Regulation
CBR makes life easier for capital exporters
RUSSIA - On 5 July, the Central Bank of Russia established a new procedure for making direct investments in the economies of CIS countries.
Sharon backs Klein and an independent Central Bank
ISRAEL - Prime Minister Ariel Sharon has published a statement on 9 July expressing support for maintaining the independence of the Bank of Israel and for Governor David Klein, Ha'aretz reports.
Nepal to let foreigners have majority bank stakes
NEPAL - Nepal announced on 10 July it would let foreign players hold majority stakes in joint venture banks as part of a drive to open up its banking sector to outsiders.
Extra year for the new Basel plans
ARTICLE - The Economist magazine in London published an article in its 30 June edition suggesting that the postponement of the new Basel capital accord was a relief, but not a surprise.
Regulator to study Brazil comparative rate system
CHILE - Chilean banking authorities will study the implementation of the Brazilian Central Bank's comparative interest rate system with a view to boosting transparency and competition in the loan market, Chile's chief banking regulator Enrique Marshall…
Liberal rules for S-type accounts in force, Russia
RUSSIA - The Central Bank of Russia has drafted a number of instructions aimed at liberalising rules for S-type accounts, in which foreign investors must keep rubles received from redemption of government bonds that were frozen after the 1998 financial…
Promoting financial stability in New Zealand
SPEECH - Recently published transcript of an Address by Dr Don Brash, Governor of the Reserve Bank of New Zealand to the Conference for Commonwealth Central Banks on Corporate Governance for the Banking Sector, London, 6 June.
No trial operations approved for banks in China
CHINA - China's central bank said on 2 July it has not approved any trial operations of new private banks and declared such moves illegal, contradicting a media report last week that some trials were well progressed.
Thai's signal looser bank regulation
THAILAND - The FT, London on 5 July reports that Pridiyathorn Devakula, Thailand's new central bank governor, has appeared to signal a shift in attitude towards regulating the country's fragile commercial banks, saying banks should start lending again…
EU assembly repeat call for ECB to publish minutes
EUROPE - The European Parliament approved a resolution on 4 July backing the European Central Bank's 2000 annual report and repeating its call for the publication of ECB minutes, officials said.
Reflections on Globalization, Spain, and the IMF
SPEECH - Eduardo Aninat, Deputy Managing Director, International Monetary Fund spoke at the General Meeting of ELKARGI, San Sebastian, Spain, 29 June.
Ernst Welteke: Trends in international banking
SPEECH - Address by Ernst Welteke, President of the Deutsche Bundesbank, at the International Arab Banking Summit held in Frankfurt, 19 June.
National Bank of NZ names chief economist
NEW ZEALAND - The Reserve Bank of New Zealand has appointed John McDermott as its new chief economist. He will start his new assignment on 20 August.
Korea's smaller chaebol could own banks
SOUTH KOREA - South Korea may take the controversial step of turning to smaller conglomerates to sell off nationalised banks, the head of Seoul's top state-run thinktank suggested in a Reuters interview today, 3 June.
Three regulators criticise new SEC rules
US - Three major U.S. banking regulators issued a scathing criticism on 2 July of the Securities and Exchange Commission's interim final rules on when banks can be exempt from standard dealer and broker requirements.
Czech ex-minister, ex-head of bank blamed
CZECH REPUBLIC - Ex-Finance Minister Pavel Mertlik and CNB central bank ex-governor Josef Tosovsky are responsible for the forced administration imposed on the IPB [Investicni a postovni banka - Investment and Post Bank] bank last June and its…
Fiscal intelligence may not apply to Russian bank
RUSSIA - A fiscal intelligence service should be created in Russia but not within law enforcement agencies or the Central Bank, First Vice-Prime Minister and Finance Minister Alexei Kudrin said.
Indonesia may delay central bank law debate
INDONESIA - The Indonesian government might seriously consider a parliamentary proposal to delay debating controversial central bank law amendments.
Search on for new European Central Bank President
EUROPE - Yesterday, 28 June, Prime Minister Jean-Claude Juncker of Luxembourg confirmed that he was approached about the job, although he said he wouldn't want it. Mr. Juncker's comments are viewed by the media as the first evidence the European Union…
Japanese regulator penalises Goldman
JAPAN - Japanese regulators slapped heavy penalties on Goldman Sachs on 27 June after the US bank admitted it had misquoted prices in the online warrants market in Tokyo, as reported in the FT London.
Grasser-Duisenberg succession talk no help to euro
EUROPE - Austrian Finance Minister Karl-Heinz Grasser said on 29 June that the debate about who will succeed Wim Duisenberg as president of the European Central Bank was not helping the euro.
Bank of England - Financial Stability Review
RESEARCH - On 28 June the Bank of England published the latest Financial Stability Review for June 2001. The review contains five articles and the Bank's regular half-yearly assessment of risks to stability.
Raiding the central bank to pay the deficit, Egypt
ARTICLE - The official figures issued for the budget deficit only tell part of the story about the state of Egypt's finances. A close look at the pattern of government debt over the past three years suggests that the actual fiscal deficit has been in the…
Hong Kong Financial Secretary meets ECB President
GERMANY - Hong Kong's Financial Secretary, Mr Antony Leung, held talks on 27 June with the President of the European Central Bank, Mr Willem Duisenberg.