samchain/econo-pairs-v2 huggingface dataset:
speech by governor kganyago on the occasion of the announcement of the winners of the monetary policy committee ( mpc ) schools challenge 17 august 2018 programme director, honourable minister of basic education, ms angie motshekga, deputy governors, heads of department, guest speaker, aisha pandor, colleagues from the south african reserve bank and the department of basic education, parents, representatives from schools, distinguished guests, ladies and gentlemen i am honoured to be standing here this afternoon as we pay tribute to some of the most outstanding economics learners in the country. the monetary policy committee ( mpc ) schools challenge was launched as a pilot programme in 2012 by the south african reserve bank ( sarb ) in conjunction with the gauteng department of basic education ( dbe ). the challenge is a competition for grade 12 economics learners, which exposes them to how the mpc sets the repurchase ( repo ) rate. it also aims to increase the level of interest in economics as a subject of choice among high school learners, and to encourage learners to pursue a career in economics. the sarb has since expanded the challenge to other provinces, as follows : in 2014, to limpopo province ; in 2015, to the free state province ; in 2016, to mpumalanga province ; and in 2017, to the eastern cape, north west and northern cape provinces. today is a major milestone in the history of the mpc schools challenge. this is the first time that schools from all nine provinces have participated in the challenge. in july 2017, the minister of basic education, ms angie motshekga and i launched the national roll - out of this challenge at a media conference here at the sarb where it was announced that the kwazulu - natal and western cape provinces would be participating in the challenge from 2018, effectively opening the challenge to schools in all nine provinces for the first time. the number of participating schools has since risen from 70 ( seventy ) in 2012 to 813 ( eight hundred and thirteen ) in 2018 – impacting 3 212 ( three thousand two hundred and twelve ) learners. the sarb believes the competition will raise the level of understanding of monetary policy, and contribute directly and indirectly to broad public economic education. the students who participate in the mpc schools challenge will also have a better understanding of the role of the sarb. at the onset, we must commend our school finalists ( in alphabetical order ) : empucu

empower you to understand how economic theory is translated into practice. thank you
##ive hours of discussion with the committee, its working groups and member authorities. above all, banks and other private sector bodies helped us to ensure that supervision would be more closely aligned to sound industry practices. a second group would be those supervisory agencies, central banks, multilateral financial institutions, and other public authorities around the world who shared with us the perspectives and needs of banking systems that are based in many different markets, economies, and legal systems. thanks to discussions with these colleagues, such as through joint working groups like the core principles liaison group and through regional consultations and meetings, the committee was better able to ensure that the new framework would be relevant to many different kinds of banks and economies that are in various stages of growth and development. the cooperation of so many public authorities worldwide has helped to make basel ii a truly global product. the committee will continue to seek opportunities to deepen its relationships, and its opportunities for discussion, with other supervisors and central banks in the months and years ahead. of course, this work would have been impossible without the sponsorship of the bank for international settlements. i would like to offer my sincere thanks to malcolm knight, the general manager of the bis, for his institution ’ s support of our work on basel ii. the bis has been a staunch ally and advocate for our work over the entire thirty - year history of the committee. with regard to basel ii itself, the bis is fostering a greater understanding of the new framework among central bankers and supervisors worldwide through programs organised by its financial stability institute, the “ fsi ”. the committee looks forward to continued collaboration with the bis on matters related to financial stability. basel ii represents a genuine success story in international cooperation. and we know that our need to cooperate and to collaborate does not end when we release this framework. indeed, under basel ii, supervisors and central bankers will need to work even more closely together in the future, especially in view of the evolutionary nature of basel ii. and the committee has a full agenda ahead of it. we must, of course, continue to work on the specifics related to the implementation of the framework and its calibration. we must also ensure that the new framework keeps pace with market developments and advances in risk management practices. as we carry out this work, the committee intends to continue its discussions with the industry and other supervisors in the same open and transparent manner as we have to date. it has been an honour for me to participate in and help to lead this process

