samchain/econo-pairs-v2 huggingface dataset:
abdul - nashiru issahaku : developing ghana ’ s banking system speech by dr abdul - nashiru issahaku, governor of the bank of ghana, at the inauguration of the sunyani regional office building, sunyani, 30 june 2016. * * * nananom board of directors of bank of ghana representatives of banks in the brong - ahafo region representatives of security agencies in the brong - ahafo region heads of departments regional managers my cherished members of staff distinguished ladies and gentlemen good morning i am delighted to welcome you all to the inauguration of our new sunyani regional office building. let me sincerely thank the chiefs and people of sunyani, in fact, the brong ahafo region for making the land available to us. this is a clear indication of the support and collaboration between the bank and the chiefs. and let me also take this opportunity to thank the immediate past governor of the bank of ghana dr. henry kofi wampah for spearheading this project and seeing to its completion. as we may all be aware, prior to the construction of this ultra - modern office complex, the sunyani regional office had operated from the second floor of a building whose lower floors were occupied by gcb bank. the regulator sharing office with the client is not ethically sound and exposes the bank to familiarity threats. in addition, the former office did not have a banknote processing capacity and depended on the kumasi regional office for the processing of its deposits as well as fit - sorting banknotes for re - issuance to banks and other financial institutions in its catchment area. we have been under pressure and in a hurry to catch up and provide the facilities necessary to deliver the required services in the region and make a difference. the inauguration of this magnificent sunyani regional office with adequate space for a banking hall to be serviced by four tellers, an office space for cheque codeline clearing supported by a back office to serve customers, and fully equipped offices, is one of the eloquent testimonies to show that the bank of ghana is living up to expectations for posterity in this region and the country as a whole. beyond providing this beautiful edifice to reduce the stress in relation to inadequate office accommodation for workers, we have also made provision for a cash processing centre which is yet to have the full complement of machines. a state of the art electronic security and fire - fighting systems have been

s social responsiveness and would make every effort to provide employment opportunities to the local people. once again, i would like to appreciate everyone for the hard work, commitment contributions that led to this official inauguration ceremony today. and thank you for your attention. bis central bankers ’ speeches
indeed, something unique in the culture of central banking, which one cannot find anywhere else and which cannot be replicated. it is a source of pride to have chaired the board of the bis for more than five years. nowadays, it is common to hear that central banks are the only game in town. this, i do not know. but one thing i do know is that many disasters could have occurred in the last seven years if it had not been for your collective wisdom, courage and willingness to act and take risks in very extreme circumstances. the world owes much gratitude to the people who are here or represented today. bis central bankers ’ speeches

christian noyer : a central banker ’ s personal perspective on hedge funds introductory speech by mr christian noyer, governor of the bank of france, at conference on hedge funds, washington dc, 15 april 2007. * * * thank you all for coming. it's a pleasure and a privilege to have you all here to day. special thanks to the imf and john lipsky for organizing this event for us and with us. the purpose of our meeting is to present the special issue of our financial stability review on hedge funds. so i want to say a few words on why we embarked on such a project and how we did it. as you noticed, this issue of our review is mostly based on external contributions. some authors are with me to day and i also want to thank them. we are very happy that we could assemble such an eminent roster of contributors. let me say from the outset that we did not intend to reach a conclusion at this stage. the international community is working on this issue, in particular in the framework of the fsf. the main question is : how can we best reconcile keeping the positive inputs of this activity for financial markets functioning and innovation, while keeping the risks that may be generated for financial stability to a minimum. this is why there is a debate on hedge funds, which we think, is legitimate. we think it is our role as central banks to foster this debate, because we have that ultimate responsibility for financial stability. this being said, i may give some personal perspective and make, as an introduction a few remarks. why are we having this debate at the moment? if we look back five or six years ago, we can see at least three major changes that have contributed to a renewed interest in hedge funds activities : first, the sheer size and very fast growth of their activities and portfolios which have made them major participants in financial markets ( 40 % of the turnover of some major stock exchanges ; between 25 % and 50 % of credit derivatives turnover according to various estimates ). second, retail investors ( as opposed to high net worth individuals ) have – directly or indirectly – got increasingly exposed to hedge fund type investment, and, of course, risk. sometimes, such exposure might be not even known to the individual investor ( e. g. through pension funds ). i was surprised to learn that, in my own country, more than 20 billions euros are to day invested in funds of hedge funds or similar instruments. and third, fast and far
report http : / / siteresources. worldbank. org / extglobalfinreport / resources / 8816096 – 1361888425203 / 9062080 – 1364927957721 / gfdr - 2014 _ complete _ report. pdf 2014. vivina vishwanathan, 10 changes payments banks may bring in, aug. 2015, published in the livemint http : / / www. livemint. com / money / 34xcrmghz4exlqvhabyllm / 10 - changespayments - banks - may - bring - in. html bis central bankers ’ speeches

