Central Banking
New Zealand cbank against introducing MPC
NEW ZEALAND - The Reserve Bank of New Zealand said in report Mar 26, 2001 that it opposes a recent proposal to change the country's monetary policy decision-making model in favor of a committee of experts instead of the existing framework which vests…
RBA board members debate economic prospects
AUSTRALIA/SPEECH - The newest board member of Australia's central bank, Donald McGauchie, doubts whether there will be a quick return to economic growth, in sharp contrast to the views of the central bank's deputy governor Stephen Grenville.
Operational risk measurement- BOJ papers
CENTRAL BANK RESEARCH - The Bank of Japan's financial and payment system office has published a series of working papers on operational risk that have now been revised and improved following comments from readers.
The Bank of Canada and Financial Stability-Dodge
SPEECH - David Dodge, the governor of the Bank of Canada, gives his second speech since taking over the job about what the central bank is doing to promote financial stability. He emphasises the work of the Group of Twenty, chaired by Canadian finance…
Banking Supervision-HKMA Yam viewpoint
CENTRAL BANK ARTICLE - Effective banking supervision requires taking a larger view of the industry than simply focussing on the ability of borrower to repay, says Hong Kong Monetary Authority chief executive Joseph Yam in his weekly column on the HKMA…
ECB seminar on monetary analysis published-Mar 16
CENTRAL BANK SEMINAR - On Nov 20-21 2000 the European Central Bank organised a seminar for staff from central banks entitled "Monetary analysis: Tools and applications". The aim of the seminar was to obtain an overview of the various approaches used to…
BoE faces £1bn BCCI lawsuit
Following a ruling on Thursday 22 March, Deloitte and Touche, liquidators of the Bank for Credit and Commerce Interantional, have been given leave to sue the Bank of England for its alleged failures as supervisor of BCCI
ECB rate cut should come as no surprise
A series of weak data releases, corresponding stock market declines across Europe and the United States as well as a cut in interest rates by the Federal Open Market Committee has fuelled speculation over the European Central Bank's forthcoming interest…
SNB announces next tranche of gold sales
The Swiss National Bank is to sell 100 tonnes of gold by September
Prodi calls for more economic power for commission
Romano Prodi, president of the European Commission, repeated his calls for more economic power for the European Commission to act as a counter-weight to the European Central Bank.
Is inflation targeting feasible in Poland?-article
ARTICLE - "Is inflation targeting feasible in Poland?" is a new article in the journal The Economics of Transition, Volume 9: Issue 1, co-written by Peter Christoffersen at McGill University, and Torsten Slk and Robert Wescott at the International…
Bank Capital Regulation: Literature Review-Santos
ARTICLE - "Bank Capital Regulation in Contemporary Banking Theory: A Review of the Literature" is a new article in the journal Financial Markets, Institutions & Instruments, Volume 10: Issue 2, by Joao A. C. Santos at the New York Fed. This paper reviews…
Q&A: New procedures for BoJ money mkt operations
ARTICLE - The Bank of Japan has published a short question and answer article about its new procedures for money market operations which started on Mar 19, 2001. It says that although the procedures are intended to produce the same effects as the "Zero…
Comparing price competitiveness of SE Asia exports
CENTRAL BANK RESEARCH - Zelal Kotan from the Central Bank of Turkey and Serdar Sayan from Bilkent University have written a paper titled "A comparison of the price competitiveness of Turkish and South East Asian exports in the European Union market in…
Hayami-BoJ to increase JGB outright buys if needed
Bank of Japan Governor Masaru Hayami reiterated Mar 22, 2001 that the central bank will increase its outright purchases of government bonds only when needed.
BoJ must compensate vicitm of sexual harrassment
A Japanese court has fined the BoJ $55K for failing to protect a female staff member from sexul harassement by a former manager at the bank.
ECB says central banks should keep oversight role
CENTRAL BANK RESEARCH - The European Central Bank on Mar 22, 2001 said that euro zone central banks should maintain a key role in banking supervision, arguing that their close contacts with commercial banks were crucial for crisis prevention.
US House Panel OKs Fed to pay banks interest
Small businesses and banks won the right to earn interest on their deposits under two bills passed on Mar 21, 2001 by the US House Financial Services subcommittee.
Thailand cbank stops offshore investment fund
The Bank of Thailand has halted the launch of a new fund to help Thai investors invest abroad because of fears that it might encourage capital outflows and destabilise the exchange rate
MAS consults on securities supervision
The Monetary Authority of Singapore late Wednesday (March 21) released "public consultation papers" on two new proposed laws on securities and futures trading and financial advisory activities on theisland.
Australia's Costello names McGauchie to RBA board
Former president of Australia's National Farmers' Federation Donald McGauchie has been appointed to the board of the Reserve Bank of Australia for a term of five years, Treasurer Peter Costello said on Mar 22, 2001.
Argentina seeks support for economic crisis plan
Argentine President Fernando de la Rua on Mar 22, 2001 urged a disaffected coalition partner to rejoin the Cabinet, in a call to muster support for a new plan to pull the country out of financial crisis.
Venezuela Chamber asks court to fix cbank rates
A Venezuelan business chamber has filed an injunction in the supreme court demanding that it nullify a May 1999 agreement allowing banks to set interest rates on a case-by-case basis, local daily El Nacional reported on Mar 22, 2001.
Brazil hikes rates to permit future cuts
The Brazilian central bank has pushed up interest rates to 15.75% protraying this as a defensive more, designed to allow future rate cuts