samchain/econo-pairs-v2 huggingface dataset:
the introduction of this product here in fiji. we totally support any initiative or pilot project in microinsurance, and hope that insurance companies do take the initiative to explore the potential of this market. i ’ ll now invite mike mccaffrey, the technical specialist for pfip to introduce the topic for the evening, microinsurance.

sada reddy : information exchange on microinsurance in fiji speech by mr sada reddy, governor of the reserve bank of fiji, at the “ information exchange on microinsurance ” in fiji, suva, 15 july 2010. * * * it is a pleasure for me to address the opening of this “ information exchange on microinsurance. ” first, let me extend a warm welcome to you all. tonight we have gathered leaders from the private and public sectors together in order to discuss an important topic in financial inclusion – microinsurance. from the ceo ’ s of insurance companies, to rural cooperatives of farmers, everyone here has a part to play in the development of this field, which will help create a more stable and secure fiji. as you all know the reserve bank of fiji continues to partner with key stakeholders of financial inclusion like the pacific financial inclusion programme ( pfip ), to extend financial services and financial literacy to rural and low income people around fiji. this event is another example of this strong partnership and represents some of the wonderful progress we have made together over the last year. the national financial inclusion taskforce turns five months old in three days, and has already been displaying some impressive results. exactly one month ago, nfit brought vijay mahajan, founder of basix bank and chair of the cgap executive committee to provide insight on the status of financial inclusion in fiji. further at the end of last month the asian development bank presented a comprehensive report it completed on the same topic to nfit. the report made obvious some areas in which we need to make reforms, and also offered some clear guidance on paths we can take moving forward. one issue the report exposed was that we currently have no standardized reporting format for microfinance, which means financial transparency is very low. in order to increase the transparency of microfinance institutions, and facilitate better performance monitoring standards, rbf and pfip collaborated to provide financial reporting training to 35 people here in fiji at the beginning of this month. this is an important step to building the local capacity here now, to ensure that microfinance initiatives in the future are both stable and sustainable. further, the nfit working group on financial literacy has designed a strategy and is busy implementing financial literacy into the national curriculum here in fiji, so all our children will have the basic understanding of money management they will need to succeed. scoping is also being done by pfip to conduct a national baseline
delisle worrell : economic and financial services developments in barbados welcome remarks by dr delisle worrell, governor of the central bank of barbados, at the domestic financial institutions conference 2015, bridgetown, 8 september 2015. * * * welcome everyone to the annual one day conference on banking and other financial services for barbadians and residents, organised by the financial services commission and the central bank, in association with the bankers ’ association and our other partners in the private sector. as you know the fsc and cbb host two of these conferences every year, the other one with a focus on our international financial services. ( the 2015 international financial services conference took place on april 10 ). today ’ s conference comes at a time when the economy has overcome the foreign exchange challenge of 2013 by the decisive budgetary adjustment taken in that year. the adjustment policy is a textbook example of how economies like ours should respond to foreign exchange market pressure. the keys to success are early detection of the problem and swift implementation of tax increases and public expenditure cuts, sufficient to reduce the demand for imports. with that episode behind us, the focus returns to measures to grow the economy. tourism is our main source of foreign exchange and we have had an encouraging revival in numbers and spending this year. new investment is underway or in prospect in hotels, tourism related services, public utilities and infrastructure. both in tourism and in international business and financial services, government and private interests are taking initiatives to enhance the quality and range of our offerings, to explore new markets and to build the barbados brand as the basis for our competitiveness. quality, branding and smart marketing are also the key elements of the strategy for exports of food, beverages and manufactured goods. we have begun to recognise that power generation through alternative energy has the power to transform our economy. now that we have made a start with photovoltaics, incentives for investment in green energy must be made effective, so that investment accelerates significantly. the economic benefits of expansion of the foreign exchange sectors are spread through the society largely via small and medium enterprises. these enterprises will be the main source of job creation in the near term. smes are also the wellsprings of innovation and of the development of cultural and ict services barbados aims to sell to an international market. government plays a vital role in supporting these growth promoting activities with incentives, and technical, financial and other support. in addition, government has the responsibility to secure fair access to international markets for barbados ’

end with a panel on electronic commerce in which we will discuss the availability of electronic payments facilities and what measures would be most useful in promoting e - commerce. bis central bankers ’ speeches
one of the world ’ s largest economies, and hong kong, one the world ’ s freest and most open economies, stand to reap immense benefits from it. thank you.