buffers that were built up earlier helped during the crisis. deleveraging during the crisis led to reversal of capital flows. india ’ s balance of payments came under pressure in q3 of 2008 – 09 due to capital outflows. it became necessary to draw down reserves to finance the shortfall and maintain orderly conditions in the foreign exchange market. this led to a corresponding contraction in the base ( reserve ) money. the reserve bank, therefore, ensured the necessary expansion in net domestic assets ( nda ) through conventional open market operations ( omo ) involving outright purchase of government securities in the secondary market as well as provision of liquidity through repos under its daily liquidity adjustment facility ( laf ). bis central bankers ’ speeches another instrument, which allowed the reserve bank to expand liquidity, was the unwinding of the market stabilisation scheme ( mss ) securities5. the unwinding of mss balances not only created the scope for adequate liquidity expansion by the reserve bank without expanding its balance sheet in any significant measure, but the timing of the unwinding could also be modulated in such a way that the large borrowing programme of the government was managed smoothly without exerting undue market stress. in addition, the reduction in cash reserve ratio ( crr ) of banks from 9 per cent to 5 per cent released 1. 6 trillion of primary liquidity. liquidity expansion achieved through unwinding of mss and reduction in crr ensured that the reserve bank ’ s balance sheet did not expand significantly, unlike in several other central banks. thus the liquidity buffer built up in the pre - crisis period helped to ease both foreign exchange and rupee liquidity. since india witnessed stronger growth ahead of the global recovery, capital inflow revived during 2009 – 10 and 2010 – 11 and was reflected in significant appreciation of the rupee. it was also supported by ample global liquidity conditions emanating from quantitative easing ( qe ). however, during the euro area crisis, deleveraging in european banking system again adversely affected capital flows to india towards the later part of 2011 – 12. in response, several policy measures were taken to encourage capital inflows, particularly giving greater access to international investors to domestic currency debt market. again, volatility in the financial market returned following the announcement in may 2013 of the us fed ’ s intention of likely tapering of qe. portfolio outflows, particularly from the domestic
##2s endeavours will continue to be a success, and i look forward to continuing our cooperation with the csds and with market participants. thank you very much for your attention. bis central bankers ’ speeches

their societies fairer. over the longer - term, by far the most important thing for young people is investing in education and skills. skills are a person ’ s passport through life, and in a fast - changing digital economy, the premium paid for skills is only likely to rise. equipping people for tomorrow ’ s world is the best way to raise incomes and reduce inequality. bis central bankers ’ speeches
december, a touch below the fed ’ s 2 percent objective. after assessing the recent data, my take is that the current shortfall in inflation from target as most likely due to transitory factors that will fade through 2018, pushing inflation back up to target. suffice to say, a deviation from our target of a few tenths of 1 percentage point, especially one i expect to fade, does not cause me great concern. against this economic backdrop, with a strong labor market and likely only temporary softness in inflation, i view it as appropriate that monetary policy should continue to be gradually normalized. an important component of this normalization was initiated in october, when we started to gradually scale back our reinvestment of proceeds from maturing treasury securities and principal payments from agency securities. with the balance sheet normalization plan set to remain on autopilot, barring a material deterioration in the economic outlook, the federal funds rate remains our primary tool for adjusting the stance of monetary policy. at our january meeting, the federal open market committee decided to maintain its target range for the federal funds rate between 1 - 1 / 4 percent and 1 - 1 / 2 percent. 2 in this range, monetary policy remains accommodative. i anticipate further gradual increases in the policy rate will be appropriate to both sustain a healthy labor market and stabilize inflation around our 2 percent objective. of course, it should go without saying that i will keep a close eye on economic indicators — and their implications for the outlook for inflation and real activity and adjust my views on appropriate monetary policy accordingly. i would like to wrap up with a word on the financial sector. the federal reserve and our colleagues at other agencies have now spent the better part of the past decade building out and standing up the post - crisis regulatory regime. at this point, we have completed the bulk of the work of post - crisis regulation. as such, now is an eminently natural and expected time to step back and assess those efforts. it is our responsibility to ensure that they are working as intended, and — given the breadth and complexity of this new body of regulation — it is inevitable that we will be able to improve them, especially with the benefit of experience and hindsight. 1 the views i express here are my own and not necessarily those of the federal reserve board or the federal open market committee. 2 see board of governors of the federal reserve system ( 2018 ), “ federal reserve issues fomc statement, ”

