samchain/econo-pairs-v2 huggingface dataset:
##s business activities and risk appetite in order to provide an adequate internal control system to monitor and mitigate risks. risk - based supervision represents yet another endeavor to tackle the effectiveness of risk management of financial institutions as transaction testing may no longer be an effective approach to examine the ever - more complex financial institutions of today. i must therefore, commend apec for this initiative in bringing together bank supervisors across countries within the asia and the pacific region to learn and to share views and wisdom on this very important topic. it is my hope that all of you would take this opportunity to learn as much as possible from our highly experienced and knowledgeable speakers as well as from one another on the key issues relating to credit risks, but most importantly to reinforce supervision standards in order to enhance financial stability under your jurisdiction. ladies and gentlemen, i am pleased to declare open the apec financial regulators training initiative regional program on credit risk analysis. i wish you every success and a pleasant stay in bangkok. thank you.

that such events could cost. the obvious answer is that all the major important money centers and funds are in the advanced countries and the major countries systems being much more diverse is less liable to collapse when there are large movements of funds in any particular sector. banking in thailand for instance provides 77 % of all credit available in the country at this moment while in the us it is only 26 %. before you ask, we are of course trying to rectify this, trying to get banking down to 55 % of total credit by the year 2010, and in the last three years, somehow we have got the debt market which was before then nonexistent to be double the size of the stock market. but it takes life times and generations to change people ’ s habits and the nature of the country. the world monetary system could in fact be monitored quite easily if the superpowers of the world would only wish it to be done. it sends forces to keep peace in other countries, so it could quite just as well impose a system, a world monetary system that would significantly reduce this kind of crisis. but the only crisis which might have affected the superpowers were the ltcm crisis of the 1998 and the asian crisis of 1997 and it soon became apparent that the suffering could mainly be kept to the poor nationsand so it looks as though nothing good is going to happen in the international arena. let me end my statement therefore by saying that before coming here i looked at the list of speakers and participants and was truly impressed by the diversity and excellence. i have therefore tried to put some interesting thoughts in the area of national central banking for your perusal. all of us here wish for peace and prosperity in the world. each of us a little bit or a lot depending on the occasion can contribute to peace. so i truly hope that whenever the opportunity arise we will do our part to try and put up a better world monetary system at which tasks the emerging countries are so powerless.
. the financial system is able mobilize broader based savings and channel such funds to productive activities. these can contribute not only to financial resiliency, and stability but also to inclusive growth. there is a growing body of literature on the benefits of financial inclusion. it is therefore important that policy makers and regulators pay serious attention to financial inclusion side by side our traditional objective of maintaining financial stability. a stable financial system will gain more meaning if it serves the needs of the majority, especially the three quarters of the world ’ s poor that have been unserved too long. thank you very much and good morning. financial inclusion efforts of the group, icici website. bis central bankers ’ speeches

. absent such a positive experience, the financial consumer simply drifts to the shadows ( i. e., shadow banking ) or chooses to be financially excluded. i trust that no one in this room will find that to be an acceptable outcome. the national strategy for financial inclusion ( nsfi ) has been launched, and we now have to focus on its execution. i therefore look forward to your active participation in this endeavor. ladies and gentlemen, the work of financial inclusion is enormous. if we pursue this individually, we are likely to only hardly make a dent. but collectively, and forming a critical mass, who knows where our efforts will take us? we could just very simply turn out to be unstoppable! thank you for your attention. good morning. bis central bankers ’ speeches
have been mixed. while job growth has certainly been firm, both wages and unit labour costs have grown only slowly. the data suggest that material slack remains in the canadian labour market, in contrast with the us labour market, which is close to full employment. at the same time, canadian exports and business spending are still weaker than you would expect to see at this stage of the business cycle. companies are telling us that while they plan to raise spending, the planned increases are modest, or tied to maintenance, rather than expansion. in short, the economy is not yet firing on all cylinders. in addition, canadian companies are dealing with heightened levels of uncertainty related to us tax and trade policies. we still do not know what tax changes are coming, or when. and the range of potential trade measures under discussion is even wider now than it was in january. it includes a border - adjustment tax, increased tariffs aimed at specific industries or countries, nontariff barriers and even broader, multilateral measures. we do not know which of these will be enacted ; their timing is uncertain ; and each would affect the global and canadian economies 1 / 2 bis central bankers'speeches through a different, complex set of channels. with all of this uncertainty, we cannot reliably model the impact of changes to us trade policy. instead, we have built in an extra degree of caution in our forecast for exports and investment relative to our january projection. total inflation has been close to 2 per cent and is expected to dip to about 1. 7 per cent in the middle of the year before returning to near its target. however, our core inflation measures are all in the lower half of the target band and have been trending downward. this supports the view that the economy continues to have significant excess capacity. our current base - case forecast calls for the canadian economy to absorb its excess capacity sometime in the first half of 2018, which is a bit sooner than we projected three months ago. we are certainly happy to see the recent strength in the economic data and want to see more of it in order to be confident that growth is on a solid footing. we judge that the economy still has material room to grow. and we remain mindful that significant uncertainty continues to weigh on the outlook. given all of this, we judged that the current stance of monetary policy is still appropriate and maintained the target for the overnight rate at 1 / 2 per cent. with that, mr. chairman, senior deputy wilkins and i would be

