Central Banking
Georgian c.bank head sees stable lari, IMF loans
Georgia's lari currency should be stable next year, enabling the country to meet conditions to unlock loans from its largest creditor, the International Monetary Fund, the central bank governor said in an interview with Reuters.
Bank of Italy calls for action on usury ruling
Italy's central bank called for the government to take urgent action to soften the impact of a court ruling that could force banks to pay as much as 50 trillion lire to consumers who paid too much interest on home loans.
Zeti gives Dec. 31 as deadline for bank mergers
Bank Negara governor, Datuk Dr Zeti Akhtar Aziz said today that the December 31 deadline for bank mergers remained unchanged.
Fed Parry says economy growing at sustainable pace
Federal Reserve Bank of San Francisco President Robert Parry said on Tuesday that the US economy had shifted into a more sustainable growth range in recent months and that employment growth had moderated.
Venezuela 'overdrive' plan still not in effect
Venezuelan President Hugo Chavez acknowledged Tuesday that a $2.1bn government spending plan he announced two months ago to spur economic growth had still not taken effect.
ECB publishes revision of Eurosystem instruments
The European Central Bank Tuesday said it has published its revision of Eurosystem monetary policy instruments and procedures.
Kenya bill to control bank interest rates passed
Kenya's parliament today passed with amendments the Donde bill that seeks to regulate interest rates charged by commercial banks.
Bangladesh Bank to increase forex reserves
Bangladesh Bank, the country's central bank, has launched a vigorous move to replenish the country's emaciated foreign exchange reserve by relaxing its regulation on remittances, the United News of Bangladesh reported on Tuesday.
Italy govt prepares to defuse bank loan crisis
Italy's government on Tuesday prepared to defuse a potential crisis threatening the country's banks, which may have to refund customers huge amounts of loan interest payments after a Supreme Court ruling.
Vietnam banks dispute compulsory reserve ratios
Commercial banks have criticised the central bank's increase of the compulsory ratio of deposit reserves from this month from 8% to 12% for call and less than 12-month deposits in the dollar.
Oman cenbank plans Electronic Fund Transfer system
Oman's central bank proposes to introduce Electronic Funds Transfer system to facilitate faster and accurate domestic inter-bank payments.
House okays new Philippines Central Bank Act
The Philippines House of Representatives approved on second reading Tuesday evening, a measure introducing amendments to the Central Bank Act. Representatives said the new Central Bank Act would improve the Bangko Sentral's effectiveness and strengthen…
Irish hoarding of coins poses euro problem
The image of the Irish hoarding their untaxed earnings under the mattress may be apocryphal, but a study published on Monday estimated that as much as I£30m (E38.1m) in coins may be kept in jam jars, glass bottles, biscuit tins even in shoe boxes.
Broaddus says US economic outlook extremely cloudy
A Federal Reserve policymaker said Monday the US economic outlook is growing increasingly murky but he said he remains confident the economy will avoid a recession or an inflation outbreak the coming months.
Buba's Stark - US growth slowdown coming true
Bundesbank deputy president Juergen Stark said on Monday he was pleased with the euro's appreciation and said the slowdown in US economic growth appeared to be materialising.
Former Ukraine bank governor under investigation
An investigation into the alleged misuse of funds by the former first deputy chairman of the National Bank of Ukraine, Volodymyr Bondar, is under way, Ukrainian television's Third Programme reported.
Hungary cenbank council may become dysfunctional
The supervisory board of the National Bank of Hungary is concerned that the central bank council may become unable to function and make decisions after 20 February 2001, according to the daily Vilaggazdasag.
Czech govt recognises Tuma as c.bank head-for now
The Czech government agreed on Monday to recognise last week's appointment of Zdenek Tuma as the country's central bank governor for the time being, easing tensions over the naming by President Vaclav Havel last week.
BoE Allsopp - tighter fiscal stance needed
The British government should tighten its tax and spending plans if it wants lower interest rates, Bank of England rate-setter Christopher Allsopp said in a book published Monday.
Bank urges balancing act over payments competition
The Bank of England has warned the UK government that its plans to increase competition in the payments business must be balanced by the need to preserve the stability of the financial system.
Lawyers dispute over PM's decision on new CNB head
The possibility that the appointment of the new Cezch central bank governor must be blessed by the prime minister has given rise to disputes among experts, who are not able to reach agreement on whether the counter-signature of a cabinet member is…
Indonesia to issue fresh bonds to help banks
Indonesia will issue new bank bail out bonds with higher interest rates next week in the hope of kick-starting a secondary bond market and resurrecting their $68.8 billion banking rescue effort.
Fed helps Bank with rate study
The Bank of England, the UK central bank, has commissioned an investigation by a senior official of the US Federal Reserve to assess the way it sets interest rates, says an article in today's Financial Times.