls
JAPAN - Bank of Japan board member Miyako Suda said Monday she believes a weak yen is an appropriate remedy to stop Japan's price declines.
Russia's Gokhran to buy gold for central bank
RUSSIA - Russian precious metals depository Gokhran will buy 40 metric tons of gold in 2002 from domestic commercial banks for the Central Bank of Russia's reserves, Gokhran official Valery Goncharov told reporters Monday.
Italy denies tricks to qualify for euro
ITALY - Italy on Monday denied a report that it had used complicated derivatives to hide the true size of its 1997 budget deficit to qualify for membership of the euro currency.
Error rate high with euro notes trial in France
FRANCE - Two months before euro notes and coins come into circulation, the financial community is concerned that cashiers in shops and banks will not be ready to use euros and detect fake notes from 1 January.
Buba Welteke - ECB rate policy no hinder to growth
GERMANY - The European Central Bank's interest rates aren't an obstacle to growth, long-term and real interest rates are low and the ECB must avoid letting long-term inflation expectations build up, Deutsche Bundesbank President Ernst Welteke repeated,…
Bank of Japan is pressured to take action
JAPAN - Japanese lawmakers tightened the screws on the Bank of Japan by advancing legislation that would force it to take more aggressive action to stimulate the world's second-largest economy.
Thai c bank reshuffle: Six assistant gov's rotated
THAILAND - Pridiyathorn leaves only three assistant heads unchanged in his major reorganisation of top-level executives.
GATA - Howe lawsuit goes to Boston hearing
US - A hearing in GATA consultant Reginald H. Howe's gold market manipulation lawsuit against the Bank for International Settlements, the U.S. Federal Reserve Board and Treasury Department, and five bullion banks will be held at 2 p.m. Monday in U.S…
Speech by UK Chancellor Gordon Brown
SPEECH - Speech by UK Chancellor of the Exchequer to the CBI annual conference dinner in Birmingham, England, 4 November.
Envisaged scenarios of the euro changeover
RESEARCH - Regular report of the European Central Bank on Envisaged scenarios of the euro area for the 2002 cash changeover as at 26 October.
Call for big changes to global financial system
ARGENTINA - A group of former finance ministers from emerging market countries will today propose fundamental changes to the global financial system, including an international bankruptcy procedure for government borrowers.
Russian reserves growing
RUSSIA - Russia's gold and foreign exchange reserves grew from $38.6 billion to a new peak of $38.8b in the period between 19 October and 26, 2001.
Speech by Bundesbank President Ernst Welteke
SPEECH - Speech by Ernst Welteke, President of the Deutsche Bundesbank, at Danmarks Nationalbank in Copenhagen, 29 October.
Testimony of Dolores Smith at the US House of Reps
TESTIMONY - Testimony of Dolores S. Smith, Director, Division of Consumer and Community Affairs before the Subcommittee on Financial Institutions and Consumer Credit of the Committee on Financial Services, U.S. House of Representatives, 1 November.
Reducing information pollution at the ECB
ARTICLE - Conventional wisdom has it that the European Central Bank is excessively secretive and insufficiently transparent. Nothing could be further from the truth.
Japan's fading economy
ARTICLE - Two years ago, at the height of the dot.com bubble, when there were already worries that the US boom would end in tears, it was argued that the world needed Japan to start growing again before the US stopped doing so. It didn't quite turn out…
The future of online banking
ARTICLE - A letter published in the Financial Times London edition, 31 October, comments on a previous feature the paper reported on the outlook for online banking.