samchain/econo-pairs-v2 huggingface dataset:
the financial times. fdi into kenya by project numbers increased by 47 percent, reaching 84 announced projects, compared with increases in ghana ( 21 percent ), nigeria ( 19 percent ), egypt ( 14 percent ) and south africa ( 3 percent ). likewise kenya ranks high as a home country for fdi. in particular, fdi out of kenya by capital investment reached us $ 1 billion in 2015 placing it tenth in the middle east and africa region compared with u. a. e. ( us $ 21. 8 billion ), south africa ( us $ 2. 5 billion ), mauritius ( us $ 2. 1 billion ), and egypt ( us $ 1. 7 billion ). key trends on foreign inflows in 2015, reported in the economic survey, include : • fdi into kenya increased by 8. 4 percent to us $ 1. 5 billion in 2015 • portfolio investments declined from us $ 3. 4 billion to us $ 34 million in 2015 on the backdrop of the sovereign bond issuance in 2014 • other investment flows more than doubled from us $ 2. 2 billion to us $ 4. 6 billion in bis central bankers ’ speeches analysis by sector indicates that the top five recipient sectors of fdi inflows include : wholesale and retail trade, financial and insurance, manufacturing, construction, and electricity and gas supply. allow me now to touch on three global developments that are likely to have implications for foreign investment flows to our country. • first, the subdued global economic growth that has been worsened by the prolonged period of uncertainty relating to the slowdown and rebalancing of the chinese economy, lower commodity prices, and geopolitical developments and concerns surrounding “ brexit ”. consequently, global growth is now projected at a worrisome 3. 1 percent in 2016. the fact that central banks in advanced economies are maintaining an accommodative stance is a clear indication that the global economy has not yet recovered to sustainable levels. in addition, most of the emerging economies have faced volatile capital flows and exchange rates attributable to the accommodative policies, and the prospects of unwinding the unconventional monetary policies. • second, the ongoing divestiture of major international companies around africa, as reflected in a number of multinational enterprises downsizing their assets through outright sale and transfer to domestic companies, otherwise referred to as derisking. the main problem we observe with this process is the ambiguity and poor information flow on the measures by

in the future, to have one of the most efficient and robust payment systems in the world. this will require change and willingness to invest. we have a job to do, but we have what is required to succeed. 5 / 5 bis central bankers'speeches
benoit cœure : interview with the association of german pfandbrief banks interview with mr benoit cœure, member of the executive board of the european central bank, and the association of german pfandbrief banks, published on 8 may 2019. * * * in what context did you first come across pfandbriefe? before joining the ecb, i spent five years managing france ’ s debt and cash at agence france tresor, the french equivalent of the finance agency in germany. that ’ s when i first came across pfandbriefe as an important building block of europe ’ s fixed income market. what is the importance of pfandbriefe and other covered bonds in monetary transmission? covered bonds play an important role in the monetary policy transmission process, in particular in a traditionally bank - based economy like the euro area. the covered bond purchase programme, for example, has lowered banks ’ funding costs directly and thereby encouraged banks to extend more credit to firms and households at more attractive levels. it was not by chance that covered bonds were the first asset class to be purchased outright by the eurosystem for monetary policy purposes in 2009. in addition, covered bonds make up a large share of the collateral that banks use to borrow funds in eurosystem monetary policy operations, ensuring that banks have access to central bank funding. do you think the harmonisation of covered bonds will be a success? the ecb supports efforts to create a harmonised, high - quality and transparent covered bond market in the european union. the legislative proposal on covered bonds made by the european commission in march 2018 is an important step in that direction, also with a view to promoting a further deepening of the capital markets union. the ecb also sees merit in the proposed directive serving as a basis for new national legislation on covered bonds. finally, the importance of private initiatives to achieve harmonisation should also be emphasised, in particular the covered bond label created by the european covered bond council in 2012. national differences will of course not vanish overnight, but i am confident that practices will increasingly converge across eu countries over time. will innovation, e. g. ” green ” covered bonds transform the market and, if so, how? successful innovations, if managed prudently, have always been important drivers of financial market developments. in the covered bond market, as in other market segments, i see “ green ” covered bonds as a promising innovation and transformation for the future,

