samchain/econo-pairs-v2 huggingface dataset:
businesses aware of the advantages of the operation of this system, as both systems together will help reach the international standards of atm and aips ( automatic and electronic payment equipments ), per population number. the challenge to the banking system and businesses, but also to the bank of albania, still remains the public encouragement to use them. so, to put this into practice, i shall stimulate the banking system to become more active, that is banks should provide to the households and businesses clear and ready products, quick and efficient services. given the latest developments in the banking system and the increasing number of the branches as well as the increasing banking services, i advocate the banking system will be more attractive in 2005. i consider the optimistic signals of the previous year will be followed by more vigorous operations of the banking system related to the business of electronic card payments. in this spirit i would say that banking system solutions properly consist in issuing a unified card. evidently, steps to be taken in this direction will be more complex, and naturally some of them imply inter - institutional cooperation. bank of albania is already paving the way toward wider use of cards in albania. credit cards service shall not only contribute to cash reduction in the economy, but also provide a positive impact on the reduction of informal economy. however, i deem as important encouraging and stimulating the banking system in order the service level be uniformly present all over the albanian territory where banks conduct their activity. only in this manner electronic payment advantages and all other facilities will be equal to you and to all the public in general throughout the territory of the republic of albania. i believe, in the spirit of this reasoning, we shall establish real opportunities for a harmonised geographical progress, providing a concrete contribution to the growth of country ’ s welfare.

attractiveness of these instruments in their portfolios. however, there are early signs of a more active secondary market beginning to resurface as turnover has increased in the past year. 4. conclusion the stable inflation environment means that the fixed income structure of bonds has become relatively more attractive to investors with risk profiles that demand a steady real rate of return. also, economic growth has been more robust in recent years amid heightened investor optimism about the country's future prospects. improved economic fundamentals translate into enhanced growth prospects for south african corporates and a concomitant need for long - term debt financing. the development of this sector of the bond market offers borrowers in the private sector access to long - term finance from the capital markets. i am aware that some of south africa ’ s important corporates are here to participate in this conference. we look forward with keen interest to your contributions to the growth of this sector of the market. i wish you well during your deliberations. thank you for your attention.
fund early recovery and reconstruction in affected areas. the members of the task force appeal to all of you to support this program. together, let us get this program going! marami pong salamat sa inyong lahat.