press release, january 31, www. federalreserve. gov / newsevents / pressreleases / monetary20180131a. htm. 2 / 2 bis central bankers'speeches
a range of measures addressed to smaller banks, with particular attention to better capturing and reflecting the characteristics of the community bank business model. these include elements of last year ’ s legislation, and other steps we have taken in the same spirit, intended to help community banking organizations survive and thrive : • we adjusted the scope of our supervisory assessments, our stress - testing requirements, our appraisal regulations, and the volcker rule — all aimed at the activities of large, complex institutions, not small local banks. 7 board of governors of the federal reserve system, “ federal reserve board finalizes rules that tailor its regulations for domestic and foreign banks to more closely match their risk profiles, ” news release, october 10, 2019, https : / / www. federalreserve. gov / newsevents / pressreleases / bcreg20191010a. htm. board of governors of the federal reserve system, federal deposit insurance corporation, and office of the comptroller of the currency, “ agencies issue final rule to exempt residential real estate transactions of $ 400, 000 or less from appraisal requirements, ” news release, september 27, 2019, https : / / www. federalreserve. gov / newsevents / pressreleases / bcreg20190927a. htm ; board of governors of the federal reserve system, commodity futures trading commission, federal deposit insurance corporation, office of the comptroller of the currency, and securities and exchange commission, “ agencies finalize changes to simplify volcker rule, ” news release, october 8, 2019, https : / / www. federalreserve. gov / newsevents / pressreleases / bcreg20191008a. htm ; board of governors of the federal reserve system, “ federal reserve board finalizes rules that tailor its regulations for domestic and foreign banks to more closely match their risk profiles, ” news release, october 10, 2019, https : / / www. federalreserve. gov / newsevents / pressreleases / bcreg20191010a. htm ; board of governors of the federal reserve system, “ federal reserve board invites public comment on proposal that would modify company - run stress testing requirements to conform with economic growth, regulatory relief, and consumer protection act, ” news release, january 8, 2019, https : / / www. federalreserve. gov /

centennial milestone in such a memorable fashion. bis central bankers ’ speeches
##cy requirements. see for instance kent c ( 2021 ), ‘ small business finance in the pandemic ’, speech at the australian finance industry association, sydney, 17 march. [ 21 ] see zaman and tanewski, n 4. [ 22 ] some of this compression likely reflects that since the tightening in monetary policy in 2022, rates on new loans for large firms increased by more than for small firms, as the three - month bbsw rate ( the reference for most business lending ) increased by more than the cash rate ( a key reference for small business loans ). [ 23 ] see connolly e and j bank ( 2018 ), ‘ access to small business finance ’, rba bulletin, september ; mccowage and nunn, n 19. blade disclaimer notice r e s e r v e b a n k o f au s t r a l i a

##3 ), ‘ recent developments in small business finance and economic conditions, ’ rba bulletin, september. alternatively, the oecd ’ s oslo manual refers to innovation as ‘ a new or improved product or process ( or combination thereof ) that differs significantly from the unit ’ s previous products or processes and that has been made available to potential users ( product ) or brought into use by the unit ( process ) ’. r & d is an important input variable for both innovation and exporting in australia ; see zaman m and g tanewski ( 2024 ), ‘ r & d investment, innovation, and export performance : an analysis of sme and large firms ’, journal of small business management, january. for small firms engaged in innovation, this finds expression in a wider set of investment activities than just r & d. see alphabeta ( 2020 ), ‘ australian business investment in innovation : levels, trends and drivers ’, january. see arora a, s belenzon, l cioaca, l sheer and h zhang ( 2023 ), ‘ the effect of public science on corporate r & d ’, nber working paper no 31899, and the references therein. see hambur j ( 2024 ), ‘ ip mergers in australia ’ ( forthcoming ) ; competition review taskforce ( 2023 ), ‘ tracking mergers in australia using working flows ’, treasury. majeed o and r breunig ( 2021 ), ‘ determinants of innovation novelty : evidence from australian administrative data ’, tax and transfer policy institute working paper no 15 / 2021, any crawford school of public policy, canberra ; zaman and tanewski, n 4. ip australia ( 2023 ), ‘ australian intellectual property report 2022 ’, australian government. [ 10 ] ip australia, n 9. [ 11 ] it should be noted, however, that the majority of patents in australia are filed by non - residents. [ 12 ] over the same period, the number of large firms has been increasing, while the number of patent - holding large firms has remained relatively stable. this large relative shift could be partly attributed to a decline in the rate at which patent - holding smes scale into large firms, and / or an increasing division of innovative labour within the innovation system. see dobsonkeeffe b and m falk ( 2024 ), ‘ the structural change in patenting behaviour in australia ’, ip australia analytical note ( forthcoming ).
for radical change ; and mr. hyatt went bankrupt. then alfred sloan, the man who later built general motors, asked his father to buy hyatt ’ s bankrupt business. unlike hyatt, sloan was willing to broaden his vision of the product. it turned out that the roller bearing was ideal for the automobile, which was just coming to the market. in two years sloan had a flourishing business ; for twenty years henry ford was his biggest customer. similarly, very few would know that novocaine was invented by a german chemist, alfred einhorn for use as general anesthetic in major surgery but it was not found suitable and ultimately it was used successfully by dentists. in fact, peter drucker had said that majority of successful new inventions or products do not succeed in the market for which they were originally designed. secondly, entrepreneurs believe that profit is what matters most in a new enterprise. but profit is secondary. it is the cash flow that matters. a business that grows fast devours cash. constant investments have to be made to just keep even. thirdly, when a business grows, the person who founded it gets too busy. rapid growth puts an enormous strain on the business. it outgrows its production facilities and management facilities. the quality falls, customers do not pay and deliveries are missed. the best way avoid a crisis is to create a management team. young entrepreneurs cannot pay to bring in a management team. so it is necessary to identify the core competencies of the people working with you. one may be good at marketing, the other, say in, customer service. they have to be utilized for their respective competencies to be able to deliver their optimum. this planning should take place well in advance. lastly, when the business is a success the entrepreneur needs to ask what the business needs at this stage and whether he is concentrating on the right things. while entrepreneurship starts by putting himself before business and questions that are at the bis central bankers ’ speeches forefront is “ what do i want to do? ” or “ what is my role? ”, but when it succeeds the right questions to ask is “ what does the business need? ” and “ do i have these qualities? ” as successful entrepreneurs, having gained experience and wisdom from past mistakes, going forward, it is necessary to ensure that the same mistakes are not repeated. first generation entrepreneurs can also take a lesson from the successful entrepreneurs to avoid committing the same mistakes. support

