samchain/econo-pairs-v2 huggingface dataset:
country. domestically, it is imperative that the new financial institutions law be enacted to give us the necessary power to implement, among other things, the all - important consolidated supervision and prompt corrective action over financial institutions. finally, i would like to thank you all for participating in this workshop, especially those of you who have contributed to the self - assessment exercise that has already been in progress. your continued cooperation and support will certainly be much needed in the months and years ahead. i wish you all an interesting and useful workshop. thank you very much.

gent sejko : monetary policy of the countries of the region between us federal reserves and european central bank speech by mr gent sejko, governor of the bank of albania, at the becici summit of the countries of the region on " regional financial stability in a new global environment ", becici, montenegro, 16 june 2017. * * * dear mr. chairman, dear colleagues, i would like to start by thanking the organizers for this invitation. as usual, i find it highly useful to share, among colleagues, opinions on common challenges. the title of the panel suggests our monetary policy stances are somehow shaped by the ecb and the fed monetary policy paths. though far from being the full picture, this is true, at some extent. the monetary policies of both these central banks are highly relevant to us. they affect external conditions and they could dictate the directions, the speed and the price of financial flows. furthermore, for countries with a dollarized or euroized financial system, they might also affect domestic credit, financial conditions, balance sheets, as well as exchange rates. so, this brings us to the following questions. where does our monetary policy sit at the current situation? what challenges do we face? and, how do we respond to the shifting of these external monetary policies? i am quite confident these issues will be broadly covered during this event. now let me make a few remarks, regarding the monetary policy of the bank of albania vis - a - vis that of the ecb or the fed. the boa has pursued an expansionary monetary policy, which has been both supported and facilitated by the monetary policy stance of the ecb. during the past four years, the bank of albania has been engaged in an extensive course of monetary accommodation. in the presence of weak cyclical developments and low inflationary pressures, we have decreased our policy rate to a historical minimum of 1. 25 %. furthermore : we have increased our liquidity injections in the banking system ; we have adopted negative rates for required reserves in euro, in line with the policy of negative deposit interest rates in the euro area ; we have been engaged in a clear and transparent forward guidance, announcing our preference for accommodative policy in line with our inflation target ; however, unlike the fed and the ecb, and similarly to other central banks in the region, we have not activated unconventional monetary policy tools. this is because the monetary policy accommodation pursued by the
##en those policies that enable us to face changes in the external context and, in turn, to develop our economic institutions so as to better channel benign scenarios and improve the power of our policy instruments, with the aim of being fully responsible for the achievement of the objectives set and, thus, aim higher and higher. this is the path for monetary and financial policy to provide the stability and predictability needed for the development of our people. thank you.