##match. in terms of the nsfr, a 366 - day maturity is the same as a 30 - year maturity. this is not just a theoretical concern. in the case of svb, despite extreme maturity imbalance in the bank's balance sheet, the nsfr, had it been applied, would not have detected any anomaly. one possible way to address this weakness would be an'nsfr + ', based on a more granular maturity classification of assets and liabilities. many years ago, the bank of italy used to have a rough - and - ready maturity transformation rule to prevent extreme cases. one could build on such experiences. the lcr fared better in the svb case ( as i said, it would have signalled potential distress well in advance ) 4. however, remote banking and the effect of news spreading at lightning speed on social networks have greatly increased the potential volatility of zero - maturity bank liabilities. this might challenge the current treatment of sight deposits. concentration ( an issue that is related to uninsured deposits ) is also a concern. some further reflection on mandatory pre - positioning of collateral would also be in order. additionally, two more issues deserve attention. first, the irrbb. the basel standards already include principles for measuring and managing it under pillar 2, but these may not be adequate under all circumstances. one solution might be to put the irrbb under pillar 1. in my view, however, given the flexibility needed to tackle interest rate risk under changing market and individual conditions, it would be better to strengthen the current pillar 2 approach, allowing for tailored requirements, but under a more robust and structured framework. the ssm already adopts such an approach. second, a reassessment of the rules for deposit insurance would be useful. the inherent trade - off is well - known : a share of uncovered depositors instils market discipline, but their volatile behaviour during crises creates systemic danger. a difficult 3 / 5 bis - central bankers'speeches balance must be struck. nowadays, as a depositor's flight is just one click of a mouse away, the terms of the trade - off may have changed compared with when the rules were first established. the debate is open. effective supervision whenever a bank crisis occurs, everybody is reminded that rules need to be supplemented by effective supervision. last year's episodes highlighted once again the need for supervisors to understand banks'business models thoroughly and to ensure effective
eligible collateral set much earlier during the turmoil. this however did not reflect a lack of pro - activeness of the eurosystem, but the fact that it had always accepted a broad range of collateral. the steps taken by other central banks during the first year of the financial crisis can therefore be considered as convergence of collateral sets in the direction of the eurosystem ’ s framework. 4. outright purchases of covered bonds. the covered bond market, which has historically been an important source of funding for banks in large parts of the euro area, had suffered from the financial crisis, both in terms of primary and secondary market activity. the total sum allocated to the purchase programme – €60 billion, representing about 5 % of the outstanding eligible covered bonds – is deemed sufficient to significantly support activity in this important market, ensuring that the ecb acts as a catalyst for re - activating this market rather than as a market maker of last resort. during the first four months, the eurosystem bought over €20 billion worth of covered bonds, with the total of up to €60 billion being targeted for june 2010. compared with measures taken by other central banks, the measures implemented by the eurosystem were specifically targeted at the banking sector. the reason for concentrating on the banking sector stems from structural features of the euro area ’ s economy, particularly the fact that its financial system is predominantly bank - based. indeed, bank loans account for a much larger share of financing to households and firms in the euro area than in the united kingdom or in the united states, where non - bank financial institutions and capital markets provide important alternative sources of funds. for instance in 2007, the ratio of bank lending to the private sector relative to gdp amounted in the euro area to about 1. 5, compared with a ratio of 2 / 3 in the united states. at the same time, the ratio of outstanding debt securities issued by the euro area private sector relative to gdp was just over 3 / 4 in the euro area, while it was above 1. 5 in the united states. accordingly, the set of measures implemented by the eurosystem – our enhanced credit support programme – were designed with the objective of providing support to the banking sector by : ( a ) helping the functioning of the money market, ( b ) easing funding conditions for banks, and ( c ) improving market liquidity in segments of the private debt securities market ( specifically, the market for covered bonds ) that represent an important source of funding for euro

and to be fully dedicated to our own responsibilities both in the private sector and the public sector. ”
should be involved in what activities, and who should supervise the resultant organization and its component parts are genuine and important policy issues that should be debated and decided by the congress. to simply dismiss them as turf issues misses the point, i think, and chokes off that debate. conclusion in conclusion, i hope that my remarks have helped you to better understand the forces affecting our banking and financial system. equally important, i hope that i have given you a good feel for the challenges these forces have created for bank supervision, how we are meeting these challenges today, and how we may deal with them in the future. even more importantly, i hope that i have convinced you to support enthusiastically h. r. 10! in all seriousness, it really is time that we modernized our financial system and got on with the business of serving consumers and maintaining a healthy, stable, and competitive banking system.

