Regulation
DNB cool on its own watchdog plans
NETHERLANDS - Dutch central bank DNB president Nout Wellink is less than enthusiastic about his own controversial plan for new watchdogs for the financial sector, according to an internal document leaked to Het Financieele Dagblad.
Ten nations on track to join EU
EUROPE - European Commission officials yesterday said they saw no reason why up to 10 countries could not be ready to join the European Union by 2004.
CentralBankNet's Monday Morning Comment
SPECIAL FEATURE - The ECB's 0.5% cut still leaves it with a credibility gap.
Central bank appointment gets warm welcome
EGYPT - Cairo bankers have reacted positively to the appointment of Mahmoud Abul-Ayoun to the post of governor of the Central Bank of Egypt.
KPMG will conduct financial audit in Armenia
ARMENIA - The international auditing company of KPMG-Armenia will conduct a financial audit of RA Central Bank for 2001. The decision was passed at the today's sitting of RA Central Bank's Board, according to the information center of CBA.
Czech nat bank critical of gov't pressure on rates
CZECH REPUBLIC - Czech National Bank Governor Zdenek Tuma Thursday criticised Prime Minister Milos Zeman and Finance Minister Jiri Rusnok for publicly urging the central bank to cut interest rates in recent weeks.
Risk Management Practices and Regulatory Capital
REPORT - The Joint Forum Risk Management Practices and Regulatory Capital Cross-Sectoral Comparison, November 2001.
Japanese politicians lock swords over bank reforms
ARTICLE - The outcome of a tussle within the LDP on changes to the insurance system will be a key test for Tokyo.
EU bid to shake up securities markets delayed
EUROPE - The European Union's bid to speed regulatory reform in securities markets faces new delays after the European parliament yesterday called on its constitutional affairs committee to produce a report on how the controversial plans affect member of…
Martin brushes off claims of central bank conflict
CANADA - Finance Minister Paul Martin brushed away suggestions yesterday that he was trying to undermine the independence of the Bank of Canada with comments this week about the bank needing to take action.
Latvian central banker Repse cleared of corruption
LATVIA - While finding no anti-corruption violations in actions by Bank of Latvia president in announcing one-time collection of donations as royalties he would receive for heading a new right-wing party, the Prosecutor General's Office though warned him…
Selection of Russia's central bank auditor
RUSSIA - During a meeting of the Duma commission for the choice of an auditor for the Central Bank, deputies failed to choose between a Western or a Russian company and to decide whether two companies or one should audit the Central Bank.
Glenn Stevens tipped as new RBA dep gov
ARTICLE - Reserve Bank of Australia Assistant Governor Glenn Stevens is the clear favorite among a small field of contenders to fill the shoes of Deputy Governor Stephen Grenville, who retires 30 November.
Indonesia - The central bank's saga
ARTICLE - This article examines recent events involving Bank Indonesia, the central bank of Indonesia. The article was published before Sjahril Sabirin, governor of the bank, was convicted of fraud on 31 October 2001.
China has no plan to relax foreign bank rule: HKMA
HONG KONG - China said on Tuesday it had no plans to relax its US$20 billion asset-base threshold for foreign banks wanting to open branches in the country, according to a Hong Kong Monetary Authority (HKMA) spokesman.
Top officials sue Polish central bank for back pay
POLAND - The members of the bank's 10-strong Monetary Policy Council (MPC) say that recently published details of the remuneration of Polish central bankers show they have been underpaid for the past three years.
Ottawa's plan for G-20 security is out of sight
ARTICLE - Finance ministers and central bank governors from the Group of 20 nations, along with officials of the International Monetary Fund and the World Bank, will go underground when they congregate here next week. Literally.
Report casts doubt on how Italy qualified for euro
ITALY - The government of a European Union country - understood to be Italy - used the derivatives market to camouflage the true size of its budget deficit so that it could be admitted to the European single currency, according to a report.
Italy denies tricks to qualify for euro
ITALY - Italy on Monday denied a report that it had used complicated derivatives to hide the true size of its 1997 budget deficit to qualify for membership of the euro currency.
Thai c bank reshuffle: Six assistant gov's rotated
THAILAND - Pridiyathorn leaves only three assistant heads unchanged in his major reorganisation of top-level executives.
GATA - Howe lawsuit goes to Boston hearing
US - A hearing in GATA consultant Reginald H. Howe's gold market manipulation lawsuit against the Bank for International Settlements, the U.S. Federal Reserve Board and Treasury Department, and five bullion banks will be held at 2 p.m. Monday in U.S…
Call for big changes to global financial system
ARGENTINA - A group of former finance ministers from emerging market countries will today propose fundamental changes to the global financial system, including an international bankruptcy procedure for government borrowers.
Reducing information pollution at the ECB
ARTICLE - Conventional wisdom has it that the European Central Bank is excessively secretive and insufficiently transparent. Nothing could be further from the truth.
Kyreyev becomes new head of Ukraine nat bank dep't
UKRAINE - On 26 October, the National Bank of Ukraine appointed new head of its department for international links, Olexandr Kyreyev, NBU press service reports.