monetary policy.
amando m tetangco, jr : the 2006 bsp praise awards – a harvest of excellence speech by mr amando m tetangco, jr, governor of the central bank of the philippines ( bangko sentral ng pilipinas ), at the 2006 bsp praise awarding ceremony, manila, 25 july 2007. * * * members of the monetary board, civil service commission field officer eva olmedillo, our 2006 bangko sentral praise awardees, fellow central bankers, magandang umaga po sa inyong lahat! i am very pleased to know from deputy governor andy suratos and director dong asperilla that this morning we have a total of 460 awardees under our 2006 praise program. these are awardees who scaled the bar of excellence within the bangko sentral ng pilipinas! ladies and gentlemen, let us congratulate and thank our awardees by giving them another well - deserved round of applause! excellence is what we strive for at the bangko sentral ng pilipinas. excellence in the pursuit of our mandate to ensure stable prices and a sound banking system. excellence in the way we do things. we should be conscious of this at all times, for our actions here at the bangko sentral affect the lives of millions of filipinos. filipinos we have pledged to serve to the best of our abilities. arthur schelesinger, jr., the american historian and social critic, once said “ excellence is the eternal quest. we achieve it by living up to our highest intellectual standards and our finest moral intuitions. ” i hope therefore that excellence will be the constant standard at the bangko sentral. while the bangko sentral is consistently regarded as a top performing government agency, you and i know there are still many areas we can improve on. this is the focus of our ongoing strategic planning sessions. i challenge our awardees as well to expand the circles of excellence in their respective areas, to become good role models, and to serve as constant inspiration to their colleagues. never lose sight of what your awards stand for : bangko sentral ’ s commitment to excellence in serving the filipino people. muli, bigyan po natin ng mainit na palakpakan ang ating mga awardees! finally, let us acknowledge the significant contributions of the following to the continuing success of the bangko sentral ng pilipinas with a big round of applause : the members of our

monetary board including dr. vicente valdepenas, jr. ; atty. raul boncan, sr. ; mrs. juanita amatong ; atty. nelly favis - villafuerte ; mr. alfredo antonio ; and socio - economic planning secretary romy neri. let us also acknowledge our three hardworking deputy governors, in alphabetical order – nesting espenilla, diwa guinigundo and andy suratos ; assistant governors jun de zuniga, vic aquino, dolly yuvienco, eve avila, tessie hatta ; and finally, all the other officers and staff of the bangko sentral ng pilipinas! you all make me proud to be a central banker! marami pong salamat sa inyong lahat! mabuhay ang bangko sentral ng pilipinas!
, thailand, philippines, brunei, vietnam, cambodia, singapore. 2 insurance cover against equipment / goods in transit 5 / 5 bis central bankers'speeches

ravi menon : net zero - act now, act fast, act together keynote speech by mr ravi menon, managing director of the monetary authority of singapore, at the cop27 singapore pavilion finance day, sharm el - sheikh, 9 november 2022. * * * good morning, ladies and gentlemen. welcome to the singapore pavilion's finance day, hosted by the monetary authority of singapore ( mas ). climate change is no longer a prediction, it is becoming a reality. the frequency and intensity of today's extreme weather events have exceeded early climate models. we are in a race for our lives, to reach net - zero greenhouse gas emissions by 2050. unless we act now, act fast, and act together, we will lose that race. we need to act now to start reducing emissions. the world is currently far from a net - zero emissions trajectory. global greenhouse gas emissions are still rising, not falling. if we do not act now to start decarbonising, we risk breaching tipping points that will lead to catastrophic and irreversible climate change, with unimaginable risks to lives and livelihoods. we need to act fast to finance the transition to net - zero. decarbonisation is a costly affair. we must also balance decarbonisation and development. the world requires significant financing for sustainable development and new technologies to reach net zero by 2050 - by some estimates, us $ 9. 2 trillion annually. this is us $ 3. 5 trillion more than the annual investment today. and we need to act together. the climate challenge is too big for governments or any one country to solve. we need a global effort and a whole - of - society approach within each country. effective partnerships across the public, private, and people sectors will be key to mobilise the financing necessary for an effective and just transition. as a leading global financial centre in asia, singapore can play an important role in mobilising this capital, especially to support asia's transition to net - zero. at the singapore pavilion, we have set out how we will do this through three key strategies : blended finance to mobilise private capital for the transition carbon markets to facilitate emissions abatement and inclusivity good - quality data to support credible disclosure and track progress first strategy - blended finance to synergise public and private capital for projects that are marginally bankable. many green and transition projects in emerging markets pose risks that are not com
the financial stability oversight council has designated four key nonbanking institutions as “ systemically important financial institutions, ” and these firms are also subject to supervision and regulation by the federal reserve. these changes in supervision and regulation, along with the enhancement of resolution mechanisms for financial institutions, have made the financial system more resilient and lessened the probability that a lender of last resort will be needed to deal with financial stresses in the future. because the regulated firms are much better capitalized, doubts about their financial condition are less likely to arise, making them in turn less likely to lose access to funding in the marketplace. moreover, their substantial stockpiles of liquid assets should allow them to weather temporary periods of illiquidity without assistance or, if necessary, provide time for the authorities to implement an orderly resolution. while we have likely reduced the probability that lender of last resort loans will be needed in the future, we have not reduced that probability to zero. we could, presumably, require bis central bankers ’ speeches financial institutions to fund illiquid assets entirely with longer - term debt and equity or, equivalently, allow them to use short - term liabilities to fund only safe and highly liquid assets. however, such an approach would be costly in terms of reduced lending to american businesses and households. moreover, as yields on credit products rise and yields on cashlike instruments decline, lending would become increasingly profitable and would likely move outside the regulated sector, probably leading to a need to widen the regulatory perimeter of the financial system. lending to insured depository institutions although attention following the passage of dodd - frank act has focused on the limitations it places on lender - of - last - resort lending, it must be noted that, if necessary and appropriate, the federal reserve has the authority to act as lender of last resort in several ways. most importantly, the fed retains the power to extend discount window loans to insured depository institutions – including commercial banks, thrift institutions, credit unions, or u. s. branches and agencies of foreign banks. such loans can be to individual institutions facing funding pressures, or they can be to banks more generally to address broader financial stresses. 1 since the great depression, the fed ’ s actions as lender of last resort were undertaken using its authority to provide discount window funding to insured depository institutions. such was the case in the federal reserve ’ s reaction to the penn central default of 1970, the stock market crash of 1987,

