samchain/econo-pairs-v2 huggingface dataset:
necessary to bring inflation back to our target. the banking system is sound and stable heading into 2023, lending support to domestic growth prospects. and, finally, our push for digitalization is going on very well and, of course, will clearly help not just the economy but most filipinos. thank you very much, and good day. 3 / 3 bis - central bankers'speeches

to services is inevitable. but it is apparent from the data we have that the frequency and duration of retail payments outages have risen sharply in recent years. in response, the rba has begun working with apra and the industry to enhance the data on retail payment service outages and to introduce a suitable disclosure framework for these data. these measures will provide greater transparency around the reliability of services and allow institutions to better benchmark their operational performance. the 2020 review of retail payments regulation the third and final issue i would like to touch on is the payments system board's review of retail payments regulation next year. the review is intended to be wide - ranging and to cover all aspects of the retail payments landscape, not just the rba's existing cards regulation. as the first step in the process, we released an issues paper a couple of weeks ago and have asked for submissions by 31 january. [ 5 ] there will also be opportunities to meet with rba staff conducting the review. the review will cover a lot of ground, including hopefully some of the issues that i just mentioned. there are, though, a few other questions i would like to highlight. the first is what can be done to reduce further the cost of electronic payments? both the productivity commission and the black economy taskforce have called for us to examine this question. it is understandable why. as we move to a predominantly electronic world, the cost of electronic payments becomes a bigger issue. the payments system board's regulation of interchange fees and the surcharging framework, as well as its efforts to promote competition and encourage least - cost routing, have all helped lower payment costs. at issue is how we make further progress : what combination of regulation and market forces will best deliver this? relevant questions here include : whether interchange fees should be lowered further ; how best to ensure that merchants can choose the payment rails that give them the best https : / / www. rba. gov. au / speeches / 2019 / sp - gov - 2019 - 12 - 10. html 10 / 12 10 / 12 / 2019 a payments system for the digital economy | speeches | rba value for money ; and whether restrictions relating to no - surcharge rules should be applied to other arrangements, including the buy - now - pay - later schemes. a second issue is what is the future of the cheque system? cheque use in australia has been in sharp decline for some time. over the past year, the number of
various codes of conduct guidelines for fixing orders. what is particularly important is to ensure that banks do not share information with each other about customer orders before the fixing. the snb supports the recommendations contained in the report by the working group. it is now up to the private sector, first and foremost, to implement these recommendations. the reforms carried out so far, with regard to both interest rate benchmarks and foreign exchange benchmarks, are steps in the right direction. the snb will carefully monitor implementation of the reform proposals for foreign exchange benchmarks and provide support, if necessary. in the case of interest rate benchmarks, the fsb ’ s work will continue with the further participation of the snb. swiss average rate overnight. tomorrow / next overnight indexed swap. bis central bankers ’ speeches bis central bankers ’ speeches

##uy, chair of the ecb ’ s supervisory board, deutsche bank – bank capital forum, london, 23 february 2016. available here. 8 see central bank of ireland, “ macro - financial review 2016 : 1 ”, available here see central bank of ireland statistical release 13 september 2016, residential mortgage arrears and repossessions statistics : q2 2016. available here. 10 central bank of ireland regulatory returns using eba ’ s harmonised definition of non - performing 11 q2 2016 regulatory returns using eba ’ s harmonised definition of non - performing. 6 / 6 bis central bankers'speeches
niklaus blattner : three nations, two currencies, one economic area speech by mr niklaus blattner, vice - chairman of the governing board of the swiss national bank, at the freiburger montags - gesellschaft, freiburg im breisgau, 6 june 2005. the complete speech can be found in german on the swiss national bank ’ s website ( www. snb. ch ). * * * the upper rhine euroregion comprises baden, the sudpfalz region, alsace and northwestern switzerland. in what shape is the economy in this region? is it as dynamic as we would like? are the national borders that transect the region a handicap or have we come to accept them? what are the implications of the fact that the region has two currencies? firstly, the upper rhine euroregion is economically sound. this is due not least to the capital goods sector and the pharmaceutical / chemical industry, with the latter ensuring high added value in northwestern switzerland in particular. however, the upper rhine euroregion does not rank among the very best in europe. while its level of economic added value is perfectly acceptable, its growth in recent years has been significantly lower than that in other regions. the region ’ s situation is, therefore, no different to that of many other economic areas in continental europe. secondly, cross - border integration in the upper rhine euroregion is high. the diversity of the economic interrelationships between the national regions is reflected in the brisk trade in goods, capital flow and free movement of persons. it is clear from this economic integration that the fear of the region ’ s borders considerably compromising economic development cannot be confirmed. rather, the diminishing, relative importance of intra - regional foreign trade and intra - regional cross - border direct investment is due more to globalisation and the ensuing increase in the influence of eastern european and asian economies than to weakening ties within the upper rhine region. thirdly, the most notable aspect of the relationship between the region ’ s two currencies since the introduction of the euro in 1999 is its stability. that does not mean, however, that the issue of switzerland ’ s ascension to the eu is of no consequence. having its own currency allows switzerland to conduct an independent monetary policy that is tailored to suit its needs. finally, the economic policy can help the region thrive further by removing remaining hurdles, such as those in the labour market and in the exchange of goods and services ( cassis de dijon

