samchain/econo-pairs-v2 huggingface dataset:
with effort, diligence and decent attitude, as all along, and continue to perform their duties in a professional and responsible manner, with a view to contributing to the sustainable development of macao ’ s financial industry. finally, i would like to wish you all good health and success in work. thank you! bis central bankers ’ speeches

##raisal of financial status of insurance companies were also strengthened. in addition, via the supervision of adequacy of technical reserves of insurance companies, the risk - resistance and indemnity payment capability of insurance companies was enhanced. in the year, supervision and onsite inspection of insurance companies, pension funds management companies and insurance intermediaries were strengthened with a view to appraising their compliance and implementation of provisions under compulsory insurance regulations, aml / cft guidelines and internal supervision applicable to various insurance institutions. with the benefit of the recovery of the overall economic vitality, coupled with appropriate and effective supervision, the insurance sector of macao operated in a stable manner last year, various premiums registered stable growth, profits were up to expectation. as per the end of 2010, total premiums for the insurance sector reached mop3. 78 billion, a year - on - year growth of 15. 7 %, of which life insurance premiums were mop2. 69 billion, a year - on - year growth of 15. 3 %, while non - life insurance premiums reached mop1. 09 billion, a year - on - year growth of 16. 7 %. on the other hand, pension funds management institutions also displayed their function in providing social protection and maintaining social stability. as per the end of 2010, total assets of funds under the management of such institutions exceeded mop6. 2 billion, which covered more than 80, 000 employees, the growth rates were 24 % and 6. 7 % respectively. the pace of economic recovery for advanced industrial nations remained slow. headed by the fed of the us, central banks of western nations took one step further in quantitative easing in formulating their monetary policy. as a result, interest income derived from major overseas financial markets stayed at a historically low level all year round. at the same time, in the face of sovereign debts of the eurozone and financial crisis arising therefrom, prices of financial products and currency exchange rates exhibited greater volatility. against such a backdrop, amcm adopted a more prudent investment strategy for the exchange reserves and the msar reserve fund. as per the end of 2010, our exchange reserves stood at mop190. 2 billion, a year - on - year growth of 29. 8 %, or mop43. 6 billion. the msar reserve fund also grew by mop300 million to mop13. 1 billion, or a growth of
demat costs, fees for ipa etc. associated with the launching of cp. the share of leasing and finance companies ( lfc ) has started showing markedly increasing trend from only 13 per cent in 2000 - 01 to as much as 38 percent during 2003 - 04. further, for the first time since the introduction of cp in 1990, in the current financial year up to december 2004, the share of lasing and finance companies at 54 per cent is more than the share of manufacturing companies at 34 per cent. the shares of fis have also increased dramatically from an average of only one percent during 2001 - 02 to 18 percent during 2003 - 04 before declining to 12 per cent during 2004 - 05 so far. regarding ratings, although issuers with credit rating of p2 of crisil or equivalent can raise resources through cp, in effect, the cp issuance is dominated by the prime - rated companies i. e., companies having credit rating of p1 + or its equivalent. even then, there has been some decline in the share of cps issued by prime - rated companies. during 2001 - 02, as much as about 93 per cent of cp amount issued were by prime - rated companies, which declined to 87 per cent during 2004 - 05 so far. correspondingly, the share of medium - rated companies increased from 7 per cent to 13 per cent over this period. this could be largely on account of search for higher return by investors in an environment of substantial improvement in liquidity in the economy. as you are aware, as a part of the eligibility criteria, the minimum tangible net worth of the corporate was reduced from the initial level of rs. 10 crore to rs. 4 crore in october 1993. however, corporates having tangible net worth of up to rs. 10 crore do not account for even 1 per cent of the total cp issuance. the market is, however, dominated by corporates having tangible net worth of rs. 50 crore and above, which accounted for more than 93 per cent of the total cp amount issued during 2002 - 03 and 2003 - 04. their share has, however, declined to 88 per cent during 2004 - 05 so far. in this backdrop, let me now turn to some of the recent steps taken by the reserve bank to strengthen the cp market. recent steps taken by rbi to further develop the market as you know, in order to further develop the cp market, we had placed a status paper on cp market in india on the rbi website

