samchain/econo-pairs-v2 huggingface dataset:
25. bluedorn, john, rupa duttagupta, jaime guajardo, and petia topalova ( 2013 ). “ capital flows are fickle : anytime, anywhere ( pdf ) ”, imf working paper wp / 13 / 183. washington : international monetary fund, august. broner, fernando, tatiana didier, aitor erce, and sergio l. schmukler ( 2013 ). “ gross capital flows : dynamics and crises ”, journal of monetary economics, vol. 60 ( january ), pp. 113 – 33. bruno, valentina, and hyun song shin ( 2013 ). “ capital flows and the risk - taking channel of monetary policy ( pdf ) ”, nber working paper series 18942. cambridge, mass. : national bureau of economic research, april. calvo, guillermo a., leonardo leiderman, and carmen m. reinhart ( 1993 ). “ capital inflows and real exchange rate appreciation in latin america ”, imf staff papers, vol. 40 ( 1 ), pp. 108 – 51. - - - - - - ( 1996 ). “ inflows of capital to developing countries in the 1990s ”, journal of economic perspectives, vol. 10 ( spring ), pp. 123 – 39. chen, qianying, andrew filardo, dong he, and feng zhu ( 2012 ). “ international spillovers of central bank balance sheet policies ( pdf ) ”, bis papers no. 66. basel, switzerland : bank for international settlements, october. chuhan, punam, stijn claessens, and nlandu mamingi ( 1998 ). “ equity and bond flows to latin america and asia : the role of global and country factors ”, journal of development economics, vol. 55 ( april ), pp. 439 – 63. eichengreen, barry ( 2013 ). “ does the federal reserve care about the rest of the world? ( pdf ) ” nber working paper no. 19405. cambridge, mass. : national bureau of economic research, september. fernandez - arias, eduardo ( 1996 ). “ the new wave of private capital inflows : push or pull? ” journal of development economics, vol. 48 ( march ), pp. 389 – 418. forbes, kristin j., and francis e. warnock, ( 2012 ). “ capital flow waves : surge

outlook remain, ” federal reserve bank of kansas city, february 14, 2019. 6 agricultural banks are defined as banks with farm production and farm real estate loans equal to 25 percent or more of total loans. 4 / 5 bis central bankers'speeches 7 see supervision and regulation sr letter 11 – 14, “ supervisory expectations for risk management of agriculture credit risk. ” 5 / 5 bis central bankers'speeches
to change the situation in spain it is crucial to make citizens and governments aware that there is a cost to restrictions on access to data by the research community, as they will eventually result in less effective public policies. i trust that discussions of the papers to be presented at the conference over the next two days will bring us up to speed with the most advanced practices across the globe. thank you very much and enjoy the sessions!

