samchain/econo-pairs-v2 huggingface dataset:
end of it all, these requirements and their derivative innovations are driven more not by the regulator like cbk, but the market niche the bank or any other firm in business is operating in. the more we understand our market niches, the more we perform better and above all adhere to the rules of the game. market niches provide a drive to innovativeness. i should now end my talk. it has been a pleasure to share with you a regulator ’ s view on compliance with ifrs. i hope my remarks and observations have been useful. we are travelling on an important and challenging path towards achieving a robust and resilient financial system, and steady progress is being made. indeed, this progress is usually noticeable in times of economic vibrancy. you, as a key stakeholder, are also an important part of this journey. it is a great honour and privilege for me to declare the financial reporting workshop for the banking sector officially opened and to thank ernst and young for organizing such a workshop. thank you very much.

##s guide. this is indeed, in line with imf ’ s and mefmi ’ s mandate of imparting hands - on skills. i therefore, expect the course to bring together information on key statistical activities currently undertaken by the statistical organizations in our respective countries and to identify what more can be done to further improve the quality and timely availability of statistics in this area. may i urge you all to make the most out of this rare opportunity so that when you return to your respective institutions, you can take the lead in ensuring that our region benefits fully from this invaluable initiative. this, however, can only be realized through individual commitment, free exchange of ideas, sharing of experiences and a good sense of openmindedness among all participants. it is also my hope that strong networking links will emerge out of this course to foster a longrun exchange of ideas and experiences among professionals in the region. once we have the correct classification of data, then we can open another chapter of how to use it in policy making. this will also inform us on how to target the diaspora to channel investments in specific areas – like diaspora bonds. as i conclude, i appeal to you to take some time out of your densely packed schedule to enjoy the hospitality of nairobi. freely explore the boundless beauty of our country, sample local cuisine and explore the attractive tourism products on offer. it is now my singular honour to declare this course officially open, and i wish you fruitful discussions and a memorable stay in nairobi. i thank you all for your attention. bis central bankers ’ speeches
you like the new banknote series as much as i do. now that all the notes are here, people can choose their own favourite. before i finish, i would like to take this opportunity to page 2 / 3 berne, 3 september 2019 fritz zurbrugg news conference on new banknotes express our heartfelt thanks to manuela pfrunder and her team, and to congratulate them on a tour de force in designing the series. and with that, i will hand you over to our chairman, thomas jordan, who will look back over the project and the challenges it presented, both for the snb and for our partners. page 3 / 3

the image of a suone symbolises the treatment and distribution of water – a major component of switzerland ’ s humanitarian and development aid effort. the key motif also plays an important role on the security strip, which features a network of waterways over the map of switzerland, together with a list of the country ’ s longest rivers. the remaining security features, such as the transparent swiss cross or the shimmering globe, are the same as those on all denominations of the new series – you will already be familiar with these. as with the other denominations, we are once again providing information in print and online, and we have of course updated our ‘ swiss banknotes ’ app. the new 100 - franc note will be issued starting next thursday, 12 september 2019, at our counters in berne and zurich and at the snb ’ s agencies. for logistical reasons, it will take a few days before the new notes are available country - wide. and now, having unveiled the new 100 - franc note, i ’ d like to show you the entire set. here it is : the complete ninth series, inspired by ‘ the many facets of switzerland ’. the vibrant colours and the aesthetically pleasing and intricate design of the series are particularly striking. switzerland ’ s many facets are showcased using core design elements such as the hand, the globe, a swiss location and an object, which are easily recognisable and recur throughout the banknote series. the theme of each note is illustrated via a hand gesture. on the 50 - franc note, the hand is holding a dandelion, whose seeds are carried away on the wind. on the 10 - franc note, a conductor ’ s hand sets the tempo for the orchestra. the shimmering globe reflects how switzerland sees itself as part of an interconnected world. in the sequence of notes from 1000 francs to 10 francs, the earth rotates once on its axis and passes through one full day. the places depicted on the back of the notes are emblematic of various locations in switzerland. together, the six notes illustrate the diversity of our country. the object depicted is linked to each note ’ s key motif. on the 20 - franc note, the object is a butterfly, and on the 200 - franc, a particle collision. the key motifs of the six notes are time, light, wind, water, matter and language. as i mentioned earlier, the security features are the same for all denominations. i hope
national bank's interest rate decision of december 2004. even though switzerland is particularly affected by the lacklustre performance of the european economy, overall prospects are not gloomy. growth in the rest of the world remains dynamic, and this is expected to benefit europe in due course. for switzerland, a growth rate of 1. 5 - 2 % is still realistic. with the swiss economy thus continuing to grow below its potential, the labour market will not see any sustained improvement.

