Banks
IMF's Krueger - World economy near turning point
UK - The world economy is at or near a turning point, which makes it difficult for central banks to make the right decisions on interest rates, International Monetary Fund First Deputy Managing Director Anne Krueger said Monday.
Gold loses its shine as banks sell, costs fall
AUSTRALIA - A third of the gold ever mined, or 30,000 tonnes, is stored in central banks around the world. The banks want to lower their reserves in favour of higher yielding investments such as bonds and currency.
Fed wants banks' help with cash - handling
US - The Federal Reserve says its resources are increasingly taxed by banks' growing habit of placing currency on deposit with the central bank, and it plans to call on bankers to figure out a solution to the problem.
Currency dealing liberalised in China
CHINA - The central bank has eased controls on foreign-exchange dealing by domestic banks to put them on an equal footing with foreign competitors, it was reported.
India frees up bank investment rules
INDIA - Shares in India's leading banks have jumped by as much as 20%, after the government relaxed its rules on foreign investment.
Crucial factors for online banking
MALAYSIA - In order to provide Internet or online banking, banks operating in Malaysia are required by Bank Negara (BNM) to employ the services of a well mandated or a trusted security system.
Central bank research paper by Alain Durre
RESEARCH - Would it be optimal for central banks to include asset prices in their loss function? by Alain Durre, Universite Catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
Banks review systems for managing risk
UK - Risk managers at banks in Britain and Ireland are re-examining defences against rogue traders following the loss of $750m (£532m) by Allied Irish Banks last week.
Israeli regulators warn banks
ISRAEL - Israeli regulators warned commercial banks they looked to be inadequately covered against a surge in foreign-currency lending last year and urged them to tighten standards.
Argentina halts currency trading
ARGENTINA - The Argentine Government has extended the closure of banks and foreign exchange centres until 11 February, giving the market more time to prepare for a full flotation of the peso.
Argentina delays floating peso
ARGENTINA - The Argentine Government has extended the closure of banks and foreign exchange centres for another two days, suspending plans to fully float the peso.
Foreign banks play down euro importance to City
UK - Foreign banks operating in London believe that the City's success does not depend on the euro.
Speech by Dr Y.V. Reddy of Reserve Bank of India
SPEECH - In the speech titled 'Indian Banking: Paradigm Shift in Public Policy' Reddy said the country's central bank desired to move to a 3 per cent cash reserve ratio (CRR) regime.
Czech Havel meets Niedermayer on his cbank post
CZECH REPUBLIC - Czech President Vaclav Havel met central bank (CNB) Vice-Governor Ludek Niedermayer late on Monday to discuss his future on the bank's policy-setting board, Havel's spokesman said on Tuesday.
SNB sell 10.3 tons of gold in latest 10-day period
SWITZERLAND - The Swiss National Bank sold around 10.3 metric tons of surplus gold in the 10-day reporting period ended 31 January, the central bank's regular statistical report showed Friday.
Credit card clean-up in Australia
AUSTRALIA - The Reserve Bank of Australia is poised to make sweeping changes to credit card regulations in 2002. Should it prohibit the banks' interchange fee structure, as has already been flagged, Australia's banks will lose a collective $A400 million…
Fed's Poole - C banks mustn't risk price stability
US - St. Louis Federal Reserve President William Poole warned on Monday that central banks should not chase economic stability at the expense of stable prices.
US economists to free up Argentine bank system
ARGENTINA - Adam Lerrick and Allan Meltzer, two prominent US economists, have proposed a new scheme to allow Argentines to use the money locked up in the banking system without triggering a collapse of the banks - arguably the single largest problem…
Fed's Meyer - A little inflation better than none
US - Outgoing Federal Reserve Governor Laurence Meyer said on Wednesday that the U.S. central bank's commitment to price stability should not be taken as a goal to eliminate inflation entirely.
SocGen halt processing of checks from Israel banks
FRANCE - French bank Societe Generale SA (F.SGF) said Wednesday it has stopped accepting checks from its correspondent banks in Israel for a temporary period of two months amid the furore over an alleged money-laundering ring.
Pakistan central bank governor announces new plan
PAKISTAN - As of 1 July, 2002, all non-banking financial services in Pakistan, such as investment and corporate advisory service; leasing, housing finance and venture capital companies and discount houses, will be regulated by the Securities and Exchange…
Bank of Canada Working Paper Series
RESEARCH - Why Do Central Banks Smooth Interest Rates? by Gabriel Srour, Research Department, Bank of Canada.
Fears that euro ATMs will run dry
UK - The stock of euro notes in banks' cash machines is in danger of running out in the first weeks of the new currency's launch on 1 January, bankers have warned.
Euro Profits Bonanza
CENTRALBANKNET SPECIAL REPORT - Europe's national central banks stand to profit to the tune of billions of euros as a result of retiring Europe's existing paper currencies and introducing a single currency.