Regulation
Bank of Israel may seek data on high-tech credit
The Bank of Israel's Supervisor of Banks is considering asking commercial banks to report specifically on the extent of their loans to the high-tech sector, a spokesman said on Feb 12, 2001. Loans to the technology sector are currently included within…
China banks stay stable in Jan 2001 - PBOC report
Statistics released on Feb. 12, 2001 by the People's Bank of China (PBOC) show that in January 2001 China's financial sector continued its healthy and stable development momentum, with money supply, deposits and loans maintaining steady growth. At the…
Argentina seeks probe into money-laundering
The Argentine government, embroiled in a money-laundering scandal threatening the job of the Central Bank chief, requested on Feb 12, 2001 an investigation involving local and foreign banks and a Mexican drug cartel. Federal Judge Adolfo Bagnasco has…
Pakistan says Islamic banking won't hit accords
Military ruler General Pervez Musharraf said on Feb. 12, 2001 that Pakistan's plans to introduce interest-free Islamic banking would not affect the country's international financial dealings and accords.A government statement quoted him as giving the…
Oman allows banks to sell insurance policies
The Central Bank of Oman (CBO) has allowed commercial banks operating in Oman to sell insurance policies in partnership with any insurance companies in the Sultanate. However, the Central Bank has stipulated that the policies must be sold by the…
UAE studies licensing new foreign banks-cen bank
The United Arab Emirates is considering allowing more foreign banks to operate in the country after a virtual freeze on new licences, the central bank governor said in remarks published on Feb 11, 2001. "The internal banking structure is strong and able…
UAE to assess money laundering
According to Al-Hayat newspaper [Feb. 11, 2001], the Governor of the Emirates Central Bank, Mr. Sultan Bin Nasser Al-Suweidy, said that an international monetary committee will visit the UAE during the period of February 19-21. This committee will assess…
Nigeria CBN prepares banks for universal banking
The Central Bank of Nigeria (CBN) has started processing the banking licences of banks with a view to granting them a general licence for universal banking. This was revealed to finance journalists in Lagos over the weekend [Feb. 10-11, 2001] by the…
China's cbank sets rules for fines and penalties
China's central bank has set new rules specifying the kinds of penalties it can assess, in a bid to standardize its regulatory practices, the official Xinhua News Agency reported on Feb 9, 2001. The People's Bank of China rules specify the sizes of fines…
Argentina to monitor banks amid laundering claims
The Argentine government said on Feb 9, 2001 it had set up a commission to monitor the country's banks in response to a U.S. congressional probe into the role of U.S. banks in laundering dirty money from drug dealing, corruption and organized crime. The…
Singapore banks eye new cap rules
Singapore banks, among the healthiest in Asia, should fare well against their regional competitors under a plan to strengthen international capital adequacy guidelines, the Monetary Authority of Singapore says. The proposal, unveiled recently by a Bank…
Philippine president urges amendments to cbank law
The following is an excerpt from report in English by Philippine newspaper "The Philippine Star" web site on Feb. 7, 2001. The new Philippines President Arroyo urged Congress leaders yesterday to help the country regain investors' confidence by…
Iraq to cooperate with Lebanon on monetary issues
Al-Quds newspaper reports on an understanding signed at the beginning of July 2000 between the Central Bank of Iraq and Lebanese banks and financial institutions on closer commercial co-operation. The newspaper quotes from a statement by Central Bank of…
Gerashchenko sees no Russia banking crisis
There is currently no threat of a systemic banking crisis in Russia, Central Bank head Viktor Geraschenko said. "I don't think that a systemic crisis in the banking sector is possible for us right now," Geraschenko said in an interview.
Kazakh say close to building stable banking sector
Kazakhstan's central bank said on Feb. 7, 2001 the central asian state would finalise the creation of a stable and transparent banking system this year which would boost confidence among private depositors and foreign investors. Deputy National Bank…
PBOC expects lift in capital adequacy ratios
The capital-adequacy ratios of China's four major commercial banks should all reach the current international benchmark of 8% by the end of 2002, state media reported Feb. 6, 2001, citing comments by People's Bank of China Gov. Dai Xianglong. Speaking…
Yugoslav banks' losses 10.4 bln German marks-cbank
Yugoslavia's central bank said on Feb. 2, 2001, the heavily-indebted banking sector had more than 10 billion German marks ($4.81 billion) in accumulated uncovered losses, the equivalent of some 40 percent of the country's gross domestic product. "Total…
Lebanon cbank still awaits anti-laundering law
Lebanon's central bank said on Feb. 2, 2001, it would cooperate with global efforts to combat money laudering once parliament approved a law that would open up the country's highly secretive banking system. "Once the law is passed, the central bank will…
Guatemala urged to modernize financial system
The Guatemalan government should modernize its financial system to strengthen the supervision of the country's central bank over the country's financial system, the central bank governor said Feb. 2. Lizardo Sosa, the president of the Bank of Guatemala,…
BI to complete divestment program in 2001-Sjahril
Bank Indonesia Governor Sjahril Sabirin said on Feb. 2 that the central bank would divest all of its ownership in various financial institutions this year. Sjahril said that the divestment of the Bank Indonesia subsidiaries would be conducted either…
Books on the Asian crisis and its aftermath
So many books have been written about the causes of the Asian financial crisis from 1997-99 and about the lessons for policymakers. We review three of these books: "Asia Falling: making sense of the Asian crisis and its aftermath," "Asia in Crisis: the…
'Inventing Money:story of LTCM' by Nicholas Dunbar
One of the first books relating the story of the rise and fall of the ironically named Long-Term Capital Management. Written by Nick Dunbar, the editor of Risk magazine.