of it was sold more than a decade ago. so in principle, if this were ever the aim of policy makers, there ’ d seem to be quite a bit of scope to spring “ surprise ” inflations ( a surprise in the sense that it wasn ’ t foreseen when the bonds were originally sold ) and reduce the real value of existing debt without any compensating rise in coupon payments. however, as we ’ ll see, you need relatively sizeable increases in inflation to make much of an impression on the debt. though the dynamics are extremely drawn out, the effect is ultimately temporary, as even longterm debt needs eventually to be refinanced12. and central bank asset purchases have made it harder : because it reduces the maturity of its interest - bearing liabilities, qe actually makes the public sector ’ s consolidated balance sheet less susceptible to any given rise in inflation. note that this relies critically on trend gdp growth ( let ’ s call it g ) being higher than the risk - free real interest rate ( r ). over time, and as long as inflation is on average in line with prior expectations, the change in the ratio of debt to gdp ( b ) is given by ( r – g ) b – d, where d is the primary deficit. this is stable – for given d it tends over time to revert to a steady state level ( b * = ( g - r ) / d ) – only if the term multiplying b is negative, i. e. g > r. with risk - free real interest rates comfortably below zero in developed economies this condition seems to be fulfilled at the moment, though that ’ s not always been the case. when r > g the debt ratio is no longer stable – unless d changes accordingly, small changes in r or g would put b on an unstable path. for more on the implications of g > r see blanchard ( 2019 ) and mehrotra and sergeyev ( 2019 ). all speeches are available online at www. bankofengland. co. uk / news / speeches and @ boe _ pressoffice the blue line in chart 8 depicts the results of a stylised experiment in which inflation rises permanently, and without any warning, by 1 chart 8 : surprise inflations can reduce public sector debt though when g > r the effect is ultimately temporary percentage point ( from 2 % to 3 % ). there ’ s a corresponding rise in inflation expectations
hazard and the subsidy implicit in the federal safety net. i have spent a good deal of time of late on the fourth objective. therefore, today i will concentrate on the first three and how, in particular, financial reform must be careful to preserve the role of the state - chartered bank in meeting our economy ’ s macroeconomic objectives and our concerns regarding systemic risk. the importance of the state - chartered bank some erroneously dismiss state - chartered banks as representing only the down - scale end of the banking market and, therefore, being not particularly worthy of careful policy consideration. state - chartered banks indeed are smaller on average than national banks, and are disproportionately represented within the very smallest size class. nevertheless, state - chartered banks account for about a third of our superregionals, not to mention a few state banks that are among the very largest money center institutions. even the preponderance of small, state - chartered banks, however, play a critical role within our financial system, for several reasons. first, having large numbers of community - sized banks, be they state - chartered or national banks, is a major contribution to the stability of the banking system and the well - being of the macroeconomy. just as a more highly diversified loan portfolio reduces risk to the individual bank, a more highly diversified banking structure reduces risk to the banking system as a whole. indeed, our decentralized and diverse banking structure was arguably the key to weathering the financial crisis of the late 1980s. during those dark days, our system was able to absorb more than a thousand u. s. bank failures. and yet here we are, less than a decade later, with loan loss reserves and bank capital at their highest levels in almost a half century, and the insurance fund restored to its maximum coverage ratio - - all without cost to the taxpayer. of course, the bank failures of the past decade, combined with the current wave of mergers and acquisitions, have served to reduce significantly the total number of banking organizations in the u. s. but the more than 7, 000 separate banking companies that remain are more than sufficient to maintain our highly decentralized and flexible banking structure. large numbers of small banks go hand in hand with a macroeconomy characterized by large numbers of small, entrepreneurial nonfinancial businesses. smaller banks traditionally have been a major source of capital for small businesses that may not have access to securities markets. in turn, small businesses account for the

