Central Banking
Belgrade sees progress in dividing ex-Yugo gold
Yugoslavia said on Monday it hoped to quickly reach a deal with other members of the old six-member Balkan federation on dividing up gold assets held with the Bank of International Settlements.
Estonia cbank, govt clash over finance supervision
The Estonian central bank has said the finance ministry had unexpectedly decided to create a unified financial supervision body with the government, and was sharply critical of the plan.
Latvian central bank intervened in currency market
The Bank of Latvia has intervened in the currency market and sold $3.5m, Andrejs Viks, central bank currency operations foreign reserves portfolio head said.
Sri Lanka mkt surprised by rupee band adjustment
The Sri Lankan central bank's third one-off adjustment of the rupee trading band Monday - amid rocketing import costs - took the markets by surprise once again.
BoE worries about banks exposure to telecoms
The Bank of England is expected to express concern at the level of debt run up by telecoms companies, the UK's Telegraph newspaper said on Monday.
Brazil delays prospectus for Bepi and BEM
After the headache caused by the problems with economic and financial evaluations, the central bank decided to wait and postponed publication of the prospectuses to contract the company that will put together the sale model and perform the financial and…
Brazil: new central bank should follow UK model
The plan for the "new" Central Bank of Brazil, elaborated by the government, is ready and will be sent to Congress at the beginning of 2001.
Buba's Reckers-no need for change in ECB rates
Bundesbank council member Hans Reckers said on Monday that the European Central Bank had no need to change interest rates in the foreseeable future.
Pakistan cbank says govt must meet IMF terms
Pakistan's central bank warned the government on Monday that it must strictly implement tough conditions set under an International Monetary Fund loan programme to avert a balance of payment crisis.
Banks to support Turkey, won't cut exposure - IMF
Banks engaged in Turkey will not reduce their financial exposure to the country, a senior International Monetary Fund official said on Monday.
Slovenia to ease portfolio investment rules
The Bank of Slovenia said on Monday it would ease restrictions for foreign portfolio investment next month as part of its drive to harmonise its regulations with those of the European Union by the end of 2002.
Economic indicators are positive - Pakistan cbank
Vital economic indicators have shown positive development during the first quarter (July-September) of the 2000-2001 fiscal year, Pakistan's central bank said Monday.
Cambodia central bank closes 11 commercial banks
The National Bank of Cambodia has closed 11 commercial banks that failed to comply with the minimum capital requirement set by the new banking law, according to the Cambodia Daily on Monday.
Lithuanian, Polish national banks to cooperate
Heads of the Lithuanian and Polish central banks, Reinoldijus Sarkinas and Hanna Gronkiewicz-Waltz, have signed an agreement on the mutual cooperation in the sphere of the supervision of banking activities.
Litas to be pegged amid preparations for EU
Lithuania, while preparing for its membership in the European Union, plans to keep litas pegged to dollar and later to euro, the board of the Bank of Lithuania announced after discussing its participation in the processes of Lithuania's preparation for…
China to put gold mkt In Shanghai, timing unclear
Central bank officials Monday said China's first communist-era gold market will be set up in Shanghai, but they declined to say when.
Malaysia banks gear up to tie merger knot
Malaysia's most ambitious financial sector consolidation takes shape from January when most of its banks finally tie the knot in government-ordered unions to fight foreign competitors.
Friedman v. Mundell on exchange rates
Canada's Financial Post asked the two Nobel laureates Milton Friedman and Robert Mundell to participate in an exclusive e-mail debate about each other's views on modern day economics. Below we reprint the debate which was publish in the Financial Post on…
Fed likely to pass buck on predatory lending
An article published in the American Banker journal says that consumer groups hoping for the Federal Reserve Board to start cracking down on predatory lenders may be sorely disappointed when the central bank takes up the issue Wednesday.
HKMA, HSBC beef up anti-counterfeiting measures
Hong Kong's quasi central bank the Hong Kong Monetary Authority and the Hong Kong & Shanghai Banking Corp. unveiled Monday new security features to combat widespread counterfeiting of Hongkong Bank's HK$1,000 notes.
Iran central bank allocates $1bn to private sector
Central Bank of Iran announced that it has allocated $1bn to the private sector. The money was drawn from the foreign exchange reserve fund which was set up to deposit surplus oil revenues.
Bk Indonesia to adopt risk-based bank supervision
Bank Indonesia will gradually shift its banking supervision system from the current compliance-based mechanism to include the internationally practiced risk-based system starting next year, according to a senior official at the central bank.
Clock keeps ticking on naming new BoC head
Time is running out for Gordon Thiessen's term as Bank of Canada governor, and there is still no official word concerning who will become his successor.
EC put pressure on Germany's Landesbank reform
The following is an article from The Economist magazine entitled "Under pressure from the European Commission, Germany's public-sector banks are thinking openly about reforming themselves."