samchain/econo-pairs-v2 huggingface dataset:
take this opportunity to greet all of you a successful, happy, and prosperous 2010! mabuhay ang bangko sentral ng pilipinas! mabuhay ang ating bansang pilipinas! maraming salamat sa inyong lahat!

benjamin e diokno : launch of the national strategy for financial inclusion 2022 - 2028 message from mr benjamin e diokno, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the launch of the national strategy for financial inclusion 2022 - 2028 and financial inclusion logo, manila, 27 january 2022. * * * to the members of the financial inclusion steering committee or fisc ; key stakeholders and partners ; financial inclusion advocates and champions ; members of the monetary board ; esteemed colleagues and guests ; ladies and gentlemen : good afternoon. it is my privilege to welcome you all to the launch of the national strategy financial inclusion 2022 – 2028. when we launched the original national strategy for financial inclusion or nsfi on july 1, 2015, we set out to define what financial inclusion meant in the philippine setting. we laid out the fundamental principles that would guide our vision and action in bringing more filipinos into the formal financial system. we take pride in knowing that through the guidance of the fisc and the contributions of our stakeholders, much has been accomplished in nearly seven years of nsfi implementation. together, we have enhanced the breadth and depth of our outreach to the unbanked and underserved through several initiatives. these initiatives have been instrumental in broadening access to essential financial products and services and, in turn, have uplifted lives by giving the poor the means to protect and grow their livelihoods, improve their well - being, and ultimately, take greater control of their future. through our efforts, having a transaction account, obtaining a loan, investing, and purchasing insurance, are now more accessible to the man on the street, market vendor, tricycle driver, farmer, fisherman, and sari - sari store owner. we have also set the pace for innovation and other critical undertakings, including the implementation of the national id system or philsys, as well as the digitalization of social protection benefits and financial services to the public. however, there is more work to be done. the paramount vision of financial inclusion, after all, is to foster sustainable, broad - based growth that promotes shared prosperity and opportunities. access to financial products and services must not only be broad, but also meaningful in a sense that it opens up opportunities for the man on the street to move up in life. while account ownership grew over the last 4 years from the launch of the nsfi in 2015,
quarter and unemployment down to its lowest level since 1992. in the year to 1982q1, gdp in the united kingdom grew by 2 % and in the year to 1993q2, it grew by 2. 1 %. in this and subsequent reference to the latest gdp growth data, the figures quoted in the text do not take account of any revisions published in the second gdp release on wednesday 24th november. this strong performance in overseas markets, coupled with a competitive exchange rate, has lifted the volumes of uk non - oil goods exports by close to 15 % over the past year and is supporting the rebound we are seeing in the manufacturing industry. chart 1 shows that overseas markets account for nearly a quarter of the demand for the output of uk businesses, with domestic demand from the private sector – consumer spending and investment – accounting for a further two - thirds. exports and domestic private sector spending therefore make up over 90 % of the demand for the output of the business sector in the uk with public sector procurement and capital spending accounting for less than 10 % of the total. so while the global economy continues to perform strongly and as long as private sector demand is still growing at a reasonable rate, uk plc should be well - placed to cope with the squeeze on public spending flowing from the october spending review ( osr ). alongside the recovery in overseas markets, domestic demand in the uk economy has also bounced back following the sharp declines seen in late 2008 and early 2009. in cash terms, domestic spending in the uk economy by consumers, government and business grew by 6. 8 % in the year to the second quarter of 2010. as i pointed out in a speech last month, this is relatively strong demand growth by comparison with the decade prior to the financial crisis, when the growth of domestic demand in money terms averaged 5. 8 %. 3 these data do not suggest that lack of demand is the main problem currently facing the private sector in the uk. we may see some slowdown in demand early next year as the fiscal measures announced in the budget and the spending review take effect and consumers adjust to a higher rate of vat. but this variability in the growth rate should not be confused with a genuine double dip which is still a remote possibility in my view. that would only be a problem if the world recovery faltered seriously. while asia and emerging markets continue to power ahead, and the us and the european union are also recovering steadily, we should not expect to see a significant interruption to growth across the world economy

