samchain/econo-pairs-v2 huggingface dataset:
– during the pandemic - such commitments by regions increased by ninefold, and threefold by corporates. this is significant. a fast growing number of countries have also introduced climate change legislation and carbon management programs. global climate change laws are reported to have increased twenty - fold since 1997 across 164 countries, up from 99 countries just 6 years ago 3. climate - related laws and frameworks are also being strengthened in many countries, in ways that could significantly alter the course of economic development going forward. this includes the implementation of mandatory climate - related disclosures by various governments, regulators and independent bodies to hold companies accountable for their impact on the environment. the world is clearly moving more aggressively on building climate resilience in what is being described as the “ decisive decade for climate action ". individual countries and firms cannot stand still. not just because climate change has severe implications at a domestic level – more so for developing countries – but because global climate actions affect us directly through economic and financial linkages. how we respond is crucial. with the growing traction to sustainability, the 1 / 5 bis central bankers'speeches risk of stranded assets is real and significant. the risk of getting left behind and shut out of key markets will affect our economic competitiveness, lead to a drop in growth and worsen existing inequalities. ultimately, it is at the local level that the effects of climate - change will be mostly felt – through its transmission to food supply, energy and transport, disease and livelihoods. it is therefore in our collective interests and responsibility to act now, and to act together. as the lifeblood of the economy, the response of the financial sector is crucial on several levels – ( i ) to safeguard the resilience of the financial system through the identification and management of climate - related risks ; ( ii ) to direct financial flows to low - carbon activities ; and ( iii ) to support the transition by economic agents through appropriate financial and risk solutions. over the last two years, we have taken important steps forward within the financial sector in malaysia. the establishment of the jc3 in 2019 by bank negara and the securities commission in partnership with the industry, has served as a key focal point for collective climate actions in the financial sector and across multiple stakeholders. the jc3 continues to coordinate and lead efforts in five priority areas. first, we are introducing frameworks for the identification and classification of economic activities that meet climate objectives and are environmentally sustainable. a principles - based taxonomy has

org / news / industries / unep - fi - member - ant - financial - uses - app - to - reduce - carbon - footprint - of - 200 - million - chinese - consumers ( back ) 5 / 5 bis central bankers'speeches
job training commitments of employers. conclusion allow me to conclude. the rise of the new economy in canada represents the latest chapter in a long story — the ascent of the service sector. over time, this has been a good news story, with technological advances leading to rising incomes and higher standards of living. every generation of canadians has faced similar stresses — and similar opportunities. it is obviously the role of policy - makers like me to help people understand the economic forces they face and the importance of technology and international trade to their well - being. but no one understands the importance of these things to a typical canadian worker better than their employer. i cannot think of an audience that understands these issues better than those who are here tonight. i ask you to join with me in helping explain these forces to your employees and the public 5 / 6 bis central bankers'speeches at large. and i ask that you consider innovative ways of matching good people with good job opportunities. these are some of the ingredients of the confident future that canadians all deserve. 6 / 6 bis central bankers'speeches

decision has been taken on this by the executive board and the governing council, and we are sticking to that. 40 ) do you think you will at some point publish the minutes of the council meetings, maybe without the names of the governors? answer : it was our decision – and we are very proud of that – to introduce for the first time in the world the display of the “ introductory statement ”, which is an overall diagnosis of the situation as viewed by the governing council. it is presented immediately after the monetary policy decision. this was a first. no other central bank had done that before. we also have a press conference, which is proof of our full transparency, which remains exceptional among the major central banks of the world. we consider that what we are producing in the introductory statement and in the questions and answers in the press conference delivers immediate transparency. until now, the governing council has not wanted to publish the individual votes of its various members. we consider that we are responsible for the single currency in 12 – and in the immediate future 13 – sovereign states. that leads us to think that what we have to display is the unity of the college, the unity of the governing council, which is characterised by a very strong sense of team spirit. as you know, we all stick to the position which is taken by the governing council. we are very committed to the decision taken. i have explained that to the european parliament and, through you, to the people. i think this is becoming more and more understood. 41 ) would you consider in the future publishing the minutes even without the names? answer : the publication of the introductory statement immediately after the governing council gives the information that you are looking for. this is the reason why a priori we don ’ t envisage publishing the minutes.
the institute of international finance ( iif ) to hold this meeting in singapore, a gateway to access asia. i hope that the next few days will provide all of you with fresh insights into asia and singapore. thank you.

