Financial Stability
Why price stability is not enough
The current fashion for inflation targetting ignores the perils of asset bubbles, and cannot react adequately to the fallout. A much longer view is needed, contends Stephen King.
Review of Making Money, An Insider’s Perspective on Finance, Politics, and Canada’s Central Bank
Ben Mander enjoys the new book by a former governor of the Bank of Canada
Central role for ECCB
Michael Imeson looks at the economic problems facing the Organisation of Eastern Caribbean States, and what the Eastern Caribbean Central Bank is doing to help stimulate development.
The benefits of a broader Basel
Ignoring the benefits of a diversified portfolio will penalise developing markets, argue Stephany Griffith-Jones, Stephen Spratt and Miguel Segoviano.
How a central bank should talk
Tony Morrison of the Bank of Jamaica gives his view on how central banks should deal with the media. Reticence is not the answer.
Leadership and management of central banks
“Almost by definition, central banks lack comparative advantage in managing organisational change”, argues John Mendzela. In the second of two articles, he outlines measures of efficiency and performance.
How to reform the stability and growth pact
Willem Buiter proffers his alternatives to the “stupid” arrangement.
Interview: Mladjan Dinkic
Yugoslavia’s speedy economic recovery from the Milosevic era has been achieved with a programme of radical reforms by a governor prepared to take risks. The governor discusses the implications of the creation of the new state union of Serbia and…
Venezuelan, Colombian cbs agree on payment system
Following meetings between central bank officials from Venezuela and Colombia, a system has been agreed which will control and guarantee payments for Colombian exports to Venezuela.
Fed plans to change its check operations
The Federal Reserve System moved Thursday to streamline its behind-the-scenes check-processing operations, citing Americans' increasing use of debit cards and other electronic payment options to pay bills. The move is likely to lead to several hundred…
Maharishi Yogi's cash legal, says Dutch bank
The Dutch central bank said on Tuesday that an organisation founded by Beatles guru Maharishi Mahesh Yogi had not violated the law by issuing and using its own currency in the Netherlands.
RBI installs cutting-edge currency machines
The Reserve Bank of India (RBI) governor Bimal Jalan on Wednesday inaugurated the currency verification and processing system (CVPS) in RBI's Mumbai office. The system is part of the central bank's drive to weed out currency notes and replace them with…
Nyberg on the Swedish card payment market
SPEECH - In the speech 'The Swedish Card Payment Market - Current Challenges and Future Developments' Lars Nyberg of the Sveriges Riksbank said Swede's are great lovers of cash and prefer to use debit rather than credit cards. Nyberg says that as far as…
Sveriges Riksbank Press Release
PRESS RELEASE - Direct changeover from 2006 lessens the risk of payment system disturbances, 3 February.
Settlement link - HKMA and Clearstream goes live
The Hong Kong Monetary Authority said Tuesday a direct link between its transaction settlement system and Europe's Clearstream system has gone live.
Clearing risks
ARTICLE - Following the publication of the G30 report last week this article describes the report as both wise and practical and it will serve as a road map that the many actors from the private and public sectors can use to reach the common destination…
G30 proposes payment system security revolution
The Group of Thirty have announced proposals for far-reaching reform of the global securities markets. The highly influential group, made up of prestigious members of the central and private banking community, has drawn up a detailed and comprehensive…
Thailand to get faster cheque clearance system
The Bank of Thailand will reduce the timeframe for inter-provincial cheque collection to three days from six, starting on 14 February.
Bergo on Norwegian payment system efficiency
SPEECH - In the speech 'Efficiency in the Norwegian payment system' Jarle Bergo of Norges Bank said Norway has received praise for the efficiency of its payment system. However, Norway has decided to modernise the current settlement system because the…
Bank of Estonia prepares for ECB transfer system
The Bank of Estonia has launched preparations to accession to TARGET, the Trans-European Automated Real-time Gross settlement Express Transfer system of the European Central Bank.
Indian bank unveils first mobile ATM
ICICI Bank has taken technology one step further with the launch of its first mobile automated teller machine (ATM). The bank has got the Reserve Bank of India (RBI) approval for the mobile ATM in Punjab. "We have also applied for mobile branch licences…
ECB may issue €1 note to help curb price rises
The European Central Bank is to discuss the idea of introducing one euro banknotes as a possible way to curb inflation. However, the high velocity of circulation of low value notes coupled with higher production costs would make this an expensive option.
Australian credit-card case clears first hurdle
The potential complexity of Visa and MasterCard's landmark legal action against the Reserve Bank of Australia over credit-card reforms was underscored on Wednesday when the parties spent the day resolving how confidential information from 50 third…