revive businesses and rejuvenate the financial system, benefiting both the community and the institution. i sincerely hope that the outcomes of this conference will not only benefit the participants but will also positively impact on the broader economic ecosystem. thank you. 1 asset reconstruction company ( india ) limited was the first arc to be set up in 2002. as at march 31, 2024 there were 27 arcs registered with the reserve bank of india 2 securitization and reconstruction of financial assets and enforcement of security interest act, 2002 4 / 4 bis - central bankers'speeches
expertise in tenders and contracts. even in ppp projects, it is best if the government is the one that acts to complete the statutory processes such as obtaining building permits, municipal permits, environmental quality, etc. the government has an advantage here. 1 / 1 bis central bankers'speeches

move forward, there needs to be a collective change of attitudes and mindsets – particularly towards things like corruption, good governance, and consideration for the public good. here there is good news and bad news. on the positive side, mindsets and attitudes are things within our control. the bad news is that changing attitudes and mindsets is perhaps one of the most difficult things to do. as leo tolstoy once wrote “ everyone thinks of changing the world, but no one thinks of changing himself. ” for many of you here who will go on to serve in public policy, i urge you to embrace this challenge and give you my wholehearted support. today is a legacy of the past, but history is not destiny. you can make a difference and we need more people who devote themselves to do so. thank you very much for your attention. bis central bankers ’ speeches
mr. ingves discusses retail trade, emu and the euro with respect to sweden text of a speech by mr. stefan ingves, a deputy governor of the bank of sweden, held on 14 / 4 / 97. first a word of thanks for the invitation to speak about emu. less than twelve months have passed since the riksbank last attended a meeting of the swedish retail federation with information about emu. perhaps some of you were present on that occasion. whereas the issue of emu was still fairly new a year ago and not much discussed by most people, the situation today is different. in the interval we have experienced a marked increase both in what people know about emu and in their interest in the matter. this naturally has to do with the rapid approach of the starting date. today the move to stage three lies fewer than 500 working days ahead. moreover, there is no mistaking the strength of the political determination in europe to start on time. this was evident not least at the recent ecofin meeting in the netherlands when the eu finance ministers agreed on several important matters such as the stability and growth pact and erm2. today i shall be outlining the process leading up to stage three of emu and the changes that we already know will occur. i will also say something about emu's consequences for retail trade. before considering practical aspects of emu, permit me to begin with a look at some general economic features. sweden should join from the start the riksbank is in favour of sweden participating in the euro area right from the start in 1999. the reasons for this have been spelled out in our submission on the calmfors report, for example. as regards the economic arguments, we do not believe that, by remaining outside the euro area, sweden would incur particularly large costs for stabilisation policy ; in the event of economic shocks, it is structural changes rather than monetary policy that should be used in the first place to counter rising unemployment, for instance. on the political side, we share the report's assessment that the political costs of not participating would be substantial ; as an outsider sweden would not belong to the inner circle of countries that will be deciding europe's future. it should also be realised that countries which belong to the euro area from the start will have more influence on how the european central bank ( ecb ) develops in the crucial early years, when the forms for its work are being established. our possibility of influencing

that we all do what we can to find out more about these complex matters.