samchain/econo-pairs-v2 huggingface dataset:
sector. our expectation is that this should extend to other economic sectors as well. lessons can thus be drawn from the work that the bank of zambia has done and can be applied to the other sectors. mr. chairman, the prevalence of fraud in institutions all over the world has culminated with regulatory authorities in several jurisdictions instituting jail terms and fines against the scourge. the famous sarbanes - oxley is one such response. our own corporate governance guidelines have a strong linkage to the banking and financial services act which when not adhered to may result, upon conviction, to a fine or to imprisonment for a term not exceeding two years or to both. mr. chairman, the international work that is being done in respect of money laundering and corruption payments or terrorist financing is such that trade and service companies, like banks, are now being held accountable for what they deal in and whom they trade with – as suppliers as well as buyers. the implications of anti - money laundering ( aml ) are such that they extend to all forms of finance, industry and business. it is thus critical that the principles of integrity and professionalisms are applied in all spheres of institutional activities. mr chairman ladies and gentlemen i thank you for your attention.

from the study. it is my hope and trust that you will take advantage of this forum to initiate dialogue between women entrepreneurs and women in general and the various other stakeholders to propose mechanisms to accelerate women ’ s access to finance. this is an opportunity also for women to discuss challenges faced in accessing various financial products and services. equally, it is an opportunity for other stakeholders, especially financial services providers to enlighten all of us on financial products and other services on offer to mitigate the challenges women face. may i take this opportunity to thank the partners who financed and supported the study and conference : financial sector deepening zambia germany cooperation / giz, new faces new voices, and making finance work for africa. the bank of zambia looks forward to continued cordial relations and partnership in fostering developments in the area of financial inclusion for women and other areas of cooperation. ladies and gentlemen, as i wish you all a successful conference, it is now my honour and privilege to declare the conference officially opened. i thank you. bis central bankers ’ speeches
by competitors as of the prime - rate strategic investors applying for a greenfield license. 2. competitiveness and profitability both the decline in inflation ( and the key policy rate that led to a fall in the weighted average interest rate from 18. 15 % to 12. 95 % in the past seven months ), and the rise in income from increased number of employees and new business units, will have a major influence on the commercial bank profit and loss account as early as in this year. taking into account interest of some banks to position themselves well in our market irrespective of current losses but with a view to the expected growth of serbian economy on the longer run, the real battle for clients is yet to begin. coupled with increasingly aggressive lending, relatively high fixed costs in the banking sector will be a great challenge for banks not only from the aspect of their profit and loss account, but also from the standpoint of their market positioning. profit margins earned in 2005 are ancient history now, and so will soon be those earned in 2006 – profits will be based primarily on the volume of operations, and not on the of margin levels. competition will slice profitability of some banks, and i sincerely hope that taboos such as costs of a ) running current accounts, b ) administrative injunction for payment, v ) money transfers, g ) loan processing, etc. will soon be on the table again! 3. transparency and education the best way to boost competition in the banking sector is by improving transparency and educating consumers of financial services. transparent market of services and educated consumers are essential for building an efficient banking and financial sector. in a maze of commissions, nominal and effective interest rates, one - off costs, etc. it is difficult for citizens, even those holding a degree, to decide on which service is best to choose. bearing in mind that many of them are turning to those services for the first time after more than a decade, and that some banking products such as mortgage loans are in most cases used once in a lifetime, the responsibility of banks and the national bank of serbia in respect of enhanced transparency and education becomes even greater. this means that banks should provide full and clear information on their services in a simple and understandable way to enable their clients to compare offer terms for different products as well as for the same product by different banks and be able to make informed decisions. at the same time, the customer is educated and his sense of responsibility for his own decision and the risk that it involves