happy to answer questions. 2 / 2 bis central bankers'speeches
and downs of the global economy. thus, suggestions have been voiced to adapt the german “ business model ” and reduce reliance on exports. however, these arguments neglect the fact that germany is not a company with a business model that management can change at will. in the end, it is the decisions of thousands of individual companies that determine the structure of an economy. in any case, i have doubts that turning away from global markets would strengthen the german economy. facing global competition ensures that german companies keep up with technological progress and retain their high productivity. this might come at the price of higher volatility, but to me this seems like a price worth paying. having said that, the german economy would certainly profit from strengthening competition in the domestic market as well. take the services sector as an example. for the last bis central bankers ’ speeches 20 years, total factor productivity growth in services has been markedly lower than in manufacturing. in fact, while total factor productivity in manufacturing has grown by more than 30 %, growth in services has barely budged. what is behind this phenomenon? the data point to a higher degree of competition in the manufacturing sector following the launch of the common market : mark - ups, an indicator of the pricing power of firms, have gone down since then. by contrast, mark - ups on services have stayed high in germany, higher even than in many other european countries. thus, there is room to improve the functioning of the services sector by promoting competition : opening up closed professions, cutting red tape, and improving financing conditions for nascent digital firms would be options to achieve this objective. but still, over the last two years or so, domestic drivers of growth have strengthened in germany. this is certainly good news, as the basis for growth has become broader. the good shape of the german economy is also reflected in more recent developments. last year, the economy regained momentum after a brief dip in late 2012 and early 2013. and in the first quarter of this year, the economy grew by 0. 8 %, while the euro area as a whole grew by 0. 2 %. however, the strong growth in the first quarter was boosted by favourable weather conditions. consequently, we expect growth to be weaker in the second quarter. overall, the german economy is back within the normal range of capacity utilisation. against this backdrop, what can we expect from the future? well, the internal drivers of growth i mentioned will remain in place while foreign demand is likely to pick

future, determined macroprudential policy will be implemented in germany and that the bundesbank will be given a significant role fulfilling this mandate. the five principles of better regulation will be important guidelines in this regard. today, by attending this icfr conference, i hope i can at least comply with the principle of being transparent. the exchange of views between regulators and markets has to be continued. thank you very much for your attention. bis central bankers ’ speeches
of the current crisis, which emerged in 2010, clearly demonstrated the importance of sound economic and financial policy, as confidence in a state ’ s solvency also plays a substantial role in securing financial stability. for the time being, the euro area has the necessary measures to deal with the debt crisis at its disposal. i hope that this speech has highlighted the clear necessity of a swift and ambitious budgetary consolidation in order to restore confidence in public finances, strengthening the stability and growth pact in order to prevent states from manoeuvring into destabilising situations that can cause a crisis, a surveillance and early warning mechanism in order to have the ability to take counter measures at an early stage if necessary, bis central bankers ’ speeches a crisis resolution mechanism that permits the euro area to deal with a country in crisis without undermining the no - bail - out principle and hence the incentives for responsible, stability - oriented fiscal policies, and the necessity of implementing a national “ debt brake ” to keep budgets in balance once they are consolidated. the crisis has painfully demonstrated several weaknesses in the regulatory system and imperfections in our economic and fiscal policies. if we manage to improve the regulatory framework for the financial system and maintain well - disciplined government budgets, we will be in a good position to ensure financial stability in the future. this is the important task we must address in 2011. ladies and gentlemen, europe is more than just economy and currency. based on its tradition, culture and diversity, europe is currently on its way to a new unity. we are all called on to help achieve this goal. there are many problems lying ahead of us. however, with courage, openness and honesty we can overcome these problems. i wish you personally health and happiness for 2011 and i wish europe, in particular, continuing success. it is worth working for. thank you very much for your attention. bis central bankers ’ speeches