. you ’ ve been discussing this topic here in paris for two days now, but all of us have been thinking long and hard about the new basel accord for many years. that should come as no surprise, as capital requirements are the foundation of the regulatory framework. even more importantly, capital is a key ingredient to the health of the banking sector. but risk managers know that having adequate levels of capital does not ensure success - or even longterm survival. in calm seas, everyone is a pilot. only rough waters prove the skill of a ship ’ s crew. supervisors and risk managers know that a bank ’ s management and controls make up its first line of defence. the new basel accord seeks to capture the relationship between capital adequacy and risk management, a relationship that is quite apparent in its approach to operational risk. i ’ d like to take this opportunity to discuss the latest news on the new accord and some of my thoughts on the framework for operational risk. i ’ ll begin with the committee ’ s announcement from two weeks ago about plans for finishing the new accord. i ’ ll then share some thoughts on the treatment of operational risk and the committee ’ s motivation for adopting an explicit charge for it. given the interest that this proposal attracted, i ’ ll address three important themes raised in public comments that the committee is currently considering. during that discussion, i ’ ll offer some thoughts on what lies ahead, not just for bankers, but also for supervisors in conducting and coordinating supervision under the new basel accord. recent developments : the october press release first, to the most current news. by now you ’ ve no doubt read that the basel committee agreed two weeks ago on a plan to address the final issues raised in public consultations over the summer and to complete the new rules. this was no easy task, as the committee received over 200 comment letters from the industry and the broader public on the third consultative paper, or “ cp3 ”. while we might have been somewhat surprised by the number of responses that we received, we were not surprised by the hard work that was evident in the letters. the quality of the responses shows that many banks and industry associations understand the deep significance of the proposals. on this note, i would like to offer the committee ’ s appreciation to the rma - related working groups and others who devoted considerable time and resources during the consultations. you shared important views through comment letters, gathered data for impact studies, and engaged in discussions like the ones
caleb m fundanga : an appeal to the zambian microfinance industry to offer affordable financial services opening speech by dr caleb m fundanga, governor of the bank of zambia, at the 8th annual general meeting of the association of microfinance institutions of zambia, lusaka, 7 july 2006. * * * • the chairperson ; • senior government officials present ; • his excellencies, member of the diplomatic corps present ; • members of the association of microfinance institutions of zambia ( amiz ) ; • distinguished ladies and gentlemen it gives me great pleasure and gratitude to be amongst you this afternoon to officiate at the 8th annual general meeting of the association of microfinance institutions in zambia. mr chairperson, as you are aware, micro - lenders are credit providers to people with limited or no access to traditional credit sources. it follows therefore that the primary impact of microfinance in zambia has been the broadening of access to formalised financial services particularly to many people both in urban and peri - urban areas. the microfinance sector in zambia has grown rapidly in recent years in terms of the number of service providers as well as outreach which is currently estimated at over 60, 000 persons. ladies and gentlemen, in recognition of the need to provide a conducive regulatory environment which promotes sustainability, accountability and transparency in the conduct of micro finance business, the bank of zambia, in consultation with other key stakeholders in the microfinance sector, introduced the banking and financial services ( microfinance regulations ) of 2006 which came into force on 31 january 2006. while the regulations may be focusing on deposit taking microfinance institutions and relatively large non - deposit taking microfinance institutions, it is envisaged that several other smaller players in the industry will continue to be regulated under the cooperative societies act and the money lenders act. the bank of zambia will be holding a workshop for microfinance institutions and other stakeholders during the second half of 2006 to highlight the salient features of these regulations and the importance of operating microfinance institutions to properly register their businesses. ladies and gentlemen, we are aware that lending of small sums of money to a large number of individuals maybe costly, and this may compel microfinance institutions to charge high lending interest rates than commercial banks and other financial institutions. however, it is also important to note that high lending interest rates can lead to high levels of delinquency. it is in this regard that the bank of zambia

##z officially opened. thank you and god bless you.
as we make judgments and decisions.

proposal intriguing, and we will continue to study its potential usefulness. market discipline is reinforced by enhanced public disclosure of risk positions and risk - management capabilities. we have recently assessed the adequacy of disclosure and believe there are opportunities for banks – especially the large, complex banking organizations with a large share of their assets funded by uninsured liabilities – to reveal more information. one possibility would be to have an industry - led task force identify best - practice with respect to bank disclosure and provide banks with an incentive to move towards this best practice frontier. any such effort should be flexible, not necessarily dictating the same disclosures for all banks but allowing banks to choose the most effective ways to disclose – through both qualitative and quantitative information. in our supervisory practices and regulatory standards we draw a distinction between the largest and most complex banking organizations ( what we refer to as lcbos ) and the overwhelming majority of small and medium - sized banks. for example, while i applaud the direction in the basel consultative paper towards a more sophisticated and more risk sensitive minimum capital standard, i do not believe this more complex system is warranted or appropriate for the overwhelming majority of us banks. we are therefore thinking about what the banking agencies are calling bifurcation, using a simpler capital standard for the thousands of smaller and medium - sized banks as we adjust our capital requirements for the large complex organizations to better fit their risk profiles. we already have different intensities of supervisory oversight at large complex banks and at small and medium - sized banks, and have singled out a very small number of the largest and most complex banks for a program that features an enhanced focus on risk management and internal controls, the use of internal credit - rating systems, and internal analyses of capital in relation to risk. this trend will continue. let me close with a comment about a possible relaxation in credit discipline that our supervisory reviews have detected at some banks. now, don ’ t mistake me ; loan portfolios remain sound overall. but loans falling into criticized categories have been rising modestly at some banks over the past several quarters. that ’ s troubling because the increase has surfaced despite the continuation of favorable economic and financial conditions in the united states. it appears the vulnerability of these loans was heightened in some cases by weak underwriting practices. in these cases, a recurring theme has emerged. lenders are relying too much on the continuation of good times. they ’ re assuming a very optimistic view of their borrow
. at the same time, activities like reforestation, mangrove restoration, and the early retirement of coal - fired power plants can potentially generate good carbon credits. we will showcase efforts by singapore to work with global stakeholders to foster a sound and vibrant voluntary carbon credit market in asia. this pavilion is a result of the close partnerships among singapore businesses, ngos, academics, civil society groups, and the government. please also join me in expressing appreciation to the organising team. i wish you a fruitful time at the singapore pavilion and at cop27. 3 / 3 bis - central bankers'speeches