bank of agentina is implementing. the strength many emerging countries – particularly in south america – have shown in overcoming the crisis will allow us to strenghten our position in the global economy. the impact of the crisis has been stronger in those emerging economies with external imbalances, higher financial fragility and fixed exchange rate regimes. but, through its “ second round ” effects, the spread of the crisis has compromised short term economic growth of most developing economies, even those with relatively robust positions. as to most economies in our region, this episode has found them in a better position than in previous occasions, with higher growth rates, an improved fiscal position and a relatively sound external front, supported by a previous foreign reserve accumulation process through sterilized operations. it is clear that, in a very favorable international context, cyclical factors had an influence on these developments. however, the better performance the region achieved was mainly due to the gradual assimilation of the lessons learned from a past characterized by recurring macroeconomic instability episodes. the magnitude of an unprecedented crisis has forced us to face some difficult policy dilemmas. in fact, for the first time in a long period, it has given policymakers, a clear opportunity to make a difference with the past. the world was headed to the abyss at a very high speed. a new great depression. but, now we can say that such free fall was left behind and that policymakers around the world, have been up to the occasion, being able to avoid the abyss and instead overcome a period that will probably be inscribed in history as a great recession. of course, this does not mean there is room for complacency. on the contrary, great challenges that need full attention still remain ahead of us ; not only for policymakers but also for the entire profession. in south america we got around the challenges trying to preserve most of the basic equilibriums achieved in the external and fiscal fronts. we suddenly moved from a context characterized by an abundance of financing to a much more adverse scenario. most governments have adopted a set of expansionary measures aimed at mitigating contractionary trends. the chance of adopting these measures in an adverse context has been a relatively unusual phenomenon in the region, traditionally characterized by highly procyclical policies. and this is the behavior we have adopted in agentina. we have built a monetary and financial framework that gives priority to avoiding " the next crisis ", a concept that is present in every citizen ’ s mind.
amando m tetangco, jr : strengthening partnerships for a more resilient banking system remarks by mr amando m tetangco, jr, governor of the central bank of the philippines ( bangko sentral ng pilipinas ), at the thanksgiving dinner hosted by the aig philam savings bank, inc., makati city, 23 november 2006. * * * thank you ched. former central bank governor and now philamlife president and ceo jose cuisia, jr., mr. ridha wirakusumah of aig asia, other officers and staff of the philamlife - aig family, fellow bankers, special guests. good evening! i am glad i am here to witness what you call the gala premier to celebrate the merger of philam savings bank and aig credit card company philippines which gives birth to aig philam savings bank. to us in the banking sector, this strategic move by the philamlife group and aig to consolidate their consumer finance businesses will further strengthen the bank ’ s financial position and boost its competitive edge. ultimately, this should translate to a more efficient and reliable delivery of financial products and services to the public. to central bankers like me who are responsible for keeping the banking sector sound, healthy, and responsive to the needs of the economy, this is welcome news indeed. my former boss, former central bank governor joey cuisia, will attest to this. in fact, it has been the policy of the bangko sentral ng pilipinas to encourage mergers and consolidation …. so that we will have stronger and more globally competitive banks. thus, those keeping track of developments in the banking community will realize that the aig philam savings bank is the latest outcome in a series of mergers that have been taking place as our banks gear up for increasing competition. in this period of global convergence where competition is the norm and banks are measured against rigorous standards, one strategy that enhances the likelihood of survival and sustained viability is to go the way of mergers and consolidation. in this regard, we foresee a scenario of fewer but more financially powerful universal and commercial banks that are better able to compete in a world of more open borders. however, this is not to say that there will be no place in the evolving financial environment for smaller banks such as thrift and rural banks. in fact, smaller specialist banks cover important niche markets that have unique needs ; for instance, consumer trade and

transparency, fairness and accountability. good luck and congratulations! mabuhay!
consultation and it is likely that the final report will be issued early next year. the principles for fmi report has 24 recommendations devoted to the public policy objectives of safety, security of fmis. section 7 : regulatory framework to serve as a catalyst for the industry to prosper and for innovation to thrive a sound complementary regulatory framework is very much required. such a framework should provide a level playing field for all providers to enable the customer to exercise his choices as regards choosing a particular service provider. other important components for such a regulatory framework would also encompass customer protection issues, fraud prevention issues, security related issues and fair pricing. having said this i draw your attention to the rbi ’ s vision document for payment systems for the period 2009 – 2012 wherein the framework for operation of all payment and settlement systems in the country has been clearly stated as being more than the usual 3ss + e viz. safety, security, soundness and efficiency coupled with the 2as accessibility and authorisation. concomitant with this vision some of the regulatory measures taken by rbi include the creation and classification of the atm network as a shared national payment infrastructure ; mandating safety and security of transactions both paper based and electronic and card based payment systems ; prescribing standards for cheques under cheque truncation ; creating customer comfort through provision of positive confirmation, creation of customer facilitation centres, reducing the time taken for resolution of atm failed transactions ; telecommunication connectivity scheme for northeast region for expanding the reach of banking services ; etc. the regulatory framework also promoted innovation and orderly developments of new payment products such as prepaid card and mobile banking etc. rbi has also undertaken selective intervention in pricing framework for various payment products to enhance their reach amongst the public. section 8 : 5 a ’ s of payment system before i conclude, let me attempt to provide a link with my topic with the next session, which is on cost efficient business model for low cost banking. in conclusion i would draw your attention to what i have generically termed as the 5 a ’ s of a payment system. these are availability, accessibility, acceptability, affordability and awareness of the system and the product. availability combines the notion of a level playing field for the service providers along with the availability of choice of products for the consumers. accessibility as a concept should be the cornerstone to expand the reach of the banking systems and the various payment products to all the sections of the society including the “ aam aadmi ” as part of the

