samchain/econo-pairs-v2 huggingface dataset:
according to the information currently available, there is no reason to fear that the transition from 1999 to 2000 will cause any major disruptions in institutions ’ operations. the bundesbank sees this press conference as an appropriate opportunity to present the relevant information on its own year 2000 preparations and the status of work in “ finanzplatz germany ”. furthermore, the bundesbank uses its regularly updated website ( http : / / www. bundesbank. de ; “ year 2000 ” button ) to report on the progress of the work being undertaken.

sabine lautenschlager : the leverage ratio – a simple and comparable measure? speech by ms sabine lautenschlager deputy president of the deutsche bundesbank, at the evening reception of the deutsche bundesbank / safe conference “ supervising banks in complex financial systems ”, frankfurt am main, 21 october 2013. * 1. * * introduction ladies and gentlemen, i am very happy to welcome you to the guest house at the deutsche bundesbank ’ s central office. it ’ s a pleasure to have you here. although you will have noticed that our premises are located somewhat outside of the city centre, it ’ s only a ten - minute walk to the goethe university ’ s campus from here. this isn ’ t just convenient for those of you who decided to walk from the university to the headquarters of the deutsche bundesbank. having a walking distance between the bundesbank and the goethe university also facilitates exchange and cooperation between the two institutions, which both have a strong stake in financial market and regulation research. i value this exchange very highly and i am convinced that cooperation in this field is indeed a very good idea. i therefore also would like to thank the safe center at the goethe university, who has organised this conference together with the deutsche bundesbank. i would also like to extend a particularly warm welcome to all of the contributors to today ’ s conference sessions. the conference asks a very fundamental question : how can we, how should we supervise banks given that the financial system is inherently complex? many books were and still will be written to examine this question comprehensively, and they will offer different and sometimes contradictory answers ; at least, that is my prediction. i nevertheless want to share my fundamental view of this topic with you. so, how can or should supervisors deal with complexity? i am convinced that in a complex world – first – supervisors need a toolbox with different instruments to cope with this complexity, and – second – those tools will not generally be that simple. as i ’ m sure you are aware, i am not an academic but a practitioner. and as a practitioner i ’ ll give you a practical example to make my point. i ’ d like to talk about a measure you all know very well : the leverage ratio. it ’ s not really a new concept, but it ’ s certainly a fashionable one. it has been claimed to be a simple fallback measure for dealing with an increasingly complex banking system, a kind of panacea for complexity
also reflected in the eurosystem staff projections. euro area real gdp growth is projected to be between 1. 6 % and 2. 0 % on average in 2004, between 1. 4 % and 2. 4 % in 2005 and between 1. 7 % and 2. 7 % in 2006. available forecasts from international and private sector organisations convey a broadly similar picture. downside risks to these projections stem in particular from potentially unfavourable developments in the oil market. in order to limit such risks, second - round effects in wage and price - setting must be avoided and fiscal authorities should refrain from taking measures which would prolong or distort the necessary adjustment process. moreover, the degree of competition in the euro area energy sector is an important factor in allowing higher oil prices to be absorbed without significant distortions. further progress in increasing competition in this sector would be highly beneficial. turning to consumer prices, annual hicp inflation was 2. 2 % in november, according to eurostat ’ s flash estimate, down from 2. 4 % in october. over the coming months, inflation rates of above 2 % are likely to persist, and some temporary further increase from current levels cannot be excluded. looking further ahead, however, the information available so far indicates that hicp inflation would fall below 2 % in the course of 2005 if no further adverse shocks occurred and it does not suggest that stronger underlying inflationary pressures are building up in the euro area. wage increases have remained contained over recent quarters and, in the context of ongoing moderate growth and weak labour markets, this trend should continue in the future. producer prices are rising, but this remains concentrated on energy and intermediate goods, which should limit the pass - through. these views are also embodied in the eurosystem staff projections. average annual hicp inflation is projected to lie between 2. 1 % and 2. 3 % in 2004. as the impact of recent oil price increases and the effects of previous indirect tax and administered price rises gradually dissipate, annual hicp inflation is projected to be between 1. 5 % and 2. 5 % in 2005 and 1. 0 % and 2. 2 % in 2006. these projections are broadly consistent with forecasts recently released by international and private sector organisations. several upside risks need to be taken into account. concerns relate in particular to future oil price developments and, more generally, to the potential risk of second - round effects in wage and pricesetting throughout the economy. further developments

