Central Banking
Monetary council member resigns in Hungary
HUNGARY - Professor Janos Kornai, one of Hungary's most prominent economists, has announced his resignation from his position on the monetary council of the National Bank of Hungary (MNB).
Macedonia bank has new model for market prognoses
MACEDONIA - The National Bank of Macedonia (NBM) has developed a new econometric model for macroeconomic prognoses and for simulation of some market movements to judge on their effect.
Basel II - Official texts
The official texts comprising the new Basel Accord including supporting documents and commentaries from the committee
Basel II - Feedback to the Committee
The Basel Committee received over 230 comments on its January 2001 draft capital accord. All of these are posted on the Committee's website - we pick out some of hte notable comments.
Basel II - Comment and Analysis
A selection of the comment and analysis on the committee's proposals.
Bank of England - Annual Report 2001
UK - The Bank of England's Annual Report for 2000/ 2001 was published on 20 June. The governor, Sir Edward George, believes that the steady progress made during the year can be continued. But acknowledges a downside in the shape of the slowdown in the US…
Euro gives spur for updating
ARTICLE - The Financial Times, London on 21 June published an article on regulation by Vincent Boland. The article is subtitled 'IPO issuers face a range of standards and requirements in Europe. Meeting them is a costly and time-consuming exercise.
History shows multiple currencies breed corruption
ARGENTINA - History suggests that multiple currency regimes like Argentina's two-tiered foreign exchange system distort economic activity, invite corruption and in some cases can cause mass amounts of foreign reserves to vanish overnight.
Uganda central bank plans commercial bank sale
SWEDEN - Bank of Uganda Governor Emmanuel Tumusiime-Mutebile said in an interview on 20 June he expected to complete within two months a deal to privatise Uganda Commercial Bank Ltd (UCB).
The challenges of universal banking
ARTICLE - Realising benefits of a universal banking system, such as a level playing field and economic development, can only be possible when the challenges and strategies to contain them are identified.
India's central bank issues Net banking guidelines
INDIA - Only banks licensed in India and operating a domestic branch network will be allowed to offer Internet banking in the country, according to guidelines finalised last week by the Reserve Bank of India (RBI).
Thai central bank calls meeting on forex rules
THAILAND - The Bank of Thailand (BOT) said on 21 June it would hold a meeting on Monday (25 June) with the Thai Bankers Association to seek members' views on streamlining reporting rules for non-residents trading the Thai baht.
Indonesia set on sacking central bank board
Indonesia - Indonesia on 21 June insisted on going ahead with the controversial sacking of the central bank board but was prepared to add to a revised law on Bank Indonesia (BI) to ensure its independence.
Sri Lanka modernises central bank with support
SRI LANKA - Sri Lanka will boost the effectiveness of the Central Bank of Sri Lanka (CBSL) with support from a US$30.3 million credit just announced by the World Bank. The Central Bank Strengthening Project provides resources and technical assistance to…
Argentina links to euro
ARGENTINA - The Argentine Senate has approved a new law that will fix its currency to the euro as well as to the dollar.
Court confirms validity of Tuma as CNB head
CZECH REPUBLIC - The Czech Constitutional Court on 20 June confirmed the validity of President Vaclav Havel's appointment of Zdenek Tuma as Czech National Bank (CNB) governor and Ludek Niedermeyer as vice governor.
Speech by Edward George at the Mansion House
SPEECH - The Rt Hon Sir Edward George, Governor of the Bank of England gave a speech at the 2001 Lord Mayor's Dinner for Bankers and Merchants of the City of London, 20 June.
Speech by Gordon Brown at the Mansion House
SPEECH - Gordon Brown, Chancellor of the Exchequer, at the UK Treasury has spoken at the 2001 Lord Mayor's Dinner for Bankers and Merchants of the City of London, 20 June.
Chancellor cautious on early UK euro entry
UK - Gordon Brown, UK Chancellor of the Exchequer, gave a cautious welcome to UK entry to the euro at his mansion house speech on 20 June.
Eichel supports ECB's Duisenberg
GERMANY - German Finance Minister Hans Eichel has lent his support to the European Central Bank's oft-criticized president, Wim Duisenberg, German business newspaper reported on 21 June.
Hungarian parliament passes new central bank act
HUNGARY - The Hungarian parliament passed the new Central Bank Act late evening of 19 June. The new act relegates supervisory authority over the National Bank of Hungary (MNB) to the State Audit Office (ASZ), and replaces the current central bank council…
Single currency for NZ and Aus
NEW ZEALAND - Economists at a Sydney forum discussed a shared currency for New Zealand and Australia on 20 June.
Friedman issues euro warning
US - Top US economist Milton Friedman believes Europe was wrong to introduce the single European currency and predicts it will lead to a raft of economic problems for the region.
Argentina's new measures to combat recession
ARGENTINA - Argentina is preparing to implement it's latest package of measures aimed at wresting the country out of a three-year recession and staving off a potential debt default.