principle ). a well - integrated economic region is the key to a prosperous future. “ three nations, two currencies, one economic area ” - the title of the paper - not only describes the reality, it also maps out the way forward.
banks courage, perseverance and vision as they plot their course to the future. thank you.

steven maijoor : data make the world go round - on open data and open finance speech by mr steven maijoor, executive director of supervision of the netherlands bank, at the 6th edition of " fintech meets the regulators ", organised by the netherlands bank and holland fintech, amsterdam, 1 june 2022. * * * hello everyone. a month ago the european commission issued a complaint against apple. the commission accused the tech giant of restricting competition in the mobile wallet market by restricting access to near - field communication, commonly referred to as tap and go. the commission stated that apple " abused its dominant position in markets for mobile wallets on ios devices. this has an exclusionary effect on competitors and leads to less innovation and less choice for consumers for mobile wallets on iphones ". a very interesting case. a case that includes and highlights the issues we will be talking about today ; innovation, data sharing, level playing fields and the costs and benefits of technological innovation. especially the data that are sourced, accumulated and shared by these innovations. because we all know : data make the world go round -. the financial sector is no exception to this trend : the need for data in all forms and from all sources. those data are essential to innovate financial products and financial processes. to enable financial institutions to offer cheaper, faster and more personalised services. to increase efficiency and economic growth. but to reap all these benefits it has to be possible for consumers and businesses to share their data in a way that safeguards their interests and enables innovation, efficiency and competition. we have to take open banking one step further into what we call open finance. open finance goes beyond the scope of data and services available at banks, covering not only payment data, but also data on investments, savings, loans, and insurance, such as claim history. data that can be used to help financial institutions to make better estimates about risks, because they gain access to the total financial footprint of their users. data that can be shared with other financial parties, including fintechs and other third parties. under open finance this sharing of data will be based on permission from the data owner, just like with open banking, now regulated by psd2. open finance is a big step. a welcome step. dnb is also taking a first step in making data that we have as a supervisor, available to financial parties. for example, dnb is actively participating in an initiative for a credit register
peter praet : towards banking union remarks by mr peter praet, member of the executive board of the european central bank, in the session " ( do not ) break it : today's europe at full speed " of the luiss international conference on " europe 2017 : make it or break it ", rome, 24 january 2017. * * * i would like to thank sander tordoir and malte jahning for their contributions to this speech. today ’ s conference title ‘ europe 2017 : make it or break it ’ brings forth the notion that europe is at a crossroads. it reflects an increasing polarization between the proponents and the detractors of european integration. polarization does not do justice to the policy responses and the institutional reforms that have strengthened our economic and monetary union in the aftermath of the crisis. today i would like to do justice to the significant progress towards banking union. in less than half a decade, the european union moved from decentralized banking supervision and resolution to the single supervisory mechanism and the single resolution mechanism. the fact that more needs to be done to complete the banking union should not come as a surprise. the concept of banking union is simple a european bank should be able to operate in the banking union exactly as it operates in its domestic market, but its implementation is complex. this entails fungibility of capital and liquidity, simplified governance structures, and lower operational costs. the institutional framework should create an environment fostering a more geographically diverse, more resilient banking system. there still are a number of legal, institutional, political and even cultural problems to overcome before we can declare this ambitious undertaking achieved. the direction of progress is clear, its speed less so. banking union is not an end in itself, but a backbone of the single currency. first, for money to be truly single within a currency area there has to be full substitutability between its different forms, including full fungibility of deposits across border. second, risk sharing channels are particularly important for countries in a monetary union, because the single monetary policy cannot cater to cushion asymmetric shocks. the financial system is a central channel of adjustment. in a mature monetary union like the united states, empirical evidence suggests that the bulk of shocks to individual states are smoothed through the financial system1 and that the contribution of the federal budget to income smoothing is comparatively small. the financing of the economy has traditionally been market - based in the united states, and bank

