Regulation

IMF pledge to help Argentina with economic reforms

ARGENTINA - The International Monetary Fund (IMF) said Wednesday that it was "firmly determined to help" Argentina, but conditioned an eventual financial bailout to President Eduardo Duhalde's progress in the execution of extensive economic reforms.

Israel approves Bill to redefine c bank powers

ISRAEL - Israeli ministers have approved a bill that would redefine the Bank of Israel's powers, but allowed the finance ministry and central bank time to propose changes to the bill to resolve continuing disagreements.

Brazil's central bank - a question of independence

FEATURE - Brazil's central bank president, Arminio Fraga, may appear the only sure thing in Brasilia these days as election fever grips the capital of South America's number one economy. But the question to be asked is, for how long?

Russian gov't seeks central bank draft law changes

RUSSIA - The Russian government will press for a revision of a number of amendments to the draft law on the Central Bank the State Duma (lower house) proposed Friday, Deputy Prime Minister and Finance Minister Aleksey Kudrin has said.

Korean financial supervisory system to be assessed

SOUTH KOREA - The International Monetary Fund (IMF) and the World Bank are expected to evaluate Korea's progress in establishing effective frameworks for supervising banks, insurers and securities firms during a 14-day assessment program on the country's…

Russian c banker in court for abuse of office

RUSSIA - The Zamoskvoretskiy intermunicipal court in Moscow begins proceedings in the criminal case involving Aleksandr Alekseyev, deputy head of the Russian Central Bank's main territorial directorate for Moscow, ITAR-TASS reports.

Bangladesh to close 500 bank branches

BANGLADESH - The central bank in Bangladesh has disclosed a plan to close down 500 branches of state owned commercial banks which were incurring losses over the last five years.

Polish PM scales back anti-central bank rhetoric

POLAND - Polish Prime Minister Leszek Miller softened hostile rhetoric against the country's central bank on Sunday but kept intact the message that bankers should stop damaging the limp economy with high interest rates.

Russia's banks face 'health check'

RUSSIA - An inspection team from the International Monetary Fund (IMF) and the World Bank start work in Moscow on Wednesday on what is described as a "comprehensive health check-up" of Russia's shaky financial sector.

US Judge dismisses claims against BIS, Fed Reserve

US - A federal judge in Boston has dismissed claims of price manipulation a consultant to the Gold Antitrust Action Committee made against the Bank of International Settlements, several leading investment houses and officials of the U.S. Treasury and…

Japan Lower House approves new BOJ board members

JAPAN - Japan's powerful Lower House of parliament on Thursday approved the appointment of two businessmen to the Bank of Japan's (BOJ) policy-setting board, to replace members whose terms expired at the end of March.

Zimbabwe's c bank calls for debt issue discussion

ZIMBABWE - The Reserve Bank of Zimbabwe (RBZ), the country's central bank, has urged the government to intensify efforts to shift debt towards longer term securities to address the huge debt service burden, according to the Zimbabwe Inter-Africa News…

Boost for Germany's financial role

GERMANY - Recent reforms to modernise regulation of Germany's financial markets are likely to strengthen the country's position as an international financial centre, even though the government had to compromise on its proposals.

IMF Working Paper Series

RESEARCH - Regulatory and Supervisory Independence and Financial Stability by Marc Quintyn and Michael Taylor of the Monetary and Exchange Affairs Department of the International Monetary Fund, March 2002.

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