programme coordinator from the ecb, and to all participating experts from the ecb, the european system of central banks and the national bank of the republic of macedonia. thank you. bis central bankers ’ speeches
, l. sigalotti ( 2016 ), ‘ an indicator of inflation expectations anchoring ’, banca d ’ italia, mimeo neri s., a. notarpietro ( 2014 ), ‘ inflation, debt and the zero lower bound ’, banca d ’ italia questioni di economia e finanza ( occasional papers ), no. 242 rey h. ( 2013 ), ‘ dilemma not trilemma. the global financial cycle and monetary policy independence ’, federal reserve bank of kansas city economic policy symposium bis central bankers ’ speeches

the small average size of commercial firms, and the rigidity in the supply of innovative services. in many areas of the country this backwardness is aggravated by the size of the underground economy and in some cases by widespread illegality. modernizing italy ’ s payment system and integrating it in the wider european market will bring benefits far beyond those directly deriving from the introduction of new instruments and new technical standards. the changes now under way, boosted by sepa, will bring clarity and transparency to business relations throughout the 4 economy and not just in the payment sector. market players will be encouraged to revise their organization and code of conduct. the public sector will have the tools and procedures they need to improve payment transactions with firms and the public. in this way, the creation of a modern, competitive and reliable payment system in italy will help to build a more efficient and transparent productive system. in the 1990s, following the recommendations of the white paper on payment systems in italy, we successfully undertook a broad reform of interbank settlement procedures to bring the country into line with the most advanced european standards. today, we must take the opportunity offered by sepa to improve the supply of payment services in italy, with benefits for the public, firms and the public sector. this is the route we should follow. i hope that this conference will yield suggestions, observations and ideas for mapping the future development of italy ’ s payment system as part of the broader growth and modernization of italy in europe. thank you. payment services represent 15 per cent of banks ’ total operating costs. bis central bankers ’ speeches
##040218. pdf. is ultimately dependant on policy decisions influenced by market size, instruments availability and global integration capacity or willingness. liquidity is an elusive concept requiring the supervisor to adopt a dynamic approach. the endogeneity of liquidity calls for a case - bycase approach where the specificities of islamic finance can be taken into account. with respect to its specificities it is worth investigating how islamic finance products and institutions are affected by the financial crisis. islamic finance in the current turmoil - considerations concerning the impact of the current financial crisis on islamic finance products and institutions - highlights of the developments undertaken by islamic finance stakeholders towards financial stability considerations concerning the impact of the current financial crisis on islamic finance products and institutions analysts and commentators in the financial industry put the blame for the current crisis on the intensive use of structured financial products, on derivatives and other assets whose fundamentals are uncertain. conversely, islamic financial institutions and products are singled out for being less impacted directly by the turmoil due to their conformity with the shariah principles since these principles bring greater discipline to the markets 25 : - by eliminating a large number of derivatives transactions, - by putting a constraint on short sales, - by motivating the creditor in a good evaluation of the credit risk, thereby minimizing the moral hazard risk, - by preventing the amount of debt to be far above the size of the real economy. in effect, these principles are considered as inherent stabilizers. hence, some observers consider that islamic financial institutions might rebound faster from this crisis and be in better conditions than the “ conventional ” banks, thanks to restricted exposure to “ toxic ” assets. still, islamic finance products are not immune to adverse market conditions and could be impacted by the credit crunch or suffer from a property bubble deflation. islamic finance has overall greatly expanded, and not merely in countries of muslim obedience. according to different rating agencies, islamic finance accounts for $ 800 billions of assets 26. gross issuance of sukuk has quadrupled over the past few years, reaching about $ 30 billion by the end of 2007 27. chapra umer, the global financial crisis : can islamic finance help? institute of islamic banking and insurance 2009, published by newhorizon, global perspective on islamic banking and insurance ; http : / / www. newhorizonislamicbanking. com / index. cfm? section = academicarticles & action = view & id = 10733. hesse he

