samchain/econo-pairs-v2 huggingface dataset:
application to virtual currencies / crypto - assets and promote a more consistent regulatory approach, taking into account the results of fatf ’ s stocktake exercise of the different national regulatory approaches. we must therefore follow progress made on this matter and adapt our legislation accordingly. conclusion fintech is definitely here to stay. regulators must therefore brace themselves to accept new technologies as forming an integral part of the financial landscape. in the process, the bank of mauritius is ensuring that it has specialized and trained resources to assist it in fulfilling its mandate and better understand innovative and disruptive technologies. i must nonetheless emphasise that fintech must be encouraged specially where, rather than disrupting the whole system, it adds value and facilitates certain processes or activities such as transaction monitoring, client on - boarding process, regulatory reporting. it can also enhance supervisory capabilities. the use of innovative technology in financial supervision can indeed assist in this endeavour. supervisory technology ( suptech ) can help to digitise reporting and regulatory processes, resulting in more efficient and proactive monitoring of risk and compliance at financial institutions. the bank of mauritius and the financial services commission are collaborating in ascertaining that any potential regulatory gaps are addressed and regulatory arbitrage eliminated. i am confident that the financial services sector has a bright future ahead and together with fintech firms, regulators, services providers and customers can embark on this transformational journey and design a new regulatory landscape and financial ecosystem for mauritius. thank you for your kind attention. 4 / 4 bis central bankers'speeches

to its fullest potential in a fast growing emerging economy like ours. i am confident it will lead to greater awareness of the leasing business among all stakeholders in mauritius and eventually pave the way for the sector emerging as a significant contributor to our growth in general and the sme segment in particular. thank you for your attention.
a focus on the removal of rigidities and the implementation of measures which enhance wage flexibility. in particular, we should see the elimination of automatic wage indexation clauses and a strengthening of firm - level agreements so that wages and working conditions can be tailored to firms ’ specific needs. these measures should be accompanied by structural reforms that increase competition in product markets, particularly in services – including the liberalisation of closed professions – and, where appropriate, the privatisation of services currently provided by the public sector, thereby facilitating productivity growth and supporting competitiveness. we are now at your disposal for questions. bis central bankers ’ speeches

. the european economy will grow, we are projecting inflation to continue to increase, the labour market is very strong, wages are growing at quite a clip now. so it ’ s a case where we just need to reinforce that by this extra policy move rather than some diagnosis or some major serious movement towards overall recession. individual countries may tip for a while, but not the overall euro area, we don ’ t see it. so i believe the staff forecasts for the near term have the aggregate growth rate balancing around 1 %, a little bit above, for the near term. is that too optimistic? so as a central forecast, i think the staff work hard to make sure that they strike a balance between optimism and pessimism. i think it ’ s a reasonable central scenario. but a lot of risk in the world is a little bit bimodal. one of the issues we look at, of course, is trade policy. so the question is will these global trade disputes … are they going to stagnate? are they going to escalate and widen to a bigger trade war issue? or will there be deals? if there are deals, that ’ s upside risk. if it ’ s basically stagnating, stalemating, that ’ s kind of behind the central forecast. if it accelerates, then that ’ s a downside risk. a local issue in europe, of course, is brexit, where there remains a lot of uncertainty and, clearly, if there ’ s a no - deal brexit that ’ s going to be a downside risk. so there are obvious clear events, but these events will be realised one way or the other. so when you have political economy uncertainty either, well, i mean there are always three outcomes. either the uncertainty persists, and that ’ s essentially part of 2019. remember, the original brexit date was march, end of march. and it ’ s good news that there wasn ’ t a hard brexit in march 2019. but, of course, in the absence of knowing the final outcome that is a source of uncertainty. the trade disputes and so on have been ongoing, the time by which these will be resolved remains unclear. i remember, this time last year when the deal between the united states, mexico and canada was emerging : that was an upside risk. i mean that could have gone differently. so let ’ s see what happens. i ’ m
financial stress. from a more general perspective, a satisfactory cls due diligence process along with a broad international participation trading in the clp, will be a strong signal of the development and competitiveness of the chilean financial markets. the process for the chilean peso to become the first south american currency on cls has started. last july, we received the visit of cls executives who had conversations with market participants and fruitful discussions at the cbc. after that visit, cls and the cbc started the due diligence process. during this phase, the actions from the public and private sectors are essential. nevertheless, a successful process should not be over before the end of 2021. the cbc is willing to take all the necessary measures to include the clp into cls, such as extending the opening hours of its rtgs system. page 17 of 20 central bank of chile september 2019 related to financial markets infrastructures, i would like to mention that last june the cbc issued a new regulation framework which will implement the first trade repository ( tr ) of the country. this tr, called integrated system of derivatives information ( siid, in spanish ), will be owned and operated by the central and, after a transition process, will be in full operation by 2021. the siid will collect, store and disseminate information of otc derivatives trades, following the principles for financial market infrastructures ( pfmis ) and international standards for reporting. this infrastructure should promote transparency and market conduct, improve decision - making of market participants, and contribute to the supervision processes of the financial market commission. it is important to note that the minister of finance has just announced that a bill to regulate trade repositories will be sent to congress. the siid is perfectly compatible with the existence of private - owned trade repositories. page 18 of 20 central bank of chile september 2019 according to the latest bis triennial review of foreign exchange and otc derivatives, the chilean peso represents 0. 2 % of the global fx turnover. we strongly believe that this share should increase in the future. the different developments that are underway should contribute to financial stability and increase the crossborder use of the clp, as well as the participation of non - residents in the domestic market. therefore, authorities and market participants should be prepared to be part of a bigger and more internationally integrated fx market. let me conclude by remarking that this journey for the chilean financial system, through a deep

