Banks
Central banks autonomy under global pressure
INDIA - Even though central banks may gain independence from their respective Governments, they may tend to be circumscribed by the compulsions of the international financial community, according to Dr Y.V. Reddy, Deputy Governor, Reserve Bank of India.
Customer due diligence for banks
RESEARCH - Basel Committee Publications No. 85, October 2001, customer due diligence for banks.
Banks need no RBI nod for online debit cards
INDIA - Banks will not be required to seek the approval from the Reserve Bank of India (RBI) for introducing online debit cards, where straight-through-processing is done.
Japan moves to step up bank client checks
JAPAN - Japanese financial authorities are set to propose legislation that will force banks to strengthen background checks on customers in the wake of the 11 September terrorist attacks on the US.
Federal Reserve - Press Release
PRESS RELEASE - The Federal Reserve Board on Friday announced the appointment of chairmen and deputy chairmen of the twelve Federal Reserve Banks for 2002.
Philippine central bank orders banks to prepare
PHILIPPINES - The central bank has required banks to submit a contingency plan within 30 days to contain possible risks arising from the terrorist attacks in the US last month, central bank deputy governor Alberto Reyes said.
India banks non-compliant with RBI for net banking
INDIA - None of the banks in the country which offer internet banking facilities today has an IT security policy as stipulated by the Reserve Bank of India.
RBNZ reminder re economic sanctions
NEWS RELEASE - The Reserve Bank has written to banks and financial institutions reminding them of their obligations in regard to United Nations sanctions that apply in New Zealand.
Nigeria's central bank raises rates
NIGERIA - The Central Bank of Nigeria has raised the interest rate at which it lends to commercial banks by 2%, bucking the trend of globally coordinated rate cuts in the wake of the attacks on the US.
History of central bank intervention
UK - Following is a chronology of intervention in foreign exchange markets by central banks from major industrial nations on the dollar, the yen, the German mark and the euro.
HKMA says no evidence of Bin Laden deposits in bks
HONG KONG - Hong Kong's quasi-central bank said Wednesday 19 September it has no evidence that Osama bin Laden, the prime suspect in last week's U.S. terrorist attacks, and his associates are keeping cash in the city's banks.
Report - Central banks did not act together
US - Unlike the co-ordinated monetary policy moves that were the hallmark of international economic co-operation of the 1980s, the spate of interest rate cuts that rippled around the world on Monday and Tuesday was not a pre-arranged exercise by G7…
Russians allowed to open accounts in foreign banks
RUSSIA - Russia's Central Bank allowed Russian citizens to open accounts in foreign banks for non-business purposes, according to the CBR ruling, published in CBR's official bulletin today, 19 September. The ruling takes affect in ten days.
Central banks act to soften the economic blow
US - The world's central banks and financial regulators have been in constant contact over the weekend to discuss emergency measures to prevent last week's human catastrophe turning into a financial and economic disaster.
BoE/ Fed Rate Cut Suggests no coordinated effort
UK - The Bank of England said Monday 17 September that it does not comment on monetary policy decisions carried out by other central banks.
Central banks boost anti-crisis moves
WORLD - Central banks around the world have stepped up their efforts to minimise the economic and financial-market fallout from the US attacks.
Ukrainian cb threat to fine banks for risky trade
UKRAINE - Ukrainian central bank threatens to fine banks for risky transactions.
Dlr swap seen as more than a confidence measure
UK - In another move to ensure market liquidity, central banks Thursday 13 September established swap facilities to alleviate the tight dollar market in Europe - a move welcomed by the financial industry.
Central banks ease fears of global gridlock
WORLD - Central banks worldwide took swift action on Wednesday 12 Sep to keep financial markets working, pumping in additional money where needed. The Bank of Japan reacted quickly to soothe fears of a global gridlock, and was swiftly followed by other…
Talks on Russian bank reforms
RUSSIA - Top national and international policymakers are set to meet at Russia's central bank today, Tuesday 11 Sep, to discuss options for restructuring the country's banks.
Kazakh bank boss cuts beard as deposits top $1 bln
KAZAKHSTAN - Kazakh central bank boss Grigory Marchenko shaved off his beard on Wednesday, 5 September, - fulfilling a vow to sacrifice his whiskers once private deposits in Kazakh banks topped $1 billion, Reuters reports from Almaty.
Banks get set for euro clearing
UK - The financial system took a significant step towards readiness for the single currency yesterday when the £300bn-a-day clearing system moved on to a euro-compatible platform.
NBU recommends quick euro change
UKRAINE - The National Bank of Ukraine is recommending that commercial banks quickly get rid of the national currencies of the member-countries of the European Currency Union in favour of the euro.
Regulators to order banks to publicly reveal more
PHILIPPINES - The Bangko Sentral ng Pilipinas (BSP) will soon implement stricter disclosure requirements for banks as part of its thrust to promote greater transparency in the industry.