governors and regional reserve bank presidents in a mock meeting of the federal open market committee. participating reserve banks work in partnership with the board to bring the winning teams to washington, where the final rounds of competition will be held here in the board room. i have had the opportunity on several occasions to serve as a judge in the national finals of the fed challenge, and i can attest that the economic knowledge displayed by the students in that competition is remarkable indeed. the board also recently collaborated with many of the reserve banks on a redesigned federal reserve financial education web portal that brings many of the system ’ s resources for financial education together in one location. the site, federalreserveeducation. org, offers easy access to educational resources designed to benefit not only students, but also parents and teachers. we will continue to work to expand the resources and programs devoted to this important public purpose. i want to take this opportunity to thank the jump $ tart coalition and their partners for their continued support and commitment to furthering the financial education of our youth. now, it is with great pleasure that i introduce to you laura levine, executive director of the coalition, who will give a report on the status of financial education of youth in this country.
adriana d kugler : some reasons for optimism about inflation speech by ms adriana d kugler, member of the board of governors of the federal reserve system, at the peterson institute for international economics, washington dc, 18 june 2024. * * * thank you for your introduction, adam, and thank you for the invitation to speak here today. it is great to come to peterson to discuss the economic outlook and monetary policy, which is my topic this afternoon. 1 as i stand here today, inflation remains too high, but i am encouraged by the overall progress and trajectory. recent data on the economy and inflation also give me cautious optimism that we are on track and making continued headway toward the federal open market committee's ( fomc ) inflation goal of 2 percent. that progress may have paused in the first three months of the year, but information since then on economic activity, the labor market, and inflation points to renewed progress. over the last year through april, personal consumption expenditures ( pce ) inflation was 2. 7 percent, down from 7. 1 percent at its peak in 2022. core pce inflation - which excludes the volatile food and energy categories - was 2. 8 percent through april, down from its peak of 5. 6 percent. based on consumer and producer price inflation for may released last week, i estimate that 12 - month pce inflation in may was a bit lower than in april. i was encouraged by some of the details of the recent reports, particularly the continued improvement in market - based services inflation, which is based on observation of actual market prices rather than imputed values. that's important because market - based prices are likely to be a better indication of the overall trend for core services inflation than nonmarket prices. housing services inflation, meanwhile, continues to be persistent. market rents for new tenant leases have already cooled significantly, but further progress in overall housing services inflation will rely on the ongoing pass - through of the previous market rents deceleration to the rents of existing tenants with expiring leases. so inflation is still too high, and further progress is likely to be gradual. however, there are several reasons why i remain optimistic that improving supply and cooling demand will support continued disinflation. the first reason i am optimistic about further progress on inflation has to do with declining price increases and even declining prices as consumers become more price sensitive. i think of this from several, related angles - i will mention a few

rates, remain well above pre - pandemic levels, though there has been some gradual improvement since mid - 2022. 6 / 6 bis - central bankers'speeches
yi gang : keynote speech - 13th lujiazui forum keynote speech by mr yi gang, governor of the people's bank of china, at the 13th lujiazui forum, shanghei, 10 june 2021. * * * honorable secretary li qiang, mayor gong zheng, vice mayor wu qing, chairman guo shuqing, chairman yi huiman, administrator pan gongsheng, ladies and gentlemen, good morning! as the co - chair of the forum, i would like to extend warm welcome to all distinguished guests and friends attending the 13th lujiazui forum. lujiazui forum has been held 12 times. it has stood witness to the progress of china ’ s financial sector and the rapid development of shanghai as an international financial center. china ’ s financial sector has provided strong support to covid - 19 response since last year and served as a backstop to china ’ s fast economic recovery. the development of shanghai as an international financial center has also seen new progress. for instance, the first wholly foreignowned life insurance firm and public equity fund, as well as the first foreign - controlled wealth management firm have been established in shanghai ; the first domestic interest rate options and a number of new globally - traded futures products have been launched here ; shanghai is also one of the frontrunners in the pilot regulation on fintech innovation ; and over 900 overseas institutions have entered china ’ s interbank market, with total bond holdings hitting rmb3. 3 trillion. we are pleased to note that shanghai has ranked the third among all international financial centers in the world for two consecutive times. i would like to congratulate shanghai on this remarkable achievement on behalf of the pboc. this year, the forum focuses on major issues such as financial support for peaking carbon emissions and achieving carbon neutrality, scientific and technological innovation, the well - being of the people and the opening - up of the financial sector. they are all important issues for the financial system as we set out to implement the new concepts of innovative, coordinated, green, open and shared development. they will go a long way in building a new development paradigm and achieving high - quality economic development. today, i would like to take this opportunity to share with you my observations on the monetary policy, green finance and inclusive finance. as china enters a new era of development, its demographic, resource, industrial and regional structures are all undergoing profound adjustments, which in turn, will have an impact on potential economic growth and