in europe ”, april 2016. 2 see special feature a entitled “ financial integration and risk sharing in a monetary union ” in financial integration in europe report, april 2016. 3 / 4 bis central bankers'speeches 3 see special feature b entitled “ national options and discretions in the prudential regulatory framework for banks ” in financial integration in europe report, april 2016. 4 / 4 bis central bankers'speeches
njuguna ndung ’ u : implementing reforms in kenya remarks by prof njuguna ndung ’ u, governor of the central bank of kenya, at the 15th east afritac steering committee meeting, naivasha, 8 april 2013. * * * members of the east afritac steering committee here present ; mr. xavier maret, the east afritac centre coordinator ; mr. ragnar gudmundsson, imf resident representative to kenya ; east afritac advisors and consultants ; distinguished ladies and gentlemen : it is my pleasure to officially open the 15th east afritac steering committee meeting. on behalf of the government of kenya, i take this opportunity to welcome you all to kenya. in particular, i would like to welcome you to naivasha, one of our leading horticultural producing regions and a tourist destination at the heart of the great rift valley. i know that we have some good work cut out for us in the next one and a half days but at the same time i would like to encourage all of you and especially those visiting the region for the first time, to find time to sample our beautiful tourist attractions in naivasha before you depart. naivasha is also the home town of the roses that are cherished in europe and the town is also located in the precincts of the panoramic landscapes of the great rift valley which you must have enjoyed as you descended the escarpment on your way to this resort. ladies and gentlemen some of you may be wondering why i am opening the 15th east afritac steering committee meeting this evening instead of tomorrow, 9th april 2013 as had been indicated in the programme. it is for a good reason because on the 9th of april we will be witnessing the culmination of a process that started way back in 2010 when we promulgated our new constitution. the kenyan constitution 2010 brought in new governance structures and processes including the way we conduct elections and procedures for transfer of political power. this is why we had to adjust the programme to allow my participation during the inauguration of the fourth president of the republic of kenya on tuesday, 9th april 2013. given the critical importance of this meeting, we thought it should proceed as planned. ladies and gentlemen let me now turn to the subject matter of our meeting and in this regard, i would like to first and foremost express our sincere gratitude to east afritac for the support that we have received over the years. through this support, we have

15th east afritac steering committee meeting officially open. thank you all and enjoy the rest of the evening. bis central bankers ’ speeches
sabine mauderer : what got us here will not get us there - how the eu and germany are preparing finance for a new age introductory statement by dr sabine mauderer, member of the executive board of the deutsche bundesbank, at the virtual conference of cfa institute and cfa society germany, 29 september 2020. * * * 1 introduction today, we are looking at the crucial question of how the eu and germany are preparing finance for a new age. as a central banker, let me start with monetary policy and a clear assessment. 2 the role of the eurosystem for capital markets during the pandemic the eurosystem ’ s monetary policy has helped prevent an impairment of the financial system that would have aggravated the economic crisis. at the beginning of the covid - 19 crisis, the economic outlook deteriorated at an unprecedented speed and financial conditions tightened. above all, there was a danger that the financial sector might become impaired and that this could make the severe slump in the real economy even worse. as the financial crisis taught us, such a negative feedback loop could seriously impede price stability in the medium term. in order to avert this, monetary policy action was needed. providing banks with an ample supply of liquidity, coupled with low interest rates, helps to ensure that the economic crisis is not further aggravated by the financial system. and, indeed, the ecb governing council adopted a broad set of measures, including asset purchases, long - term central bank loans and collateral framework adjustments. in particular, the pandemic emergency purchase programme ( pepp ) helped reduce systemic stress in financial markets. after the announcement of the pepp, financial conditions for companies, households and governments clearly improved in the euro area. moreover, during spring, it became clearer that the crisis would dampen future consumer prices. therefore, further monetary policy action was warranted in june, given our mandate to ensure price stability. 3 outlook : the price stability mandate as the yardstick for the eurosystem ’ s role our mandate is where my second message comes in. looking ahead, fulfilling our price stability mandate with adequate measures should continue to be the yardstick for the eurosystem ’ s role in capital markets. the governing council has to keep checking whether its measures are suitable and welldesigned in order to choose the right instruments and to design programmes prudently. any assessment of a monetary policy measure has to compare the degree to which this measure contributes to achieving the monetary policy objective on the