meet at quarterly intervals to consider the implementation of the mou and matters arising therefrom. i am sure that both the bank and the mra will be able to perform their responsibilities with better information than they would be able to without the mou. we on our part will spare no efforts to reap the benefits of this arrangement for the overall good of the state in general and the economy in particular. thank you for your attention.
adelaide bank, the new entity has assets of around $ 50 billion, and is australia ’ s 11th largest bank. 1 though small in market share, its branch presence is considerably larger. if we were to compile a list of financial institutions of the second half of the 19th century, we would find that few of the names would be familiar ones. not many entities of that time are still in existence today. our major banks, of course, have a long history, in some cases dating back to the early convict era. but a great many financial institutions of the 19th century, particularly victorian building societies, succumbed to one or other of the busts that occurred in the 1890s, the 1930s and the 1990s. the 1890s episode was a particularly severe depression in victoria, with a collapse in land values and widespread closures of financial institutions. nearly half the building societies ranking based on banks ’ resident assets in australia. closed. this, as always, followed a period of extreme euphoria. consider the way the historian michael cannon describes the general scene in melbourne in the 1880s : the land mania of the 1880s took two main forms. the first was based on a plethora of building societies, whose optimistic officials believed that every family in the colony could simultaneously build their own house, keep up the payments through good times and bad, and support an army of investors who were being paid high rates of interest for the use of their money. the second form of mania was the deeply - held belief that it was impossible to lose money by “ investing ” in land – a belief which persists to the present day. 2 those words, penned in 1966 about an event a century ago, carry a more than faint echo of more recent times in other parts of the world. if we may paraphrase cannon, too many of the world ’ s major financial intermediaries thought that loans of dubious quality, originated by salespeople they knew little about, to borrowers whose credit standing, to the extent it was known, was very poor, could be sold in ever increasing quantities to investors looking for aaa security. one day the music stopped, as it always does, and they were left standing. the 1890s were tough for the city of bendigo, as for most of victoria. a number of banks in the city closed their doors. but its main building society remained sound. “ the bendigo ” had not ventured as far into melbourne real estate as others, nor was it as highly leveraged.

0. 0 - 0. 5 % strictly capping 10 - year jgb yields nimbly conducting by fixed - rate purchase operations market operations ↓ nimbly conducting market operations 1. 0 range of 10 - year jgb yields fluctuations as a reference upper bound for 10 - year jgb yields as a reference 0. 0 < outlook for prices > y / y % chg. fiscal 2023 forecasts made in july cpi ( all items less fresh food ) ( reference ) cpi ( all items less fresh food and energy ) fiscal 2024 forecasts made in july fiscal 2025 forecasts made in july + 2. 8 + 2. 5 + 2. 8 + 1. 9 + 1. 7 + 1. 6 + 3. 8 + 3. 2 + 1. 9 + 1. 7 + 1. 9 + 1. 8 note : figures indicate the medians of the policy board members'forecasts ( point estimates ).
, to thank you for being here tonight, for the cooperation we had, for each word of kindness that we exchanged and for everything that could join us in the future. i also wish you professional satisfaction and personal happiness. thank you. bis central bankers ’ speeches

be further developed and adopted more broadly across a wider range of important global financial market infrastructures. how we proceed from here will be critical to our success in building a global financial system that is both stable and efficient. by facilitating the greatest netting down of risk, global ccps through which all standardized otc derivatives trades would be cleared, hold out the potential for the greatest amount of risk reduction and, thus, improvement in financial stability. but, for that outcome to occur, there needs to be a global oversight framework that ensures that the ccps are held to global standards – not just in theory, but also in practice. there are other areas where we face significant challenges in effective global information exchange and regulatory cooperation. we have much more to do to develop resolution regimes for globally systemic financial institutions, including establishing the rules of the game for the exchange of supervisory data for such firms, in clearly identifying ex ante the responsibilities of home and host countries in terms of potential liquidity support, and in overseeing the orderly wind - downs of such firms when they encounter difficulties. the exchange of supervisory information is important both for understanding the consolidated condition of a bank that operates in a host country, and for gaining insights into broader financial stability issues. for example, giving supervisors in host countries improved access to consolidated balance sheet information for foreign firms operating in their jurisdiction would allow for a more accurate assessment of a firm ’ s liquidity position and funding plans. bis central bankers ’ speeches another area where there needs to be greater international cooperation is in defining the roles of home and host countries especially during times of stress. what is the responsibility, for example, of the host country to provide lender - of – last - resort liquidity to foreign firms operating in their jurisdiction? at what stage, if any, does that responsibility shift to home country? should these responsibilities change depending on the degree of information exchange or the degree or duration of stress? on the resolution front, we know that the benefits of a harmonized global regime would be substantial. by providing greater transparency to investors and depositors about the rules of the game in the event of distress, such a regime would likely reduce the likelihood of runs and financial panics while also allowing financial intermediation to occur on a global basis. however, it is proving challenging for some jurisdictions to provide clarity around how an orderly resolution would be implemented in practice. at the same time, this lack of clarity within jurisdictions is contributing to and exacerbated by the lack of a
the various countries is based on the ecb ’ s capital allocation principle. 1 / 1 bis central bankers'speeches

