Banks
BIS meeting - Central bankers wary of Iraq war
Central banks need to watch the situation in Iraq closely and be prepared to act to stop any war damaging a modest world economic pickup in 2003, Bank of England Governor Sir Edward George said on Monday at a regular BIS meeting in Switzerland.
Jamaica introduces deposit requirements
The Bank of Jamaica (BOJ) has instituted a so-called Special Deposit Requirement for commercial banks and institutions licensed under the Financial Institutions Act.
Russian central bank to withdraw foreign capital
This year the Russian central bank plans to significantly reduce its share in Russian foreign banks and will withdraw from their capital fully at the beginning of 2004.
Report to show Japan's banks failing capital test
A comprehensive study of Japan's financial system being carried out by the International Monetary Fund will reveal that the capital adequacy of a number of Japanese banks falls below international requirements, according to a former IMF economist.
Central bank pledges support for Saddam Hussain
At the end of the second conference for Iraqi banks on Monday the Governor of Iraq's central bank, Ossam Rashid Howash pledged his support for President Saddam Hussein.
Baghdad puts out the welcome rug for banks
Iraq, under economic sanctions for 11 years and faced with the threat of attack by the US, is trying to attract foreign banks to the country. That's the message Issam Racheed Hwaish, governor of the Iraqi Central Bank, laid out at the weekend as he…
No need to raise bank insurance cap - Fed's Olson
Federal Reserve Governor Mark Olson on Friday reiterated the U.S. central bank's opposition to raising the current $100,000 cap on insured bank deposits, saying such a move is not needed.
BOJ buys Y71bn worth of stocks from banks
The Bank of Japan (BOJ) had purchased 71.16 billion yen worth of stocks held by commercial banks as of Tuesday 10 December on a delivery-completed basis, the central bank said in a report released Thursday.
ECB's Issing warns of limits to transparency
There are limits to the degree of transparency that central banks are able to supply, European Central Bank chief economist and executive board member Otmar Issing said on Monday. He also noted that the introduction of the euro had raised peoples…
Why not a female Governor of the Bank of England?
ARTICLE - An interesting article looks at women in central banks and why so few make it to the top position. The article suggests central bankers like the power of knowing things which they can keep from the public but that women don't like playing that…
Welteke suggests ECB rates may be cut soon
A member of the European Central Bank's governing council suggested in comments published Friday that the bank could cut interest rates by as much as half a percentage point next week, more than a year after it last made a change.
ECB to study lending policies with survey
The European Central Bank will begin conducting a quarterly survey next year of credit policies practised by banks operating in the 12-nation euro zone. The move comes just days after the Irish central bank warned lenders to stick within guidelines.
Moskow expects US to hit growth potential in 2003
Michael Moskow has followed up Robert McTeer's comments we reported yesterday, saying the central bank's accommodative monetary policy will help US economic growth recover to full speed by next year. He is just the latest in a line of Federal Reserve…
Korea hosts EMEAP
The Bank of Korea began its 24th Executives' Meeting of East Asia and Pacific Central Banks (EMEAP) deputies on 25 November on the southern resort island of Cheju. It is expected that around 35 central bank deputy-governors and executives from EMEAP…
Reserve Management in an Era of Low Returns
RESEARCH - Although central banks have traditionally conducted their reserves management in a conservative and risk-averse way, the very low interest rates we see now have caused central banks, like other fixed income investors, to search for higher…
Serb payment reform to prompt new bank mergers
Yugoslavia will shift responsibility for payment systems in January 2003 to commercial banks and away from the state controlled central bank. The move towards a more competitive payment systems market is likely to prove a testing time for Serbia and…
Bank of Japan to begin share buying plan next week
JAPAN - Japan's shock move to purchase equities in a bid to solve the banks bad loans crisis will begin next week. Last week Japan's FSA brought further concern suggesting that the problem could have been underestimated by as much as Y13,000bn.
Indian banks cautioned on risks in e-banking
INDIA - The Reserve Bank of India has cautioned Indian banks about the inherent risk factors that accompany the introduction of high-tech electronic delivery system in the banking sector.
RBZ launches new payment system
ZIMBABWE - Starting on November 18, the Reserve Bank of Zimbabwe (RBZ) will introduce an electronic transfer and settlement system (ZETSS) that will link Zimbabwe's commercial banks in the movement of funds among participating banks using settlement…
Deflation may be the real danger for central banks
ARTICLE - Deflation or inflation - could the central bank guns be facing in the wrong direction? This article suggests that rather than worry about inflation, the major central banks could instead be preparing for a battle against the opposite, deflation.
Risk-profile onus falls on India's banks
INDIA - The RBI has rolled out Risk Based Supervision (RBS) for banks. The central bank has sent a template of prudential norms to all banks to independently measure their prudential status.
Mboweni takes inflation plan to the people
SOUTH AFRICA - South African Reserve Bank (SARB) Governor Tito Mboweni took the central bank's views on inflation to the public on Wednesday, stressing the bank would not try to meet its targets "at all costs".
Bies on effective accounting and disclosure
SPEECH - In the speech 'Effective Accounting and Disclosure for Financial Transactions and Financial Institutions' made on 7 November, Susan Bies of the Federal Reserve said a restoration of public confidence in the U.S. capital markets has begun, but…
Nigerian banks need code of operations, CBN chief
NIGERIA - Worried about recent experience in the global financial sector where corporate scandals have become the order of the day, governor of the Central Bank, Chief Joseph Sanusi, has asked banks to draw up a national code guiding operations of…