Central Banking
Cyprus denies Milosevic money laundering claims
The Cyprus government has fended off press allegations that money belonging to the former Yugoslav President Slobodan Milosevic has been laundered through Cyprus-based banks.
Belgium seeks financial market regulatory reform
Belgian Finance Minister Didier Reynders proposed on Tuesday a reform of the country's financial market regulatory system which would strengthen the power of government regulators and harmonise oversight of stock exchanges.
BOT says government must focus on FIDF losses
The Bank of Thialand said yesterday the priority of the new government is to seek viable ways of repaying losses incurred by the Financial Institutions Development Fund.
Bank of Zambia wants business plans from banks
Commercial banks in Zambia will, effective next year, be required to submit yearly business strategic plans to the central bank.
CBR likely to amend monetary policy framework
The Bank of Russia last week submitted to the Duma "Guidelines for the government's unified monetary and credit policy in 2001".
China's regulators approve five foreign auditors
Five auditing companies with foreign partners have been included in a list of firms approved by China's regulators to conduct financial audits, People's Bank of China said Tuesday.
Thiessen rejects dollar union
Gordon Thiessen, Bank of Canada governor, has again rejected the idea of sharing a common currency with the United States.
Fed's Ferguson says US economy risks balanced
The risks to the US economy are evenly balanced between the dangers of an excessive slowdown and an inflationary overheating, Federal Reserve Vice Chairman Roger Ferguson said on Wednesday.
El Salvador makes way for US dollar general use
El Salvador is making final preparations to introduce the US dollar into general use in January, importing the US currency and training bank employees how to avoid money laundering and counterfeit schemes, officials said on Wednesday.
Yugo banks told to prepare for international audit
Yugoslavia's central bank told commercial banks on Wednesday to prepare for international auditors as monetary authorities tried to assess the banking sector ahead of planned reform.
Cyprus prepares to dismantle interest rate regime
Cyprus is preparing a major shake-up of its financial markets in January to remove measures left over from its days as a British colony and to shore up its economy prior to joining the European Union.
Ex-Fed Blinder - Japan needs cheaper yen
Alan Blinder, a former deputy chairman of the Federal Reserve, said Thursday Japan ought to boost demand by making its currency cheaper.
Korea c.bank says holding rates for now
Korea may cut interest rates to ward off a sharp economic downturn but only if prices remain under control, Bank of Korea Governor Chon Chol-hwan said on Thursday.
Pakistan banks told to double capital base by 2003
Pakistan has told banks to double their minimum paid-up capital to one billion rupees ($17.2 million) by the start of 2003.
Hungary publishes 2001 monetary policy guidelines
The National Bank of Hungary (MNB) agrees with the government on the necessity and method of changing the country's current exchange rate system, but so far no agreement has been reached on a timetable for the change, according to the MNB's monetary…
Georgian c.bank head sees stable lari, IMF loans
Georgia's lari currency should be stable next year, enabling the country to meet conditions to unlock loans from its largest creditor, the International Monetary Fund, the central bank governor said in an interview with Reuters.
Bank of Italy calls for action on usury ruling
Italy's central bank called for the government to take urgent action to soften the impact of a court ruling that could force banks to pay as much as 50 trillion lire to consumers who paid too much interest on home loans.
Zeti gives Dec. 31 as deadline for bank mergers
Bank Negara governor, Datuk Dr Zeti Akhtar Aziz said today that the December 31 deadline for bank mergers remained unchanged.
Fed Parry says economy growing at sustainable pace
Federal Reserve Bank of San Francisco President Robert Parry said on Tuesday that the US economy had shifted into a more sustainable growth range in recent months and that employment growth had moderated.
Venezuela 'overdrive' plan still not in effect
Venezuelan President Hugo Chavez acknowledged Tuesday that a $2.1bn government spending plan he announced two months ago to spur economic growth had still not taken effect.
ECB publishes revision of Eurosystem instruments
The European Central Bank Tuesday said it has published its revision of Eurosystem monetary policy instruments and procedures.
Kenya bill to control bank interest rates passed
Kenya's parliament today passed with amendments the Donde bill that seeks to regulate interest rates charged by commercial banks.
Bangladesh Bank to increase forex reserves
Bangladesh Bank, the country's central bank, has launched a vigorous move to replenish the country's emaciated foreign exchange reserve by relaxing its regulation on remittances, the United News of Bangladesh reported on Tuesday.