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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…
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.
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.
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.
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.
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.
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.
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.
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.
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…
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.
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.
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.
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.
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.
Salaries of CNB chiefs down almost 50%
The salaries of members of the Czech National Bank board will be lowered to almost one half starting next year as a result of the new amendments to the law on the central bank.
Principles for financial plumbers
Payment systems, the "plumbing" underpinning international capital markets, aretoo often ignored. John Trundle from the Bank of England, who recently helpeddevise new standards for payment system safety, explains what changes areneeded in the latest…
Combating harmful tax practices
The OECD wants to stop wealthier taxpayers leaving the poor to foot the tax bill. In the latest issue of "The Financial Regulator", Dr William Witherell, Director, Financial, Fiscal and Enterprise Affairs, OECD, addresses some misunderstandings about the…
Ten commandments for supervising mega-firms
If supervisors are to contain the risks posed by global financial conglomerates,urgent changes are needed. George J. Vojta, former vice-chairman of BankersTrust, proposes ten principles for supervising systemically important financialinstitutions.
Decoding the codes - is it worth the effort?
In the latest issue of The Financial Regulator, Lionel Price, Managing Director at Fitch Ratings, asks whether regulatory minimum standards can do the job expected of them.
Interview: Howard Davies
Following the passage of the Financial Services and Markets Act, the UK'sFinancial Services Authority is gearing up to assume full legal powers as the UK'ssingle regulator. In an exclusive interview, Howard Davies, FSA chairman andchief executive,…
Euro too weak for Britain - BoE's governor
Governor of the Bank of England Sir Edward George said Sunday that Britain cannot afford to contemplate joining the euro until it strengthens.
NBS approves draft bank law, 2001 money programme
The board of the National Bank of Slovakia today approved the monetary programme for next year and the draft law on banks which is designed to bring Slovak banking closer to the EU rules, Jan Onda, spokesman for the NBS, said to reporters.
No need to return to zero-rate policy - Miyazawa
Japanese finance minister Kiichi Miyazawa said Friday he does not think the Bank of Japan needs to restore its zero-interest-rate policy, although the economy needs to be watched carefully in the areas of personal consumption and employment.