help the economy to avoid the worst and prepare the country for a stronger recovery. * * * page 3 of 3
correspondences with the bsp on matters related to report submissions. it offers a more secure encrypted process of submission through a web facility where supervised entities can upload their reports instead of sending them via regular email. we are also undertaking major organizational reforms and initiatives for a more proactive supervisory stance. we have also recently set up a bigger, better and more agile financial technology subsector to 4 / 5 bis central bankers'speeches ensure the operational as well as cyber - resilience of the financial system. the new subsector in - charge of fostering responsible innovation in the financial services and payments industry is composed of two mission critical departments. one is the technology risk and innovation supervision department, which is primarily responsible for conducting onsite and offsite it supervision of regulated entities. it is also in charge of cybersecurity surveillance and promoting digital or fintech innovation through the bsp ’ s regulatory sandbox. the other department is the payment systems oversight department, which is mainly responsible for the payments oversight, licensing and policy development for a safe, efficient and reliable national payment system. psod is our lead in enforcing a holistic payment oversight framework, including the national retail payment system or the nrps. in conclusion, the bsp adopts an open and flexible approach to financial innovation, given its crucial role in expanding our financial inclusion agenda. we are closely engaging with fintech stakeholders to gain a better understanding of their business models, processes and systems. our main challenge is to strike a balance between promoting and enabling a policy and regulatory environment for emerging financial innovations and ensuring consumer protection, security, and financial stability. we aim to establish a forward - looking approach to ensure that regulatory and supervisory frameworks are in tune with emerging trends and developments. ladies and gentlemen, we are in an era where the biggest challenge is to keep up with the rapid pace of technological changes. to stay relevant is to remain proactive and vigilant in monitoring the advancements in technology and develop corresponding innovative solutions that intersects with traditional banking and other financial services and be agile. we need to take full advantage of and effectively harness fintech innovations that can be to used to unlock financial inclusion barriers and facilitate digital financial transactions in ways never imagined before. finally, the bsp, as your partner in promoting financial innovation and inclusion, will remain committed in supporting beneficial fintech innovations through an enabling policy and regulatory environment. i hope that as we all do our part in this, we keep the

convenience, safety, and well - being of the filipino people in mind. thank you and i wish everyone a fruitful conference. 5 / 5 bis central bankers'speeches
services include trade, transport, accommodation and food services as well as arts, entertainment, recreation and other services. latest observations : 2022 q4. while price and wage - setting will contain a backward - looking element, especially after a supply - driven surge in inflation, it is important that the forward - looking component remains close to our inflation target in order to avoid an entrenchment of higher inflation in expectations amongst the public. so far, there has been no indication that expectations have become de - anchored from our inflation target. this is true for both survey and market - based measures of longer - term inflation expectations. with regards to the transmission of monetary policy, the pass - through into financial conditions is well underway. interest rates on loans to firms and households increased sharply since the beginning of 2022 ( chart 4 ). the composite cost for borrowing for households was 3. 1 per cent in january, up from 1. 3 per cent at the same time last year. for firms, the composite cost of borrowing rose from 1. 4 per cent to 3. 6 per cent over the same period. lending rates have also declined, with the growth in loans to households falling from 4. 5 per cent ( year - on - year ) in july to 3. 2 per cent in february. for firms over the same period, the decline in growth rates was from 7. 6 per cent to 5. 7 per cent. meanwhile, we must remain alert to the longer lags in the transmission of monetary policy to growth and inflation. it will be important to assess how monetary policy decisions to date are working through the economy when calibrating further decisions. chart 4 : ecb policy rates are being passed through into lending rates source : eurostat. lending rates are the composite rate, incorporating all loan types and lengths, for both households and corporates. conclusion the governing council has increased interest rates in order to counter the increase in inflation brought about by successive and over - lapping supply shocks. looking ahead, the ecb staff ’ s latest ( march ) macroeconomic projections see headline inflation at 2. 1 per cent and core inflation at 2. 2 per cent in 2025. this shows that our monetary policy tightening is taking effect, but we must remain steadfast, and ready to act as required, to ensure we reach our target over the medium - term. policy rates will need to be kept at a restrictive level to dampen demand. this will help to re - set the