not subject to needlessly differing treatment.
a way that would enhance an organisation ’ s ability to reinvent itself as circumstances change, and achieve wider options for recovery in a business disruption scenario. at its most basic level, building resilience is about helping organisations better understand their operational and financial interdependencies and how this can affect their ability to recover and respond to disruption and change. this not only assures an organisation ’ s own survival, but enhances its prospects for creating value. development priorities for insurance and takaful in speaking on innovative risk management, i would be remiss not to touch on the bank ’ s development priorities in the malaysian insurance and takaful sector to support risk management by businesses. let me mention some of the ongoing initiatives that are relevant to those in this 4 / 5 bis central bankers'speeches room today : · we are raising professional standards for insurance brokers to improve the quality of advice and risk information provided to risk and insurance managers ; · we are reviewing existing industry arrangements to further develop domestic underwriting capacity for large and specialised risks ; · we are progressing a review of capital requirements to further strengthen the resilience of insurers and takaful operators to support more complex and diverse risks ; and · we will continue to facilitate access to the domestic insurance market by strong global insurers that can bring new and innovative risk solutions to meet the needs of malaysian businesses and reduce insurance outflows. of note, payments abroad for insurance and reinsurance services, largely by corporates, grew significantly by 45 % since 2010 to reach rm10. 2 billion in 2017. as our needs increase, it is imperative that efforts be intensified to optimise onshore insurance capacity. risk and insurance managers play an important role in supporting broader efforts to develop domestic insurance capacity. more can and must be done to improve the quality of risk information and work collectively with brokers and onshore insurers – both malaysian and foreign – to develop costefficient and innovative solutions that are tailored to business needs. this will go a long way to build domestic capacity while contributing to a stronger domestic economy. in closing, i am reminded of the famous italian poet, pietro metastasio, who said this of risks : “ every noble acquisition is attended with its risks ; he who fears to encounter the one must not expect to obtain the other ”. i cannot think of a better reason for advancing innovative approaches to risk management that will provide the confidence and economic freedom for businesses to grow and

evolve. on that note, let me once again thank marim for the opportunity to share some thoughts with you today and i wish you a productive conference ahead. 5 / 5 bis central bankers'speeches
12 / 6 / 2018 lessons and questions from the gfc | speeches | rba speech lessons and questions from the gfc guy debelle [ * ] deputy governor address to the australian business economists annual dinner sydney – 6 december 2018 it is now just over 10 years since the date that people most associate with the global financial crisis ( gfc ), namely 15 september, the day that lehman brothers filed for bankruptcy. [ 1 ] there have been quite a number of articles written in recent months looking back at that time and the period leading up to it. [ 2 ] it is interesting to read the differing perspectives on the same set of events, especially those that recount events that i had a ringside seat at, or was even in the ring itself. as i have said recently, it's a bit like the standard line about the sixties, those who can remember the gfc probably weren't there. the sleep - deprived haze that was pervasive at the time affects the memory. critical decisions were made under extreme duress and fatigue, particularly in the us, which by and large stack up well with the passage of time. today i am not going to give another detailed account of what happened. i will talk about some of the events, but the main thing i intend to do is to talk about some of the lessons learned and relearned from the crisis. this list of lessons is by no means comprehensive. i will also discuss some questions that arise from the crisis that remain unresolved, at least in my mind. they are questions which i think should be a focus of the economics profession. answering them will help guide policymakers should they be faced with similar situations to the one we confronted in 2008. i am going to talk about both macro and finance today. some events can be seen through mostly a macro lens with finance playing a lesser role ( the seventies in australia is an example ), some events can be seen with the spotlight on finance with macro as a sideshow ( e. g., the dotcom bubble ). i don't think it is possible to look at the gfc and talk about one without the other. it is clearly important to integrate finance into macroeconomic analysis. indeed, the failure to do that is a criticism that is often levelled at central banks and the macroeconomic profession in the aftermath of the crisis. i think this criticism is overstated. one obvious counter example is the work https : / / www. rb

’ s make use of the architecture for international cooperation that we have built up. and ensure the post - pandemic financial system is resilient, and stays strong enough to meet future challenges. thank you. 4 / 4 bis central bankers'speeches
like myself to realize that the times, and challenges, that we face are different from the ones that mr. willson wrote about back in 1974. thanks again for coming tonight. and now let ’ s turn to your questions. bis central bankers ’ speeches