francois villeroy de galhau : ensuring confidence in the currency introduction by mr francois villeroy de galhau, governor of the bank of france, at the conference on " recent monetary policy developments ", paris, 4 may 2017. * * * our currency, the euro, is at the centre of debates that are particularly important to french citizens. the banque de france is independent from politics, but in keeping with our mandate within the french republic to ensure confidence in the currency, it is my role to provide certain clarifications. i hear proposals for a dual currency with the return of a national currency in parallel to a european currency. i must say that such suggestions would put confidence in the currency in danger. no advanced economy has this type of parallel circulation. where two currencies exist ( or have existed ) and can be used to make payments, one always inspires less confidence than the other. generally, it is the “ national ” currency that suffers – the only one accessible to households, particularly poorer households, and to smes. the currency therefore quickly loses its value, leading to excessive price increases and a negative impact on purchasing power. if we were to consider returning to the ecu, it is important to remember that it has not existed for 18 years and was not a real currency : the ecu was a unit of account that could not be used by either individuals or companies to make payments. even if it were possible, going back to the ecu would present major disadvantages compared to today ’ s euro : until the euro was introduced, france did not actually participate in decisions on interest rate levels and had to follow german monetary policy ; the franc was at the mercy of speculative attacks from the financial markets that drained our currency reserves as we saw in the 1992 - 1993 period. the euro was introduced to solve these problems. today, the euro is alive and well. it is the currency of 340 million europeans, is recognised worldwide and is trusted by the people of france. almost 70 % of french citizens are in favour of the euro because it protects their purchasing power, with prices that increase three times less rapidly than previously ; because it makes borrowing easier, with interest rates that are 1. 5 % to 3 % lower ; and because it safeguards the value of their savings. finally, i would like to add that the eurosystem has not modified its sovereign debt purchase programme in relation to france ’ s presidential elections. the distribution of monthly purchases between
basle ii and we hope to catch up with those already on basle iii. ladies and gentlemen, i have looked at the programme planned for these five days and i note that it covers intricate and crucial issues in the art of bank supervision. i also note that you will also have an opportunity to hear a banker ’ s perspective of corporate governance and risk management among others. clearly, the topic selection and coverage should keep all participants excited not just to learn from the resource persons but also to share experiences across the region. i am convinced, therefore, that you do not need any urging from me to remain focused. bis central bankers ’ speeches ladies and gentlemen, one of our mandates as central banks is to ensure soundness and smooth functioning of financial institutions. we do this by contributing to the development of a system that effectively intermediates funds between savers and investors, and thereby supporting investment, trade, employment and economic development. we also have a responsibility to create effective supervisory frameworks and regulations with clear mandates, operational independence, defined accountabilities, appropriate tools and adequate resources. to ably do so, calls for insight into the operational environment, regional and international trends, as well as technical capacity which is central to this intermediate banking supervision workshop. the task ahead of you, therefore, is to learn and absorb as much as possible. thereafter, use the knowledge and make a difference. i am confident that you will leave this forum with a new mind set, that is, a pragmatic paradigm shift to put into practice what you will have learnt and, a renewed commitment to improve supervisory frameworks in your respective countries. once again, may i take this opportunity to weicome you all to this workshop and in particular to malawi. i also wish to welcome and thank our distinguished resource persons, for accepting invitations to come for this workshop. finally, ladies and gentlemen allow me to take this opportunity to express my gratitude to the reserve bank of zimbabwe, bank of tanzania, and standard bank malawi limited for releasing officials from their institutions to facilitate in this workshop. i wish you all the best during the workshop and your stay in blantyre. with these remarks, i declare this workshop officially opened. thank you. bis central bankers ’ speeches