5 / 5 bis central bankers'speeches
the country. some of the bcs in the past have abused the trust placed in them by the banking system and defrauded their customers. as bcs generally serve a less ‘ financially literate ’ population, it is important that their activities are brought under closer scrutiny by the banks. the banks have to take ownership of bcs that they employ and also put in place appropriate grievance redressal mechanism for cases involving them. ( ii ) msmes : rbi has recently set out guidelines on ‘ framework for revival and rehabilitation of micro, small and medium enterprises ’ for early resolution of stress in the accounts of msmes, following an ordinance by government of india. under this framework, the revival and rehabilitation of msme units having loan limits up to rs. 25 crore is envisaged. further, with a view to provide timely financial support to msmes facing financial difficulties during their life cycle, rbi had advised the banks to review their existing lending policies and incorporating therein, among others, provisions for sanctioning of standby credit facility in case of term loans, additional working capital limits, mid term review of regular working capital limits, and timelines for credit decisions. b. synergizing the roles of pccos and internal banking ombudsmen ( ibos ) in the banks : as i understand the customer grievance redressal architecture in the banking sector suffers from certain structural inconsistencies. i am compelled to make this statement as i see scope for greater role clarity and synergy in how the pccos & the ibos in the banks operate. i believe the pccos which act as bcsbi ’ s nodal point of contact with the member banks and serve as extended arms of bcsbi for monitoring implementation of codes in the banks at all levels must play a more preventive role. for that to happen, the pcco needs to be suitably senior in hierarchy with reporting lines to the ceo / customer service committee of the board. i understand, however, that currently this is not uniformly so. similarly, the office of the internal banking ombudsman which has been in place in the banks for almost last two years does not seem to have become an effective forum. our objective in institutionalizing the office of ibo was to ensure resolution of a majority of the complaints at the level of bank itself. office of ibo was envisaged as the ultimate authority to which all unresolved / partially resolved complaints were to be

factors now need to be brought to bear on the goal of ensuring protein security for the indian economy. once again, my best wishes to prof. parikh and thank you all for listening to me.
vol. 14 ( 3 ), pp. 21 - 36. 5 / 5 bis - central bankers'speeches

in each country more resilient to negative shocks, thanks both to the fiscal space accumulated in good times, and to the confidence of markets given by credible long - term commitments. while rules originate as a reciprocal guarantee among members of the union, they are also a useful reference for political deliberations in each member state. pursuing these aims requires careful design. the crux of the matter consists in operationalising the concepts of'forward looking'and'long term '. one would like to have rules that are strong enough to ensure that extra fiscal resources are accumulated in good times, but flexible enough to avoid imposing undue pro - cyclical fiscal contractions in bad times. it must be said that the procyclical impact of inflexible fiscal rules can be overstated, especially in a crisis. when a government faces a loss of the market's confidence in the long - term sustainability of its finances, there is no flexibility in formal rules that can spare it the need for forceful action. still, adequately accounting for the conjunctural situation remains a desirable feature of effective rules. let me say it once again : this works both ways. tough rules that require extra prudence and the build - up of fiscal buffers when times permit are a key condition to allow for easier constraints when times so require. 2 / 5 bis - central bankers'speeches nobody says that devising such rules is an easy task. there is a potentially vast choice of indicators, parameters, procedures and institutional structures, all of which have pros and cons. one has to be prepared to accept second - best solutions, also taking account of the need for reaching tricky political agreements. europe has long had such rules – and a lively debate about them. this is not the occasion for a retrospective assessment of existing rules, not even from the specific point of view of stabilisation policies. let me just say that, with all their limits and complications, on balance they are likely to have positively contributed to budget processes, not least by providing reference points and calling for improved domestic procedures – including at the constitutional level. still, especially after the covid crisis called for a suspension, there was a consensus that the system had become too complex and unworkable and that a reform was necessary. this process is now coming to a close, following the political agreement reached in february. a positive element of the new framework appears to be its explicit medium - term orientation, entailing a full - fledged
of governors of the federal reserve system, plans for reducing the size of the federal reserve's balance sheet, may 4, 2022. 4 / 4 bis - central bankers'speeches

