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China seeks HK expert to join central bank
China's Premier Zhu Rongji is seeking a Hong Kong banker to become a deputy governor of the country's central bank, a move which analysts say shows Beijing is serious about beefing up its regulatory control of the banking sector.
Effect of booming economy on US trade deficit
RESEARCH PAPER - The robust growth of the U.S. economy between 1996 and 1999 spurred U.S. demand for foreign goods and contributed to a surge in the U.S. trade deficit. An analysis by the New York Fed of the effects of the expansion on the trade balance…
Measuring regulatory success- by Alan Cameron
ARTICLE - Effective regulation cannot be measured by high-profile prosecutions or by counting boxes ticked. Financial regulators have much to learn from Professor Malcolm Sparrow's study of crime and environmental policing, argue Alan Cameron and Bill…
The rise and fall of consortium banks-by R Roberts
ARTICLE - Consortium banks, which flourished in the early "unregulated" years of the Euromarkets, have all but disappeared. Richard Roberts explains how concern about their stability prompted the BIS to develop the principle of "parental responsibility"…
Changing the guard on Capitol Hill-by Richard Hill
ARTICLE - Months after Bush's win, two of America's key regulators, the SEC and CFTC, are still without chairmen. In the latest issue of The Financial Regulator Richard Hill examines the likely nominees, and what the new Congress has in store for them.
US rebound likely later this year-McDonough,Moskow
William McDonough and Michael Moskow, in separate speeches on separate continents, said on Mar 8 that a rebound was likely later in 2001.
Performance of Norway's oil fund announced-Mar 9
Norway's Oil Fund will annouce its results on Mar 9, 2001 when it presents its annual report for 2000 at a press conference.
CBC gov favours listing of Taiwan firms in China
Perng Fai-nan, governor of Taiwan's central bank, said on Mar 7, 2201 that he personally endorses Taiwanese manufacturers that have set up companies in mainland China to get listed on the mainland's stock markets for fundraising purposes.
Solomons stares into economic abyss- cbank chief
The Solomon Islands is just weeks away from economic collapse, with a real risk the South Pacific nation will simply disintegrate, the country's central bank governor, Rick Houenipwela, warned on Mar 7, 2001.
RBA appoints Frank Campbell as assistant governor
The Reserve Bank of Australia has announced the appointment of Frank Campbell to the post of Assistant Governor, Corporate Services department.
China shareholding banks must reform further-PBOC
Shareholding commercial banks must be encouraged to further improve their corporate management structure and financial services to develop in a sound, steady way, said the governor of the People's Bank of China.
Hungary Jarai-wider euro/forint band in 12-18 mos
The Hungarian forint's trading band could be widened in 12 to 18 months, recently appointed central bank governor Zsigmond Jarai told business daily Vilaggazdasag in an interview published Mar 8, 2001.
Bank of England holds rates at 5.75% for now
The Bank of England left its key interest rate steady at 5.75 percent on Mar 8, declining to cut rates despite a deteriorating global economic outlook.
Bank of Greece to up 2000 dividend
Bank of Greece, the country's central bank, said on Mar 8 that net profit in fiscal 2000 rose 52 percent to 167.2 billion drachmas ($457 million) versus 110.1 billion in 1999.
BOI Desario-Mergers not the only way to efficiency
The Bank of Italy director general Vincenzo Desario said Mar 8, 2001 that bank mergers were not the only way to achieve efficiency and competitiveness in the banking system.
No plan to drive yen lower, Hayami says
Bank of Japan Governor Masaru Hayami said on Mar 8, 2001 he was alert to the risk of a vicious deflationary cycle but firmly denied that he wanted to push the yen lower to induce inflation.
Euro entry means democracy deficit-Swedish cbanker
Swedes would be less able to call the people who decide their monetary policy to account if the country joined the EU's single currency, the deputy governor of the country's central bank said on Mar 8, 2001.
On the Long and Short of Central Bank Independence
This paper by Alberto Musalem of the International Monetary Fund finds that higher central bank independence increases fiscal discipline and results in lower inflation. However, it finds that higher central bank independence does not necessarily lead to…
B-shares and China's monetary and banking systems
The removal of restrictions on the holding of B-shares should have a generally positive effect on the development of Mainland China's monetary and banking systems, says Joseph Yam, chief executive of the Hong Kong Monetary Authority, in his weekly…
Banking supervision-Alan Greenspan speech
Alan Greenspan said on Mar 7 it was not surprising that a weaker economy was making bankers wary about lending, but he urged them not to go overboard. "Lenders and their supervisors should be mindful that in their zeal to make up for past excesses they…
Efficient payments in the euro area-Wellink speech
Opening address by Dr A.H.E.M. Wellink, President of De Nederlandsche Bank NV, on the occasion of the "5th conference on pan-European cash & treasury management", held in Amsterdam on Mar 6 2001.
Fed says U.S. economy grew sluggishly early 2001
The U.S. economy grew at a "sluggish to modest" pace at the start of the 2001, helped by slightly stronger consumer spending as retailers cut prices to clear their shelves, the Federal Reserve said on Mar 7, 2001 in its Beige Book.
Mussa to step down as IMF economic counsellor
Michael Mussa is to step down as the IMF's Economic Counsellor and Director of the Research Department at the end of his current term in the position, Managing Director Horst Kohler announced on Mar 7, 2001.
Central banks use GSE debt to adjust portfolio-BIS
Central banks appear to be increasingly using agency securities in lieu of Treasurys to make necessary adjustments to their portfolios, the Bank for International Settlements said in a report released on Mar 5, 2001.