consider this a positive development, as the next rainstorm is sure to come, and when it does, it will be a good thing that enterprises are able to procure their umbrellas both on the capital market and in the shape of loans. thank you for your attention. i now look forward to a lively discussion. bis central bankers ’ speeches
extensive experience in monetary policy management, and in banking and financial regulation and supervision. he has been at the forefront of efforts to address and resolve the financial crisis that began in 2007 and the subsequent european sovereign debt crisis. as well as for his profound knowledge of monetary and financial matters, governor noyer is known for the extremely courteous and careful way in which he always expresses his opinions and even his most serious disagreements. i am sure, ladies and gentlemen, that you are going to enjoy and benefit from the quality, both in substance and in form, of the address that governor noyer is about to give. ladies and gentlemen, thank you very much. bis central bankers ’ speeches

its support for a design that honoured the first australians. the new note will continue the rba's proud tradition of having first australians'imagery on australia's banknotes. some of you might recall the $ 1 dollar paper banknote issued in 1966 and the first $ 10 polymer banknote issued in 1988, both of which featured the art and culture of first nations peoples. australia's coins, which are produced by the royal australian mint, will continue to have the image of the monarch on one side. the rba is now embarking on a process of consultation with first australians on the new design. we anticipate it will be at least a couple of years before the new banknote is ready for circulation. the current $ 5 banknote will continue to be issued until then and it will still be able to be used once the new banknote enters circulation. thank you for your attention. next time we meet, the review into the reserve bank will have been completed and we look forward to discussing the results and recommendations with you. today, my colleagues and i are here to answer your questions. 5 / 5 bis - central bankers'speeches
their market success. such processes will inevitably touch the bank operations in the republic of macedonia. in perspective, the use of modern technologies will not only affect the market performance of banks, but will probably change radically their relationship with depositors and other clients. in fact, even for countries such as the republic of macedonia, with relatively modest financial education and low utilization of modern technologies in the financial area, the question that arises is not whether, but when the digitization process will engulf the domestic banking system. in this light, i would like to point to the process of digitization and use of information technology not as a threat against the competition in banking, but as a new opportunity to bring financial services closer to as many clients as possible, to raise financial inclusion and literacy, and to ensure better allocation of resources, as phenomena of greater economic and social significance. 1 / 2 bis central bankers'speeches on the other hand, the application of new technological solutions brings changes in the range of risks that banks face and manage in their day - to - day operations. in addition to the conventional bank risks such as credit risk, interest rate risk, currency risk, the importance of non - financial operational risks will gradually increase. increased use of modern technical solutions will mean greater significance of the risks related to the information systems security, the confidentiality of the data, the storage of information content, the access and the maintenance of the payment systems. at the end, before awarding the best counter officers, allow me to express gratitude on my behalf and on behalf of the national bank for their daily and painstaking work in the banks ’ branches. thank you for your attention and congratulations on the world savings day! 2 / 2 bis central bankers'speeches

the language in which policy - and decision - makers need to speak and understand each other ". thank you for your attention. 1 draghi, m. welcome address at the eighth ecb statistics conference, central bank statistics : moving beyond the aggregates, frankfurt am main, 6 july 2016. www. ecb. europa. eu / press / key / date / 2016 / html / sp160706. en. html 3 / 3 available at the ecb web site : bis central bankers'speeches