Reserves
Argentine ctrl bk moves to fight drop in deposits
ARGENTINA - Argentina's central bank will order local banks to repatriate $1.9 billion of the loan loss reserve funds they have deposited in a Deutschebank account in New York City to inject more funds into the nation's money markets and keep interest…
Brazil c bank mulls use of derivatives on forex
BRAZIL - Brazil's central bank is considering the use of derivatives to intervene on the foreign-exchange market as of May 2002, daily O Estado de S. Paulo said Thursday.
Russian central bank gold deal with private bank
RUSSIA - Alfa Bank plans this year to buy nearly 30 tonnes of gold and 200 tonnes of silver, a bank source said.
Blow to Argentina debt plan
ARGENTINA - The prospects of Argentina defaulting on its overseas debt have grown after opposition-led provinces voted against a new austerity plan.
National bank reserves grew in Kazakhstan
KAZAKHSTAN - Net international reserves of the National Bank of Kazakhstan grew by 6 percent or $146.8 million in October.
ECB gold reserves in 2 Nov week
GERMANY - The Eurosystem's net reserves in gold and gold receivables declined by EUR1 million to EUR128.2 billion in the week ended 2 November, the European Central Bank said Tuesday.
Fraga wants to revoke 500 Finance System norms
BRAZIL - Central Bank President Arminio Fraga said Tuesday that he plans to revoke at least 500 of the approximately 2,000 norms in the National Finance System (SFN) - rules to which Brazilian financial institutions are subject.
Argentina inches closer to debt deal
ARGENTINA - Argentina has edged closer to settling a debt swap deal to save it from defaulting on its international borrowings and effectively going bankrupt.
RBI nominee directors to handle risk management
INDIA - Following adverse criticism in the Lok Sabha of the role of RBI and government directors on bank boards, the ministry of finance has decided to concentrate on risk management skills of nominee directors of Reserve Bank of India and the government…
Speech by Tony Latter, Deputy Chief Executive HKMA
SPEECH - Address by Tony Latter, Deputy Chief Executive, Hong Kong Monetary Authority at the Seminar Programme of the FOW Derivatives Expo, Hong Kong, 5 November.
Argentine debt swap 'constitutes default'
ARGENTINA - Fitch, the international ratings agency, said yesterday that Argentina's debt restructuring, launched yesterday, constituted a default.
IMF to offer aid to countries in Caribbean
CARIBBEAN - The International Monetary Fund will help Caribbean countries whose economies have been troubled by the slowdown in the global economy and by the attacks on the US, according to Horst Kohler, the fund's managing director.
Georgia National Bank's reserves raised
GEORGIA - With the receiving of new credit from the International Monetary Fund, currency reserves of National Bank of Georgia had raised to 141.8 million dollars.
Russia's Gokhran to buy gold for central bank
RUSSIA - Russian precious metals depository Gokhran will buy 40 metric tons of gold in 2002 from domestic commercial banks for the Central Bank of Russia's reserves, Gokhran official Valery Goncharov told reporters Monday.
Russian reserves growing
RUSSIA - Russia's gold and foreign exchange reserves grew from $38.6 billion to a new peak of $38.8b in the period between 19 October and 26, 2001.
Pakistan's foreign exchange reserves rise
PAKISTAN - Pakistan's liquid foreign reserves rose to $3,433.9 million on 20 October from $3,351.3 million a week earlier, according to the State Bank of Pakistan.
Russian c bank reserves exceed 38 bn $ - Governor
RUSSIA - The currency reserves of Russia's Central Bank are nearly 38.6 billion dollars, Bank Governor Viktor Gerashchenko has said at the Russia-Dutch economic forum in the Hague.
Brazil c bank mulls use of derivatives on forex
BRAZIL - Brazil's central bank is considering the use of derivatives to intervene on the foreign-exchange market as of May 2002, a report said Thursday.
Argentina announces debt 'default' plan
ARGENTINA - Argentina's President Fernando de la Rua has announced a restructuring of his country's debt which many analysts regard as a technical default.
Speech by M R P Devakula, Bank of Thailand, 12 Oct
SPEECH - Opening Remarks by Governor M.R. Pridiyathorn Devakula of Thailand's central bank at Market Risk Management Techniques for the BIS Capital Regime Seminar, United Nations Conference Center, Bangkok, 12 October 2001.
Canadian dollar at record low
CANADA - Canada's currency fell to record lows against the US dollar on Wednesday, undermined by weak commodity prices, lower interest rates, and worries over the slowing economy.
Russian c bank lose 5 bn rubles due to staff fault
RUSSIA - The General Prosecutor's Office has completed investigation into the criminal case against Deputy Director of the main Moscow territorial division of the Central Bank, Alexander Alekseev.
Japan toughens stance on Pakistan debt
JAPAN - Japan has said it is unlikely to ease Pakistan's debt burden any further unless the Islamabad government agrees to ban nuclear weapons tests.
Speech by Shri Vepa Kamesam of India's Res Bank
SPEECH - Keynote address delivered by Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India at the inauguration of the 12th National Forex Assembly organised by Forex Association of India at Goa on 26 October.