, and i look forward to the next phase of the basel ii project as we turn toward national adoption and implementation. thank you.
hyperon, apr 2022, " how parametric insurance is reinventing the industry ". 6 / 6 bis - central bankers'speeches

a challenge not only to emerging economies but also to the more developed financial systems and economies. lessons from the financial crisis while there are benefits to be gained from the internationalization of financial systems, the risks to financial stability have also increased immensely. the risks generally emanate from the greater prospects for contagion following the greater degree of interdependence. these risks would be even more pronounced in emerging economies in which financial systems have yet to become more developed and matured. to be better positioned to reap the benefits from internationalization of financial systems in emerging economies, the crisis provides us with several lessons. firstly, is to recognize that the different parts of the domestic financial system is highly interconnected. this also includes those parts that may not be under the regulatory capture. financial stress in a specific segment may no longer be confined to that segment but may rapidly be transmitted to the rest of the financial system. thus, a piecemeal policy response would not be sufficient. it would require a comprehensive response to ensure that such stressed conditions does not evolve into a major financial crisis. secondly, the build - up of risks to financial stability need to be identified early. pre - emptive action would reduce the cost of the crisis on the financial system and the economy. third, the regulatory authorities need to be accorded the necessary powers to manage the risks to financial stability. fourth, the optimal policy mix may not only include policy actions to address immediate term issues but would also need to simultaneously address the underlying structural problems. fifth, is to give recognition to the importance of enabling conditions that will render the implemented policies to yield the desired outcomes. finally, to facilitate effective policy decision making there needs to be a platform and governance process for policy coordination across agencies within an economy and for this to be extended for regional and international collective action. following the recent global financial crisis, the policy response at the national level has been extensive and on an unprecedented scale. while there has been wide ranging financial reforms at the international level to strengthen the resilience of the financial sector, the cross bis central bankers ’ speeches border dimension of policy - making has not been as extensive. this is despite the swift spread of financial and economic shocks throughout the global economy and international financial system following the eruption of the financial crisis in 2008. despite these increased challenges, the institutional arrangements for policy cooperation and coordination have yet to reach the levels that are commensurate with the degree of global economic and financial integration. while the individual efforts
or why did we raise rates by 50 basis points rather than 25? inevitably, the answers to these questions involve an element of judgment. but the truth is that the answers are not very important in the medium term. rather, it is the average level of interest rates that matters. have we allowed them to stay too low and so encouraged the build - up of an inflationary process, or have we raised them too high and so set in train a contractionary or deflationary process? these are the important questions, and any judgment on them must be based on the medium - term performance of the australian economy. this may not be a simple task, but i would suggest that a favourable judgment would require that the macro - economic performance of the australian economy be better than in earlier decades, and that it stand up well in comparisons with the experience of other countries over the same period.

for disagreement about how it is applied in practice. such differences of view are part and parcel of the normal policy debate, and we of course participate in it and listen to other views. in passing, i should say that i think the debate is carried out in a much more civilised way these days, compared with a number of earlier periods i can remember. i attribute this improvement to the fact that there is now wider agreement on the underlying model than in earlier periods. table 1 : real gdp growth and consumer price inflation average annual rate since 1990 country gdp country cpi ireland 6. 3 japan 1. 0 australia 3. 5 france 1. 8 norway 3. 3 new zealand 1. 9 united states 3. 3 switzerland 2. 1 netherlands 2. 9 denmark 2. 2 new zealand 2. 6 finland 2. 2 canada 2. 5 canada 2. 2 spain 2. 5 belgium 2. 3 belgium 2. 2 australia 2. 3 denmark 2. 1 netherlands 2. 5 germany 2. 1 germany 2. 5 united kingdom 2. 1 norway 2. 5 finland 1. 8 ireland 2. 6 france 1. 7 sweden 2. 9 japan 1. 5 united states 3. 0 italy 1. 5 united kingdom 3. 5 sweden 1. 4 italy 3. 9 switzerland 1. 0 spain 4. 0 source : oecd. nevertheless, differences of view remain, and i would like to say a few words about some of them today. the first area where there is always room for differences of view is on how to interpret the many individual pieces of economic data that come in virtually every day. how important is any particular statistic? is it indicating strength or weakness? are there special factors that have to be taken into account before it can be interpreted? does it have any implications for monetary policy? this “ bottomup ” approach is widely used and it means that there is almost daily discussion in the media and elsewhere of the current and future strength of the economy. my observation over the past four years is that the bulk of people expressing a view on this subject invariably argue that the economy is weaker than the reserve bank judges it to be. there are very few on the other side to act as a balance. the majority of people who present a view think that the reserve bank has a recurring tendency to over - estimate the strength of the economy. this view is quite wrong : the fact is that we have consistently under - estimated its strength. you only have to consult my half - yearly
strengthen and develop its financial sector. liberalising the financial sector is not a question of whether but how. mas, through its growing partnership with the central bank of myanmar, is happy to contribute to this effort where it can. we have been deeply engaged in many training programmes and stand ready to share our experiences where relevant. singapore wants myanmar to succeed and prosper, and realise its huge potential. i wish you fruitful discussions. bis central bankers ’ speeches