ravi menon : singapore as convenor, catalyst and contributor for climate action speech by mr ravi menon, managing director of the monetary authority of singapore, at the launch of the cop - 27 singapore pavilion, sharm el - sheikh, 6 november 2022. * * * ladies and gentlemen, good evening. welcome to the launch of the singapore pavilion at cop27. as we gather in beautiful sharm el - sheikh, let us remind ourselves of the task before us : to reduce global greenhouse gas emissions to net zero by 2050 in an orderly and inclusive way. singapore is committed to the net - zero by 2050 target and has laid out our plans and strategies to get there. this pavilion is not just about singapore's plans to get to net - zero. after all, singapore's contribution to global emissions is just 0. 1 %. but as a global city, technology hub, and financial centre, we can play a larger role in the fight against climate change. singapore wants to be a convenor, a catalyst, and a contributor of solutions for global climate action. this is the broader purpose of this pavilion. as a convenor, we will bring together partners in industry, finance, academia, civil society and the government, to spark new ideas and forge new collaborations for effective climate action. as a catalyst, we will work with partners to step up the pace of transition in this critical decade, which will substantially determine whether the world gets to netzero by 2050. as a contributor, we will share with others the climate solutions that we have developed and may be of relevance to them. let me highlight three key themes at the singapore pavilion : decarbonisation technologies transition finance carbon markets first, innovating decarbonisation technologies. the transition to net - zero will require us to transform how we live and work. it will transform how we power our homes and offices, travel, grow our food, and construct our cities. as a densely populated metropolis in the tropics, singapore is a living lab to develop, testbed, and commercialise green solutions for urban living. let me highlight two areas. one, decarbonising land transport. 1 / 3 bis - central bankers'speeches in many cities, land transport accounts for a substantial portion of carbon emissions ; in singapore, it is about 15 %. the solution lies in electrifying transportation. this is why, from 2030, singapore will allow only registrations of cleaner - energy
and below its potential until mid - 2002. growth is likely to pick up perceptibly again only during the second half of 2002. consumption will remain robust and strengthen economic activity. the actual upswing, however, should be triggered by higher exports and these, in turn, will depend on improved economic conditions worldwide. with a slight time lag, capital spending is also expected to grow markedly again. as already stated, we still believe that real economic activity should increase by around 1 % in 2002. in 2003, growth should continue to approach its potential, thereby clearly exceeding this year's level. unemployment is unlikely to rise much more, and the production gap should gradually disappear in the course of the coming year. i shall now describe the development of inflation over the past few months and explain our new inflation forecast in more detail. the dotted green curve in the graph shows our inflation forecast of december 2001. at that time, we assumed that the three - month libor rate would remain stable at 1. 75 % and accordingly expected a slight general rise in inflation to approximately 1. 5 % by the end of 2004. the fluctuations in inflation predicted for 2002 reflect basis effects. last december's forecast was based on the assumption that the us economy and the european economy would stagnate until mid - 2002 and would then gradually return to their potential growth path. our forecast of december 2001 slightly overestimated the development of inflation for the first quarter 2002 and at the same time slightly underestimated inflation for the second quarter 2002. the deviation from the forecasting path is due mainly to the development of oil prices and the changed time of collecting data on clearance sales prices for clothing and shoes. year - on - year inflation, as measured by the national consumer price index, rose to 0. 6 % in the first quarter 2002 from 0. 4 % in the fourth quarter 2001. in april, inflation increased to 1. 1 %, while declining again in may to 0. 6 %. the distinct rise in april was largely due to yet again higher oil prices and higher prices for clothing and shoes. at 1. 6 %, the price pressure on domestic goods still clearly exceeds that on foreign goods. the dashed red curve in the graph shows our latest inflation forecast, while the table contains the corresponding average annual inflation. our new forecast rests on the assumption that after the surprisingly strong first quarter, growth in the us will be considerably weaker in the second quarter of this year. subsequently, however, the