times. as technologies advance and digital forms of money increasingly enter the field, policymakers will not be able to remain “ on the sidelines ”. there are two sides to every coin, after all. on that note, i would like to wish you all a very pleasant and interesting evening. you still have to decide between an excellent red and an equally excellent white wine. the choice is yours. perhaps a coin toss will help. thank you. 1 deutsche bundesbank ( 2018 ), payment behaviour in germany in 2017 – fourth study of the utilisation of cash and cashless payment instruments. 2 ibid. 3 / 4 bis central bankers'speeches 3 deutsche bundesbank ( 2019 ), the cost of payment methods in the retail sector, monthly report, june 2019, pp. 65 – 79. 4 / 4 bis central bankers'speeches
to the future prosperity of australians. so, again, it is important that time be taken to get the details right. i will finish there. my colleagues and i look forward to answering your questions. thank you. 5 / 5 bis - central bankers'speeches

##s on the securities that it purchases under repo. this is relative to the banks'final estimates of net cash outflows under the lcr stress scenario using data on their balance sheet position as at the end of the relevant year. this compares to the clf banks'annual operating income of around $ 100 billion. bulletin, september, © reserve bank of australia, 2001 – 2019. all rights reserved. the reserve bank of australia acknowledges the aboriginal and torres strait islander peoples of australia as the traditional custodians of this land, and recognises their continuing connection to country. we pay our respects to their elders, past, present and emerging.
. the strong interest shown by small enterpreneurs in the downscaling program by fincorp is an indication of the available demand for such financial services that has been lacking in the rural areas of png. it reflects the need for financial empowerment to improve living standards and contribute to the development of our country. the bank of png is in a process of establishing a legal framework for the microfinance industry and will soon announce broad guidelines on the licensing requirements for microfinance institutions or microbanks. it is our intention that we will exit from our involvement in the development phase of the sector and concentrate on our core role as supervisor & regulator of the financial system. the bank welcomes and fully supports initiatives such as this, we are witnessing. however at the same time, the bank expects all licensed financial institutions to fully comply with the regulatory and prudential requirements of the bank under various legislations by which it is empowered, so as to ensure protection of public funds and stability of the financial system. for these reasons, we continue to enforce good governance in both the board and management level, through the “ fit & proper ” tests for those involved. the bank has taken actions on some licensed institutions found to be violating the provisions of these acts or the prudential standards and directives of the bank, and will not shy away from pursuing such actions in future. the development and deepening of this financial sector will provide support for the bank ’ s ongoing fight against money schemes, which has eaten up a significant portion of the innocent savers hardearned incomes. the bank of png has taken out various public notices and educational campaigns and will continue to do so to create public awareness that such schemes are not legitimate and are illegal, because they are not licensed by the bank to conduct banking business, mainly taking deposits from the public. we have few cases of these schemes before the court, and are confident that their operations will cease as we continue to expose their illegal activities to the public. this is much the bank of png can do to educate the public, but the onus is on the public to ensure their savings are placed with licensed financial institution where their safety is guaranteed. microfinance is for the “ grassroots ”. it is their hope of making a change in their lives and contributing meaningfully to the development of png. it requires hard work, dedication and commitment to success. it also demands patience because the accumulation of surplus or profit takes time given that the