; it makes for an easier and more successful journey. i wish the deliberations all success. thank you. bis central bankers ’ speeches
amando m tetangco, jr : we are all wealth watchers speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the wealth watch book launch, manila, 3 july 2015. * * * this is the second time this week that we are launching a document related to financial empowerment. just two days ago, we launched the national strategy for financial inclusion, the document signed by 13 government agencies ( including the bsp ) which sets the strategic map for a unified national financial inclusion landscape. it is a living document that is meant to be populated by tactical plans of each of the agencies involved. and it is envisioned that following the launch, significant partnerships among government agencies as well as with the private sector would ensue. as you know, we had the queen of the netherlands, the un secretary general ’ s special advocate for financial inclusion for development, queen maxima, witness that occasion as our special guest. while we do not have a queen with us today, we are most privileged to have you our most significant partners in this journey of financial literacy and education and consumer protection to share this occasion with us. today, we launch a different document. a book. in fact, a “ wealth book ”. unlike the nsfi, this wealth watch book is not authored by 13 government agencies, but the book is authored by those “ closer to home ” – by our very own bspers from the financial consumer protection department ( fcpd ). the book is not for those who have no access to financial products and services but, it is for those who have a little bit more than others well, perhaps significantly more but who may need to be just as “ watchful ” in many respects, however, this book and the nsfi are about the same. because like the nsfi, our wealth watch book deals with information, and how you can make that information “ work ” for you. it is about stewardship of what you have. it is about preparing for unexpected events. it is about growth and growing what you have so you can have more. our launch today brings to mind the nba draft. at each draft, media would focus on how those towering “ boys ” who ’ ve been drafted would now move from “ living within tight college budgets ” to becoming and i quote from yahoo sports “ money making machines ”. sadly, however, we so often hear

generously shared your time in giving us accurate, comprehensive, and timely information with us, you have also served our country and our people. for this, we are grateful and we thank you. we do look forward to many more productive collaboration with all of you in the years to come. again, my warmest congratulations to all the awardees. mabuhay ang pilipinas! mabuhay po tayong lahat! magandang umaga at maraming salamat po sa inyong lahat!
to ensure that they address current challenges in the sector. however, the major challenge in this regard remains the extent and speed at which changes to these regulatory frameworks can be made in order to improve policy responsiveness. ladies and gentlemen, the bank of zambia has always strived to strike a balance between having a robust supervisory and regulatory framework and the need to promote investments in the sector. the entry of new players in the market is testimony of the confident that bank ’ s supervisory oversight of the sector has instilled in both the general and investing public. we remain committed to executing our mandate and in ensuring that the financial system is properly regulated in order for economic agents to undertake their activities in a safe and sound environment. distinguished guests, we note that financial intermediation is still very low in our economy and as such a lot of work still remains in this area. the bank of zambia encourages and supports market initiatives aimed at the financially excluded in order to achieve the objective on financial inclusion. it is therefore my view that promoting the initiative of reviving the operations of a co - operative bank is important. as you are all aware, in a co - operative bank, shareholders and customers are the same group of people whose dominant purpose is to provide customer value by offering tailored - made products and services cost - effectively and close to home. through their membership structures, co - operatives are known to have a firm foothold in local communities and a sound knowledge of people ’ s overall financial situation. this enables accurate decision making and risk control which in turn, fosters regional development and social cohesion. co - operative banks are also known for pioneering sustainable development and corporate social responsibility, through continuous engagement to fight unemployment and eradicate social exclusion. in fact, if properly managed, co - operative banks can make the financial system more competitive. this can be bis central bankers ’ speeches done through proper organization, meaningful investment in technology and proper pricing of products. lastly, let me remind all of us here that like any player seeking entry in the market, the cooperative bank which we wish to revive will be bound by the same legal, fiscal and prudential regulations as other players. it is therefore important for those who will be entrusted to manage the affairs of the institution to prudently provide leadership that seeks to promote the well being of all stakeholders. as such the aspect of good corporate governance practices in the banking and financial services sector cannot be over - emphasized. i thank you all for your attention! bis central

iii ) coordination of examinations ; and, most importantly, ( iv ) your unwavering moral support. to this end, we, at the bank do sincerely believe that although this mou will expire in september 2005, its legacy shall linger on and that the signing of this mou will further cement the cordial relations existing between the embassy of france and the bank. i thank you.
deal is ambitious and bold. and now we have to get to work to implement it and to fund it. and at the same time, to reach out beyond our borders. to work together with governments, regulators, private investors, financial sector, climate experts, and central banks from all countries. to overcome the policy challenges. and to make sure that we meet the paris agreement targets, and tackle climate change in time. 4 / 4 bis central bankers'speeches

