samchain/econo-pairs-v2 huggingface dataset:
lack of comparable historical data, so we should not overstate the precision of stress testing tools as of today, and be ready to examine multiple scenarios and assumptions and learn progressively. this would help to properly complement our regulatory and supervisory framework. 6 / 6

reflected in the basel framework ( eg credit risk, market risk, liquidity risk, operational risk ) can be used to capture climaterelated financial risks. this conclusion is important, as it provides a strong conceptual foundation for the committee ’ s next phase of work. instead of treating climate - related financial risk as a new separate risk type, the committee will explore possible measures within the current structure of the basel framework to address such risks. and this is where we are now. we are analysing the extent to which these risks can be addressed within the existing basel framework, identify potential gaps in the current framework and consider possible measures to address any gaps. i view this as a key value - add to the various international initiatives that are underway. and when analysing the potential existence of gaps to the current framework, we are taken a very comprehensive approach, meaning that we will look in detail to the regulatory, supervisory and disclosure dimensions. i think we all agree that the topic of climate change is all - encompassing when it comes to the potential impact on banks, and therefore requires a holistic approach when considering potential responses. on disclosure, we are conscious that there are a lot of initiatives underway focused on developing a globally consistent approach to sustainability reporting. but across these initiatives, we still need to bridge gaps so as to build a common disclosure foundation. given the evolving initiatives and uncertainties related to the measurement of climate - related financial risks, we will consider in near term an appropriate basel committee response to support these initiatives. the pillar 3 framework is a powerful instrument when it comes to disclosure. it is designed in a modular way and can therefore can be easily updated and adapted to reflect additional risks. on supervision, both the basel core principles and pillar 2 framework are flexible to accommodate any additional supervisory responses. the committee is also exploring sound supervisory practices associated with climate - related financial risks. the target is to prepare a report for discussion with the committee in q3 and publish the report by year - end ( subject to the committee ’ s approval ). finally on regulation, i note with regret that far too often the discussion appears to focus solely on the notion of introducing so - called “ green supporting factors ” to seemingly “ incentivise ” banks to favour greener loans and investments. as i mentioned previously, 4 / 6 the committee will not pursue such an approach, but will rather be led by its mandate. accordingly, we will be focused solely on the risk profile of different asset classes when
1 strategic priorities of the insurance industry. 2 gross written premium year to date quarter 4 2018 – life €34, 869m, non - life €16, 068m, reinsurance €16, 703m ; source central bank of ireland regulatory returns. 3 sibley, ed : innovation and insurance in ireland : a supervisory perspective ( 2017 ). 4 see department of finance : the cost of insurance working group. the cost of insurance working group, chaired by minister of state michael d ’ arcy td, has undertaken a review of the factors which are influencing the increased cost of insurance. the working group brings together all the relevant departments and offices involved with the process. its objective is to identify immediate and longer term measures which can address increasing costs, while bearing in mind the need to maintain a stable insurance sector. the first phase involved an examination of the motor insurance sector. the second phase involved an examination of the employer liability insurance and public liability insurance sectors. 5 department of business, enterprise and innovation : second and final report of the personal injuries commission 6 clarke, frank : statement on the occasion of the opening of the new legal year ( 2018 ). 7 humphreys, heather : launch of the piab conference 2019, department of business, enterprise and innovation ( 2019 ). 8 a with - profits policy is typically one that allows the policy to participate in the profits of a life insurance company, through a ring - fenced fund with its own characteristics and specific fund rules. 9 rowland, derville : opening remarks at the central bank outsourcing conference ( 2019 ). 10 cession refers to the portions of the obligations in an insurance company ’ s policy portfolio that are transferred to a reinsurer. ceding a portion of risk to a reinsurer allows an insurance company to more effectively and efficiently manage its overall risk exposure. the agreement between the ceding insurance company and the reinsurance company will include comprehensive terms under which the cession is ceded. 11 the percentage of total non - linked investments allocated to sovereign debt reduced from 34 % to 28 % while the percentage of total non - linked investments allocated to corporate debt increased from 25 % to 31 % from q1 2016 to q4 2018. source : central bank of ireland regulatory returns. 12 central bank of ireland : compliance by regulated financial service providers with their obligations under the fitness and probity regime ( 2019 ). 13 central bank of ireland : demographic analysis of pcf applications ( 2019 ). 14 european insurance and