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financial market, enabling a fair competition between financial institutions that ensure increased access to finance and improvement of conditions, but will never allow the operation of those institutions that do not comply with the regulatory and legal requirements of the country, and of those that take advantage of the difficult financial conditions in which a part of our citizens may find themselves, bringing services which impoverish them and make their lives even more difficult. 2 / 2 bis - central bankers'speeches

, financial 1 / 2 bis - central bankers'speeches institutions and non - banking financial institutions, decided to revoke the registration and initiate liquidation procedures for the microfinance institution " iute credit kosovo " j. s. c. cbk has been and remains confident in the legality and proportionality of the decisions, in relation to this institution and all the decisions issued by its executive bodies. the institution in question, in accordance with their legal right, had initiated a claim before the international arbitration, to dispute the legality of the decision of the executive board of the cbk. cbk thanks the government of the republic of kosovo for initiating the allocation of funds for the defence of the republic of kosovo during the arbitration. the cbk also thanks the ministry of justice and the state bar for establishing direct contact between the cbk and the defence firm for the republic of kosovo. from the beginning, i appointed the former deputy governor sokol havolli as the bearer of this process, who, in cooperation with his subordinates, successfully carried out every phase in defence of the republic of kosovo, being also the key witness at the arbitration. also, i seize the opportunity to congratulate all the other employees at cbk who have been on top of their duties throughout the entire work and defence process. our faith in the professionalism of the employees at cbk has never wavered. as a result of all this commitment and a professional process by the central bank of the republic of kosovo, we have managed to have an epilogue 100 % in favour of the country. as the bearer of all responsibilities within the institution i lead, i feel happy with this result and with all the results achieved over the years. as important as the result is the fact that the costs associated with this process will be borne by the claimant. i feel special pride that i have managed to protect the state, the citizens, the institution, and financial stability throughout this time, in cooperation with all my colleagues at the cbk. at different times, we have faced challenges and orchestrated attacks from both inside and outside, which were intended to damage the processes of cbk but also my reputation, the reputation of cbk and that of the republic of kosovo. in some cases, they have made me feel bad. but i have never felt that i am not following the law. finally, let me inform you that the central bank of the republic of kosovo is committed to creating conditions for increasing healthy competition in our
. i have also focused on the need to increase credit to smes as also look into aspects of creating an enabling environment for long - term financing. reduction in npa levels and appropriate risk management by banks would go a long way in improving efficiency of banks and inculcating a sound credit culture.