ms. mary e barth bis central bankers ’ speeches
risk based supervision. there are periodic off - site and on - site examinations of banks ’ performance based on internationally accepted benchmarks. in addition, the bank of uganda in its effort to mitigate risks in the banking sector introduced the credit reference bureau ( crb ) and we would like to request that all sfis ensure that their borrowers register as this will create a database for managing some of the banking risks. hennie van greuning : analyzing banking risk – a framework for assessing corporate governance and financial risk management. way forward given the challenges faced by the banking sector with respect to frauds, the measures envisaged to improve the risk management systems and maintain a strong vibrant financial sector could be twofold ; those that can be done within the banking industry and its players, and those that can be initiated from outside the banking sector. internally, the banking sector players should rethink the strategy of elevating the level of scrutiny on their employees or what has become known as “ know your employee ” or kye. available statistics indicate that most of the bank frauds are internally perpetrated by employees who exploit weaknesses / lapses within the organization. the electronic era has made life better for banks in the area of transaction processing and timely delivery of value but has also introduced new types of risks and exposures. information systems that have an element of cyber or internet connection may potentially be open to the whole world and computer hackers have often used this route to cause financial loss to some financial institutions around the world. additionally, banks should enhance risk profiling of their customers. they should go beyond the traditional “ know your customer ” ( kyc ) to enhanced customer due diligence ( ecdd ). banks should be prepared to invest in the training of their employees so as to accumulate adequate human capital for managing those risks associated with the changing banking environment. most importantly, banks much exhibit high standards of good corporate governance. externally, the dearth of punitive legislation has been sighted as one of the major factors promoting frauds. as long as fraudsters know that even when sentenced, their illicit assets remain intact, they will continue in this business. enactment of laws like the anti - money laundering bill that provides for the seizure of such assets may serve as a deterrent. to facilitate faster administration of justice, the government could create specialized financial investigative sections of police. the government should revive its project of establishing common infrastructure like the national identification card to facilitate identification of customers. i thank

you very much for your attention.
if evidence emerges of employee misconduct, error, failure of risk management or unexpectedly poor financial performance by the individual, their team or company. we are continuing to refine our approach. the bank has just completed a consultation on a requirement for variable remuneration to be clawed back after payment and will consult later in the year on new standards for bonus deferrals. these provisions will apply not only to employees who are judged culpable directly, but also to others who could reasonably have been expected to identify and manage risks or misconduct but did not take steps to do so, and senior executives who could reasonably be deemed responsible by establishing the culture and strategy of the organisation. where problems of performance or risk management are pervasive, bonuses should be adjusted for whole groups of employees. of course, no compensation package can fully internalise the impact of individual actions on systemic risks, including on trust in the system. 19 to do so, market participants need to become true stakeholders. that is, they must recognise that their actions do not merely affect their personal rewards, but also the legitimacy of the system in which they operate. more fundamentally, to think that compensation arrangements can ensure virtue is to miss the point entirely. integrity cannot be legislated, and it certainly cannot be bought. it must come from within. see carney ( 2013 ). bis central bankers ’ speeches fourth, building a sense of vocation and responsibility to build this sense of the systemic, business ultimately needs to be seen as a vocation, an activity with high ethical standards, which in turn conveys certain responsibilities. it can begin by asking the right questions. who does finance serve? itself? the real economy? society? and to whom is the financier responsible? herself? his business? their system? the answers start from recognising that financial capitalism is not an end in itself, but a means to promote investment, innovation, growth and prosperity. banking is fundamentally about intermediation – connecting borrowers and savers in the real economy. in the run - up to the crisis, banking became about banks not businesses ; transactions not relations ; counterparties not clients. new instruments originally designed to meet the credit and hedging needs of businesses quickly morphed into ways to amplify bets on financial outcomes. when bankers become detached from end - users, their only reward becomes money. purely financial compensation ignores the non - pecuniary rewards to employment, such as the satisfaction from helping

