Regulation
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.
Duisenberg slams plan to curb Buba oversight role
European Central Bank President Wim Duisenberg on Feb. 1, 2001, attacked German government plans to strip the Bundesbank of its banking watchdog duties, saying the move may make it harder to supervise the financial system. In unusually strong tones even…
IMF says Canada must be wary as U.S. slows
The International Monetary Fund said on Feb. 1, 2001, that Canada was well placed to cope with a slowing U.S. economy, but told its central bank to be ready to cut interest rates if the U.S. slowdown became a dive. In its annual staff assessment of the…
Russia c.bank drafts blueprint for banking reform
Russia's central bank has prepared new guidelines for banking sector reform aimed at bringing financial institutions in line with Western standards, a senior central banker said in an interview published on Feb 1, 2000. Central bank deputy chairman…
Pakistan central bank raises paid-up capital limit
Pakistan's central bank has increased the paid-up capital requirement for investment banks to 500 million rupees from 200 million rupees, a central bank spokesman said on Feb 1. But he said the State Bank of Pakistan has given a two-year period to…
Interview with Viktor Gerashchenko
We report in full an interview with Russian central bank chairman Viktor Gerashchenko that appeared in the Russia paper, 'AIF weekly', following the World Economic Forum in Davos.
Irish cbank chief stays on for extra time
The governor of the Central Bank of Ireland, Mr Maurice O'Connell, is to remain in office for almost an extra year. Mr O'Connell, who was due to retire on April 30, 2001, having completed a seven year term, will now stay in his post until the end of…
Austrian gov't plans new financial market watchdog
Austrian Finance Minister Karl-Heinz Grasser submitted his plans for the creation of a new unified financial market regulatory authority to cabinet on Jan. 30. The proposed body will be responsible for supervising banks, insurers and the securities…
Stock market consolidation to help euro - Reynders
Belgian Finance Minister Didier Reynders said on Jan. 30 that "technical measures" were needed to stimulate foreign investor interest in the euro, singling out further stock market consolidation.Reynders said also that with the introduction of euro notes…
Lithuania banks 2000 cap adequacy 16 pct
The Central Bank of Lithuania said on Jan. 30, 2001, the banking sector's capital adequacy at the end of 2000 was 16.42 percent versus 17.63 percent at the end of 1999, still well over the 10 percent minimum. The sector's liquidity at the end of December…
Isarescu agrees to Romania fin supervisory council
BNR governor, Mugur Isarescu on Jan. 30, 2001, stated he agreed with the idea of founding a banking supervising council outside the authority of the central bank. He told InfoPro that banking supervision has been so far "the weak point of BNR", reported…
Ghana's central bank to close all ailing banks
The Bank of Ghana (BOG) has been taking efforts to close down all non-performing banks as part of its on-going activities to inject sanity and seriousness into the banking sector, according to reports Xinhua News Agency. In line with the new measures,…
MAS issues insider trading law for consultation
Singapore revealed changes to insider trading laws that will penalize anyone who trades on the insider information regardless of whether the accused has any links to the company. The Monetary Authority of Singapore, the markets regulator and central bank…
Mauritanian govt reshuffled, new cbank governor
The Mauritanian president decreed a partial government reshuffle on Jan. 28, 2001, in which the central bank governor, Mohfoudh Ould Mohamed Ali, was appointed finance minister. According to Mauritanian TV on the night of Jan. 28, the new central bank…
Egypt money market authority on falling shares
Commenting on the fall in stock prices during the year 2000, an Egyptian official has said that despite the decline, bills and bonds portfolios had achieved a substantial growth rate. He explained that stock prices had fallen because of the negative…
Cyprus angered at Yugo claim on Milosevic cash
One-time Serbian ally Cyprus on Jan. 26 angrily rejected assertions that it was not co-operating with inquiries to track down funds siphoned overseas by former Yugoslav president Slobodan Milosevic.Cypriot Foreign Minister Ioannis Cassoulides said he had…