, i wish you a successful and profitable business year – and as i can see, its onset is promising – and we, on our part, shall do everything in our power to uphold our legal obligation and sustain stability! thank you!
lars heikensten : monetary policy and wage formation speech by mr lars heikensten, governor of the sveriges riksbank, to the riksdag committee on finance, stockholm, 13 february 2003. * * * firstly, i would like to thank you for the invitation to come here to the riksdag and discuss wage formation together with anders lindstra ¶ m from the national mediation office and ingemar hansson from the national institute of economic research. i shall begin by describing how we take wage formation into account when making decisions on interest rate changes. then i shall comment on the assessment made in our most recent inflation report ( published in december ), which we did not find reason to alter significantly at our last monetary policy meeting on 6 february. i shall continue by discussing how wage formation may develop in future. in conclusion, i shall summarise and mention some of the challenges facing wage formation. just over a decade ago, there was a comprehensive realignment in economic policy. the budgetary process was tightened up. at around the same time, monetary policy changed direction, the exchange rate was allowed to float and the new target was to limit inflation to 2 per cent, with a tolerated deviation of plus / minus 1 percentage point. the economic policy realignment can only be described as a success. on average, the inflation rate amounted to just under 2 per cent a year during the period 1993 - 2002, and the budget balance was turned around from a deficit of 12 per cent of gdp in 1993 to a surplus of 4 per cent in 2001. real wages increased on average by 2 per cent a year, which can be compared with the stagnant or even declining real wages in the 1970s and 1980s. at the same time, unemployment was halved from 8 per cent in 1993 to the current figure of 4 per cent. thus, the swedish economy is currently in a much better condition than it was 10 years ago. however, there are many indications that it may become more difficult to combine a good growth rate with a low inflation rate in future. at present there is no unutilised capacity in the economy as there was directly following the crisis at the beginning of the 1990s. it also appears as though the labour supply will grow at a slow rate in the near future as a result both of demographic reasons and of a high rate of absence due to sickness. this impairs the opportunities for growth in the swedish economy. it could also

fsb ( 2020 ), ‘ fsb encourages broad and timely adherence to the isda ibor fallbacks protocol ’, press release, 9 october. 5 see kent ( 2019 ), ‘ bonds and benchmarks ’, speech at kanganews dcm summit, webcast, 19 march. 3 / 4 bis central bankers'speeches 6 see rba ( 2020 ), ‘ cash rate procedures manual ’, 17 june, rba. gov. au site. available at < www. rba. gov. au / mkt - operations / resources / cash - rate - methodology / cash - rate - procedures - manual. html >. 4 / 4 bis central bankers'speeches
to 2020, to 116, 401, signalling a change in consumers ’ habits and increased orientation towards using digital means of entering into financial service contracts. of this, 18, 300 contracts were concluded using video - identification of consumers. further, when we compare q4 2021 with q1 2020, we see that the number of performed mbanking transactions increased by close to 120 % for natural persons and as much as 170 % for legal persons and entrepreneurs. the use of e - banking, which performed well even before the pandemic, also went up, with the number of transactions higher by 17 % for natural persons and 36. 3 % for legal persons and entrepreneurs. in your report, you specified that many of the countries in which the ebrd is operating plan to introduce the regulatory sandbox, which we have had in serbia for a long time already. we are also exploring the possibility of applying different innovation technologies, such as blockchain technologies and artificial intelligence, to respond to the needs of our business processes. to the extent possible, we have also regulated virtual currencies as a type of digital assets. in addition to all that, we need to cooperate and keep an open mind. as augustin carstens, general manager of the bank for international settlements, recently said : “ the soul of money belongs neither to a big tech nor to an anonymous ledger. the soul of money is trust. ” i have the habit of saying that people, knowledge and trust are the key foundations on which rest governments and all institutions, banking in particular. this does not change an iota in the digital era. it is the task of central banks to build trust, and i can promise that we will strive to deserve this trust in the years ahead, just as we have deserved it in the past ten years. i thank you for your attention, but also for your trust. ladies and gentlemen, esteemed colleagues, it is my message that we should not shy away from new technologies, but that we need to be prudent and cautious and take measures to manage cyber and other risks, to which we pay particular attention in the national bank of serbia. it is our task to create conditions worthy of the 21st century man, because you cannot start anything without people or complete it without institutions. i wish you a successful presentation and good health! 2 / 2 bis central bankers'speeches

