samchain/econo-pairs-v2 huggingface dataset:
decreased to 135. 8 million euros, from 176. 2 million euros a year ago. regarding other macroeconomic indicators, it is worth noting that the average annual inflation rate until november 2020 was 0. 2 percent compared to the rate of 2. 7 percent recorded in 2019. this price movement trend reflects price dynamics in international markets, but also the decline of general economic activity in kosovo during this year. * * * now, let me move on to the developments in the country's financial system : in accordance with the new conditions that were created in the country's economy, the cbk was proactive in reacting quickly in order to maintain the normal functioning and stability of the financial system and, at the same time, to put the financial system at the service of the economy. * * * in this way, from the first days of the restrictive measures, the cbk activated the work continuity team, which had the task of monitoring and providing instructions that ensure the smooth running of the cbk and the financial system in general. in this way, the regular functioning of the payment and cash supply system throughout the country was ensured at all times, including the areas which have been isolated for a longer period of time. the central bank, since 2016 has developed and operates an interbank system of secure and stable payments, which is based on international standards and best practices. during this year the number of bank accounts has reached 2. 26 million accounts, or an increase in the number of bank accounts of 4. 3 percent, which can be justified by the need for businesses and individuals to open bank accounts to benefit from the government ’ s economic facilitation measures.. also, compared to the same period last year, there was an increase of 22. 4 percent of accounts that have access to e - banking, where the number of e - banking accounts until october 2020 is 393 thousand. also, during 2020, the cbk has fulfilled the provision of a qualitative and quantitative supply of euro banknotes and coins for the banking sector in order to settle cash transactions of the economy and citizens. in order to deal as effectively as possible with the created conditions, the cbk has continuously been in coordination with all institutions of kosovo, financial institutions in kosovo, chambers of commerce, as well as international financial institutions, holding very frequent meetings to ensure that adequate and timely measures are taken against the needs of the economy. from the beginning, the cbk was part of the inter - institutional group

competition. this activity aims to promote research activity in the field of economics among young people. based on the evaluation of the professional commission for the evaluation of these works, today i have the pleasure to announce the winner of this award, mr. qendrim shkodra with the topic " kosovo's economy in the time of the pandemic, the impacts of covid - 19 on the local and international economy ". finally, hoping and believing that next year will be a more positive year in all aspects, i wish you good health, joy and success to all of you and your families.
a range of advice and support for those in arrears, including the money advice and budgeting service ( mabs ), the national mortgage arrears resolution service ( abhaile ) and a court mentor service to assist debtors faced with court proceedings. the government also introduced the personal insolvency act 2012. the insolvency service was established in march 2013 as an independent statutory body. the government also introduced a national mortgage - to - rent scheme. there are also a number of other non - statutory organisations providing assistance to those in mortgage arrears. and, as is evident from the significant reduction in mortgage arrears, much of this has worked, primarily through the engagement between lender and borrower, such that there are now c. 94, 000 restructured pdh mortgage accounts, 86 % of which are meeting the terms of the restructure arrangement21. but as is also evident, serious problems still exist. in this room, through dealing with the varied causes and consequences of arrears and indebtedness, we know that affordability and sustainability of lending at origination and the financial consequences of job loss, illness, or relationship breakdown all contributed to arrears formation. as part of public sector bodies working every day to help borrowers and make the system less risky, we know that this requires continued diligence and determination, regardless of what type of lender holds the loan. the central bank / single supervisory mechanism22 ( ssm ) do not have a preference for loan sales. we have a preference for sustainably reducing non - performing loans. there are multiple tools available, including : re - engaging with borrowers, restructures, accounting write downs, mortgage to rent, engaging through the insolvency service, sales and securitisations and the legal process. a sustainable restructure is good for the borrower and for the lender. these long term benefits are not always being given sufficient prominence relative to shorter term capital relief. there is clearly a high level of personal distress for borrowers when they are in arrears, particularly as they go through legal proceedings. however, a functioning secured lending market has to have meaning to that security. there are costs to all other borrowers through the impact on secured lending pricing together with financial stability risks where this security is undermined. this is reflected in the irish banks holding considerably more capital for mortgage lending than some european peers. it is also

oyer – january 2018. 26 love thy neighbor? ethnoracial diversity and trust reexamined. american journal of sociology, vol. 121, no. 3 ( november 2015 ), pp. 722 – 782. 7 / 7 bis central bankers'speeches
on current developments, while the best lessons we might learn from each other remain uncertain, our insights will be much, much better. thank you very much for your attention. bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches

