News
BoE worries about banks exposure to telecoms
The Bank of England is expected to express concern at the level of debt run up by telecoms companies, the UK's Telegraph newspaper said on Monday.
Brazil delays prospectus for Bepi and BEM
After the headache caused by the problems with economic and financial evaluations, the central bank decided to wait and postponed publication of the prospectuses to contract the company that will put together the sale model and perform the financial and…
Brazil: new central bank should follow UK model
The plan for the "new" Central Bank of Brazil, elaborated by the government, is ready and will be sent to Congress at the beginning of 2001.
Pakistan cbank says govt must meet IMF terms
Pakistan's central bank warned the government on Monday that it must strictly implement tough conditions set under an International Monetary Fund loan programme to avert a balance of payment crisis.
Banks to support Turkey, won't cut exposure - IMF
Banks engaged in Turkey will not reduce their financial exposure to the country, a senior International Monetary Fund official said on Monday.
Slovenia to ease portfolio investment rules
The Bank of Slovenia said on Monday it would ease restrictions for foreign portfolio investment next month as part of its drive to harmonise its regulations with those of the European Union by the end of 2002.
Economic indicators are positive - Pakistan cbank
Vital economic indicators have shown positive development during the first quarter (July-September) of the 2000-2001 fiscal year, Pakistan's central bank said Monday.
Cambodia central bank closes 11 commercial banks
The National Bank of Cambodia has closed 11 commercial banks that failed to comply with the minimum capital requirement set by the new banking law, according to the Cambodia Daily on Monday.
Lithuanian, Polish national banks to cooperate
Heads of the Lithuanian and Polish central banks, Reinoldijus Sarkinas and Hanna Gronkiewicz-Waltz, have signed an agreement on the mutual cooperation in the sphere of the supervision of banking activities.
Litas to be pegged amid preparations for EU
Lithuania, while preparing for its membership in the European Union, plans to keep litas pegged to dollar and later to euro, the board of the Bank of Lithuania announced after discussing its participation in the processes of Lithuania's preparation for…
China to put gold mkt In Shanghai, timing unclear
Central bank officials Monday said China's first communist-era gold market will be set up in Shanghai, but they declined to say when.
Malaysia banks gear up to tie merger knot
Malaysia's most ambitious financial sector consolidation takes shape from January when most of its banks finally tie the knot in government-ordered unions to fight foreign competitors.
HKMA, HSBC beef up anti-counterfeiting measures
Hong Kong's quasi central bank the Hong Kong Monetary Authority and the Hong Kong & Shanghai Banking Corp. unveiled Monday new security features to combat widespread counterfeiting of Hongkong Bank's HK$1,000 notes.
Iran central bank allocates $1bn to private sector
Central Bank of Iran announced that it has allocated $1bn to the private sector. The money was drawn from the foreign exchange reserve fund which was set up to deposit surplus oil revenues.
Bk Indonesia to adopt risk-based bank supervision
Bank Indonesia will gradually shift its banking supervision system from the current compliance-based mechanism to include the internationally practiced risk-based system starting next year, according to a senior official at the central bank.
Clock keeps ticking on naming new BoC head
Time is running out for Gordon Thiessen's term as Bank of Canada governor, and there is still no official word concerning who will become his successor.
Euro too weak for Britain - BoE's governor
Governor of the Bank of England Sir Edward George said Sunday that Britain cannot afford to contemplate joining the euro until it strengthens.
RBZ To announce new monetary policy measures
The Reserve Bank of Zimbabwe governor, Leonard Tsumba, is expected to announce new monetary policy measures for the year 2001 by the end of this month, a central bank spokesman said this week.
Ottawa stays mum on Canada's new bank governor
A veil of mystery is hanging over the Bank of Canada. Even the date for announcing the next central bank governor is as much of a puzzle as who the new chief will be.
Crisis mgmt hit by joining euro, UK Lords say
The government's ability to manage the economy in a crisis could be hamstrung if Britain joins the euro, a House of Lords committee warned today.
Nigeria parliament urged to legislate on e-banking
The Nigerian National Assembly has been called upon to pass appropriate legislation that will address the problem of fraud and other peculiarities of electronic banking, if Nigeria must enjoy full benefits of e-banking.
Czech c.bank less concerned over crown strength
The Czech central bank is less concerned over the strength of the crown currency as the country's economic recovery grows more robust, CNB vice governor Ludek Niedermayer said in an interview on Friday.
Rohatinski steps down until new cbank law passed
Croatia's central bank governor Zeljko Rohatinski said on Friday he would step down until parliament passed a new law which will regulate the work of the monetary authority in line with European criteria.
Swiss franc ends off lows after SNB holds fire
The Swiss franc ended off lows against the dollar after the Swiss National Bank left interest rates unchanged, as expected, and said it detected no major inflationary pressure on the horizon.