the new series to start their journey and circulate in the albanian economy. in the hope that the new banknotes will be welcomed by the public, let me now present to you their design. i would also like to call on the public to handle banknotes with due care, in order to preserve their durability, quality and integrity. from 30 september 2019, the banknotes of the new series 200 lek and 5000 lek will be legal tender in the republic of albania and will be used as means of payment, alongside the existing banknotes. 2 / 2 bis central bankers'speeches
##th birthday is actually today. he used to say “ ready money is aladdin's lamp ”. nowadays, we are not relying on aladdin ’ s lamp, but on efficient payment systems to receive our money efficiently and safely. i am grateful for your work in ensuring that this is the case. thank you for your attention.

encouraging to see that the european payments council is looking for viable models for mobile payment solutions and is exploring the possibilities of cooperation with the gsm association. we will follow with great interest potential developments for a common framework for mobile payments. the industry should also look beyond its own borders. for example, i understand that nacha has also started a project on mobile payments. 12 • e - invoicing : an expert group has been set up by the european commission to analyse the introduction of electronic invoices. concrete examples can be found particularly in the nordic countries especially. conclusion let me now conclude with the following three points. first, sepa is necessary and inevitable. sepa will start on 28 january 2008 with sepa credit transfer, and other instruments will follow. in retrospect, we will all find it normal that national legacy instruments have disappeared and to have a harmonised set of payment instruments across europe, based on international standards. however, it requires end - user stakeholder involvement to be strengthened and formalised even further. second, sepa is a global relevance. it introduces, in a large, mature market, a single set of business rules and the latest international standards. i expect that other markets will follow in the same direction. sepa also ensures that participants in this market have equal access to the sepa payment schemes. furthermore, it ensures that market participants are treated equally when they operate under the sepa rules, which facilitates the entry of new market players and will increase the competitiveness of service providers. third, sepa is innovative. we are already benefiting from innovative projects, such as epayments and m - payments. a global exchange of views – for example on mobile solutions – could be useful. i expect that markets will develop towards an increase in the range of products, based on fewer and similar platforms ( achs ). so, sepa is bringing about major changes in the payments sector, both in europe and globally. in the coming years we will see a further broadening and deepening of sepa. i on december 13 2007, nacha announced today that it has formed a mobile banking work group under the leadership of its internet council to develop an ach payment platform strategy for mobile banking. expect to see a transformation from a banking industry with a single focus on interbank transactions only, towards an industry that strives towards a holistic service approach. to close my speech, let me quote the english poet lord byron, whose 220
central bankers'speeches and finally, i'd like to congratulate the department of finance on its own centenary this year. 3 / 3 bis - central bankers'speeches

speeches the central bank's predecessor, the currency commission, issued the first irish proof set in 1928 and we have issued commemorative coins over the decades to mark both key moments in our history as well as the individuals who helped shape it. in april 1966, we issued a commemorative silver ten - shilling coin to mark the 50th anniversary of the 1916 easter rising. we take great pride in the issuing of such commemorative coins. it is an important element of our public service role and is a unique way to pay tribute to individuals and events of national importance. earlier this year, we commemorated dr kathleen lynn, in recognition of her outstanding medical career, her forward - thinking approach to the rights of women and of the poor, her involvement in the 1916 rising and her humanitarian work particularly with the young and poor of dublin city. and most recently we issued the final coin in our modern musicians series which contained coins for irish musical legends luke kelly, phil lynott and rory gallagher. the coin we're launching today was designed by by the very talented artist mary gregoriy, following a design competition. according to mary, the'100'refers to both the euro denomination as well as the 100 years since the establishment of the state, and she has written the words " saoirse in eireann 1922 - 2022 " on the straight side of the harp. her design uses the symbol of the harp, one of the most recognisable symbols of ireland. it is very stylised and simplified because the coin is no bigger than your thumbnail and she wanted to keep it simple. the use of the harp, as our national symbol, reflects the importance of music and culture to the people of ireland and allows the coins to be immediately identifiable as irish. one simple spiral adorns the curved side of the harp and the straight side has text as its pattern. production of this coin is limited to 750 pieces. we have also produced an annual mint set for 2022, which commemorates the foundation of the irish state. before i finish, i want to thank some of the people who've helped to organise this morning's event. i want to thank the national library for hosting us this morning. i want to pay tribute to the central bank's currency centre team for the immense work they do each year on the collector coin series. i'd like to acknowledge the ongoing work of the numismatic advisory panel who support the bank's collector coin programme. 2 / 3 bis -
no outstanding libor - based derivatives in our investment portfolio by the end of 2021. moreover, from end - 2021, we will exclude all libor - based floating - rate notes from the list of collateral eligible for snb repos when implementing monetary policy. these steps will cut any remaining ties between the snb ’ s monetary and investment policy and libor. page 3 / 5 zurich, 17 december 2020 andrea m. maechler news conference charts page 4 / 5 zurich, 17 december 2020 andrea m. maechler news conference page 5 / 5