/ regulated institution ’ s management and relevant employees are aware of all applicable laws and regulations. the code of conduct should contain specific and appropriate consequences that would serve to deter wrongdoing and unacceptable business practices, and promote accountability amongst employees and others to the code. let me conclude by saying that the achievement of good corporate governance will ultimately be the result of cooperative efforts between regulators, internal audits and parties subject to such regulation. thank you.
advise the banking institutions to follow selfregulation and ethical banking. this becomes inevitable when we have growing usage of technologies, increasing size of business, and growing banking presence ; therefore regulators cannot and should not oversee every activity. the banking community needs to be competitive and focus on sustaining the business in the long run. distinguished participants, ladies and gentlemen finally, i wish a grand success of this two - day event, both the conference and the agm. i hope that the discussion on the key banking issues for asia will provide key insights to every actor of the banking community, such as regulators, bankers and the government in promoting financial resilience but also equally supporting economic growth. i have seen the program schedule and am therefore confident that this forum will provide a way forward to address banking issues and challenges, which are emerging in asia in general as well as in a small open economy like nepal. i again would like to reiterate that the nrb is committed to maintaining financial stability along with macroeconomic stability while also supporting for a sustained economic growth. last but not least, i request all the foreign delegates to enjoy nepal's food, culture and beautiful nature. i wish you a pleasant stay and a safe journey back home. 3 / 4 bis - central bankers'speeches thank you very much! 1 https : / / www. undp. org / nepal / inclusive - economic - growth # : ~ : text = overview, economic % 20growth % 20in % 20last % 20decade. 2 https : / / nsonepal. gov. np / en / detail / post / 7325 3 https : / / www. mof. gov. np / uploads / document / file / 1674635120 _ economic _ survey _ 2022. pdf ( page 7 ) 4 / 4 bis - central bankers'speeches

over the last three decades for the rural economies of this region, have been, to some extent, positively influenced by cictab. in this scenario, cictab has become very prominent for us as it conducts various training programs with special focus on cooperatives and rural development by providing a common platform to the agricultural and rural development institutions of its member countries. nepal rastra bank, as a member of cictab, would like to assure the centre that it will continue to support the centre ’ s objective of providing a common platform to the agricultural and rural development institutions of its member countries by imparting comprehensive and top quality training, seminars and workshops. ladies and gentlemen, looking over the program schedule i am happy to note that many topical and interesting issues are covered. i am confident that there will be a most active participation and exchange of ideas from the participants over the next five days, which will contribute positively to their respective institutions development. i also hope that all the participants, especially our foreign guests, will also have time to enjoy both the beauty and the flavor of nepalese culture. thank you very much and my best wishes for the successful conclusion of this program!
several years we have tried to design flexible, principles - based standards that foster greater resilience in the banking sector while allowing for continued innovation on the part of banks. looking at the pace of innovation in financial markets, the changing role of banks and the more globally interlinked banking industry, we must continue to respond in kind. going forward, i expect the committee will continue moving full speed ahead with basel ii implementation, assessing the impact of basel ii, and maintaining a sense of proportionality so as not to overly burden the industry and ourselves. moreover, while we will probably continue to issue supervisory guidance as necessary in the future, we will also focus on some of the “ basics ” such as cross - border information sharing, understanding bank risk management practices and supervisory techniques, cross - sector coordination, and dialogue with the industry and among bank supervisors. in adapting to a changing world, we must not lose sight of the basic supervisory tools that have served us so well over the years. we should continue to encourage the development of sophisticated tools for better risk management, but we should also continue to emphasise simple but vitally important concepts such as sound corporate governance. we should strive to understand the increasingly complex quantitative models that banks increasingly rely upon, but not lose sight of the importance of sound judgment on the part of bankers as well as supervisors. i hope that you find the next several days in merida enlightening, challenging, energising and even, dare i say, fun. thank you very much, and i look forward to exchanging views not just during this icbs, but over the coming years as well.

of understanding for the development of a wind farm in curacao that our climate minister rob jetten signed here last may. may much more collaboration follow! because the path towards a sustainable future goes'paso pa paso, dia pa dia'( step by step, day by day ), as you say here. central banks can help you take these steps. we can help to shape the transition to sustainable economic development. we can help ensure that sustainable choices are not only made, but also successfully encouraged and implemented. as supervisors, for example, we help the financial sector to identify sustainability risks and encourage institutions to take action where necessary. we are committed to making payment transactions more sustainable, including when it comes to the paper and printing 3 / 4 bis - central bankers'speeches process for the money we issue. and we have an important role and position as an advisor to politicians and the government, for instance in the debate about a sustainable economy and the energy transition. in short : we are part of the team that will bring about a sustainable future. as are you. let's take this opportunity to share thoughts and ideas about the way forward. i know you have a proverb that would be a nice motto for our team :'son'e, dese'e, logr'e'( dream it, wish it, achieve it ) 4 / 4 bis - central bankers'speeches