News
RBI begins on a plastic note
The Reserve Bank of India is in the process of introducing plastic currency. The plan is to print polymer notes which are clear, durable and moisture, water, sweat, oil and water-proof.
Thai central bank plans electronic bond settlement
The Bank of Thailand said it plans to introduce an electronic settlement system for bond and debt paper transactions in late 2001 as part of its policy to develop the Thai money market.
Chile on track for growth of close to 6%
Chile yesterday looked on course for economic growth this year of close to 6% after stronger than expected gross domestic product figures for October.
Threat to bankers over BIS offer
Twelve central bankers have been threatened with legal action by a Paris-based shareholders' group unless they vote against terms offered by the Bank for International Settlements to buy back the 13.73% of its shares in private hands.
ECB publishes updated Target information guide
The European Central Bank said it is publishing Monday an updated version of the information guide for credit institutions using the euro-zone's Target payment system.
Putin's aide has dim view of Russian cbank policy
This year's actual rouble rate exceeded the projected level by some 40%-50%, Andrey Illarionov, Russian President Putin's adviser for economic affairs, said at the joint session of the Duma banking and budget committees, at which the monetary policy of…
Greek EMU entry may boost euro M3 growth-CSFB
Greek membership of the euro next year could make a significant impact on euro zone money supply growth, according to researchers at Credit Suisse First Boston.
HKMA launch final stage of dollar clearing system
The Hong Kong Monetary Authority launched the final phase of its US dollar payment system on Monday, offering paper cheque clearing and delivery versus payment settlement of US dollar denominated debt.
Estonia makes promises in additional memo to IMF
The government and the Bank of Estonia pledge in an additional economic policy memorandum to the International Monetary Fund signed in November to use all extra income to establish a fiscal surplus in 2001.
Nepal's central bank moves to reform ailing banks
Nepal's central bank said on Monday it had asked the Himalayan kingdom's two state-owned banks to be cautious in granting new loans, a move aimed at protecting the ailing institutions.
Taiwan mulls monetary policy framework change
Taiwan's Central Bank of China (CBC) governor Perng Fai-nan on Monday said the central bank is mulling adjusting its monetary policy-making framework. But Perng said it remains debatable whether an "inflation targeting" framework, which is adopted in New…
RBI seen cutting India rates next year-JP Morgan
The Reserve Bank of India is likely to cut its benchmark bank rate in the financial year starting April 2001 due to a more stable rupee, comfortable money market liquidity, record foreign exchange reserves, and an easing bias in global interest rates, JP…
Yugoslavia an IMF member, to receive $100m-Dinkic
Yugoslavia will have $100m at its disposal on the basis of gold reserves, which Former Yugoslavia has in the Bank of International Settlements in Basel, Mladjan Dinkic, Yugoslav National Bank governor, announced this evening.
Russian banker predicts 'not easy' year
Uncertainty about the restructuring of Russia's debt to the Paris Club of creditors might entail changes in Russia's fiscal and credit policy in 2001, said central bank first deputy chairman Tatyana Paramonova.
Welteke to stay out of Buba reform - Falthauser
The finance minister of the German state of Bavaria, Kurt Falthauser, has called for Bundesbank President Ernst Welteke to refrain from commenting in public on the issue of reforming the central bank, German newspaper Boersen Zeitung said Sunday.
Oman modifies commercial banking laws
Oman said yesterday it has amended some of its commercial banking laws to meet the requirements of new economic developments.
Cote d'Ivoire urges UEMOA solidarity
Ivorian commerce and industry minister, Bohoun Bouabre, has called for greater cooperation among the eight-nation West African Economic and Monetary Union (UEMOA).
Kuwait proposes opening up to foreign banks
Kuwait's central bank governor said the bank is proposing an amendment to current banking laws to allow foreign banks to open branches in the country, a daily newspaper reported.
FRC declares Kansai Kogin, Tokyo Shogin insolvent
The government's Financial Reconstruction Commission (FRC) on Saturday declared Kansai Kogin and Tokyo Shogin insolvent, believing the credit unions are severely undercapitalised, and will appoint administrators to oversee them, FRC officials said.
Reserve Bank of India rules out rates cut
The Reserve Bank of India Saturday admitted that the cost of borrowing is high, but ruled out a rate cut during this fiscal year as it has already softened.
Oman modifies commercial banking laws
Oman said on Saturday it has amended some of its commercial banking laws to meet the requirements of new economic developments.