) at our offices in lusaka and our regional office here in ndola. nevertheless, i am confident that the respective presenters will ensure clarity in their presentations and fully respond to any issues arising there - from. ladies and gentlemen, allow me, at this point in time to brief you on the performance of the economy in 2006 and the period january – august 2007. as you may be aware, zambia has in the recent past recorded macroeconomic stability and growth in the economy, reflected in low and falling inflation, relative stability in the kwacha exchange rate, falling lending rates and positive real gdp growth rates underpinned by strong private sector investment in all growth or priority sectors. further, the financial sector has been stable, and continues to post growth. in 2006, the performance of the zambian economy continued to be encouraging as it registered a positive growth of 6. 2 % in real gdp, marking the eighth consecutive year of positive real growth. you will note that over the period 2001 - 2006 growth in real national output averaged 5. 0 % per annum and was above the average population growth over the same period, while inflation declined to 8. 2 % in december 2006 from 15. 9 % in december 2005. distinguished journalists, it is worth - mentioning that the growth, which has been broad - based has extended beyond the recovery of the mining sector and shown resilience to adverse shocks, such as droughts and record increases in oil prices, agriculture, construction, transport and communications, and tourism sectors have been the other key contributors to the sustained increase in economic activity. a lot of progress continue to be made on the inflation front, as shown in september 2007, when inflation declined to 9. 3 % despite having risen to 12. 7 % in march. continued implementation of prudent monetary and fiscal policies, fairly favourable developments in the exchange rate coupled with pro - growth and pro - poor agricultural policies that have led to an increase in food supply and subsequent improvement in the country ’ s food security largely explain the favourable developments in inflation. for instance, the country recorded an increase in maize surplus to 250, 000 metric tons ( mt ) this consumption period from 160, 000 mt during the 2006 / 2007 consumption period. with respect to the money market, given lower inflation and yield rates on government securities, commercial banks lending rates have been on the downward path. this can be illustrated by the nominal average lending rates which declined to around 28 % in december 2006 from about 34 % in december
. 5 billion ) as at end - march 2010, a compounded annual growth rate of 35. 5 %. while such positive trends are encouraging, we are also mindful of the associated risks, such as non - performing loans, over - indebtedness and consumption of financial products and services that are not suitable for the user. in this regard, efforts towards financial inclusion are always conducted within the framework of sound banking practices, risk management and adequate consumer protection. importance of financial inclusion data in the growth and development of an inclusive economic system policy formulation for financial inclusion is complex for a number of reasons. first, it requires the active involvement of many different stakeholders, in particular government agencies and very often a variety of ngos, as well as financial institutions with specialized skills and knowledge. second, the state of economic and social development of a society is an important determinant on the level and quality of financial inclusion. third, what constitutes acceptable level of inclusion, in terms of access to finance, protection of personal rights and liberties, or assurance of retirement and healthcare benefits varies from one jurisdiction to another. for the reasons that i mentioned, there is no uniform global benchmark that can be used as a successful model for financial inclusion programs. success stories and experiences are dispersed and often go unrecorded and to further the cause we need to reveals this situation. the financial inclusion agenda requires a systematic and internationally - recognized set of financial inclusion indicators that is meaningful and capable of assisting us in formulating developmental policies. furthermore, enormous efficiency gains from the availability of such indicators can both reduce the cost of research and implementation as well as increase the effectiveness of the delivery and execution of the policies. lessons learned in using financial inclusion data in the malaysian context let me to briefly share some of the lessons we have learnt in terms of using data to improve the policy formulation process, and develop a more efficient and inclusive financial sector. perhaps the most interesting example is the development of quality credit data which has enabled financial institutions to make informed and responsible lending decisions in a timely manner and to be able to mitigate serious problems such as fraud. these data have also assisted bank negara malaysia in performing its macro - and micro - surveillance duties and in its policy - making role. the data in this case came from the development of a comprehensive credit registry system. the availability of such data also allows individuals with good payment track records to make a more credible case for access to credit, and helps overcome the limitation of inadequate collateral.

global agenda for a more inclusive financial system, and look forward to the fruits of your work in the months ahead.
4 ( * ) ipv stratified method. cchc hedonic model for new homes in metropolitan region ( rm ). source : central bank of chile using sii, cchc and sbif information.

