Regulation
Bundesbank joins Frankfurt regulator to slow Basel
Germany's central bank and banking regulator are joining forces in an effort to slow consideration of the new Basel Capital Accord, or Basel II, which aims to modernize the way banks globally account for risk.
Dual banking system viable in Malaysia - Zeti Aziz
The dual banking system - the side by side Islamic and conventional banking operations approach - has proven to be workable in Malaysia although it may not be applicable or suitable for others, Bank Negara Malaysia Governor Dr Zeti Akhtar Aziz said on…
Bank of France rejects lax bank monitoring charge
France's central bank on Feb 21, 2001 rejected charges by parliamentary deputies that it had been lax in dealing with money laundering risks during the surveillance of a Swiss bank's subsidiary in France.
Argentine senate to probe entire Pou tenure-papers
A Senate panel charged with investigating the possible mishandling of evidence by central bank president Pedro Pou in a recent money laundering case will instead probe all of Pou's actions since he took office, local newspapers reported.
Islamic banking needs standardisation - Iran gov
Dr Mohsen Nourbakhsh, Iran's Central Bank (CBI) Governor, said that Islamic banking has a lot of work to do in raising its international banking standards. "We have to strengthen the different interpretations of Shariah Law in order to harmonize the…
Argentina widens Central Bank laundering probe
An Argentine Congressional panel overseeing the Central Bank on Feb 20 widened a money laundering probe of its chief to include its board of directors in a scandal that threatens a recovery in Latin America's third largest economy.
Ireland sets up new financial regulation body
The Irish government said on Feb 20, 2001 it had set up a "radical and innovative" new structure for financial services regulation, linking the Central Bank of Ireland to the Financial Services Authority.
Japan, Germany agree to cooperate on IMF reform
Japanese and German finance officials agreed Feb 20 to cooperate closely in implementing International Monetary Fund reforms and beefing up the international monetary system.
Dominica expert wants inspection of offshore banks
A former US state bank examiner has suggested the Dominica government should act more decisively to put the offshore banking sector on a better footing, in the face of the country's blacklisting as non-cooperative in the international fight against money…
Japan's financial sector key G7 issue - Miyazawa
Japanese Finance Minister Kiichi Miyazawa said on Feb. 19, 2001 that he thought improving Japan's financial sector was at the core of discussions at the weekend meeting of the Group of Seven (G7) leading nations. "Japan's bad loan issue was seen as the…
Korea - BoK, FSS, KDIC to share information
The Korean Financial Supervisory Service, Bank of Korea and Korea Deposit Insurance Corp will start pooling their information on various financial matters. The three institutions will organize one consultative body to distribute financial information…
Russian central bank deputy governor in Vietnam
A delegation of Russian central bank headed by its deputy governor, V.A Melnikov has been in Vietnam since February 16, said the International Relation Dept. of the State Bank of Vietnam. They are scheduled to work with the central bank office,…
'Tech Transformation, Retail Banking'-by J. Vesala
The doctoral dissertation of Jukka Vesala, titled "Technological Transformation and Retail Banking Competition: Implications and Measurement", has been published by the Bank of Finland. Mr Vesala is presently employed at the European Central Bank. The…
Kenya's cbank to lift protection of local banks
Micah Cheserem, governor of the Central Bank of Kenya, has disclosed that his government might no longer be bound to protect local banks from competitions by international banks, local media reported on Feb 18, 2001. Cheserem made the remarks at the…
Argentine central bank chief dismisses scandal.
Argentina's central bank chief refused calls to resign on Feb 18, 2001, dismissing allegations he failed to police money-laundering in a scandal that has threatened to destabilize Latin America's third largest economy. Pedro Pou wrote in leading daily,…
G20 meet in Istanbul, stability discussed
Officials from the Group of 20 (G20) countries which mixes industrialised and emerging market countries met in Istanbul on Feb 18, 2001 to discuss promoting international financial stability and avoiding crisis. Turkish Treasury Undersecretary Selcuk…
MAS wants more market oriented disclosure regime
The Monetary Authority of Singapore (MAS) announced on Feb 16, 2001 that it will allow fund managers to hold shares in the Singapore Exchange (SGX) beyond the current 5% limit, but up to a cap of 10% and subject to the approval of MAS. MAS also proposed…
IMF publishes codes for transparency
The International Monetary Fund (IMF) has established a section on its public website (http://www.imf.org/hrd/index.htm) dedicated to highlighting guidelines and issues related to staff ethics, financial disclosure and dispute resolution.
Financial innovation conference at the FRBNY
The Federal Reserve Bank of New York is holding a conference on financial innovation and monetary transmission on April 5-6, 2001
New research from CEPR
Summaries of new discussion papers from the Centre for Economic Policy Research can be obtained on the CEPR website at www.cepr.org
Argentine central bank president under fire
The bicameral congressional committee that will recommend whether Argentine central bank head Pedro Pou should be removed from office for allegedly turning a blind eye to money laundering activities in Argentina will meet for the first time on Feb 20,…
Thai PM-no interference with cbank-Somkid fin min
Thai Prime Minister Thaksin Shinawatra and his finance minister-designate Somkid Jatusripitak assured investors late on Feb 16 that the incoming government won't intervene in commercial bank interest rates or central bank regulation of financial…
China markets watchdog chief warns manipulators
China's chief stock market regulator Zhou Xiaochuan issued a stern warning against price manipulation on Feb 15, 2001, saying stock prices should be based on the quality of listed firms and not "backroom deals". Zhou also pledged to crack down on firms…
MP Sichinga blames BoZ for Union Bank's collapse
East independent member of parliament Robert Sichinga on Feb 14, 2001 blamed Bank of Zambia' (BOZ) for the closure of Union Bank Zambia Limited, the Post of Zambia reported on Feb 15. Sichinga complained that the central bank had failed provide effective…