occupational pensions authority : financial stability report ( 2018 ). 15 central statistics office : population and labour force projections ( 2018 ). 7 / 7 bis central bankers'speeches
2 reports the average value of each characteristic for tracts that are assigned to each of the three types. specifically, each of these factors has an eigenvalue greater than one. bis central bankers ’ speeches bis central bankers ’ speeches

loan, and as the government as a whole lacked appropriate resolution authority or the ability to inject capital, the firm's failure was, unfortunately, unavoidable. the federal reserve and the treasury were compelled to focus instead on mitigating the fallout from the failure, for example, by taking measures to stabilize the triparty repurchase ( repo ) market. in contrast, in the case of the insurance company american international group ( aig ), the federal reserve judged that the company's financial and business assets were adequate to secure an $ 85 billion line of credit, enough to avert its imminent failure. because aig was counterparty to many of the world's largest financial firms, a significant borrower in the commercial paper market and other public debt markets, and a provider of insurance products to tens of millions of customers, its abrupt collapse likely would have intensified the crisis substantially further, at a time when the u. s. authorities had not yet obtained the necessary fiscal resources to deal with a massive systemic event. the failure of lehman brothers and the near - failure of aig were dramatic but hardly isolated events. many prominent firms struggled to survive as confidence plummeted. the investment bank merrill lynch, under pressure in the wake of lehman's failure, agreed to be acquired by bank of america ; the major thrift institution washington mutual was resolved by the federal deposit insurance corporation ( fdic ) in an assisted transaction ; and the large commercial bank wachovia, after experiencing severe liquidity outflows, agreed to be sold. the two largest remaining free - standing investment banks, morgan stanley and goldman sachs, were stabilized when the federal reserve approved, on an emergency basis, their applications to become bank holding companies. nor were the extraordinary pressures on financial firms during september and early october confined to the united states : for example, on september 18, the u. k. mortgage lender hbos, with assets of more than $ 1 trillion, was forced to merge with lloyds tsb. on september 29, the governments of belgium, luxembourg, and the netherlands effectively nationalized fortis, a banking and insurance firm that had assets of around $ 1 trillion. the same day, german authorities provided assistance to hypo real estate, a large commercial real estate lender, and the british government nationalized another mortgage lender, bradford and bingley. on the next day, september 30, the governments of belgium, france, and luxembourg injected capital
of the risks that caused so much damage elsewhere in asia. the diversity and depth of australian markets, by ensuring that avenues of financing are always available, also add to the resilience of the economy. i would also give some credit to the financial sector for contributing to the reduction in inflation volatility we have seen over the past 15 years. part of this can be traced to the reduced pass - through to inflation of changes in the exchange rate, which, in turn, has been partly attributable to the increased use of exchange rate hedging by firms. conclusion so let me end by saying that it is clear that the growth of financial markets and the growth of the economy are closely intertwined. financial markets need a strong economy to thrive, and the economy needs strong, vibrant and well - regulated markets if it is to continue to expand. i think that it is fair to conclude that australia to date has been well served by its financial markets, and i would encourage you to continue to work to maintain these high standards.

in the market. it is worth noting the code is principles - based rather than rules - based. this is to encourage market participants to think about their practices and how their activities comply with the principles, rather than working narrowly to a set of rules. the code ’ s application is also designed to be proportional to the fx business that a participant is involved in. clearly, there are some principles that aren ’ t directly relevant to the buy - side. most obvious are those principles that deal with handling client orders or client mark ups. ultimately, the code ’ s principles are there to give market participants confidence in how the market is operating. there are numerous ways the code can promote confidence. it can help to improve price competition as liquidity providers ’ pricing practices become more transparent to clients. market participants can also be more confident that good practices around information handling will result in a more level playing field for all. 1 / 2 bis central bankers'speeches so i encourage those of you who have yet to familiarise yourselves with the code to do so. and then consider adopting it. it is a useful tool in many ways, not just to enhance your own practices but, for those on the buy side to gauge what you should expect from your brokers in terms of their execution, the type of market colour they provide and their market practices more generally. finally, i should mention the work of the australian foreign exchange committee ( afxc ). this committee contributes to maintaining the code and promoting it within the local market. our membership comprises a diverse range of market participants, including those from both the sell - side and buy - side, and also those that provide infrastructure to the market, such as the platforms. so if you are interested to know more about the code, you could contact any one of the members and ask about their own experiences with the code. 2 / 2 bis central bankers'speeches
supervisory council decided to keep the key interest rate unchanged, at 3. 5 %. the supervisory council deems that the current monetary conditions are adequate to meet our medium - term inflation target, and provide the monetary stimulus necessary to recover the domestic private demand. bis central bankers ’ speeches

