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Lithuanian and Polish cbanks sign supervisory deal
Governors of the central banks of Poland and Lithuania on Thursday signed an agreement to facilitate banking supervision between the two countries.
Amended CNB law worsens EU accession chances
The Chamber of Deputies today did not identify itself with the arguments of the European Commission and decided that the controversial amended law on the Czech National Bank will take effect on 1 January 2001, central bank spokesman Milan Tomanek told…
Welteke plays down EMU warnings ahead of Nice
Bundesbank President Ernst Welteke on Thursday played down his earlier warnings about allowing eastern European countries into the Eurozone too soon, just as a difficult summit on EU enlargement started in Nice.
Buba says many points in Basel Accord unresolved
Germany's Bundesbank said on Thursday regulators had left many points unresolved after meeting in New York this week to review changes to the Basel Accord on global banking regulations.
Fund seeks its own watchdog
The International Monetary Fund's Executive Board has named Ray & Berndstson, a US-based international executive search firm, to identify candidates for the position of Director of the IMF's newly created independent Evaluation Office.
Klein: Violence won't alter Israel monetary policy
David Klein, the governor of the Bank of Israel, gave a speech today in which he reiterated his view that the current unrest in Israel will not result in a change in current Bank of Israel monetary policy.
Lithuania should keep currency board - NBP chief
Lithuania should keep the currency board model as long as the situation of country's economy is unclear, the president of the Polish central bank said in the Vilnius conference on Thursday.
Ex-Greenland staff sue Bank of Uganda
Four hundred and eight former employees of Greenland Bank have sued the Bank of Uganda and their former employer for non-payment of gratuity, pension and terminal benefits.
Nigeria pressurises banks to reduce interest rates
The Central Bank of Nigeria has mounted pressure on commercial and merchant banks to reduce their lending interest rates.
Macedonia seeks bigger share of Yugoslav gold
Governor of the Central Bank of Macedonia Ljube Trpeski said that Macedonia and Bosnia-Herzegovina will request the Bank for International Settlements in Basel to change the formula for sharing of foreign currency reserves in gold of the former National…
HKMA seeks right to approve senior bank staff
Hong Kong's quasi-central bank Monday proposed a regulatory change which would give it the power to approve the appointment of senior management at the city's banks.
Fujiwara-Can't say if return to zero rate possible
Bank of Japan deputy governor Sakuya Fujiwara said on Thursday he could not say whether it was possible to return to a policy of guiding the key overnight call rate virtually to zero.
Netherlands: Discord over bourse policing
Supervisors of financial institutions in the Netherlands disagree over the division of tasks over the control of share trading. The conflict centres on the role of the Dutch securities board with regard to institutions which fall under one of the other…
Riksbank hikes rates, policy stance to neutral
The Riksbank said that its 25 basis point hike that raised the repo rate to 4.0% Thursday was based on its new assessment that inflation would rise above the central bank's 2% limit in two year's time in the absence of tighter monetary policy.
Welteke - cannot say yet if euro turned around
Bundesbank President Ernst Welteke on Thursday said he could not tell whether the euro has already turned the corner, adding that the currency's further performance depended on US economic growth.
RBI governor favours flexible inflation target
Central bank inflation targets should be flexible to allow for varying economic conditions, Reserve Bank of India governor Bimal Jalan said Thursday.
UK supervisor warns banks over telecom exposure
Britain's financial regulator on Thursday intensified pressure on banks to display vigilance in managing their multi-billion dollar exposure to the telecom sector.
Pakistan banks told to double capital base by 2003
Pakistan has told banks to double their minimum paid-up capital to one billion rupees ($17.2 million) by the start of 2003.
Korea c.bank says holding rates for now
Korea may cut interest rates to ward off a sharp economic downturn but only if prices remain under control, Bank of Korea Governor Chon Chol-hwan said on Thursday.
Ex-Fed Blinder - Japan needs cheaper yen
Alan Blinder, a former deputy chairman of the Federal Reserve, said Thursday Japan ought to boost demand by making its currency cheaper.
Cyprus prepares to dismantle interest rate regime
Cyprus is preparing a major shake-up of its financial markets in January to remove measures left over from its days as a British colony and to shore up its economy prior to joining the European Union.
Yugo banks told to prepare for international audit
Yugoslavia's central bank told commercial banks on Wednesday to prepare for international auditors as monetary authorities tried to assess the banking sector ahead of planned reform.
El Salvador makes way for US dollar general use
El Salvador is making final preparations to introduce the US dollar into general use in January, importing the US currency and training bank employees how to avoid money laundering and counterfeit schemes, officials said on Wednesday.
Fed's Ferguson says US economy risks balanced
The risks to the US economy are evenly balanced between the dangers of an excessive slowdown and an inflationary overheating, Federal Reserve Vice Chairman Roger Ferguson said on Wednesday.