, better their lives and hence, contribute to the progress of society at large. for the purpose of encouraging development of small and medium - sized enterprises, the government has so far provided private entrepreneurs with access under favourable terms to two apex global loans of the european investment bank in the amount of eur 65 million, two credit lines worth eur 63. 25 million from the government of the republic of italy, and the ear revolving credit fund in the amount eur 15 million. everything else, from coming up with a good idea, developing a good project to successful business realization, the entrepreneurs have had to do by themselves. it is encouraging that an increasing number of people is willing to take the leap into the waters of big small business and that the media is willing to provide coverage.
have more actuarial support, and in the case of banking supervision, we are making use of retired professionals who bring an expertise that could only be gleaned from years of experience in the field. my parting words are that regulation is a multi - dimensional challenge. it requires all stakeholders ( boards, management, auditors and actuaries ) to work both independently and collaboratively to be effective. we are gaining ground, but we still have much to do. bis central bankers ’ speeches

our efforts to foster contacts with both other central banks as well as, in particular, national authorities and financial institutions in the major euro area countries. the representatives that we send to the german embassies in paris, madrid and now also rome, are there to expand our networks in those countries and build upon our existing relationships. their objective is to increase mutual trust and understanding. for the bundesbank, this is a way of helping to promote collective solutions and reinforcing cooperation within the euro area. digital media may have helped us all to stay in touch during the coronavirus pandemic – in fact, it worked much better than we ’ d initially anticipated. but one thing was clear in spite of all the digital tools at our disposal : meeting in person is a crucial factor in any trusting working relationship. no amount of communication via email, telephone or video conferencing can permanently replace face - to - face conversation. for this very reason, we now have a highly competent contact “ on the ground ” in the form of bundesbank representative elisabetta fiorentino. ms fiorentino ’ s professional career is a unique reflection of the close relationship shared by germany and italy. having completed a joint degree programme in german and italian, she had early experience of working in close cooperation with staff of the banca d ’ italia during her doctoral studies. her time at the bundesbank began in the research centre. in 2009, she transitioned to the private sector, working at a large italian bank in milan before returning to the bundesbank in 2013. there, her responsibilities have most recently lain in the area of financial stability. extended secondments to the banque de france and the banca d ’ italia here in rome equipped her with additional international experience. she is thus ideally primed for her new role – and as a native italian, she should be on familiar ground. 3 conclusion ladies and gentlemen, once johann wolfgang von goethe reached rome in 1796, he remained in the city for over three months. he then travelled on towards sicily before returning to rome and spending a few more months there. unfortunately, i do not have the luxury of such an extended stay in this exquisite 2 / 3 bis central bankers'speeches city. indeed, my current “ italian journey ” will come to an end in a matter of hours. ms fiorentino, you will be staying in rome for some time, making contacts, establishing relationships and fostering german - italian cooperation. i
economic history shows that inflation and inflation expectations can become unhinged. there are many self - regulating mechanisms in the economy, but inflation does not regulate itself. the inflation target of 2. 5 per cent also provides a framework for the social partners. over time, nominal wage growth above 2. 5 per cent will entail higher real wages and higher purchasing power. real wage growth that exceeds productivity growth may lead to higher inflation and higher interest rates. in government - financed enterprises, which are often labour - intensive, budgets are adapted to expected wage growth. this is usually in line with assumptions about cost inflation in the economy as a whole and with the inflation target. if wages rise more than this, efficiency must be increased in order to minimise the adverse impact on service production and customers. calmfors and driffill ( 1988 ) : “ bargaining structure, corporatism and macroeconomic performance ”, in economic policy, april, 14 - 61 and driffill ( 2006 ) : “ the centralization of wage bargaining revisited. what have we learned? ” in journal of common market studies, vol. 44, no. 4, november, 731 - 756. all economic agents can plan ahead on the assumption that inflation will be about 2. 5 per cent over time. this is the most valuable contribution norges bank can provide the social partners and other economic agents. thank you for your attention.

