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ECB has own idea of optimal fx reserves-Issing
European Central Bank (ECB) member Otmar Issing said he felt the amount of foreign reserves held in the Eurozone was well within the range of estimates, but was evasive on whether this constituted an optimal level.
Power strike won't affect payment systems-BOK
Money transfers and financial settlements will be unaffected by a strike threatened by Korea Electric Power Corp.'s union on Thursday, according to the Bank of Korea.
House and BSP agree on taxable income
The Philippines Bangko Sentral has reached an "agreement in principle" with the House of Representatives over its taxation status in the Revised Central Bank Act currently being deliberated on by Congress.
UAE central bank counters money laundering
The United Arab Emirates central bank has issued a list of regulations and procedures to all financial institutions to prevent money laundering through the country's financial system.
Banks await RBI governor speech at forex meeting
Indian foreign exchange market players are eagerly waiting to see if the Reserve Bank of India makes any direct or indirect comments on the foreign exchange markets and interest rates at the 21st Asia-Pacific Forex Congress.
HKMA urges Hong Kong banks to go green
Hong Kong's quasi central bank Wednesday called on the city's banks to sign a United Nations environmental awareness statement, and to consider producing their own formal environmental policy statements.
BSP chief sees November inflation at 5%-5.5%
November inflation is expected to come in at between 5% and 5.5% due to a weaker peso, the Bangko Sentral Philippines yesterday said.
RBNZ wants words to talk louder than numbers
New Zealand's Reserve Bank Wednesday announced changes to the format of its quarterly monetary policy statements, underscoring its desire to shift public focus of its monetary policy away from the short to the medium term.
Gold as part of diversified investment plan
Including gold in a diversified portfolio can improve investment performance and make the investment better able to cope with shocks to the system. World Gold Council institutional investment head Dr Robert Weinberg said gold can improve investment…
Russia needs unified supervisory rules -Motorin
According to Russia' deputy finance minister Mikhail Motorin, it is necessary to establish a supervisory system that would operate according to unified rules and control activities of the Federal Securities Commission, insurance companies, and private…
Belarus c.bank to cut key rate to 80% 1 December
Belarus's central bank said on Wednesday it would lower its key refinancing rate to 80% annually from 85 percent, effective December 1.
Romanian c.bank to cut min. reserve rates-bankers
Romanian commercial bankers said on Wednesday the central bank was expected to gradually cut the rate on minimum reserve requirements starting this year.
Kenyan parliament passes bank bill on 2nd reading
Kenya's parliament passed a controversial bill seeking to regulate commercial bank loan rates on its second reading on Wednesday, but politicians said amendments would be tabled to the bill on Thursday.
Sarkissian: Price stability will be maintained
The head of Armenia's central bank said that stability in the financial markets will be maintained when the government spends 8 bln drams from the privatisation fund in order to cover social expenses and other financial inflows in December 2000.
IMF concerns over Indonesia's slow pace of reform
The Indonesian rupiah ended lower in Asian trade Wednesday on news that the International Monetary Fund has set a December deadline for Jakarta to show it's serious about economic reform.
Bbk Zeitler: Continue reforms to reverse weak euro
The euro's current weakness is "completely surmountable" if national governments in the 11-nation euro area continue to press ahead with structural reforms, Bundesbank council member Franz-Christoph Zeitler said Wednesday.
Thai c.bank says dlr/baht market back to normal
The Bank of Thailand said on Wednesday the dollar/baht market had returned to normal after gridlock over the past week as onshore banks scrambled to pare credits to offshore counterparties and funding costs soared.
Malaysia can keep lid on interest rates - Zeti
Malaysia can keep a lid on interest rates because of its low inflation and monetary policy is likely to remain accomodative to growth, Bank Negara governor Zeti Akhtar Aziz said on Wednesday.
Czech pres officially appoints Tuma bank governor
Czech President Vaclav Havel Wednesday officially appointed Zdenek Tuma as the new governor of the Czech National Bank at a ceremony at the presidential summer palace.
Vietnam clarifies rules on loan loss provisions
Vietnam's central bank has issued a regulation clarifying how commercial banks must calculate and put aside their loan loss provisions, a central bank official said Wednesday.
Vietnam's bad and overdue debts 11.7% of loans
Vietnam's "bad, overdue and uncollectible debts," now total 11.7% of the country's total outstanding loans, central bank governor Le Duc Thuy said Wednesday.
Belgium growth at 3.1% in 3Q down on 2Q
The Belgian economy grew 3.1% on the year in the third quarter, down from 4.6% in the second quarter and from 3.5% in the third quarter of 1999, the Belgian National Bank said Wednesday.
Rules for credit cards loosened by Thai regulator
Applying for a credit card has become easier after the Bank of Thailand eased minimum age and salary requirements for new cardholders.
Japan regulator suggests bank limit stock sales
In an attempt to stop Japanese banks from dragging the stock market down, Hideyuki Aizawa, head of Japan's Financial Reconstruction Commission, will call on banks to restrict the sale of their stock portfolios.