this calls for a more harmonised and integrated approach to supervision of the financial system. besides co - ordinating among the different regulatory bodies to address unsupervised risks, overlaps and gaps in their regulatory framework, there may be a need to re - look the way national regulatory and supervisory authorities are organised, to create greater synergies and enhance efficiency. at the international level, efforts are underway to strengthen the architecture of the international financial system. in particular, efforts have been taken to increase transparency, and develop and implement standards and codes to promote greater stability and enhance the robustness of financial systems to shocks. efforts undertaken by international financial institutions include the imf's reports the east asian 9 economies are indonesia, malaysia, thailand, the philippines, singapore, korea, chinese taipei, hong kong and china. on standards and codes ( roscs ), and the imf / world bank's financial sector assessment program ( fsap ). many developing countries, however, have expressed concerns over the tendency of these organisations to adopt a one - size - fits - all approach without taking into account the different circumstances and varying implementation capacity of the countries involved. in the banking industry, the basle capital accord of 1988 was a landmark agreement which helped to increase the capital held by internationally active banks, and to create a more level playing field for banks under different jurisdictions. however, the rapid changes in banking and finance have led regulators to propose a new basle capital accord which will establish a more risk sensitive and comprehensive capital framework, to benefit banks as well as improve safety and soundness of the financial system. the new accord, however, poses challenges to asian banks and regulators alike. the banks would have to develop more sophisticated risk management capability while the regulators would need to build up technical knowledge as well as supervisory resources to validate banks'risk management systems and determine if banks are sufficiently well capitalised on an on going basis. mas initiatives to face the challenges i am sure governors will discuss at length the various challenges that i have highlighted earlier. perhaps i could share with governors efforts taken by singapore to address some of these challenges. the monetary authority of singapore undertook a fundamental review of our supervisory and regulatory policies. in the area of banking, our reforms have focussed on liberalising the banking sector, strengthening corporate governance and raising disclosure standards of local banks, and shifting away from one - size - fits - all regulation to risk - based supervision. mas announced a five - year
the commercial banks and the bank of papua new guinea. thank you bis central bankers ’ speeches

christian noyer : france ’ s banking industry in 2006 – key trends speech by mr christian noyer, governor of the bank of france and chairman of the french banking commission, at the presentation of the 2006 annual report of the french banking commission, paris, 29 june 2007. * * * welcome to this press breakfast, organised for the release today of the 2006 annual report of the commission bancaire. i would like to discuss the key trends that characterised france's banking industry in 2006, not just in terms of structure and performance but also the regulatory environment in which it operates. it is clear that the framework for financial activity and banking risk management has changed in recent months, confirming the ever more urgent need for new methods of risk assessment and for appropriate supervision that can react swiftly to these changes. in my view, several factors are important in this respect. first, in a highly international context, banks'performances are increasingly being judged from the outside, especially by shareholders. those judgements are sometimes so harsh that they can have a direct structural impact. consequently, banks can no longer afford simply to post excellent results – as again was the case in 2006 for most major international banks, especially french banks. they must also make sure that the underlying quality of those results is sound. to do this, they must pay special attention to the way they manage risks internally and plan their strategic expansion, and to their capital adequacy policy. second, the economic and financial context in which french banks are operating is also a source of risks. indeed, lessons must be learned from the slowdown in the usa, amply illustrated by the housing downturn, which resulted in higher risk in the sub - prime segments of the retail banking market. it should also be acknowledged that financial markets could become more unsettled. if higher risk aversion were to encourage greater use of risk transfer products, this could drain liquidity from some markets and undermine the efficiency of banks'management. from a supervisory perspective, the problem is all the more acute since the growing reliance on credit risk transfer instruments tends to make it harder to assess the type and degree of risk that banks actually bear when, for example, they arrange complex transactions. third, the regulatory environment for french banks is changing radically as a result of the basel ii accords. banks that have adopted the advanced approaches to risk management must put models in place – usually as early as january 2008 – for the internal rating and assessment of credit risk, market risk
: democracy and the future of the world economy, ww norton. 5 letter from the ecb president to ms perevenche beres, mep, on the legal framework for central counterparties, 11 january 2017. 2 / 2 bis central bankers'speeches