42. see financial stability in focus : the fpc's approach to assessing risks in market - based finance i bank of england 43. see this recent article for further detail. 44. see financial stability risks from the non - bank sector : thinking system wide - speech by lee foulger i bank of england sarah breeden deputy governor, financial stability a©2024 bank of england
jointly grow the industry. by applying the same regulatory framework to both conventional and islamic financial institutions, singapore aims to encourage financial institutions here to grow their suite of products and services for the islamic finance industry. conclusion let me conclude. islamic finance has come a long way. as it embarks on its next phase of growth, the industry must overcome the challenges posed by slower growth and global deleveraging, and build scale and reach critical mass. this requires financial institutions, regulators, and international standard setting agencies to work closely together. forums like these are ideal platforms. i wish you fruitful discussions. thank you. bis central bankers ’ speeches

radovan jelasic : 121 - year anniversary of the national bank of serbia speech by mr radovan jelasic, governor of the national bank of serbia, on the occasion of the 121 - year anniversary of the national bank of serbia, belgrade, 16 march 2005. * * * dear ladies and gentlemen, honoured guests, on this day, exactly 121 years ago, the privileged national bank of serbia obtained the licence to operate as serbia ’ s central banking institution in charge of domestic money, or, to cite the words used in the law on its foundation, the bank has been founded “ with a view to upgrading trade and economy in the kingdom of serbia by means of inexpensive capital and well - regulated credit. ” celebrating its anniversary, the national bank of serbia has enriched its museum exhibition of the numismatic collection of coins and banknotes that originated and have been in use on the territory of serbia since the seventh century b. c. to the present day by another interesting exhibition, “ dinar – our money ”, which will be open for public as of today, here in the nbs building in the kralja petra street. in addition to banknotes and coins from our recent and remote history, we also exhibited a selection of foreign and domestic banknotes in higher denominations, showing both the original banknotes and their counterfeits. the visitors to this part of the exhibition will be afforded an opportunity to compare the former with the latter, and become acquainted with security features incorporated in banknotes, in order to reduce the risk of their ever owning counterfeits. we have thus exhibited banknotes and their respective counterfeits in denominations of 1, 000 and 5, 000 dinars, and foreign banknotes in denominations of 200 and 500 euros. the exhibited “ super dollar ”, a 100 - dollar banknote, produced with a high degree of success, as well as the 200 - euro “ super euro ”, another significantly “ improved ” counterfeit, indicate to what extent technological development has contributed to the upgrading of counterfeits, adding to the difficulty of recognizing the foregoing. although the share of counterfeit dinars remains low, at only 0. 05 percent relative to the total number of banknotes in circulation, we, at nbs, would like to offer assistance to citizens in this respect as well, so that they should be able to protect themselves more efficiently against the reception of counterfeit money, as well as with a view to contributing to a
i believe, he would have appreciated. we have prepared four background notes, one for each session of the conference, to summarize his thoughts and legacy on each of the four themes that were at the centre of his work : monetary policy and payment systems, financial system regulation and supervision, the process of european integration, and the reform of the international monetary system. i think that the notes give ample testimony of the depth and vitality of his contribution. corriere della sera, 3 may 1998. bis central bankers ’ speeches before the panel discussions, however, we will have the pleasure of being addressed by italy ’ s prime minister, professor mario monti, whom i thank warmly for confirming his acceptance of our invitation in spite of his many pressing engagements. bis central bankers ’ speeches

towards a shared management of the underlying problems of our economies in which each is called on to shoulder more responsibility in serving the common good. although the forms may be mortifying, the substance of the problems to be solved does not depend on the person who enunciates them. it is in the interest of the individual member states to recognize this substance, to recognize the ways to go forward – and without hoping in others – to trust in themselves, their own strength, their own history – to save themselves in europe. this is the fundamental lesson of the crisis : to build the future in europe together. only by doing so will we be able to remake italy. bis central bankers ’ speeches