a “ super - cycle ”. emerging asia economies refer to china, india, korea, hong kong, taiwan, singapore, thailand, malaysia, indonesia and the philippines. excluding the hong kong dollar. bis central bankers ’ speeches • fourth, the effects of an impending interest rate hike in the us – the first after seven years of extremely easy monetary policy – are being priced in across asian markets. these are not necessarily unwelcome developments. the correction in china ’ s stock market is not surprising given the stretched valuations that had developed over the preceding year. and it serves to deflate some of the excesses that have built up in the system, such as the rapid rise in margin financing. the 2. 5 % depreciation of the rmb against the us dollar since august is consistent with the divergence in growth momentum between china and the us. it must also be seen in the context of the 15 % appreciation of the rmb in real effective terms during the year to july. the move towards a more market - determined exchange rate is in line with the broader liberalisation and internationalisation of the currency. the gradual tightening of financial conditions in emerging asia as interest rates normalise in the us will serve to rein in the excessive credit expansion seen in some of the regional economies in recent years. it is not a bad thing to break the psychology of monetary overdependence on the part of markets and even some policymakers. talk of currency wars is over - blown and comparisons with the asian financial crisis are over - done. to be sure, some of the gyrations in financial markets have reflected concerns among investors about the moderation of growth in asia. • the sluggish recovery in the g3 economies has taken the wind from many tradeoriented asian economies. • at the same time, the transition to domestic - led growth has been bumpy. structural reforms to raise human capital, spur new investments and reduce impediments to growth have not proceeded quickly enough in many countries. so, downside risks remain, and there may be further bumps along asia ’ s growth trajectory. but asia is still expected to grow faster than other emerging economies. • in china, debt overhang and excess capacity will be a drag. but sustained monetary and fiscal stimulus measures should help to pre - empt a sharp slippage in economic activity. • in the asean countries, a slowdown in export growth will have a negative impact. but public infrastructure spending and private
##gradati on. pdf https : / / www. bankingsupervision. europa. eu / press / pr / date / 2020 / html / ssm. pr201127 ~ 5642b6e68d. en. html https : / / eur - lex. europa. eu / eli / reg _ impl / 2022 / 2453 / oj https : / / www. eba. europa. eu / eba - publishes - its - roadmap - sustainable - finance in recent years, supervisory efforts in this field have also stepped up. for example, with the ecb thematic review, 21 carried out in 2022, on compliance with supervisory expectations and the climate risk stress test22 whose results were published in the summer. these exercises showed that although banks have made progress in including these risks in their day - to - day management, there is still much to be done. i will now briefly mention the key aspects of these two exercises. thematic review the thematic review23 shows, among other aspects, that more than 80 % of institutions recognise that climate risks have a material impact on their risk profile and that, in consequence, they have begun to include climate - related risks in their risk management framework. for example, they have mapped risk exposures and allocated responsibilities within their organisation, set risk indicators ( kpis ) and begun to develop qualitative mitigation strategies. however, these measures are still not considered sufficiently sophisticated and, in addition, there is still a considerable shortage of granular data. indeed, less than 10 % of institutions use sufficient forward - looking data to manage this risk. both the ecb and the national supervisors hope that by the end of 2024 institutions ’ practices in this area will be fully aligned with supervisory expectations. https : / / www. bankingsupervision. europa. eu / ecb / pub / pdf / ssm. thematicreviewcerreport112022 ~ 2eb322a79c. en. pdf lhttps : / / www. bankingsupervision. europa. eu / ecb / pub / pdf / ssm. climate _ stress _ test _ report. 20220708 ~ 2e3cc0999f. en. p df lhttps : / / www. bankingsupervision. europa. eu / ecb / pub / pdf / ssm. thematicreviewcercompendiumgood

