Central Banking
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
Russian bankers to participate in symposium
A delegation of Russian bankers and economists will participate in a three day symposium in India beginning on Mar 22, 2001.
Propping up the rupiah was 'right move'-deputy gov
Bank Indonesia has made the right move in propping up the rupiah, BI Deputy Governor Miranda S Goeltom said on Mar 22, 2001.
Swiss franc falls following SNB loosening
Following the SNB's rate cut yesterday the swiss franc has dropped on forex markets.
Predictable Uncertainty in Econ Forecasting-US Fed
RESEARCH PAPER - Neil R. Ericsson has written an paper titled "Predictable Uncertainty in Economic Forecasting" for the US Federal Reserve's series of International Finance Discussion Papers. This paper provides an introduction to predictable forecast…
S'pore sets new rules for bank private investments
SPEECH - Singapore's central bank said on Mar 21, 2001 it was proposing new rules for bank investments in private equity and venture capital that will allow flexibility while maintaining prudent standards. Ravi Menon, executive director of the Monetary…
The New Economy: Myths and Realities-Wadhwani
SPEECH - In his Travers Lecture at the London Guildhall University on Mar 20, 2001, Sushil Wadhwani, an external member of the Bank of England monetary policy committee, argues it is possible that measurement issues have led forecasters to overestimate…
Turkish cbank to adopt monetary policy committee
SPEECH - In his first speech as governor of the Central Bank of Turkey on Mar 19, 2001, Sureyya Serdengecti discusses the continuing liquidity problems faced the the country's state bank and how this is hampering the implementation of monetary policy. He…
Financial competition, risk and accountability
BOOK - A new book has just been published by Palgrave "Financial Competition, Risk and Accountability: British and German Experiences" edited by Frowen and McHugh. Recent decades have seen a sharp increase in financial competition and excessive risk…
Economic impact of regulatory reform - ECB paper
RESEARCH REPORT - Over the past couple of years, the European Union has embarked on an ambitious regulatory reform programme covering a number of network industries. Experts from the European Central Bank have prepared a report which analyses the…
ECB's Liebscher calls for c.bank supervisory role
SPEECH - ECB council member Klaus Liebscher called for Europe's national central banks to continue to play a key role in banking supervision, saying their close contact with commercial banks helped to prevent crises.
Fed disappoints markets with 50 bp rate cut
The US Federal Reserve cut interest rates on Mar 20, 2001 by half a percentage point to 5.0%, continuing its aggressive effort to resuscitate the faltering economy but disappointing investors who had hoped for more.
China c.bank chief urges banks to curb bad loans
China's central bank chief Dai Xianglong urged state-owned banks to reduce bad loans and repeated a ban on loans being funnelled to stock speculation, the official Financial News said on Mar 21, 2001.