Banks
Europeans aim for joint rate rises
UK - Europe's central banks are set to raise interest rates simultaneously on 6 June, say leading economists. The Bank of England, the European Central Bank and the Swedish Riksbank are likely to hike rates at their respective policy-making meetings in…
Banco de Brasilia fails central bank online test
BRAZIL - Brazilian bank Banco de Brasilia topped the central bank's online consumer complaint ranking in April, knocking financial group Grupo Santander Brasil from first to second place, according to information published on the central bank's site.
Outgoing MPC member criticises B of E rates record
UK - The Bank of England would have delivered a significantly more impressive performance on both growth and inflation if interest rates had been kept lower over the past few years, according to research carried out by Sushil Wadhwani, a soon to depart…
Argentina central bank chief 'may resign' rumour
ARGENTINA - Rumours that Central Bank Chairman Mario Blejer is considering stepping down were circulating among banks yesterday, newspaper Clarin reported.
Argentina fears new bank closures
ARGENTINA - Argentina's economy minister moved Sunday to soothe fears that the country's banks were too unstable to open, saying "the financial system is working solidly."
Greenspan urges banks to rely on risk management
US - Federal Reserve Chairman Alan Greenspan said Friday that commercial banks and banking regulators need to rely more on the emerging field of risk management to control loan defaults during periods of economic weakness.
New government to re-examine off-shore banking law
BAHAMAS - The Bahamian government will re-examine new laws tightening regulation of secretive offshore banks to reduce costs and red tape, The Jamaican Observer quoted Bahamas' deputy finance minister as saying.
Duisenberg - ECB wants supervision structure role
GERMANY - European Central Bank president Wim Duisenberg said the ECB wants to play a key role in any move to increase cooperation between central banks and other financial sector supervisory authorities in the euro zone. He also spoke on Le Pen's threat…
Bush expected to name Fed nominees - Report
USA - U.S. President George W. Bush is expected to nominate Princeton economist Ben Bernanke and Federal Reserve official Donald Kohn to the central bank's board, sources apparently told Reuters on Tuesday. A White House spokeswoman on Tuesday declined…
China's c bank steps up supervision on e-banking
CHINA - The People's Bank of China is requiring both local and foreign commercial banks to provide quarterly reports on their online banking operations in China, a PBOC notice issued on 23 April said.
Argentina's banks re-open to chaotic scenes
ARGENTINA - Argentina's banks and financial markets reopened on Monday after a 10-day emergency shutdown.
Thailand eases bank credit-card rules
THAILAND - Thailand's central bank Friday announced it has eased rules and regulations governing commercial banks' credit-card services in order to promote competitiveness and improve the quality of service.
ECB stands in contrast to Bank of England
FEATURE - Tuesday's London edition FT reports on the difficulties central banks can face in identifying and maintaining ideal inflation targets.
Argentine Peso will not be fixed, says Lavagna
ARGENTINA - Argentina's banks and exchange markets will open today for the first time in nine days, as the new economy minister, Roberto Lavagna, attempts to calm fears of a wholesale collapse of the financial system.
Dep gov, Thomopoulos, interested in becoming chief
GREECE - Bank of Greece's depupy-governor, Panagiotis Thomopoulos, on Friday expressed his interest in replacing Mr Lucas Papademos at the central bank's head.
PBOC to regulate online banking in China
CHINA - Banks opening online-banking services for the first time need to have their headquarters file an application with the People's Bank of China (PBOC), its branches or business-management departments, according to interim measures regulating online…
Argentina tightens banking freeze
ARGENTINA - Argentina's Congress has passed a law aimed at rescuing the country's banks by making it more difficult for savers to withdraw their cash.
An overview of the Federal Reserve System
FEATURE - In an interesting article Hoover's Company Profiles look at the history of the Federal Reserve. The Federal Reserve Act followed the panic which ensued after the failure of New York's Knickerbocker Trust Company in 1907. J. P. Morgan strong…
No need for more transparency at ECB says Noyer
BELGIUM - European Central Bank Vice President Christian Noyer said on Tuesday there was no reason for the time being to increase the banks transparency by publishing minutes of the ECB's closed-door meetings, but did not rule it at some point in the…
BOK encourages payments made via internet
SOUTH KOREA - The central bank is encouraging people to make payments of bills for taxes and public utility services through the Internet due to its convenience and efficiency, in the midst of banks' reluctance to handle such dealings at their windows.
Brazil's central bank aids debut of new SPB today
BRAZIL - The Central Bank reduced the interest rate charged banks in one-day rediscount operations from 6% to 1% a year, plus the variation of the Selic basic interest rate.
Basel Committee Publications No. 89
REPORT - Sharing of financial records between jurisdictions in connection with the fight against terrorist financing, April 2002.
FX traders to kiss goodbye to settlement risk
FEATURE - Currency traders, more aware of the potential for disruption in the financial system after September 11, should draw comfort from a long-awaited settlement system linked to central banks that is due to go live this year.
Croatia moves to restore confidence in banks
CROATIA - The Croatian National Bank is seeking to restore confidence in the country's banks after politicians suggested a trading scandal might have affected more than one bank.