monetary policy must work in concert to reduce the impact of a decline in labor demand ; neither can do it alone. returning to the question posed at the beginning, this model suggests that the federal reserve is performing about as well as it can on both mandates. the federal reserve ’ s accommodative policy has offset much of the impact of product demand shocks and so has kept inflation near target. however, this policy has been unable to offset the large adverse shocks to labor demand. the model implies that, in terms of employment, there are limits to what monetary policy can achieve on its own. bis central bankers ’ speeches
economic activity to the extent expected earlier. taking the recent developments into account, japan ’ s economy is expected to return to the moderate recovery path in the second half of fiscal 2011 onward amid the continued improvement in overseas economies. in the outlook the bank released last week, japan ’ s economic growth will stay at a low rate of 0. 4 percent in fiscal 2011 due to the effects of the plunge after the earthquake, but is forecasted to accelerate to 2. 9 percent in fiscal 2012. inflation is expected to remain slightly positive now, let me turn to prices. the year - on - year rate of change in the typical price indicator, the consumer price index ( cpi ), had been negative since shortly after the lehman shock. as the effects of the shock subsided, the degree of negative had become gradually small, and the rate of change turned positive for the first time in 28 months in april and registered plus 0. 6 percent in may. since the economy is expected to return to the moderate recovery path, the year - on - year rate of change in the cpi is also expected to remain slightly positive. more specifically, the outlook the bank released last week forecasted a rise of 0. 7 percent for both fiscal 2011 and 2012. bis central bankers ’ speeches b. uncertainties associated with future economic activity and prices overseas financial and economic developments require caution i emphasize that the outlook for economic activity and prices that i have mentioned is associated with various uncertainties. after the earthquake up to now, there has been high uncertainty concerning what extent the supply chain will recover promptly. such risk has, as i mentioned earlier, been subsided considerably. rather, from now on, economic activity will depend on whether demand itself continues to increase steadily. in that regard, consumer sentiment, which recovered considerably compared with that immediately after the earthquake, has yet to recover completely. in addition, the most important assumption for japan ’ s economic recovery is a mechanism that overseas economies, particularly emerging economies, will continue to grow at a high rate, under which japan ’ s exports increase and positive effects spread to business fixed investment and employment. however, as i have mentioned earlier in detail, the outlook for the united states, europe, and emerging economies is associated with high uncertainty. increasingly uncertain power situation in the domestic area, uncertainty has rather increased about the somewhat longer term electricity supply beyond this summer. that is because nuclear power plants across japan are not resuming operation smoothly after their regular inspections. even if nuclear power is to be substituted

if we take an optimistic look at the future, our steady efforts may result in the formation of an open, flexible and surprisingly well - organized regional economic zone within the context of “ future globalization of complexity ”.
“ policy proposals to enhance money market fund resilience – final report ”, october. 8 basel committee on banking supervision, committee on payments and market infrastructures and board of the international organization of securities commissions ( 2021 ), “ consultative report : review of margining practices ”, october. 3 / 3 bis central bankers'speeches

mario draghi : g20 priorities under the russian presidency speech by mr mario draghi, president of the european central bank, at the g20 ministers and central bank governors ’ meeting, moscow, 15 february 2013. * * * dear president putin, ladies and gentlemen, first, on behalf of all my g20 colleagues, i would like to thank you, president putin, for hosting us today in moscow and in the kremlin this afternoon. i feel honoured to be able to speak here on behalf of my colleagues. the main objective set out by russia when it assumed its g20 presidency for this year was to “ stimulate economic growth and create jobs ”. as premier forum for international economic cooperation, the g20 indeed plays a central role in supporting policies aimed at strong, sustainable and balanced growth globally. the overall g20 agenda, proposed by russia for this year, spans much wider, and is fully in line with the original mandate of the g20 to cover both financial stability as well as longer - term growth - related issues. as president putin has just outlined, we have a lot of hard work ahead of us. i am looking forward to making progress in all of the areas earmarked. at today ’ s and tomorrow ’ s meeting of g20 ministers and governors we will have a fruitful exchange of views on the global economy, on the progress in our financial regulatory reform agenda, on further reforms of the international financial architecture, and on investment financing, among other things. these are all issues which the russian presidency has given due importance as they address key questions currently occupying economic policy makers all over the globe : how can we create jobs? how can we get back to strong, sustainable and balanced growth? how can we progress on financial regulation, so as to further strengthen our financial systems? what are the further steps to complete our international financial architecture to support stability and growth? and how can long - term investment financing be better geared towards delivering long - term global growth, development and job creation? the first three issues – the agendas for growth, financial regulation and financial architecture – have been occupying us ever since the global crisis emerged and g20 leaders met in november 2008. the russian presidency has given special attention to the fourth issue, long - term investment financing for growth and development. and rightly so in my view, considering the key role played by investment not only in increasing output in the short term, but also boosting potential output over the medium term. policy actions,