, in turn, conditions spending and investments in the economy. on the other hand, credit supply is tight, as lending standards performance shows. financial markets during the second half of 2011 were calm and reflected relatively downward premiums on liquidity risk and inflation. successive key rate cuts were swiftly reflected in the interbank market. in the primary market, government security yields dropped, reflecting the key interest rate cut as well as the low demand of the public sector for loans. moreover, transmission of monetary policy signals is expected to be extended fully to the deposits and loans market, in accordance with the transmission mechanism time lags. the bank of albania deems that a good part of above - analysed tendencies would be present during 2012, as well. according to our core projections, the albanian economy will continue to grow during the year ahead, albeit below its potential. the country ’ s economic activity will be conditioned by the solution of the crisis in the euro - area countries, economic growth of partner countries, and foreign investor ’ s attitude to risk. bis central bankers ’ speeches on the other hand, economic challenges in our partner countries may be transformed into positive opportunities for the albanian economy. albanian economy attractiveness with low unit labour costs, macroeconomic stability and financial soundness of businesses, households and the banking system may be reflected in more foreign direct investments. while our projections factorize lower foreign demand contribution, in baseline scenarios, the widening of albanian exports market remains a potential scenario, as well. economic growth projections presume positive consumption and investments growth at home, in response to improvement of lending terms. the latter are expected to reflect the eased monetary policy of the bank of albania and reduced risk premiums in the financial system. moreover, reduction of room for fiscal stimulus and maintaining of stable fiscal parameters will enable the private sector to create spare funds and cut down risk premiums for the economy. factorising our expectations for below - potential economic growth and lower imported inflation, as well as in the presence of the economy ’ s expectations on inflation around the target, our projections suggest that, with 90 % probability, consumer price inflation will range 1 – 3 % during 2012. * * * taking into consideration the information set out above, in the supervisory council assessment, inflationary pressures remain controlled over the monetary policy relevant horizon. moreover, economic agents ’ expectations on inflation remain anchored to the bank of albania ’ s target band. at the conclusion of discussions, the supervisory council decided to cut the key interest rate by 0
##z bank on the opening of its branch in kimbe, and look forward to its future plans to expand its branch network throughout png. thank you for listening.

over 20 percent. this performance is also reflective of the investors and public ’ s confidence of the management of the economy. in this regard, the private sector must be recognized and commended for the continuous confidence in the economy. however, the government needs to be cautious and remain within the medium term development strategy ( mtds ) and the budgetary framework, because these achievements to date can easily be undone if there is any fiscal slippage in the lead up to the national elections next year. going forward papua new guinea should not be complacent with the current macroeconomic stability but continue to work towards building a more efficient and competitive financial system that accommodates domestic and global challenges. the reforms of the financial sector is still on - going and the following reforms are currently being undertaken by the bank : • a taskforce has reviewed the superannuation and life insurance industries to determine areas where parts of these new legislations could be more stakeholder / member friendly. the report has been finalized and is waiting to be formally presented to the treasurer and myself ; • undertaking a review of the legal framework for the savings & loan societies and microfinance institutions ; • the bank continuous with the review of liberalization of foreign exchange controls with the aim of fully liberalizing the remaining controls ; • the bank encourages licensed non - bank financial institutions as authorized foreign exchange dealers to promote competition. • the bank has commenced a major review of the payments system in papua new guinea. review of the payments system is necessary for a sound and efficient system that will reduce costs to businesses. the review will cover different forms of payments, clearing - house, currency banknotes and coin distribution and withdrawal methods. papua new guinea is a predominantly cash economy and i want to see our people use clean banknotes and bright coins. i want to devise more efficient methods of withdrawing dirty and torn banknotes. these financial sector reforms are intended to sustain macroeconomic stability over the medium to longer term, which is necessary for laying the foundation for economic growth. however, these reforms themselves may not be able to achieve the desired outcomes if the government reneges on delivering the budgetary expectations. this expectation also takes into account the government ’ s achievement of a balanced budget in the medium term and commitment to deliver priority areas identified in the medium term development strategy ( mtds ).
it - for compliance " failures " related to fatf recommendations that are yet to have a proven impact on crime and of little relevance to most countries in our region. we must ensure that resources and knowledge are shared, and a common pacific voice heard as these affects the livelihoods of our people. on that, perhaps, rather sombre note, i welcome you to our country, with the all the generosity, and warmth of spirit that this country, and our pacific region is known. it is my honour to declare this in person inaugural pacific financial intelligence community plenary open. i hope this meeting leads to the deepening of friendships between participants and ties between our countries. 2 / 3 bis - central bankers'speeches may god bless you all. 3 / 3 bis - central bankers'speeches