jointly grow the industry. by applying the same regulatory framework to both conventional and islamic financial institutions, singapore aims to encourage financial institutions here to grow their suite of products and services for the islamic finance industry. conclusion let me conclude. islamic finance has come a long way. as it embarks on its next phase of growth, the industry must overcome the challenges posed by slower growth and global deleveraging, and build scale and reach critical mass. this requires financial institutions, regulators, and international standard setting agencies to work closely together. forums like these are ideal platforms. i wish you fruitful discussions. thank you. bis central bankers ’ speeches
this note, i would like to thank you for your attention and active participation over the last few days and look forward to working with all of you on building a fintech platform for seychelles. thank you. 1 / 2 bis central bankers'speeches 2 / 2 bis central bankers'speeches

solutions. similarly, our current financial landscape is also having to change to accommodate the opportunities brought about by the advances in technology and rise of the digital era. the use of 1 / 3 bis central bankers'speeches innovative technology in the design and delivery of financial services and products is transforming the way we transact and most importantly, the way money is presented. in seychelles however, there is still some level of reticence among much of our population to move towards newer technologies. a tour of town at 7. 30 in the morning on any given day will show long queues outside the banks, of clients waiting for bank opening hours to either withdraw or deposit cash, although there are atm facilities and an increasing number of merchants avail their customers the use of pos machines for instant payment. although the level of fintech in seychelles still has some way to go to get to the highest possible level, there is no mistaking the growing interest in harnessing the possibilities. in 2014, the central bank of seychelles issued a telecom provider, airtel seychelles, with a license to offer mobile money transfers – the first license issued by the institution to a payment service provider offering a service based on a fintech solution. since then, the central bank has initiated a number of projects as part of efforts to encourage innovation in the payments sphere. these would include : the drafting of the e - money regulations which will set the licensing framework to introduce emoney issuers. an amendment to the foreign exchange act which will enable entities licensed under the national payment systems act and the e - money regulations ( once in effect ), to conduct cross border transactions and engage in the selling and buying of foreign exchange. the reformation of the national payments council so as to act as a conduit to promote innovation in the payments sphere. as the sole institution with the mandate of ensuring financial stability, the central bank of seychelles has, for some time, realised that it needs to further understand the dynamics of the phenomenon, which has given rise to technological innovation such as biometric authentication, mobile money and wallets, cloud computing, cross border remittances, blockchain technology, big data, to name but a few. most importantly, it is imperative that the bank understands the impacts that fintech has on the financial institutions falling under its regulatory purview and subsequently, on the stability of the financial system. fintech is challenging what had become a slow paced and conventional industry, transforming it into a dynamic and vibrant ecosystem.
the downside, u. s. household demand could slow more rapidly than expected, thus reducing demand for canadian exports. while both these risks appear to be a little greater than they were in july, we continue to judge that, overall, risks are roughly balanced. we will provide a full analysis of economic developments, trends, and risks in our next monetary policy report, which will be published on 19 october 2006. concluding thoughts let me now conclude. as a nation, we are clearly learning from experience and adapting to change. over the past decade, we have done much to implement sound macroeconomic policies and structural reforms that have helped our economy become more flexible and thus more adaptable to change. canada's strong economic performance in the face of major disturbances over this period attests to the importance of flexibility. however, our success to date does not mean that we can rest on our oars. uncertainty, risks, and shocks will be as much a part of tomorrow's economic picture as they have been of yesterday's and today's. we all have a role to play in moving the canadian economy to the forefront, in terms of flexibility and adaptability. the bank of canada is committed to doing its part.

the dollar. the amount outstanding of funds in the call money market has remained generally stable since the middle of june. to date, this has not led to any difficulty in funds settlement, but close attention should be paid to future market developments. with regard to corporate finance, private banks have basically retained their cautious lending attitude. however, constraint that had been caused by severe fund - raising conditions and insufficient capital base has eased considerably. under these circumstances, major banks have gradually become more active than before in extending loans, while carefully evaluating the credit risks involved. however, credit demand for economic activities such as business fixed investment remains weak. in addition, some firms have been trying to reduce debts using their on hand liquidity. as a result, credit demand in the private sector has continued to be weak, and thus private banks ’ lending has remained sluggish. meanwhile, issuance of corporate bonds and cp has recently been steady. the year - to - year growth rate of money stock ( m2 + cds ) has declined to around 3. 5 percent mainly due to the weakness in credit demand in the private sector. in this financial environment, credit conditions have eased somewhat. the following continue to warrant careful monitoring : how actively investors will take risks ; how far private banks will ease their lending stance ; and how these changes will affect economic activities.