klaas knot : on financing the energy transition speech ( virtually ) by mr klaas knot, president of the netherlands bank, at the forum analysis, milan, 8 july 2021. * * * it is a pleasure to be back in milan – even if it is only virtually. about 35 kilometres south of milan lies the city of pavia. twenty years ago, i studied there for a semester – so i have very fond memories of that city. one of the most famous people that ever lived in pavia is alessandro volta. in 1799, he invented the battery. this invention would soon lead to the development of the first electric motor – a machine that, in its current form, plays an important role in the transition to a net - zero society. this transition will be hard to achieve. but it is what we will need to do – because climate change is a major threat to societies and economies all over the world, and to the stability of the entire financial system. currently, however, we are still far from achieving the ambitions set out in the paris climate agreement. if we want to achieve these ambitions, we will need large - scale investments in sustainable energy services, in agriculture, in manufacturing, and so on. and these investments will need to be accompanied by increased efforts to reduce greenhouse gas emissions. the lion ’ s share of these investments will have to come from the private sector. but when we look at financing flows, whether in capital markets or bank finance, we see they are mostly directed towards large and often carbon - intensive companies – companies perceived as having low credit risk. the energy transition, however, hinges on successful technological innovations. according to a recent report by the international energy agency, and i quote : “ most of the global reductions in co2 emissions between now and 2030 in the net zero pathway come from technologies readily available today. but in 2050, almost half the reductions come from technologies that are currently only at the demonstration or prototype phase. ” early on, these innovative technologies are often less competitive than fossil alternatives. this makes banks more hesitant to finance these higher risk activities. and innovative start - ups are often too small to attract capital market financing. so currently, innovation investment is best aligned with the risk appetite of private equity firms. but they do not have a large presence around the world. so this is where governments come in. the bulk of the much needed investments will indeed have to come from the private sector – but there is a loud and clear
releasing rmb8. 1 trillion worth of liquidity accumulatively. in line with the features of pandemic containment as well as economic and social recovery and development at different stages, the monetary policy was rolled out in a step - by - step manner, with its own underlying logic. at the outset of the pandemic, the pbc launched rmb300 billion special central bank lending on january 31 to support banks in issuing loans at favorable rates to key enterprises providing medical supplies and daily necessities. with a 50 percent interest subsidy, the actual financing cost for enterprises was fairly low. under the list - based management, the rmb300 billion worth of special central bank lending has been basically used up so far, offering targeted support to more than 7, 600 key enterprises directly engaged in pandemic containment and strongly bolstering the task of securing the supply of medical supplies and daily necessities. as the pandemic was initially curbed and the orderly resumption of work and production started, the pbc increased the quotas of central bank lending and central bank discounts by rmb500 1 / 4 bis central bankers'speeches billion on february 26, requiring commercial banks to extend loans at rates not higher than the 1year loan prime rate ( lpr, which was then 4. 05 percent ) plus 50 basis points. the actual interest rate averaged around 4. 4 percent. by now, the rmb500 billion worth of central bank lending and central bank discounts have been basically used up, offering support to the resumption of work and production for nearly 600, 000 enterprises. as significant results were achieved in pandemic containment and life and work returned to normal at a faster pace, the pbc increased another rmb1 trillion of central bank lending and central bank discounts for inclusive finance on april 20, in a bid to support banks in ramping up credit supply to agro - related industries, micro and small businesses ( msbs ) and private enterprises. the average financing cost is required to be below 5. 5 percent and the quotas are expected to support over two million enterprises and other market entities. another prominent feature of the monetary policy implementation is its focus on strengthening direct and targeted support. as required by the report on the work of the government this year, the pbc introduced two monetary policy tools that could provide direct support for the real economy on june 1. by providing central bank funding support as appropriate, the

and finance experimental zone, and optimize the payment services environment of beijing winter olympics with all our strength. a moment ago, party secretary cai qi elaborated on arrangements for the financial work of beijing in his remarks. i fully agree with him and will pledge full support for the work. i wish this year ’ s annual conference of the financial street forum a complete success. thank you. 4 / 4 bis central bankers'speeches