, the pboc is accountable to the state council and the branches of the pboc are accountable to the headquarters. as mentioned earlier, although hong kong has been subject to a severe ordeal during the financial turmoil, the pboc and other mainland government departments have not interfered in hong kong ’ s monetary affairs. furthermore, our autonomy in the management of hong kong ’ s foreign reserves is an important element in the mutual independence between the two monetary authorities. 13. while maintaining a mutually independent relationship, the two monetary authorities will continue to maintain and strengthen further the existing sound co - operation between the two places. both parties have held several regular and ad hoc discussions about monetary management, crossborder supervision of financial institutions and linkages between payment and settlement systems, and the achievements in these fields have been many. the mutual trust between the hkma and the pboc has contributed to exchanges and co - operation between the two places in relation to monetary affairs. ( c ) financial business between the mainland and hong kong are treated as international financial affairs and are conducted in accordance with the rules and practices of international financial activities. 14. all financial transactions between the two places after the handover have been conducted according to the rules and practices of international financial activities. claims and liabilities between banks and companies from the mainland and those in hong kong are regarded as external claims and liabilities. investment by hong kong companies in the mainland is regarded as foreign investment. when raising funds in hong kong, mainland entities are treated as other international and local market participants. mainland companies listed in hong kong are required to abide by security laws of hong kong and are regulated by the relevant regulatory authorities in hong kong. disputes relating to financial transactions are handled in accordance with international practice. where china ’ s arbitration law and other relevant laws and regulations are applicable according to the terms of a contract, the provisions relating to arbitration involving foreign parties are applied. ( d ) the hksar maintains its existing system of currency issuance and management. the hong kong dollar and the renminbi continue to circulate as legal tender in hong kong and the mainland respectively. the hong kong dollar is treated as a foreign currency in the mainland. likewise, the renminbi is treated as a foreign currency in hong kong. 15. the basic law has provided for the legal status of the hong kong dollar. the renminbi is still not yet freely convertible. however, even if it becomes freely convertible, it will only be one of
funding in place, the prudent thing for banks – collectively – to do is lend. failure to help the corporate sector finance its cash - flow deficit will result business failures and unemployment that create greater losses for banks on their existing loans. those losses could far outweigh the small gains they might enjoy from protecting their balance sheets in the short run. 8 so lend they have. businesses have now raised – net of repayments – more than £50bn from banks since february. more than £30bn of new lending has occurred through the 100 % government guaranteed bounce back loan scheme. these 1 million loans are vital for many of the smallest businesses to bridge the disruption. but they do not help to finance the cash - flow deficit of medium and large sized companies that i described earlier. banks have lent £25bn has been lent to these companies, net of repayments. within that, there has been £12bn of lending approved through 55, 000 loans under the cbils scheme ; a further £2. 9bn through 428 loans under the clbils scheme. add to that at least £7bn of new bond issuance and £19bn lent through the ccff and these companies have raised at least £50bn of new debt. see may 2020 interim financial stability report on 11 march, the fpc reduced the uk countercyclical capital buffer rate to 0 % with immediate effect, and set out its expectation that it would maintain this rate for at least 12 months. further to this, in the q & a on the use of liquidity and capital buffers, the pra set out its general expectation that any required rebuild of capital buffers would be gradual, and that banks would not be expected to restore their capital buffers in full until a significant time after the end of the current stress. see may 2020 interim financial stability report all speeches are available online at www. bankofengland. co. uk / news / speeches and @ boe _ pressoffice the financial system is well on the way to filing the financing needs of businesses. [ see slide 4 of accompanying deck ] by no means all the additional finance to preserve productive capacity has yet been delivered, particularly given the limited appetite many businesses may have to run down their cash buffers in the face of uncertainty. fuel must continue to be injected. and the fuel may need something extra to be added. that additive is equity. the case for equity there are at least three reasons for adding more