be a catalyst for the going abroad endeavor. promoting the two - way interaction of foreign enterprises coming to china and chinese ones going abroad is conducive to the economic complementarity and helps promote common prosperity, global harmony and progress. on this front, the financial sector definitely will do a lot more to provide support. in conclusion, i wish the forum a complete success. thank you.
. similarly, there can be no dispute as to the importance of transparency and discipline in economic policy. it is noteworthy that lack of transparency in key areas contributed to the recent global financial crisis. thanks to discernible improvements in economic governance and policy making in some parts of the continent, some african economies were generally resilient during the economic recession. be that as it may, the pursuit of sound policies remains a challenge due, in part, to the difficult international environment and adverse weather conditions. as for my country botswana, you will know that its rapid economic transformation from a poor undeveloped country, dependent on cattle farming, subsistence agriculture and migrant workers ’ remittances, to a middle - income economy, is itself the result of a consistent commitment to transparency and discipline in economic policy. the discovery of diamond bis central bankers ’ speeches deposits, immediately following independence from great britain, clearly played a pivotal role in the transformation, but the role of minerals is only part of the story. as history has repeatedly shown, no matter how rich the endowment, natural resources cannot, on their own, develop a country in the absence of appropriate and effective institutions. nor should it be forgotten that botswana ’ s commitment to prudent macroeconomic policies covered not only the years of diamond - generated budgetary and balance of payments surpluses ; it was maintained during difficult times, which include the early years of independence and, more recently, the global financial crisis and economic recession. while the strength of botswana ’ s economic performance has been widely recognised, there can be no room for complacency if this success is to be sustained. after all, the global economic recovery is still weak, uncertainties abound, and botswana remains exposed to the vagaries of commodity markets. in such an environment, it is imperative not only to maintain macroeconomic stability, but also to take further steps to improve the business environment so that more non - mining businesses can be attracted and can ultimately flourish. up to this point, the country has emerged from the economic recession in not - so - bad a shape, and its sovereign credit ratings are so far largely unchanged. that said, there is nothing miraculous about botswana ’ s economic performance. in fact, other african countries have increasingly been able to adopt similar, if not better, macroeconomic policies, and the benefits are self - evident. as far as my employer, the bank of botswana, is concerned, it has continued to contribute to the country ’ s economic development since its

for euro area countries ”, in the february 2007 issue of the ecb ’ s monthly bulletin.
with the necessary incentives to maintain standards that meet supervisory expectations. these measures also include the adaptation of banks ’ internal systems for the correct identification of transactions affected by the measures put in place to adapt accounting to the covid - 19 crisis. the crisis generated by the pandemic has already had a significant impact on the income statements of non - financial corporations and on the incomes of households, and has reduced the solvency of both. however, the increase in the rate of default has, to date, been very limited. this is largely explained by the broad raft of measures adopted by the various authorities, which have not only prevented a sudden sharp increase in the rate of default in this period, but have also mitigated its future increase. in any event, the projections suggest that the rate of default will increase significantly in the coming quarters even in the most benign scenario. in this connection, it should be noted that a large part of the adjustment in banks ’ earnings in the first half of this year is due to the provisions made in advance for credit impairment that has still not materialised, but will do so in the coming quarters. specifically, spanish banks have set aside almost double the amount of provisions they recorded in the same period of last year. this has significantly reduced their profitability, but it has also raised their capacity to absorb credit impairment, something that is particularly highly valued by investors in these circumstances. the message i wish to convey is that banks should persist with this early recognition policy, as it will subsequently facilitate their ability to continue to perform their function of providing financing to the economy. in short, especially if the crisis proves to be prolonged, banks must ensure proper and timely recognition of effective impairment of the quality of their credit exposures through compliance with supervisory guidelines. global banking regulation fourth, i would like to reflect on global banking regulation. as i mentioned earlier, the basel reforms phased in over the last decade have attempted to incorporate into regulation the lessons learned during the global financial crisis. the first phase of the basel reforms began in 2010 and was completed through a second wave of changes published in 2017. the initial phase was aimed at raising the level and improving the quality of banks ’ microprudential regulatory capital. the idea was to reduce their risk - taking by increasing their “ skin in the game ” and providing them with greater loss - absorbing capacity. the releasable macroprudential buffers i referred to earlier were also introduced. the second stage of the basel reforms focused on

the macroeconomic policymakers, have an obligation to keep the solid fundaments of the macedonian economy in the next period. bis central bankers ’ speeches