Banks
Political support needed for Africa currency union
Africa's central bank governors gathered together to discuss the possibility of forming a regional currency union, but concluded that however desirable and technically feasible it may be, it cannot be done without the support of politicians, reported the…
Basel II 'could damage capital market liquidity'
The Securities Industry Association, which represents many of the world's largest securities firms, has written to the Basel committee warning that new rules "could have a detrimental impact on the liquidity of the capital markets", according to a report…
Fed's Bies on strengthening corporate governance
In a speech on 'The Role of Community Bank Directors in Strengthening Corporate Governance' given on 7 August Susan Schmidt Bies of the Federal Reserve said corporate governance and audit failures over recent months demonstrate how quickly trust can be…
Rethinking on monetary policy
The world over, central banks are undergoing an open evaluation of their past policies, this article in the Fiunancial Express, India, says. It looks at current policies of the world's major central banks and their views on asset price bubbles.
IMF Paper: Central banks and financial stability
An IMF Working Paper titled "Responsibility of Central Banks for Stability in Financial Markets" asks What is the role of central banks in ensuring financial stability? This paper addresses this controversial subject, in part by drawing on the…
Iraqi banks want to rejoin banking system
Faleh Salman, acting Iraqi central bank governor, said at the weekend that the Security Council's decision in May to lift sanctions meant "here is no impediment now" for the resumption of relationships across the world for Iraq's banks, according to a…
CBN fails to take its place on NBCB governing body
A month after the National Board for Community Banks (NBCB) was inaugurated the Central Bank of Nigeria (CBN) has not attended any meetings nor fill its position on the board, NBCB sources confirmed to Vanguard, Nigeria.
IMF deputy says U.S. Fed has room to cut rates
Deputy IMF managing director Eduardo Aninat said in a speech that the Federal Reserve has played a valuable role in sustaining domestic demand and "retains room to provide further stimulus should the recovery falter", according to a report by Reuters.
Nordic central banks conclude MoU memorandum
The Governors of the central banks of Denmark, Finland, Iceland, Norway and Sweden signed a Memorandum of Understanding (MoU) on financial crisis management at their meeting of 11 June in Iceland.
Arab central bank council discusses Basel II rules
The Council of the Arab Central Banks met in Bahrain on Wednesday 18 June to discuss the Basel II convention and how it would affect the supervisory role of monitoring the banking industr, according to a report by the Khaleej Times..
Banco de Mexico sues over loans
The central bank of Mexico announced on Monday 16 June that it had sued four of the country's largest banks to release information related to bad loans during the mid-1990s peso crisis, according to Reuters.
ECB criticised by eurozone national central banks
The European Central bank faces criticism for trying to push through proposals without sufficient consultation, according to a Handelsblatt report. The report said proposals presented to the ECB's 18-member governing council increasingly contain details…
CBK board given power to implement laws
The recently implemented Islamic Banks Law will give power to the central bank of Kuwait's Board of Directors to implement necessary laws and regulations with the aim of providing an atmosphere of healthy competition in the field of Islamic banking, the…
How Independent are Arab Central Banks?
An article in the Middle east Financial Network says that one way to measure the independence of a central bank is to consider the period of the governor's term and how often it is renewed. A number of Arab central bank governors and their deputies, it…
ABM lauds Bank Negara monetary measures
Malaysia's Association of Banks has praised measures set out by the central bank governor in the 2002 Annual Report. It said the steps would help maintain growth and support business activity.
Kansas City Fed's Hoenig:Community banks important
Kansas Fed President Thomas Hoenig said on Friday March 14 that community banks are important to the financial system by specializing in relationship banking and providing credit to small businesses, according to a report by Reuters.
How much gold will the central banks sell?
MONDAY FEATURE - Until recently there was a widespread expectation that central banks would continue to unload gold from their reserves on quite a large scale for many years to come. But this assumption is now being called into question. What is the…
Outgoing BoJ chief doubts market interventions use
Speaking on Friday Bank of Japan governor Masaru Hayami said he thought central banks attempts to intervene in the foreign exchange market were not vary effective.
Bank of Mexico in paintings mix up with government
CentralBankNet hears of an unfortunate mix up involving valuable paintings, the Bank of Mexico and an apparent infringement of copyright on the central banks fine art collection.
Norges Bank Press Release, 5 Mar
PRESS RELEASE - Norges Bank has decided to reduce the interest rate on banks' deposits with Norges Bank, the sight deposit rate, by 0.50 percentage point with effect from 6 March. The interest rate on banks' overnight loans will also be reduced by 0.50…
Bundesbank may opt to sell gold reserves - report
Mr Welteke, president of the Bundesbank, was reported as saying that the Bundesbank may become a party to the upcoming agreement among gold-holding central banks of Europe to sell part of their gold reserves. The new agreement may allow for increased…
OCC blow to Basel II timing
Hopes of finalising the new Basel capital accord in 2003 took a blow Monday as US Comptroller of the Currency John D. Hawke said in a speech that the OCC would insist on changes to the accord if, after a round of public consultation, US banks were not…
Brazil's interest rate increase wins IMF support
The IMF praised Brazil's central banks decision to increase interest rates saying that the move will help control inflation.
RBI issues risk management guidelines
In its guidelines on country risk management, the Reserve Bank of India has asked banks to address issues of identifying, measuring, monitoring and controlling country exposure risks in their country risk management policies.