Financial Stability
Serb payment reform to prompt new bank mergers
Yugoslavia will shift responsibility for payment systems in January 2003 to commercial banks and away from the state controlled central bank. The move towards a more competitive payment systems market is likely to prove a testing time for Serbia and…
Recommendations for Securities Settlement Systems
REPORT - Assessment methodology for "Recommendations for Securities Settlement Systems" CPSS Publications No. 51, November 2002.
RBZ launches new payment system
ZIMBABWE - Starting on November 18, the Reserve Bank of Zimbabwe (RBZ) will introduce an electronic transfer and settlement system (ZETSS) that will link Zimbabwe's commercial banks in the movement of funds among participating banks using settlement…
Yugoslav bank chief rejects Montenegro's proposals
YUGOSLAVIA - Yugoslav National Bank Governor Mladjan Dinkic said Friday that in defining a payment operations' system with Serbia, Montenegro is insisting on solutions that are without parallel anywhere in the world, adding that Serbia will not accept…
Barbados c bank publishes new e banking guidelines
BARBADOS - The Central Bank of Barbados has published new guidelines for electronic banking in the island.
Norges Bank Press Release
PRESS RELEASE - The payment systems have become more efficient, 6 November.
Review of Globalization and its Discontents
Joseph Stiglitz’s capacity to shock is not in doubt. But his view of globalisation is too narrow, and he is wide of the mark on the discontent, suggests Graham Bannock.
The euro goes East
Tommaso Padoa-Schioppa reports the results of a survey by the ECB on the private holdings and use of the euro outside the euro area itself.
Review of Argentina and the Fund: from triumph to tragedy
While Michael Mussa honestly recognises Fund failings, Benedict Mander finds his suggested tweaks for the system disappointingly conservative.
Review of Financial crises and what to do about them
Barry Eichengreen finds a middle way between past policy failings and current lofty aims in his financial crisis handbook, says Benedict Mander.
Development of the Saudi banking system
SAMA has been actively involved in regulation and supervision, and has taken the lead in the development of the payments system in Saudi Arabia.
A new Bank of Mongolia
Bank of Mongolia has assumed a pivotal role in transforming the former planned economy, reports Blair Baker in Ulaanbaatar.
How to get growth in Japan
What Japan needs is a massive boost, not to the monetary base, but to domestic credit creation. Richard Werner outlines how this could be brought about.
Thailand's credit card rate to be capped at 18%
THAILAND - Interest rates and charges for credit cards issued by both banks and non-banks should be capped at 18%, says Finance Minister Somkid Jatusripitak.
Thai central bank and govt to discuss credit cards
THAILAND - The Bank of Thailand and the Finance Ministry will meet this week to finalise details of a new regulatory structure for non-bank credit card issuers.
Major revolution in Nigeria's bank industry begins
NIGERIA - A major revolution in Nigeria's banking industry began Monday with the automation of cheque clearing among all 90 banks in the country. The launching of the Nigerian Automated Clearing System (NACS), an arm of the Nigeria Inter-Bank Settlement…
Zambian central bank to introduce high value notes
ZAMBIA - The Bank of Zambia said Saturday it has embarked on a national currency restructuring program that will ultimately result in the launching of high value notes in 50,000kwacha (US$10.99)and 20,000kwacha denominations.
New Afghan banknotes go into circulation in north
AFGHANISTAN - New Afghan banknotes have been officially put in circulation in the northern zone. The ceremony started with a recitation from the holy Koran.
Non-bank credit card rules due in Thailand
THAILAND - Financial regulators were directed to draft measures to regulate credit cards issued by non-bank institutions by next month. Prime Minister Thaksin Shinawatra yesterday chaired a meeting on a proposed new credit card bill.
Polymer notes not now: RBI
INDIA - The Reserve Bank of India has said that there is no immediate plan to introduce polymer or plastic currency notes to replace the existing paper notes.
Central Bank of Russia offers more zodiac coins
RUSSIA - The Central Bank of Russia will issue more coins of the Zodiac series, starting tomorrow. It will be Scorpio now-silver two-rouble pieces and gold 25 roubles. Up to 20,000 silver coins will appear in circulation, and up to 50,000 gold, said the…
New Afghan currency to come into circulation 7 Oct
AFGHANISTAN - The head of Da Afghanistan Bank, the central bank, Dr Anwar al-Haq Ahadi, has said the new currency will be put into circulation on 15 Mizan [7 October 2002] and said that the exchange process of the old currency for the new one will be…
Afghan trade minister speaks of new currency
AFGHANISTAN - The trade minister of Afghanistan, Sayd Mostafa Kazemi, has said that Afghanistan has a positive view on capital and capital investment. He also said the new currency of Afghanistan will be a credible currency and our central bank has the…
Plastic Rs 500-notes coming soon in India
INDIA - Plastic money will soon gain currency in India. Currency notes, printed on a special, thin PVC (poly vinyl chloride) film, are likely to replace their paper counterparts from 2003.