trilemma framework is perhaps too stark, it is analytically helpful to recognise the genuine tensions across inter - linked policy dimensions. let me focus in on the monetary policy and financial trilemmas. in relation to monetary policy, brexit does not alter the status quo, which no commitment on either side to stabilise the value of sterling against the euro and the bank of england and the european central bank each pursuing an independent monetary policy. in relation to financial stability policies, much has already been written as to the prospects for post - brexit financial services trade between the uk and the eu. in relation to the clearing of euro - denominated trades in the uk, president draghi has recently pointed out that “ it will be important to find solutions that at least preserve, or ideally enhance, the current level of supervision and oversight. 5 ” this is important both in relation to the ecb ’ s role as a supervisor of clearing member banks and as the central bank of issue for the euro. 1 / 2 bis central bankers'speeches more broadly, the maintenance of financial stability necessarily requires considerable bilateral and multilateral collaboration across major central banks. during the global financial crisis, this included a network of currency swap lines to facilitate access to foreign - currency liquidity, while fora such as the bank for international settlements and the financial stability board enable the sharing of analysis and information across jurisdictions. similarly, there is a significant degree of coordination in banking regulation through the basel committee. still, there are inevitably differences of degree in terms of the scale of coordination within the eu relative to that achievable through global institutional frameworks. let us see if some intermediate - level arrangements between the uk and the eu will be delivered through the upcoming eu - uk negotiations. 1 this work now carries on under the umbrella of trinity research in social sciences ( triss ), which is the successor institution to the iiis. the work of the iiis is archived at www. tcd. ie / iiis. 2 maurice obstfeld, jay c. shambaugh and alan m. taylor ( 2005 ), “ the trilemma in history : tradeoffs among exchange rates, monetary policies and capital mobility, ” review of economics and statistics 87 ( 3 ), 423 – 438. 3 dirk schoenmaker ( 2011 ), “ the financial trilemma, ” economics letters 111, 57 – 59. 4 dani rodrik ( 2011 ), the globalization paradox
##tructural policy. crises are not necessarily just an evil. a crisis can lead to reforms and measures that foster progress, as it did in norway in the 1990s. the regulation of the banking sector in the wake of the global financial crisis is another example. experiences such as these may give us some comfort in the bleakest of times. the world will go on, even after a deep crisis. thank you for your attention. bis central bankers ’ speeches

. growth is low. in the past couple of years, growth has also slowed in latin america and asia. the number of unemployed in the eu has reached around 22 million. this is equivalent to the combined populations of norway, sweden and denmark. instead of being gainfully employed, workers are idle and their skills are eroding. unemployment is a waste of resources and a tragedy for the individual. a generation of young people are suffering the consequences, particularly in southern europe. government debt is still high in european countries, and in many of them debt burdens have risen further. government budgets are still showing sizeable deficits. several countries have also experienced economic decline and deflation. overcapacity is high in china, particularly in heavy industry. some manufacturing segments in other parts of the world are also facing excess production capacity, and profitability is low. overcapacity and lower prices for manufactured goods are adding to global deflationary pressures. around half of china ’ s steelworks are operating at a loss, and debt is rising. 3 china lacks efficient bankruptcy procedures, and as enterprises in heavy industry are mostly stateowned, the industry can be run at a loss. this makes it difficult to effect change. the us has imposed a penalty tariff on chinese steel imports, and steel works in europe are closing down. if he was to comment on china ’ s current situation, hayek would have stated the following : debt in the steel industry and other heavy industry must be restructured. industrial enterprises that are running at a loss should be closed down. chinese authorities now appear to be doing just that. in the 1930s, many countries resorted to devaluations, tariff barriers and regulation of crossborder capital movements to protect their own manufacturing industry. but this was the wrong medicine. world trade fell, and the international division of labour went into reverse. this led to lower income for everyone. in his letter to the times, hayek made the following comment : “.... the right way [... ] to proceed is [... ] to abolish those restrictions on trade and the free movement of capital which are at the present impeding even the beginning of recovery. ” today, the global system of trade and cross - border investment is again under pressure. in both europe and the us, influential groups have argued in favour of erecting new walls and barriers to the international exchange of goods. this is a recipe for yet another down
initiatives of mfis. may this year ’ s conference bring fresh insights and renewed zeal to help the poorest and most vulnerable through digital innovations. in closing, allow me to cite a passage from the book of philippians that, like hebrews 13, speaks of dedication and selflessness : “ do nothing out of selfish ambition or vain conceit. rather, in humility value others above yourselves, not looking to your own interests but each of you to the interests of the others. ” may we all continue to embrace our financial inclusion mission. for in doing so, we can bring a message of hope and help others live with dignity and purpose, especially in these trying times. thank you and stay safe. 3 / 3 bis central bankers'speeches