between a strain in our economic muscle that recovers quickly and a muscle tear that holds back economic performance for some time to come. thank you. all speeches are available online at www. bankofengland. co. uk / news / speeches and @ boe _ pressoffice
user costs. digital currencies, including central bank digital currencies ( cbdcs ), present opportunities but also risks associated with privacy, illicit activity, and financial stability. the introduction of bitcoin and the subsequent emergence of stablecoins with potentially global reach, such as facebook ’ s libra, have raised fundamental questions about legal and regulatory safeguards, financial stability, and the role of currency in society. this prospect has intensified calls for cbdcs to maintain the sovereign currency as the anchor of the nation ’ s payment systems. moreover, china has moved ahead rapidly on its version of a cbdc. with these important issues in mind, the federal reserve is active in conducting research and experimentation related to distributed ledger technologies and the potential use cases for digital currencies. given the dollar ’ s important role, it is essential that the federal reserve remain on the frontier of research and policy development regarding cbdcs. as part of this research, central banks are exploring the potential of innovative technologies to offer a digital equivalent of cash. like other central banks, we are continuing to assess the opportunities and challenges of, as well as the use cases for, a cbdc, as a complement to cash and other payments options. there continues to be strong demand for u. s. currency, and we remain committed to ensuring the public has access to a range of payments options. we have been conducting in - house experiments for the last few years, through means that 1 / 3 bis central bankers'speeches include the board ’ s technology lab, which has been building and testing a range of distributed ledger platforms to understand their potential opportunity and risk. this multidisciplinary team, with application developers from the federal reserve banks of cleveland, dallas, and new york, supports a policy team at the board that is studying the implications of digital currencies on the payments ecosystem, monetary policy, financial stability, banking and finance, and consumer protection. to enhance the federal reserve ’ s understanding of digital currencies, the federal reserve bank of boston is collaborating with researchers at the massachusetts institute of technology in a multiyear effort to build and test a hypothetical digital currency oriented to central bank uses. the research project will explore the use of existing and new technologies as needed. lessons from this collaboration will be published, and any codebase that is developed through this effort will be offered as open - source software for anyone to use for experimentation. the objectives of our research and experimentation across the federal

. 5 bank for international settlements, “ bis innovation hub to expand to new locations in europe and north america, ” news release, june 30, 2020. 3 / 3 bis central bankers'speeches
system for the 21st century? ”, per jacobsson lecture, basel, june 2011 eichengreen, barry and bordo, michael : “ crisis now and then : what lessons from the last era of financial globalisation ”, in p. mizen ( ed. ), monetary history, exchange rates and financial markets : essays in honour of charles goodhart, vol. 2, cheltenham, uk : edward elgar, ch. 3, pp. 52 – 91, 2003 goodhart, charles : “ the changing role of central banks ”, bis working papers no. 326, greenspan, alan : “ the age of turbulence : adventures in a new world ”, penguin press, pp. 462 – 464, 2007 haldane, andrew : “ control rights ( and wrongs ) ”, economic affairs, vol. 32, 2012 haldane, andrew and vasileios, madouras : “ the dog and the frisbee ”, fed reserve of kansas 36th policy symposium, jackson hole, wyoming, 2012 haldane, andrew and vasileios, madouras : “ what is the contribution of the financial sector? ”, voxeu. org, 2012 padoa - schioppa, tommaso : “ markets and government before, during and after the 2007 – 20xx crisis ”, per jacobsson lecture, basel, june 2010 financial services authority : “ the turner review : a regulatory response to the global banking crisis ”, 2009 bis central bankers ’ speeches

especially if several of these factors weakened at the same time and the economic climate deteriorated sharply. that ’ s a long way from our central forecast, but uncertainty about how consumers might react to higher interest rates has been an important reason for tightening policy gradually since last november. we have also avoided springing surprises. i think that ’ s important : people are more likely to believe what we say, if our behaviour is reasonably predictable. but we wouldn ’ t be doing our job if we didn ’ t constantly revise our views in the light of new information and new research. that is why every month has to be a fresh decision. and why i can honestly say that i don ’ t know, any more than anyone else, where rates will be in a year ’ s time. compared with a year ago, interest rates have risen from 3. 5 % to 4. 5 %. but the international outlook is clearly stronger now, the domestic economy is buoyant, and inflation remains low. that ’ s how we like it : and the lesson you should draw from our readiness to tighten policy over the past seven months is that we are on the case. i hope that will give you the confidence to focus on your main business ; creating wealth and ‘ making people happy ’.
##line that the new guidance we are giving to banks in the form of the revised basel accord should, to a large extent, reflect “ sound market practises ”. to obtain an optimum result, it is essential that banks contribute to this regulation by providing technical input.