, by enhancing the growth potential of our economy, and by further integrating and deepening europe ’ s financial markets. thank you very much for your attention.
s time to bow out gracefully. of course, as with any departure, there ’ s lots to do to ensure a smooth transition – and i want to highlight three key actions for market participants in the months ahead. https : / / www. bankofengland. co. uk / speech / 2019 / andrew - hauser - speech - at - risk - live - 2019 - london https : / / www. bankofengland. co. uk / bank - overground / 2020 / why - do - firms - need - to - accelerate - the - transition - from - libor - benchmarks see ‘ the future of libor ’ section at https : / / www. theice. com / iba / libor and https : / / www. fca. org. uk / news / statements / fca - consults - onnew - benchmark - powers https : / / www. theice. com / publicdocs / ice _ libor _ consultation _ on _ potential _ cessation. pdf https : / / www. federalreserve. gov / newsevents / pressreleases / files / bcreg20201130a1. pdf and https : / / www. fca. org. uk / news / statements / fca - response - iba - proposed - consultation - intention - cease - us - dollar - libor all speeches are available online at www. bankofengland. co. uk / news / speeches and @ boe _ pressoffice 1. moving all new business off libor the first priority is to break the remaining grip of libor on new lending and other business as soon as possible before the end of 2021. sterling markets, where my main responsibilities lie, start in a reasonable place : - many sterling swaps – the primary hedging instrument – have referenced sonia rather than libor for some time. that transition was given a further kick by the adoption of a ‘ sonia first ’ trading convention in interdealer markets in october. 6 - in sterling loan markets, all customers discussing new or refinanced lending with their banks should have been offered a non - libor alternative since the end of september. and new loans for anyone still unable to avoid using libor in the near - term should include a clear mechanism to ensure those loans are converted to an alternative ahead of end - 2021. but there ’ s further to go. in sterling

bank of england 3 the prc and fpc have announced that they will conduct a review of the uk leverage ratio framework in light of revised international standards once there is further clarity on the new legal framework following the uk ’ s withdrawal from the eu. 4 the bank of england ’ s review of its approach to setting a minimum requirement for own funds and eligible liabilities ( mrel ) – discussion paper | bank of england 5 internal ratings based uk mortgage risk weights : managing deficiencies in model risk capture | bank of england 6 sections 3b ( 1 ) ( f ) and 138k of the of the financial services and markets act ( 2000 ). 5 / 5 bis central bankers'speeches
an econometric method known as the “ hedonic regression method. ”

has so far been operating as anticipated. 10 - year government bond yields have been in the range of 0. 5 – 0. 6 percent in recent months. an average commercial bank lending rate on new loans has declined to a historic low level of around 0. 8 percent. at the same time, medium - to long - term inflation expectations gauged from the consensus forecasts have climbed to 1. 6 percent. thus real interest rates have clearly been negative up to long - term ones. in a nutshell, with qqe producing its intended effects, a virtuous cycle from income to spending has been operating steadily as a high level of confidence is maintained in both the household and corporate sectors. bis central bankers ’ speeches effects of the consumption tax hike in contrast to the view that i just mentioned, there has recently been concern that japan ’ s economic recovery might have been losing momentum, reflecting the recent weak economic indicators due partly to the effects of the consumption tax hike. in particular, the gdp statistics released last month showed that real gdp in the april - june quarter fell substantially at a rate of 7. 1 percent on an annualized quarter - on - quarter basis, garnering people ’ s attention. the substantial decline in the april - june quarter followed the front - loaded demand in the january - march quarter, in which real gdp had grown significantly at a rate of 6. 0 percent, and thus was expected in advance. excluding such fluctuation of the front - loaded increase and the subsequent decline in demand prior to and after the consumption tax hike, the annualized growth rate of real gdp in the january - june period this year over the julydecember period last year is 1. 0 percent. it is not necessarily a high growth rate, but exceeds japan ’ s potential growth rate, which is estimated to be around 0. 5 percent. as i will discuss in the following, since the virtuous cycle of economic recovery has been operating steadily, the growth rate of real gdp in the july - september quarter is expected to return to the clearly positive one. the virtuous cycle in both the household and corporate sectors next, let me explain the mechanism of economic recovery in both the household and corporate sectors. in the household sector, with qqe producing its intended effects, the output gap has improved substantially, and the economic slack has almost been absorbed. the labor market has been tight, and the unemployment rate was 3. 5 percent, declining to roughly the same