days into the war. in the first hours of the invasion, and further on, the nbu received overwhelming support from central banks and international organizations and institutions. the unprecedented support we have obtained from the international monetary fund, the world bank, the european union, and the united states has been truly invaluable, and has enabled ukraine not only to confront the consequences of the war, but also to look ahead and plan for long - term recovery. 3 / 4 bis - central bankers'speeches we took full advantage of this help, and now that we are on the path to recovery, we are actively exchanging our experience with our colleagues from other countries, via events such as this workshop. sharing knowledge is also a powerful resource, and, we are excited to share our expertise with you while continuing to refine our approaches. the challenges facing us may differ, but we all share a common goal – to create a sustainable economy capable of ensuring the stable development of countries. i believe that integrated approaches, the exchange of experience, and international cooperation are key elements for success in this endeavor. today we will review cutting - edge research into topics such as fx interventions, capital controls, international reserves, and the interaction between fiscal and monetary policies. we will be honored to hear a report from leading imf economists jesper linde and marcin kolasa on the integrated policy framework. i'm confident that their presentation will set the foundation for fruitful discussions on the practical aspects of an integrated approach. another highlight of today's workshop will be a presentation of the imf's extended quarterly projection model, or qpm. following the qpm presentation, we will hold a panel discussion with leading industry experts, chaired by natan epstein of the imf, about the specifics of implementing an integrated approach in our core macro models. this is of great practical importance to us, as we have been working closely with the imf team to improve our own modeling toolkit. i hope that today's event will be a source of new ideas and solutions for us all. thank you for your attention, and i wish you productive discussions!. 4 / 4 bis - central bankers'speeches
percent to the sdr and 45 percent to the south african rand. it is also know n that the exchange rate is continuously adjusted using an annual rate of craw l based on the difference in the projected inflation of the trading partner countries and botsw ana ’ s inflation objective ; this rate of craw l is public know ledge, typically announced at the beginning of the year. such transparency has removed uncertainty in the management of the exchange rate. thus, economic agents can use market information and forecasts w ith respect to the freely traded currencies ( that constitute the pula basket ) and inflation, to anticipate the pula exchange rate. in this regard, certainty about the policy path helps to anchor economic decisions in a manner desired by policy action, and that is supportive of industrialisation and economic grow th objectives. distinguished ladies and gentlemen, effective communication also entails common understanding and usage of language. in this regard, there is need, on the part of policy - setting institutions, for consistency in definitions, in the meanings of adjectives attributed to magnitudes of changes and movements in economic indicators, as w ell as the w ording / interpretation of policy action ( or non - action ). to the extent that such common language is accepted and used by the media, policy analysts and commentators, it becomes a tool in policy formulation that has an intended impact on economic decision making. how ever, on the other hand, misreporting, either deliberately or due to lack of understanding of some key concepts, could cause unnecessary confusion in the market and, therefore, be detrimental to the implementation of these macroeconomic policies. communication also entails proper identification of spokespersons for the policy setting institution and matters on w hich they are responsible. a proper arrangement in this regard, promotes credibility and effectiveness of policy communication. for example, the governor of the central bank is normally and appropriately the singular voice on monetary policy, w hile the minister responsible for finance or treasury, is the singular voice on fiscal policy. in concluding, i w ant to point out that, dissemination platforms are also an important component of policy effectiveness, and determine the reach and credibility of macroeconomic policy. for the bank, w e find high - level gatherings such as the launch of the monetary policy statement, economic briefings follow ing publication of the annual report, as w ell as media briefings follow ing monetary policy committee meetings, to be very important. these facilitate both information dissemination, exchange

to realize its benefits fully, however, many of us are being required to adapt in various ways. globalization has made my job more interesting but no easier. as i said at the outset, i feel i have barely scratched the surface of the interactions of globalization and monetary policy. it is still early in the school year. if any seniors out there are still looking for an is topic, see me after this talk. 7 / 7