Central Banking
Computer support for reserves managers-Nugee
RESERVE MANAGEMENT - Deciding on the right level of computer support for reserve managers in a world of fast changing technology often makes it preferable to outsource some IT provision, says John Nugee, former head of reserve management at the Bank of…
Ex-Bundesbank chief Poehl - time ripe for ECB cut
EUROPE - Former Bundesbank President Karl Otto Poehl thinks the European Central Bank should cut interest rates in the face of slowing economic growth, he told a Swiss newspaper in an interview published on Mar 28, 2001.
Euro-MP says Czechs must change central bank law
CZECH REPUBLIC - The chairwoman of a European Parliament committee said on Mar 28 that a new Czech law increasing politicians' influence over the central bank must be amended to bring it into line with European Union treaties.
CBR asks government to repay its debts
RUSSIA - Bank of Russia recorded a pretax profit of about R4bn for 2000, Governor Viktor Gerashchenko reported, but the government still needs to repay its debt to the central bank.
Bank of Greece searches for Milosevic millions
GREECE - The Bank of Greece is investigating several Greek banks suspected of receiving funds laundered by Slobodan Milosevic, the former president of Yugoslavia.
Irish cbank sees 2001 growth slowing to 7%
IRELAND - Ireland's central bank said on Mar 28, 2001 it expected the booming Irish economy to experience a slowdown in 2001 GNP growth to around 7.0%, compared to growth of 9.75% in 2000.
RBA launches newly designed website
AUSTRALIA - The Reserve Bank of Australia has launched a major redesign of its website at www.rba.gov.au, increasing the quality and quantity of information, and the ease of access.
BoK criticises govt for interfering in mon policy
SOUTH KOREA - The Bank of Korea has criticized the government for its regular interference in the country's monetary polices.
Asian forum Manila Framework Group meets in China
CHINA - The Manila Framework Group regional financial forum started a two-day meeting in Beijing on Mar 28, 2001 to discuss a range of issues including the impact of the slowing U.S. economy, organisers said.
Former Philippine c. bank chief made consultant
PHILIPPINES - Former Philippine central bank governor Gabriel Singson has been appointed presidential consultant on banking and foreign loans, a presidential palace statement said on Mar 28, 2001.
Outgoing Slovenia c.banker warns against inflation
SLOVENIA - Slovenia's outgoing central bank governor France Arhar said on Mar 28, 2001 the country should limit the growth of wages to battle high inflation.
BOE Julius to leave central bank in 2 months-FT
UNITED KINGDOM - DeAnne Julius, one of the most dovish members of the Bank of England's rate-setting Monetary Policy Committee, is poised to leave the central bank in two months.
Poland cuts interest rates by 100 bp
POLAND - Poland's Monetary Policy Council (MPC) cut its interest rates on Mar 28, 2001 by 100 basis points to between 17 and 21 percent, the National Bank of Poland said in a statement.
Fitch cuts Czech currency rating, crown hit
CZECH REPUBLIC - International rating agency Fitch on Mar 28, 2001 cut the Czech Republic's long-term local currency rating, knocking the crown off recent historic highs, though analysts said the currency's firming trend remains.
S.Africa govt says gradual reduction of NOFP best
SOUTH AFRICA - South Africa's Treasury said on Mar 28, 2001 it was committed to steadily reducing its uncovered forward foreign exchange exposure and would not borrow massively abroad to do so.
Malaysia's cbank annual report-growth 6% in 2001
MALAYSIA - Malaysia's economy will expand by around 6% in 2001 with the help of the new 3 billion ringgit supplementary budget announced Mar 27, 2001, the central bank said in its annual report Mar 28.
US Fed urges bankers to disclose more
SUPERVISION - In an advisory letter on Mar 23, 2001, the Federal Reserve Board urged large banking organizations to adopt a high-level, private-sector working group's recommendations for broader and more frequent public disclosures as a way to improve…
New measure of core inflation in the UK-BoE paper
CENTRAL BANK RESEARCH - The Bank of England's monetary policy committee research unit has published a paper which addresses the usefulness of measures of core inflation. The paper, commissioned by external MPC member DeAnne Julius, uses an 'improved'…
ISRAEL-New government's first steps-Klein speech
SPEECH - David Klein, governor of the Bank of Israel, gave a speech on Mar 23, 2001 titled "Economic Policy: The New Government's First Steps". He warns the new government to take heed from lessons from the past and not to expect too much from monetary…
G10 payment systems 1999 statistics-BIS report
BIS REPORT - The Committee on Payment and Settlement Systems at the Bank for International Settlements has published "Statistics on Payment Systems in the Group of Ten Countries: Figures for 1999". This is an annual publication that provides data on…
Fed survey: US banks growing wary of lending
UNITED STATES - A special survey conducted by the Federal Reserve reveals that credit terms from US banks have continued to tighten since January
ECB working papers for March 2001
CENTRAL BANK RESEARCH - The European Central Bank has published four refereed working papers in March, subjects ranging from financial market integration in the Eurozone, deposit insurance and the effects on moral hazard, to modelling the term structure…
Fast-tracking EU securities market reform-Bishop
LAMFALUSSY REPORT - At the Mar 23/24 Summit, EU leaders succeeded in offering the European Parliament a compromise that should be acceptable, clearing the way to rapid action on the Lamfalussy Report on securities markets regulation, reports Graham…
Duisenberg to give way to Trichet mid-02-Lemierre
EUROPE - The European Central Bank on Mar 27, 2001 declined to comment on remarks by a senior European banker suggesting ECB President Wim Duisenberg will step down in mid-2002 to make way for Bank of France head Jean-Claude Trichet.