News
Fed governor Roger Ferguson reappointed until 2014
Roger Ferguson, the Federal Reserve vice-chair whose future has been put on ice by Capitol Hill Republicans since 1999, received a major vote of confidence from the Bush administration on Mar 5, 2001.
Canada gold sale said part of established program
Canada's sale of 20,000 ounces of gold in Feb 2001 was made as part of an established program to sell all of the precious metal held by the central bank, a finance ministry official said on Mar 5, 2001.
S&P monitors impact of Malaysian financial plan
The Financial Sector Masterplan recently announced by Malaysia's central bank is expected to improve the global competitiveness of the country's financial services sector, but its benefits are unlikely to be immediate, said a Standard & Poor's press…
Bank watchdog quits as Turkey brings in outsider
The head of Turkey's banking watchdog resigned suddenly on Mar 3, 2001, casting a shadow over the appointment of an economic "superminister" to solve Turkey's woes.
Fabius cool to idea of ECB counterweight - paper
French Finance Minister Laurent Fabius has distanced himself from suggestions there should be an "economic government" for the euro zone to form a counterweight to the European Central Bank, according to a newspaper interview published on Mar 2, 2001.
Labuan IOFC to be further developed-Bank Negara
Bank Negara Malasyia, the Malaysian central bank, in its Financial Sector Masterplan has made recommendations to further develop the Labuan International Offshore Financial Centre (IOFC) in three main areas of activity.
Dublin ECB date in doubt on foot-and-mouth fears
The likelihood of a planned European Central Bank meeting taking place in Dublin later this month was thrown into doubt on Mar 2, 2001 as Ireland stepped up measures against the risk of foot-and-mouth disease
Turkey to name deputy c.banker as governor-sources
Turkey will name central bank deputy governor Sureyya Serdengecti as governor of the bank after the resignation of Gazi Ercel over a financial crisis that slashed the value of the lira, government sources said on Mar 2, 2001.
Argentine cbank head called 'lax on control'
Argentine Central Bank President Pedro Pou opened the door for widespread money laundering with derelict financial controls, a member of a congressional committee investigating whether the banker should be dismissed said on Mar 2, 2001.
BOK reports 1.5 trillion won in profits for 2000
The Bank of Korea has reported after-tax profits of 1,483 billion won in 2000, down 1,696 billion won from 1999.
US 'debt free' by 2030 - Alan Greenspan
Testifying on Mar 2, 2001 before the Committee on the Budget of the US House of Representatives, Fed chairman, Alan Greenspan, outlined the implications of the US goverment's extraordinaryly healthy fiscal position.
US think-tank to study cross-border settlement
The Group of Thirty, the private Washington-based think-tank, is to undertake a new study of securities clearing and settlement arrangements in global capital markets, with a particular emphasis on cross-border activity.
Venezuelan cbank to introduce interbank ref rates
The Central Bank of Venezuela is planning to introduce a new electronic interbank trading system that should result in the creation of interbank rates of reference and greater efficiencies in interbank lending.
Argentine minister says bank chief 'should quit'
Argentina's Interior Minister said Mar 1, 2001 a congressional panel probing allegations the country's Central Bank chief turned a blind eye to money laundering should recommend the banker step aside.
ECB surprises by leaving rates unchanged
The European Central Bank on Mar 1, 2001 surprised financial markets by leaving interest rates unchanged, showing that it was not yet ready to follow a series of recent rate cuts by the world's other top central banks.
OECD's Visco -Fed should not overreact to slowdown
The U.S. Federal Reserve should not cut interest rates too much in the face of its slowing economy in case this jeopardised price stability, the chief economist for the Organisation for Economic Cooperation and Development, Ignazio Visco, warned on Mar 1.
Malaysia bars new foreign banks until 2007
Malaysia's central bank said on Mar 1, 2001 no new foreign banks will be allowed to enter the domestic market until after 2007, giving local banks time to prepare for a decade of trade liberalisation.
Tanzanian banking sector to continue deregulation
Liberalization of Tanzania's financial institutions has set a strong basis for increased investments and economic growth, the country's Finance Minister Basil Mramba has said.
Turkey seeks World Banker's help to recover
Senior Turkish World Banker Kemal Dervis arrived in Ankara on Mar 1, 2001 for talks with the prime minister that many are hoping will herald the formation of a new economic team capable of restoring calm.
IMF establishing international capital market dept
The International Monetary Fund (IMF) will establish an International Capital Markets Department to enhance its surveillance, crisis prevention and crisis management activities, the Fund announced on Mar 1, 2001.
IMF advises integrating Korea finance supervisors
A report from the International Monetary Fund has advised South Korea that the Financial Supervisory Commission and the Financial Supervisory Service merge into a single organization, with the status of its chairman on par with the central bank governor.
World Bank's Dervis accepts Turk cenbank job-TV
Long-serving senior World Bank official Kemal Dervis has accepted the job of Turkey's Central Bank governor, vacated by Gazi Ercel after last week's financial crisis, television station NTV quoted deputy prime minister Mesut Yilmaz as saying on Feb 28,…
BOJ cuts rates on weak economy, deflation fears
The Bank of Japan surprised financial markets and pleased politicians on Feb 28, 2001 by cutting its key interest rates in response to a sudden turn for the worse in the world's second-largest economy.
NZ govt monetary review suggests adopting MPC
A government review of the Reserve Bank of New Zealand's monetary policy by Swedish academic Professor Lars Svensson recommended the setting up of a formal monetary policy committee and altering the RBNZ's inflation objective to more formally target 1.5…