- and long - term financing reached record lows, in line with market expectations for the mpr and the environment of low long - term external rates. in this context, institutional investors made moderate changes in the composition of their portfolios. in particular, the assets in layer 1 mutual funds continued to grow relative to the other funds ; life insurance companies continued to increase their positions in real estate investment ; and pension funds increased their exposure in local bonds. also, at the statistical closure of this fs report we did not observe any significant changes between the funds managed by the afps, in contrast to the significant transfer of affiliates to the e fund documented in the previous report. it is also worth noting that the financial position of local companies presents no big diversion from previous reports, despite the fact that local economic activity has performed worse than expected. total debt to gdp declined slightly, largely explained by external financing sources ( figure 12 ). meanwhile, the greater dynamism of bond issues has focused mainly on the refinancing of liabilities, while the growth rate of commercial loans remains low. the group of companies that report to the svs increased their profitability at the end of 2016. however, about 70 % of this increase has its origin in non - operational sources. finally, those firms in productive sectors that do not report to the svs and have no external debt, posted a decrease in their bank debt recently. this, combined with information from the bank credit survey, reflect lower financing needs of these firms, which is consistent with the evolution of local economic activity. the less dynamic economy has marginally affected the repayment behavior of firms, increasing the credit risk of the commercial portfolio. although delinquency levels are fairly low, since the last fs report some npl indicators showed increases. this, coupled with the fact that the fraction of loans rated sub - standard remained relatively high, has worsened the quality of the commercial portfolio ( figure 13 ). going forward, a less favorable macroeconomic scenario would lead to some these credits being defaulted. the evolution of the labor market has begun to reflect in deteriorated economic and financial indicators of households. thus, since the last fs report, bank consumer loans posted an increase in non - compliance. meanwhile, mortgage default ceased to decline as it had for some years ( figure 14 ). meanwhile, households'aggregate indebtedness continues to rise, most of all the mortgage component ( figure 15 ). most recently, survey responses reveal
i would also like to thank all of our development partners, especially kfw, gtz and the world bank, who have supported the project through both financial and technical assistance. thank you for listening. bis central bankers ’ speeches

