Central Banking
Head of Colombian cbanks defends his policies
The managing director of the Central Bank of Colombia, Miguel Urrutia, has denied in an interview that the bank is responsible for Colombia's economic crisis and 20.5 per cent unemployment.
Argentine peso peg to include euro,yen-Cavallo
Former Argentine Economy Minister Domingo Cavallo, who reportedly has been offered the job of central bank chief, said in a press interview he favored alterations to foreign exchange policy.
Philippines to improve transparency of cbank
The Philippine government will take measures to further improve transparency and accountability of monetary authorities, according to a news release from the presidential palace on Mar 10, 2001.
Changing the guard on Capitol Hill-by Richard Hill
ARTICLE - Months after Bush's win, two of America's key regulators, the SEC and CFTC, are still without chairmen. In the latest issue of The Financial Regulator Richard Hill examines the likely nominees, and what the new Congress has in store for them.
The rise and fall of consortium banks-by R Roberts
ARTICLE - Consortium banks, which flourished in the early "unregulated" years of the Euromarkets, have all but disappeared. Richard Roberts explains how concern about their stability prompted the BIS to develop the principle of "parental responsibility"…
Measuring regulatory success- by Alan Cameron
ARTICLE - Effective regulation cannot be measured by high-profile prosecutions or by counting boxes ticked. Financial regulators have much to learn from Professor Malcolm Sparrow's study of crime and environmental policing, argue Alan Cameron and Bill…
Effect of booming economy on US trade deficit
RESEARCH PAPER - The robust growth of the U.S. economy between 1996 and 1999 spurred U.S. demand for foreign goods and contributed to a surge in the U.S. trade deficit. An analysis by the New York Fed of the effects of the expansion on the trade balance…
China seeks HK expert to join central bank
China's Premier Zhu Rongji is seeking a Hong Kong banker to become a deputy governor of the country's central bank, a move which analysts say shows Beijing is serious about beefing up its regulatory control of the banking sector.
Currency crisis in emerging markets - predictable?
RESEARCH PAPER - Brazil and Argentina are among the countries most vulnerable to a currency crisis, according to a new model developed by a Dutch central bank economist which had been flashing warning signals about Turkey back in December 2000.
Central banks key to financial stability-BOI, BOF
The internationalisation of institutions and financial activities has heightened the importance of national central banks in ensuring financial stability, the governors of the Bank of Italy and Bank of France said in separate speeches on Mar 9.
Norway government petroleum fund 2000 return 2.5%
Norway's government petroleum fund had a return on capital last year of 2.5%, when measured in terms of a currency basket that corresponds with the Fund's benchmark portfolio, the Norwegian central bank reported on Mar 9.
Asian currency swap idea 'acceptable'-Manila c.bnk
The Philippines is basically happy with the concept of an Asian web of currency swaps aimed at fending off future financial crises and is forging ahead with discussions on terms, deputy central bank governor Amando Tetangco said on Mar 9, 2001.
Fed's Ferguson-monetary policy unhurt by mergers
A global wave of financial mergers and acquisitions in the 1990s, totaling 7,500 deals valued at about $1.6 trillion, has not affected central banks' ability to set interest rates, Federal Reserve Vice Chairman Roger Ferguson said Mar 9, 2001.
Vietnam cbank launches electronic payment system
The State Bank of Vietnam (SBV) has completed the technical side of its US$13.2 million inter-bank payment project funded by the World Bank-funded, SBV Governor Le Duc Thuy announced.
Currency crises and foreign reserves-IMF paper
RESEARCH PAPER - In a new IMF working paper, economist Piti Disyatat asks how far a government will run down its currency reserves in defence of a fixed exchange rate. He also uses an optimizing model of currency crisis to determine whether or not a…
Finnish cbank transfers 129m euros to govt
The Bank of Finland has transferred 42% of its 309m euros profit to the government, the first time the bank has had to pay money to the state since 1984.
India's Jalan says bias to cut rates remains
The governor of India's central bank, which cut interest rates twice in recent weeks, said he continues to have a bias toward easing rates.
New Somali central bank governor sworn in
Mahmud Muhammad Ulusow has been sworn in as the new head of the Central Bank of Somalia.
Efficient payments in the euro area-Wellink speech
Opening address by Dr A.H.E.M. Wellink, President of De Nederlandsche Bank NV, on the occasion of the "5th conference on pan-European cash & treasury management", held in Amsterdam on Mar 6 2001.
Banking supervision-Alan Greenspan speech
Alan Greenspan said on Mar 7 it was not surprising that a weaker economy was making bankers wary about lending, but he urged them not to go overboard. "Lenders and their supervisors should be mindful that in their zeal to make up for past excesses they…
B-shares and China's monetary and banking systems
The removal of restrictions on the holding of B-shares should have a generally positive effect on the development of Mainland China's monetary and banking systems, says Joseph Yam, chief executive of the Hong Kong Monetary Authority, in his weekly…
On the Long and Short of Central Bank Independence
This paper by Alberto Musalem of the International Monetary Fund finds that higher central bank independence increases fiscal discipline and results in lower inflation. However, it finds that higher central bank independence does not necessarily lead to…
Euro entry means democracy deficit-Swedish cbanker
Swedes would be less able to call the people who decide their monetary policy to account if the country joined the EU's single currency, the deputy governor of the country's central bank said on Mar 8, 2001.
No plan to drive yen lower, Hayami says
Bank of Japan Governor Masaru Hayami said on Mar 8, 2001 he was alert to the risk of a vicious deflationary cycle but firmly denied that he wanted to push the yen lower to induce inflation.