, 2023. 3 / 4 bis - central bankers'speeches 6 in addition, the committee said it will continue to reduce its holdings of treasury securities and agency debt and agency mortgage - backed securities, according to the board of governors of the federal reserve system, plans for reducing the size of the federal reserve's balance sheet, may 4, 2022. 4 / 4 bis - central bankers'speeches
, and deposits handily fund loans. so why would we do total loss absorption capacity ( tlac )? and what sort of resolution plan is possible when recapitalization from markets is most unlikely? we can ’ t afford to close a dsib, and we have no capital markets providers to take the failure risk. this is far from unusual in small countries — so why are we putting a lot of time into internal capital adequacy assessment processes ( icaaps ), recovery plans, resolution plans, and the like? because that is the international expectation. it would be better to develop a supersimplified but pragmatic approach that minimizes but does not eliminate the potential for public sector bailouts of dsibs. conclusion to sum up : the bahamian experience, and from what we have seen of other small country experience with the basel committee, has generally been positive. we are also deeply grateful for the work of the fsi, which is an extraordinarily helpful group. the same applies to the technical assistance on offer directly from basel committee member agencies and their associated national assistance bodies, plus the international multilateral development bodies. there are a few areas where we would like to see more consideration given to small country issues, but the bottom line is that the bcbs works for us, even though we aren ’ t a member and are unlikely ever to become a member. we are not yet in a position to say that about all international rule - making bodies, but that is a conversation for another day. i will conclude by thanking you personally and your agencies for your good work, and for the assistance and consideration you have shown the bahamas and other small nations over the years, and the assistance and consideration to come in the future.

the rules. a monetary policy report that might accompany such a forecast could include various views that may differ from the baseline summaries. performing this exercise would indicate the inherent uncertainty that policymakers face, yet it would also provide a better sense of the likely direction of policy and the variables most related systematically to that policy. further, this type of communication would push the fomc to conduct policy in a more systematic manner, which i believe will lead to better economic outcomes over the longer run. bis central bankers ’ speeches
that the banking sector will take advantage of opportunities arising from the conducive macroeconomic environment in the country to create wealth and contribute to the development in our economy. finally, let me extend my gratitude to the board of directors and the managing director of access bank zambia limited for inviting me to officiate at this launch of the two branches and the visa debit card. i also wish to particularly thank the access bank, group deputy managing director, mr herbert wigwe for having travelled all the way from nigeria, to come and be part of this event today. it now gives me great pleasure and honour to declare the acacia and longarces branches officially launched. i thank you for your attention.

federal reserve banks have partnered with financial institutions, nonprofit organizations, local governments, and community institutions to help improve consumers'access to financial education materials and programs. currently, the board and the philadelphia reserve bank are conducting long - term research projects to better understand what makes particular consumer counseling and education programs successful. conclusion the federal reserve is committed to being proactive in addressing issues that affect consumers in their financial services transactions. we seek to promote the availability of consumer credit while ensuring that consumers receive the information they need to understand their options. consumers who do not have accurate information and an understanding of what that information means will have difficulty choosing among competing products. because information is critical to more competitive, and thus more efficient markets, more effective disclosure also has the capacity to weed out some abuses. by using consumer testing systematically, the federal reserve is taking an innovative approach to revising its regulations and improving the effectiveness of disclosures. at the same time, we will continue our cooperation with educational and community organizations around the country to help inform and support consumer education efforts. we recognize, however, that disclosures and financial education may not always be sufficient to combat abusive practices. because some bad lending practices may require additional measures, the federal reserve will seriously consider how we might use our rulemaking authority to address abusive practices without restricting consumers'access to beneficial financing options and responsible subprime credit. we will, along with the other supervisory agencies, also continue to actively use our other tools – such as supervisory guidance, the examination process, and our enforcement powers – to address specific practices that are abusive or otherwise inappropriate.