emmanuel tumusiime - mutebile : introducing innovative services to meet credit needs in uganda speech by mr emmanuel tumusiime - mutebile, governor of the bank of uganda, at the yearend stakeholders ’ function and sharing of compuscan ’ s vision 2012, kampala, 8 december 2011. * * * the board of directors compuscan information technologies, managing director compuscan crb limited, representatives of the development partners ( word bank, kfw, giz ), representatives of the participating institutions ( pis ), distinguished guests, ladies and gentlemen. i would like to welcome you all to this event to launch officially the compuscore and compuscan ’ s vision 2012. i would also like to thank the board of directors and management of compuscan crb for inviting me to preside over this function. credit markets are plagued by informational problems, and these problems are especially acute in developing economies. informational problems raise transactions costs, often to such an extent that potential borrowers are denied access to credit in the formal sector. the adverse consequences of informational imperfections for financial markets were analysed in the 1970s by joseph stiglitz and george akerlof ; work for which they received the nobel prize. the etymology of the word “ credit ” is the latin verb “ credere ” ; to trust or believe. unfortunately trust alone is rarely sufficient to ensure that a creditor will ever get her money back ; hence credit decisions must be made on the basis of accurate, reliable data. without such data creditors will be reluctant to risk their money. a key challenge for policy makers concerned with financial market development is how to design policy interventions which can mitigate informational imperfections and thus reduce their negative externalities. the kernel of the challenge is how to ensure that accurate and reliable information about those which wish to raise finance can be acquired in a cost effective manner by those who provide finance and bear the risk of doing so. credit reference bureaux provide an institutional solution to the problem. a well functioning credit reference bureau mitigates information related market failures because it is compulsory for all participants in the credit markets to provide and share information, in circumstances where they may have private incentives not to do so. furthermore, the pooling of information in a credit reference bureau reduces the social costs of acquiring information. this was the motivation for the bank of uganda, with the support of development partners – kfw, gtz
2004 and the financial services act 2007. the banking act is administered by the bank of mauritius and applies to banks, non - bank deposit taking institutions and the cash dealers while the financial services act is implemented by the financial services commission which oversees all other segments of the financial sector including insurance and leasing. the non - bank deposit taking institutions engaged in leasing business are regulated and supervised by both the bank of mauritius and financial services commission, such overlaps not being uncommon in other jurisdictions as well. there are conglomerates having business in segments coming within the purview of both regulators. we have a joint coordination committee to exchange notes and we are moving towards the concept of a lead regulator. the bank of mauritius act basically sets out the responsibilities and functions of the bank and thus its provisions have a bearing on the bank ’ s regulatory and supervisory role. there are in all 19 banks and 13 non - bank deposit taking institutions. out of these institutions, at present there are two banks and three non - bank deposit taking institutions in which government has a majority stake – directly or indirectly. the shares in a bank in which the government - controlled development financial institution held a majority stake were divested to private entities recently. the government ’ s interest in the five institutions is held in different ways. for instance, in one of the banks government of mauritius directly holds a part of the shares while the remaining is held through government - controlled organizations like the pension fund etc. in another case, government stake is partly held by the government - controlled post office. one of those banks is listed on the stock exchange as well. two of the non4 banks are subsidiaries of government undertakings. in the final analysis though, the manner in which the government stake is held may not have any bearing on the control exercised by government on the entities ’ management. all these institutions are regulated and supervised by bank of mauritius like any other institution under its purview, as i would explain later on. however, a deposit - taking development financial institution in the public sector is not yet brought within the purview of the bank. a uniform regulatory approach in certain jurisdictions, the legal framework for regulation and supervision makes a distinction on the applicability of certain provisions of the legislation to privately - owned and public sector financial institutions. in india, some of the provisions of the banking regulation act ( 1949 ), particularly relating to the appointment of the chief executive and directors, are not applicable to the public sector banks. however, in mauritius, all

and staff of the mauritius civil service mutual aid association ltd. thank you for your attention. 2 / 2 bis central bankers'speeches
making the financial system safer and fairer remarks by michael s. barr vice chair for supervision board of governors of the federal reserve system at the brookings institution washington, d. c. september 7, 2022 thank you, david, and thank you to the brookings institution for the invitation to speak to you today. 1 on july 19, i had the honor of being sworn in as the vice chair for supervision of the board of governors of the federal reserve system. this job was created after the global financial crisis to lead the fed ’ s work overseeing the safety and soundness of banks and in support of its financial stability mandate. in the 12 years since then, great progress has been made in strengthening the banking system, and in strengthening oversight. i look forward to building on that work by helping to make the financial system safer and fairer, in support of an economy that serves the needs of households and businesses. on behalf of those who may wonder what “ building on that work ” means, i will speak about some of my near - term goals and how i will approach achieving them. starting with that word “ building, ” which to me means more than just “ maintaining. ” success in financial regulation and supervision does not mean standing still because finance does not stand still. the regulatory and supervisory framework adopted after the crisis recognizes that innovation and change are constant in finance, that our understanding of existing and emerging risks can and should deepen over time, and that regulation and supervision must evolve to be effective. many issues at the forefront of banking regulation today were not prominent five years ago, and some of them scarcely even existed. “ building ” means staying ahead of changes, evaluating how banks are managing risks, and making the financial system safer and fairer for households and businesses. when i say that one of my top goals is to make the financial system safer, it is because keeping it safe involves an active and never - ending effort to analyze risks and make necessary i am grateful to laura lipscomb of the federal reserve board for her assistance in preparing this text. the views expressed here are my own and do not necessarily reflect those of the federal reserve board or the federal open market committee. - 2adjustments. there is no responsible alternative to this approach because the stakes are far too high to do otherwise. the global financial crisis caused a terrible recession and brought the united states to the brink of an economic collapse that could have been worse than the great depression of the 1930s. a significant cause was

##er for households and businesses. as i said at the outset, i believe these goals are related and mutually reinforcing, so that progress in one area will advance efforts in the other. i have discussed a number of specific issues to illustrate these principles, but i ’ ll have more to say about these ideas, and other important reforms, in the coming weeks and months. thank you.