news conference zurich, 17 december 2020 andrea m. maechler introductory remarks by andrea m. maechler i will touch on two areas in my remarks today : first, i will review developments on the financial markets over the last half - year ; here i will comment briefly on our foreign exchange market interventions in 2020. then i will speak about the imminent changeover from swiss franc libor to saron. situation on the financial markets investor risk sentiment has been extremely volatile since our last news conference in june, mainly due to developments surrounding the coronavirus pandemic. over the summer months, economic activity and investor sentiment recovered following the relaxation of the containment measures introduced during the first wave of infections. in the autumn, the second wave of infections dampened investor confidence again, especially in europe. then, in november, news that coronavirus vaccines might soon become available caused market sentiment to return to a positive footing. in addition, various political risks, such as the brexit negotiations and the us presidential elections, influenced risk sentiment. monetary and fiscal policy on both sides of the atlantic also played an important role in market developments. having taken extensive measures to stabilise the markets in the wake of the turbulence in march, the us federal reserve ( fed ) and the european central bank ( ecb ) have since confirmed the expansionary stance of their respective monetary policies. the ecb recently eased its monetary policy further by, among other things, increasing the size of its bond - buying programme. moreover, market participants interpreted the fed ’ s revision of its monetary policy strategy as an indication that the fed will continue pursuing an expansionary monetary policy for an extended period. this, along with expectations of a major fiscal stimulus package, supported investor risk sentiment and caused inflation expectations in the us to rise. what is more, in europe, the agreement reached in july on the creation of an eu recovery fund led to a further decline in risk premia on sovereign bonds. page 1 / 5 zurich, 17 december 2020 andrea m. maechler news conference overall, risk markets were able to benefit for considerable periods of time, despite the volatile market environment. there was some divergence between the us and europe, however : while the leading us equity index, the s & p500, hit a new record high as early as the beginning of september driven by technology stocks, price developments on the major european stock markets were more moderate. thanks to the rally in november, all major indices are up on mid -
are acceptable. to sum up, open finance frameworks offer tangible opportunities for people who have difficulty in accessing financial services, but we need to calibrate them carefully to make sure that open finance will be a force for good. thank you. 2 / 2 bis - central bankers'speeches

jorgovanka tabakovic : digitalisation, system upgrade - delivering the digital dividend opening speech by dr jorgovanka tabakovic, governor of the national bank of serbia, at the presentation of the european bank for reconstruction and development ’ s ( ebrd ) transition report 2021 – 2022, belgrade, 11 march 2022. * * * ladies and gentlemen, esteemed colleagues, welcome to the national bank of serbia! we are the hosts today, but this event is organised by our partners from the european bank for reconstruction and development ( ebrd ). therefore, i ’ d like to welcome mr colangeli, whom i have met at the kopaonik business forum, as well as mr sanfey and mr plekhanov, who are the face of the ebrd before us today. the fact that the ebrd has compiled and published its transition report for 28 years tells us that this report has passed the test of time and has the seal of approval of its audience. each year, the focus of the report is on an area that contributes to faster and sustainable economic transition. in the latest report, this area is digitalisation. i will focus on the fourth chapter of the report – fintech and banks in transition, which pertains to the digitalisation of financial systems and the effects which the implementation of new technologies has on the financial system as we know it. it is old news that over the past several years there have been substantial global changes in the financial services sector. banks, which are traditional participants in this market, are increasingly joined by new institutions from the technological sector, offering innovative products. we are talking about fintech, as well as international tech giants, notably in the social media sphere – the so - called big tech. how do banks react to their emergence? they have a choice to either treat the new market participants as competition, or at least as an incentive that would encourage them to speed up their own work on innovations and development of advanced services. the second choice is to welcome these companies as partners, and to make full use of the effects of such synergy on the development of society. in the modern age, which requires fast adjustment to client needs, everyone is creating niche markets where they can have a competitive edge. and as long as society as a whole is benefiting from changes that do not threaten stability, and yet save time and money, they will be one of the factors of development
decisions. thank you