two decades, through the basel committee on banking supervision, to improve bank supervision and regulation. the revised capital accord, now almost fully developed, places much greater emphasis, implicitly and explicitly, on improved risk - management systems. all of this has the potential for placing even more responsibility on commercial banks for reducing both their own and systemic risk. most financial institutions will neither need nor be expected to achieve the complex risk - management practices required by the new basel accord for large, complex banking organizations, but their operations will not be unaffected. success, indeed survival, requires that we all adapt. the recent experience of the u. s. banking system suggests that it has begun to prepare itself for the task.
nicholas c garganas : eu enlargement remarks by mr nicholas c garganas, governor of the bank of greece, at the panel discussion : “ the future of europe ”, at the cultural days of the ecb, frankfurt am main, 24 october 2007. * * * 1. i am delighted to be taking part in this discussion on the future of europe. my remarks will deal with the issue of enlargement. eu enlargement has been a long and involved process. the eu has expanded on five occasions, growing from six members to 27 members. beginning with the first enlargement in 1973, enlargement has been at the core of the eu ’ s development. it has provided both political and economic benefits. the first four enlargements involved only two or three countries on average and took place every 10 years or so. the fifth enlargement was much larger ; it comprised 12 countries and took place in two stages – in may 2004 and january of this year. although it was larger, it went smoothly and was a success. the 12 countries were integrated into the eu without any problems for the eu or for the countries themselves. it brought over 100 million new citizens, with rising incomes, into the eu. politically, enlargement has helped to overcome the division of europe and succeeded in establishing a regional system based on democracy, and a respect for human rights and the rule of law. it has helped the eu respond to major changes, including the fall of dictatorships and the collapse of communism, bringing stability and solidarity among its members. economically, enlargement has helped to increase prosperity and competitiveness, enabling the enlarged union to respond better to the challenges of globalization. in sum, enlargement has increased prosperity in the union and has strengthened the security of all eu citizens. in a continent the history of which had been marked by turbulence and conflicts, these political and economic benefits are not small achievements. 2. now let me say something about the present enlargement agenda. as you know it covers turkey, croatia, and the former yugoslav republic of macedonia, which are at different stages on the road towards eu membership. these countries have been given by the council the clear perspective of becoming eu members once they fulfill the necessary conditions. however, these countries each face some difficulties, especially since some enlargement fatigue appears to have set in. after growing from six members to 27 members, we should expect some slowdown in the pace and extent

to adapt to changing circumstances, and i am confident that it will continue to do so in the future. in this way, the eu will continue to ensure a prosperous and secure environment for its citizens. ladies and gentlemen, thank you for your attention.
), the committee recommend that 100 per cent of the advance under gcc at rural and semi - urban branches of ner would be treated as priority sector. 6 • given the unique cultural and language barriers in ner, the committee suggested an approach that is based on enhancing the capacities of the existing branches of commercial banks, rrbs, and co - operative banks having more recourse to bank / shg linkage programme, bc / bf model and extensive use of information technology enables services to facilitate offsite banking. previously, fifty per cent of credit outstanding under gcc up to rs. 25, 000 was eligible for being treated as indirect agriculture financing. bis central bankers ’ speeches b. report of the task force on msme to address the issues related to the msme sector, a task force under the chairmanship of the principal secretary was constituted in 2009. a separate sub - group was also constituted to look into the development of msmes in the north - east and jammu & kashmir. the recommendations made by the sub - group pertaining to ner are discussed below. • focus to thrust areas : development focus should shift on thrust areas such as handicrafts, horticulture, textiles, livestock development and food processing industry. • cluster development : to provide more focussed attention, in the ner, a regional resource centre ( rcc ) has been set up at indian institute of entrepreneurship, guwahati, with 7 sub - centres in all the ne states. the rcc cater to the need of entire ner with respect to cluster development, training, mapping of clusters, advisory services etc. • marketing support : one among the major difficulties faced by the entrepreneurs of ner is marketing of their products due to their distant location and lack of adequate transportation / communication facilities. the national small industries corporation ( nsic ) organises exhibitions for display of products and handicrafts belonging to ner. the sub - group recommends that ( a ) more exhibitions, both domestic as well as international, could be organised to expand the markets for ner products ; and ( b ) market linkages should be encouraged under the schemes of various ministries / departments. • skill development : the skill and training infrastructure in ner must be strengthened. new institutions must be encouraged to impart requisite skills to the local unemployed youth. • setting - up industrial estates : on account of prevailing unique land mortgage system in ner, availability of land is one of the major issues faced

. i am sure, when ready, the plan would provide rbia with guidelines to combat the emergency efficiently and effectively. before i end, i would like to emphasise the urgent need for adopting proactive approach in streamlining records management in the bank. with the enactment of right to information act the records management system needs closer look so that systems are evolved for instantaneous storage and retrieval of information for dissemination purposes. i once again congratulate rbia and its staff on silver jubilee and hope that they would be able to tackle future challenges efficiently and effectively. thank you.