mr welteke examines the extent to which markets need guidance and in which specific areas statement given by mr ernst welteke, president of the deutsche bundesbank, at the frankfurt european banking congress, held in frankfurt on 19 november 1999. * * * i to address the main question of this panel : yes, financial markets do need guidance. but this is not a sufficient answer in itself. in a market economy the real question is the extent to which markets need guidance and in which specific areas? the differences which may exist in the three areas ( accounting standards, electronic money and the new basel accord ) are mainly a consequence of differences in underlying financial systems, but they are also the result of different traditions. the us financial system relies much more on capital market instruments than the european financial sectors. the issuance of bonds and stocks listed on the stock exchange is a more widely used instrument in raising capital for enterprises. market capitalisation of outstanding shares as a percentage of gdp amounts to about 180 % in the us, compared with 53 % in germany. most european financial markets are based on bank / customer relationships focusing on the traditional loan business. in germany, for example, capital market financing ( including shares ) amounts to only about 38 % of total funds raised by enterprises ( in the us this ratio is about 70 % ). as a consequence, securitisation is not as widespread in europe as in the us, and both the depth of the european capital markets and the volume of financial transactions cannot yet fully compete with the anglo - saxon markets. however, i expect that the euro will gain increasing importance and live up to its full potential as a transaction, reserve and investment currency. this should also contribute to a further narrowing of national financial markets ’ roles and structures, and, on the whole, strengthen european capital markets. ii what does this all mean for the issue of guidance for financial markets? let me start with a general principle which is widely accepted : regulations should provide a framework that best suits the specific market conditions. this means that regulations are a reflection of market developments and structures and not a driving force for changing markets. constraints on markets and developments are only justified where financial stability or issues of competition, protection of depositors and investors, or the functioning of the markets in a more general sense are at stake. as long as differences in financial market structures exist a detailed “ one size fits all ” approach will not be fully compatible with the goal of creating or even improving the level playing field
njuguna ndung ’ u : financial market and payment system developments in east africa remarks by prof njuguna ndung ’ u, governor of the central bank of kenya, at the 17th ordinary meeting of the east african community monetary affairs committee ( mac ), nairobi, 16 may 2014. * * * my fellow governors ; deputy secretary general, eac secretariat ; delegates from the eac central banks ; eac secretariat officials present ; imf officials present ; distinguished guests ; ladies and gentlemen : good morning. it is a pleasure to welcome you to nairobi for the 17th ordinary meeting of the east african community monetary affairs committee. it is an honor for me to host this important meeting that will deliberate on pertinent issues aimed at driving forward the eac integration agenda. we are also grateful to have the eac central bank governors grace the official launch of the east african payments system ( eaps ), later today. the launch of eaps marks a key milestone in the eac integration process and will improve the efficiency of the payments system in the region. this is one of the targeted quick wins by the eac central banks. fellow governors, we have managed the financial sector in a commendable manner since the onset of the financial crises in 2008, a period beset with structural shocks, both external and internal. despite the challenges, the conduct of monetary policy in the region has continued to take effect, and is delivering expected results. we have in the recent past managed to coordinate among others, market expectations on inflation, which is a great boost to the credibility of central banks in discharging the principal mandate of price stability. this outcome partly reflects implementation of appropriate operational frameworks that have strengthened both the signaling of the policy stance and fining - tuning interbank liquidity management. however, a few challenges, though no less important, still remain especially in the conduct of open market operations where interventions to stabilize interbank liquidity are at times misinterpreted by money market participants as an attempt to defend a particular level or direction of the value of the currency. it appears we have to strive even more to improve our communication on monetary policy operations in order to enhance the market ’ s understanding of our use of available tools for monetary policy operations. reverting to the purpose of this meeting, we are here to : review progress on the implementation of the decisions of the 16th mac meeting held in kampala on may 23, 2013 ; consider strategic objectives to operationalize

##hip, and notably your commitment in driving and modernizing the financial sector in the region over the last 8 years of my term. let me conclude by once again, thanking the bank of tanzania for the warm welcome and hospitality. with these few remarks, i look forward to fruitful engagement in discharging our mandate in this meeting. thank you. bis central bankers ’ speeches