must be supported by a strengthening of domestic competition in switzerland. the export industry will remain a key engine of growth in switzerland and an essential basis of our prosperity. the main ticks on the horizontal axis indicate the beginning of the first quarter of the respective year. the value for each quarter is recorded in the middle of the quarter. inflation forecast june 2002 with libor at 1, 25 % annual average inflation in % 1. 0 0. 9 1. 3 1. 6
age population. unfortunately, the current social security system has not proven a reliable vehicle for such saving. indeed, although the trust funds have been running annual surpluses since the mid - 1980s, one can credibly argue that they have served primarily to facilitate larger deficits in the rest of the budget and therefore have added little or nothing to national saving. the challenge of medicare is far more problematic than that associated with social security, mainly because of the large variance of possible outcomes mentioned earlier and the inadequacy of the current medical information base. some important efforts are under way to use information technology to improve the health - care system. if supported and promoted, these efforts could provide key insights into clinical best practices and substantially reduce administrative costs. and, with time, we should also gain valuable knowledge about the best approaches to restraining the growth of overall healthcare spending. crafting a budget strategy that meets the nation's longer - run needs will become more difficult the more we delay. the one certainty is that the resolution of the nation's unprecedented demographic challenge will require hard choices that will determine the future performance of the economy. no changes will be easy, as they all will involve setting priorities and, in the main, lowering claims on resources. it falls to our elected representatives to determine how best to address the competing claims on our limited resources. in doing so, they will need to consider not only the distributional effects of policy changes but also the broader economic effects on labor supply, retirement behavior, and private saving. in the end, the consequences for the u. s. economy of doing nothing could be severe. but the benefits of taking sound, timely action could extend many decades into the future.

manufacture various economic outcomes. fortunately, most policymakers have come to recognize that their role in building world - class economies is to help develop the infrastructure through which people communicate. we need to provide the public with the tools that allow them to judge value accurately and to see opportunities with the greatest clarity. economic policy, including monetary policy, has to be an integral part of the communications revolution that is sweeping the world. these are the policies appropriate for our era.
fund early recovery and reconstruction in affected areas. the members of the task force appeal to all of you to support this program. together, let us get this program going! marami pong salamat sa inyong lahat.

benjamin e diokno : trust - living through the pandemic speech by mr benjamin e diokno, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the trust officers association of the philippines'general membership meeting, 21 november 2021. * * * to the directors, officers, and members of the trust officers association of the philippines, guests, ladies and gentlemen, good afternoon! i welcome this opportunity to address the membership of the toap once again and touch base on developments since i last spoke at your general membership meeting in march of this year. it has now been more than 18 months since the pandemic reached philippine shores, and all of us – regulators, financial institutions, and clients alike – have learned to adapt to new ways of working, doing business, and living. economic performance things are looking up for the philippine economy. the country has just recorded two consecutive quarters of growth, following up the 12. 0 percent expansion registered in the second quarter of 2021 – the highest growth rate recorded since 1988 – with a 7. 1 percent expansion in gross domestic product in the third quarter. indeed, the third quarter growth surpassed expectations, leading to optimism for a more rapid return to pre - pandemic gdp levels. the economy remains on course to meet the government ’ s full year growth forecast, which is in the range of 4 to 5 percent inflation the bsp expects inflation to remain manageable. while headline inflation was at 4. 8 percent year - on - year in september, it decelerated to 4. 6 percent in october due to lower food inflation. while year - to - date average inflation stands at 4. 5 percent, above the target range of 2 to 4 percent, the latest outturn is in line with the bsp ’ s assessment that inflation will return to within the target range before year - end, then decline towards the midpoint over the next two years. this provides the bangko sentral with room to maintain its accommodative monetary policy stance and strongly support sustainable economic recovery. balance of payments the cumulative balance of payments position for 2021 stood at a deficit of us $ 665 million by end - september, reversing the surplus recorded in the same period last year. this can be largely attributed to the widening deficit in merchandise trade. the national government also saw its net foreign borrowings decrease. gross international reserves despite recording a month - on - month reduction,