since 1 / 4 bis - central bankers'speeches moderated to 5 percent, and the most recent data indicate that this trend of slowing inflation is continuing. still, inflation is well above the fomc's longer - run goal of 2 percent. this inflation target is an important bedrock principle for the fomc. it provides a " north star " for policy decisions and helps to improve the public's understanding of our goals and actions. 1 we are committed to attaining - and maintaining - a sufficiently restrictive policy stance to achieve our 2 percent longer - run goal. indeed, throughout this period of high inflation, one of the bright spots is that various measures of longer - run inflation expectations have remained remarkably well anchored and consistent with our 2 percent target. 2 imbalances endure our most important policy tool is the setting of the target range for the federal funds rate, which influences demand for goods and services by affecting borrowing costs. so far, tighter monetary policy from the federal reserve and central banks around the world is helping to bring a better balance between supply and demand. inflation has declined in a number of sectors, particularly for many categories of commodities and goods. in addition, the supply - chain bottlenecks that had constrained the supply of goods have largely dissipated. for example, the new york fed's global supply chain pressure index has declined to a level that indicates supply pressures are now actually somewhat lower than normal. 3 i hear the same from business leaders from around the federal reserve's second district, who confirm that supply chains have improved considerably. at the same time, data on rents for new leases provide early signs of slowing inflation for shelter. this is important because shelter inflation had been a significant driver of higher inflation over the past year. however, despite the moderation of inflation, imbalances endure, with overall demand still exceeding supply in the economy. this is seen in the inflation rate for core services excluding housing, which has been running around 4 - 1 / 2 percent since last august. fomc actions against this backdrop, the fomc has taken decisive actions to curb demand, restore balance to the economy, and bring inflation down. last month, the fomc raised the target range for the federal funds rate to 4 - 3 / 4 to 5 percent, its ninth consecutive increase. in its post - meeting statement, the fomc said it " will closely monitor incoming information and assess the implications for monetary policy. " 4 2 / 4 bis - central
being undertaken collaboratively is on ict governance implementation within the central banks using the control objectives for information and related technology ( cobit ) framework. mr chairman and distinguished delegates, the importance of ict governance can never be over emphasized. you may recall that infamous scandals such as enron in the usa, were largely caused by lack of resilient and sound corporate governance structures within the corporation. it is therefore only prudent that we must embrace and implement proper corporate governance structures in our central banks. the recent emergence of good corporate governance as a key business driver has seen the emergence of a new ball game, hence the importance of such frameworks as cobit. it is therefore my hope that by the end of the conference, delegates will learn and share a lot of issues on this tool. let me now turn my attention to another key issue that i expect delegates to discuss at this conference. this relates to the operation of the regional indicative strategic development plan ( risdp ), which is the sadc long - term ( 15 - year ) strategy. briefly, the risdp realigns the cooperation and integration priorities ; articulates the policies and strategies ; and, sets the overall targets of the processes for the different priority intervention areas. as you all know ict is listed as one such critical area. i therefore trust that this conference will seek to prepare a risdp action plan which will steer icts within the sadc region to higher levels. equally important, i also expect that this initiative will assist central banks to harmonise their functions so that they can benefit from each others ’ resources and knowledge. mr chairman and distinguished delegates, at this juncture let me also thank representatives of the hardware and software suppliers for coming to this conference. these are our partners and the technologies that have been implemented in our central banks would not have been possible without their technical advice, expertise and innovation. it is the wish of the reserve bank of malawi that in future all the sadc central banks can enter into group agreements on certain ict services that are provided by the vendors. we believe that this would enable us share the cost of expensive ict resources in order to achieve economies of scale. i would like to conclude by again thanking you all for coming to this conference and to malawi, which is widely recognized the world over as the “ warm heart of africa. ” you obviously may not have ample time to see what lake malawi has to offer but the least you can do is to sample our most popular “

chambo ” fish dish as well as taking a cruise on the lake. i wish you fruitful deliberations. it is now my pleasure to declare the 2007 sadc ict forum conference officially opened. i thank you all for your attention. god bless us all.