Central Banking
BIS publishes its Annual Report 2000/01
SWITZERLAND - The Bank for International Settlements (BIS) released its 71st Annual Report for 2000/01 today, 11 June. It is holding its annual general meeting in Basel.
BIS Annual General Meeting Presidential Address
SPEECH - Address by the Chairman of the Board of Directors and President of the Bank for International Settlements, Urban Backstrom, to the Annual General Meeting held in Basel today, 11 June 2001.
Pakistan not ready for Islamic banking deadline
PAKISTAN - Pakistan is not ready to meet a 1 July supreme court deadline to implement interest-free Islamic banking and its financial institutions are likely to request more time to make the change, officials said on 7 June.
Reynders asks ECB to test early euro notes release
BRUSSELS - Belgian Finance Minister Didier Reynders has said he has asked the European Central Bank to consider "testing" automatic cash dispensers shortly before 1 January next year to ensure they could release euro notes.
Japan economic council urges flexible BOJ policy
TOKYO - Prime Minister Junichiro Koizumi's economic policy council urged the Bank of Japan on 11 June to carry out a flexible monetary easing policy if needed while the economy is in an adjustment phase.
Slovakian cen bank asked to permit capital entry
SLOVAKIA - On 8 June a potential investor in Devin Banka, a.s. officially asked the National Bank of Slovakia (NBS) to permit acquisition of higher than a 50-percent stake in its share capital.
ABC Islamic to launch sharia credit cards
BAHRAIN - Bahrain-based ABC Islamic Bank, a wholly-owned subsidiary of Arab Banking Corporation, is in the process of establishing a vehicle for the marketing of sharia-compliant credit cards.
Brazil c-bank may transfer liquidation admin
BRAZIL - The central bank of Brazil is involved in a debate on transferring the administration of financial institutions in liquidation from the Central Bank to the Credit Guarantee Fund (FGC).
Egypt central bank dollar requests mount up
EGYPT - Egyptian banks have accumulated requests for hundreds of millions of dollars with the Central Bank which has not released any dollars into the market in over a month, banking sources and newspapers said on 7 June.
Greenspan may face rougher ride from critic
US - Following the decision by James Jeffords, the Vermont senator, to quit the Republican party and hand control of the Senate to the Democrats, Paul Sarbanes, one of Mr Greenspan's biggest critics, assumes the chairmanship of the important Senate…
Irish may reject Nice Treaty
IRELAND - Just over 30 percent of Irish voters took part in a referendum on the Nice Treaty on 7 June. RTE, the Irish state broadcaster, says early indications are that "there is a strong possibility the Nice Treaty may have been rejected by the voters."
Interview with Horst Kohler
INTERVIEW - Following a string of financial crises from Mexico through Asia to Argentina, the reputation of the International Monetary Fund has taken a severe beating. IMF Managing Director Horst Kohler admits the fund may have made mistakes in the past,…
Blair win good for monetary union - ECB's Domingo
SPAIN - European Central Bank board member Eugenio Domingo Solans said on 8 June that the victory of Prime Minister Tony Blair in Britain's general election was positive for European monetary union.
Bush wants bank executive on Federal Reserve Board
US - President Bush has decided to nominate Susan Bies, a top official with a Tennessee bank, as a member of the Federal Reserve Board of Governors, a senior White House official said on 8 June.
Thank you, academics, for making up my mind
UK - A letter signed by 15 leading UK academics supporting Britain's entry into the euro has provoked several passionate responses.
US economist offered key IMF role
US - A conservative economist aligned with the US administration has been offered the key job of first deputy managing director at the International Monetary Fund.
Speech by Fed governor Laurence H Meyer
SPEECH - Federal Reserve governor Laurence H. Meyer has given a speech before the New York Association for Business Economics and The Downtown Economists, New York on 6 June.
Swiss National Bank - Annual Report 2000
REPORT - The Swiss National Bank has produced its annual report 2000. It reviews a year in which GDP grew and unemployment declined significantly in Switzerland, inflation rose slightly but still remained below 2%.
National Bank of Denmark - Annual Report 2000
REPORT - The Danmarks Nationalbank has published its Report and Accounts 2000. It was a year in which a referendum was held on Denmark's proposed adoption of the euro.
Worries as German's remember 'wheelbarrow money'
GERMANY - A survey has revealed that more than half the population of Germany remain wary about the introduction of euro notes and coins fearing it will lead to price rises as retailers use the opportunity to round up prices following conversion into the…
ECB keeps interest rates on hold
EUROPE - The European Central Bank has maintained the key interest rate for the 12 countries within the eurozone at 4.5%.
IMF will grant loan to Yugoslavia in June - Dep PM
YUGOSLAVIA - The International Monetary Fund will grant its first stand-by loan to Yugoslavia this month even though the country's failure to adopt a war crimes law had been expected to block aid, Deputy Prime Minister Miroljub Labus said on 7 June.
Polish c-bank to reveal wages of top officials
POLAND - The National Bank of Poland (NBP) will reveal the salaries of its top officials on 7 June after deputies questioned why the pay of public servants was secret, senior central bank official Pawel Narozny said.
Autonomous central bank defended by Fraga
BRAZIL - Central Bank president Arminio Fraga emphasized the importance of three items among those that depend on the regulation of article 192 of the Constitution of 1988, which deals with the national financial system.