1. 8 - 0. 3 15. 3 11. 6 7. 2 8. 7 4. 8 2. 9 6. 8 12. 5 6. 8 1. 9 average 1990 - 91 to 1995 - 96 1996 - 97 to 2001 - 02 * data are exclusive of rrbs and pertain to last friday of march. source : ( 1 ) statistical tables relating to banks. ( 2 ) handbook of statistics on indian economy. * for borrowers : weighted average lending rate - inflation rate of manufacturing goods for goverenment : weighted average yield - wpi inflation ratefor depositors : average interest rate - cpi inflation rate a cross country comparison of interest rate trends during the 1990s provides some interesting insights ( table 2 ). the average inflation rate in all these countries has come down during the second half of that decade ( 1997 - 2001 ) as compared to the first half. in line with this, the average money market interest rates and government securities yields have also come down in real terms in most countries. on the lending side, however, prime rates in some countries have not shown similar falls in real interest rates ( uk, germany, japan, thailand and hungary ). thus, the indian experience of sticky real lending rates is not unique. but, preliminary estimates do show a high correlation between government securities yields and real lending rate in japan, india and germany during the 1990s as a whole. hence, the downward rigidity in lending rates in india as compared with the government securities rates during the second half of the 1990s does seem more surprising in this context. it would seem that changes in inflationary expectations take a little longer to adjust than inflation rates themselves. it would be rational for interest rates to be related to inflationary expectations, and in particular long - term interest rates. therefore, bank economists have an important role of informing the management of appropriate inflationary expectations so that interest rates can be adjusted more systematically. usa, uk, germany, japan, korea, thailand, china and hungary. table 2 comparative picture on international real interest rates money market rate long - term g - sec yield prime rate inflation rate gdp growth 1991 to 1996 1. 50 3. 71 4. 40 3. 09 2. 58 1997 to 2001 2. 73 3. 20 5. 73 2. 46 3. 37 1991 to 1996 4. 05 5. 30 4. 25 3. 25 1. 92 1997 to 2001 3. 40 2. 77 3. 46 2. 57 2. 76 1991
sector and here i think more work is also needed on restructuring the finances of many small firms whose underlying viable business is threatened by the overhand of property - related debt that they accumulated on the side, so to speak. this is a challenging work out job for the banks to tackle, and it needs to be done expeditiously in order to ensure that viable businesses are not overwhelmed but can instead resume their contribution to the economic recovery.

of my distinguished fellow speakers, answering your questions and hearing your views. the banking crisis – a decade on references i with thanks to michael mcinerney and martin maloney for their assistance in drafting these remarks. ii george santayana ( 1863 - 1952 ), reason in common sense, the life of reason, vol. 1 iii lawrence m ball, the fed and lehman brothers iv david aikman, jonathan bridges, anil kashyap and caspar siegert, bank of england staff working paper no. 747, “ would macroprudential regulation have prevented the last crisis? ” v christine lagarde, “ ten years after lehman – lessons learned and challenges ahead. ” vi see also nyberg report and banking inquiry report vii patrick honohan, the irish banking crisis, regulatory and financial stability policy, 2003 - 2008 viii see also mark cassidy, ireland ’ s experience after an adjustment programme ix see central statistics office - census of population 2016 - profile 1 housing in ireland x department of housing, planning and local government : housing stock 1991 to date xi see sharon donnery, trevor fitzpatrick, darren greaney, fergal mccann, and micheal o ’ keeffe “ resolving non - performing loans in ireland : 2010 - 2018 ” in quarterly bulletin 2018 q2. xii see “ cures and exits : an investigation of the drivers of npl resolution in ireland since 2012 ”, fergal mccann and niall mcgeever xiii see central bank mortgage arrears statistics xiv see enda keenan and martin o ’ brien ( 2018 ) “ new mortgage lending activity in a comparative context ”, central bank of ireland economic letter, vol 2018 no 5. xv measured as whether a borrower has submitted a standard financial statement in accordance with the mortgage arrears resolution process. xvi see ed sibley, the irish mortgage market – 2018 and beyond for a more detailed discussion on this xvii figures derived from analysis of legal proceeding issued for loans in arrears as at 31 december 2017 by statistics division of the central bank xviii the capital requirements regulation ( eu ) no. 575 / 2013 ( crr ) and directive 2013 / 36 / eu ( crd iv ) came into effect on 1 january 2014. the crr is directly applicable to all member states while crd iv has been transposed into irish national law via statutory instruments 158 / 2014 [ european union ( capital requirements ) regulations 2014 ] & 159 / 2014 [ european union ( capital requirements ) (