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HKMA Yam on the future of the financial industry

Joseph Yam, chief executive of the Hong Kong Monetary Authority, has written a number of articles in his regular column the HKMA website on the technological revolution now in full flood. In this week's column, he imagines what life might be like for the…

Russian and Iranian central banks sign agreement

Today, the central banks of Russia and Iran signed a collaboration agreement. The agreement outlines cooperation between the banks in developing trade and economic cooperation between Russia and Iran.

Zdenek Tuma likely to become new CNB chief

Zdenek Tuma will become the head of the Czech National Bank, according to information published in today's daily press, replacing Josef Tosovsky who moves to the BIS Financial Stability Institute as of December 1.

Italy MTS to adopt RTGS system soon

MTS SpA, Italy's secondary bond market operator, will soon adopt real-time gross settlement (RTGS) for bond operations to replace current end-of-day settlement, MTS deputy director general Ezio Dosa said on Wednesday.

A$ bounces back from record lows

The Australian dollar bounced back from this week's record lows against the US dollar on Wednesday, buoyed by talk of central bank support in the options market.

New vice presidents suggested for Hungary cenbank

Hungarian daily newspaper Nepszava gave a list of the likely nominees for the post of new vice presidents at the National Bank of Hungary after the tenure of the current President Gyorgy Suranyi expires on March 1.

Liquidity gridlock feared from Japan's RTGS launch

Japan's introduction of real time settlement for stock and bond transactions may expose banks and brokerages to a temporary liquidity gridlock that could force some to reduce yen-based operations, bankers said on Wednesday.

Wahid won't interfere with Bank Indonesia

Indonesian President Abdurrahman Wahid will not interfere in negotiations over changes to the law governing the central bank, his spokesman said on Wednesday.

Fiji 2001 budget forecasts slow economic recovery

Fiji's post-coup government on Wednesday delivered its calendar 2001 budget, predicting a slow recovery in the South Pacific nation's economy which has been battered by a nationalist coup and failed military mutiny. The central bank has predicted that…

Economists hit Malaysia's dollar peg

Malaysia should get rid of its currency peg to the dollar and fix the exchange rate to a trade-weighted basket of currencies instead, said several economists speaking at a conference in Kuala Lumpur.

Indonesia central bank reform highly politicised

Messy and highly politicised attempts to revamp Indonesia's central bank are the latest blow to stumbling efforts to resurrect a battered economy. Economists and banking sources said the attempts to resolve a huge loan controversy centred on the bank…

BOJ commits to Jan 4 real-time settlement launch

Bank of Japan governor Masaru Hayami said on Tuesday the central bank would stick with the January 4 launch date for its real-time gross settlement (RTGS) system for government debt and money market transactions.

Philippine economy seen growing 4% in 2000

The Philippines' central bank said on Tuesday the economy may post four percent growth year-on-year in the third quarter, backed by a strong performance by the agriculture sector. Central bank deputy governor Armando Tetangco cited the 3.49% growth in…

Fraga welcomes BSCH bid for Banespa bank

Spain's Banco Santander Central Hispano was the surprise high bidder for Banespa yesterday, claiming Brazil's state bank for an unexpectedly high US$3.6bn. Arminio Fraga, Brazil's central bank president, welcomed the bid.

Taiwan BoP suffers from capital flight

After eight quarters in surplus, Taiwan's balance of international payments fell into deficit territory in the third quarter of this year as the result of a sharp fall in the capital account, the Central Bank of China revealed yesterday.

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