glenford ysaguirre : from the global financial crisis to more robust regulatory frameworks and resilient financial systems feature address by mr glenford ysaguirre, governor of the central bank of belize, at the caribbean group of banking supervisors xxix annual conference, san pedro town, 16 june 2011. * * * a pleasant good morning to mr. cleviston haynes – cgbs chair ; representatives from the association of supervisors of banks of the americas ( asba ), the office of the supervisor of the currency ( occ ), the us department of the treasury, the federal deposit insurance corporation ( fdic ) ; members of cgbs ; participants of this, the twenty - ninth annual cgbs conference. ladies and gentlemen, let me join my staff in welcoming you to belize and to the, warm, friendly and scenic location of san pedro, ambergris caye. it is indeed my pleasure to have this opportunity to address this gathering today. i understand that you have a very heavy agenda so my intent is to be very brief and not to stray from the script as is often my wont. as leading entities charged with the supervision of the financial sector, we all carry an enormous responsibility and one that ought not to be taken lightly. today, i see the work of the cgbs as one of the few shining examples of a regional institution that does not seem to be afflicted with that, oh so common and familiar malady i call the caricom malaise. this is that common condition where we meet a lot, talk a lot, agree on a lot, debate a lot, and then we resolve not to do a damn lot. let me give you an example : take our attempt to get members to adopt a single draft model banking act across the region. while unanimously agreed to almost six years ago, it languishes in suspension as formal acceptance by a few jurisdictions is as yet forthcoming with no explanations for the protraction. but, my purpose here today is not to dwell on the negative, but rather to plant an idea whose time i think has come. i hope it will pique your interest sufficiently for you to forgive my departure from the normal feature address format. the theme for today ’ s conference is very fitting and timely : “ from the global financial crisis to more robust regulatory frameworks and resilient financial systems ” i like this theme because it is forward looking and is in perfect consonance
, the risk of an event pushing greece ( and / or others? ) into unexpected default is shooting up. that would surely be the most costly outcome, at least in the short term. we need to avoid a repeat of the 1997 russian default, where russia received a programme of aid, everyone expected it to work, but the needs turned out to be much bigger two months later. there is also a very rapidly increasing risk of citizens running on greek banks as well as a rocketing risk of some other eu / eurozone country ’ s voters producing an outcome that will, in addition to other more likely and more profound consequences, further complicate finding a solution to the technical issues, i. e. how to structure the debt restructuring. to conclude, this is a crisis whose causes lie in eurozone institutions, which we were assured were created – together with the eurozone itself – to prevent crises. without further close involvement of eurozone institutions, including the ecb and eurozone member states, it will most probably result in a disorderly meltdown of at least some european economies. on many levels, including the level of european institutions, the crisis was caused by incoherent and / or insincere communication, which increased the uncertainty of market participants in the broad sense. our country ’ s history tells us that a generally predicted loss of a currency fix has much lower costs ( including political ones ) than an unexpected one. if eurozone countries and eu institutions opt for “ safe ” greek membership in the eurozone, they must present a solution that is broad, generous and general enough to convince the markets of its credibility. this solution had better come fast, though, as muddling through has significant economic costs and increases the risks dramatically. in the meantime, the authorities should at least avoid communication that increases the risk of a run on banks and of angering the voters of fiscally sounder eurozone states. last but not the least, a plan b would be highly desirable. let me end by stressing that any disorderly outcome clearly goes against all the interests of the czech republic and its economy. there is now no possibility of a happy ( i. e. relatively costless ) end. but we should end the uncertainty. after all, muddling through the current crisis is clearly occupying european decision - makers to an extent that is preventing them from solving the issues important for the core and crucial parts of the eurozone and eu – for example, how to change

long - term economic growth, as i have argued. what a shame for the eu and for us. thank you for your attention.