samchain/econo-pairs-v2 huggingface dataset:
solutions to apply the first of the general principles for international remittances services, namely : “ the market for remittances should be transparent and have adequate consumer protection ”. in line with this principle, many countries are developing national remittance price comparison databases in order to increase market transparency, providing information to migrants who want to send money home that should enable them to acquire the information essential to informed choice. at present the market for remittances is not always fully transparent. two issues are particularly relevant : total price and speed of service. the cost of a money transfer is not actually easy to calculate due to two variable components, i. e. transfer fee and exchange rate. consequently, the consumer may not know exactly the amount of money the receiver will get. the difficulty is compounded for migrants, who due to poor financial education, language barriers and time constraints, may have difficulty in accessing certain services, in particular bank services. this may result in the impossibility of comparing alternative remittances services and finding the most economical. the ready availability of information fosters competitive markets, as demand will tend to concentrate on the most efficient remittance service providers, those offering quick service at lower cost. the national websites compliant with the world bank standards provide all the information required for informed decisions : the fees charged, the exchange rate applied and the time necessary for the money to be available. the bank of italy welcomes the creation of a national price comparison website and will support its management, facilitating data collection and providing information on the most significant corridors and on the latest updates in the retail payment market. this initiative is consistent with the overall approach taken by the bank in performing payment system oversight, whose aim is to promote efficiency. in this particular market efficiency is all the more important in view of the enormous impact that remittances may have on the economy of an emerging country. the analysis of the pricing of a payment instrument is one of the key indicators of a market ’ s performance : when the price reflects the cost of the payment instrument, the market is efficient. efficient funds transfer, with no waste of time or money, enables migrants to channel their earnings to productive ends. in italy the regulatory framework on transparency in the payment market will be enhanced by the payment services directive. the objectives of the new legal framework are to heighten competition in the retail payment market, strengthen user protection and develop more efficient payment services. a special set of provisions is dedicated to transparency

). conference paper altinoglu ( 2023 ). conference paper farias and suarez ( 2023 ). conclusion • i conclude by again thanking the keynote speakers, session chairs, presenters, discussants, and all the other participants for being here today. i wish you all two days of very fruitful exchange and discussion.
peter nicholl : recent banking sector developments in bosnia and herzegovina speech by mr peter nicholl, governor of the central bank of bosnia and herzegovina, at the ceremony of the taking over of hrvatska postanska bank by raiffeisen bank, mostar, 5 may 2001. * * * i want to congratulate the two banks, raiffeisen and hrvatska postanska, on the step they are taking today. they are taking part in a process the central bank of bh has been promoting for some time now – the consolidation and strengthening of the commercial banking sector in bh. this process is very important. an efficient banking system is a crucial part of market economy. it encourages savings and it promotes investment and employment by lending those savings for business development, housing and other purposes. the year 2000 will be seen as the year in which the banking sector in bh finally began to change for the better. i will mention just a few of the highlights. first, the payments system underwent fundamental reform. bh now has a modern european - type payments system. second, minimum capital requirements for banks were increased and will increase further. third, it become possible for a bank registered in one entity to operate branches in the other entity. five banks are already doing so, and more will follow. fourth, a limited deposit insurance scheme has started which should help return citizens confidence to the banks that qualify. so far, only four banks have been admitted to the scheme and it is only operating in the federation. last, but not least, more foreign banks commenced operations in bh in 2000, either by applying for licenses directly or by purchasing an existing bh bank. increased foreign competition will be very good for the bh economy. it will give depositors more choice and will force the local banks to improve the range and quality of the services they provide if they want to survive. one can already see these effects occurring. there is still a long way to go before bh has a banking sector that can play the major role the banking sector plays in most other countries in europe. but 2000 will be seen as the year in which the bh banking sector finally began to move in the right direction. it is certain that the speed of change in the banking sector will accelerate even more in 2001. the overall winners from the improvement in the banking sector will be the customers of banks and the economy of bh. today ’ s event is part of the acceleration of

the transformation of the bh banking sector that i have refereed to. raiffeisen opened in sarajevo just last july, only nine months ago. they have since opened a branch in banja luka and are in the process of opening more branches in the rs, in brcko and in many other towns in the federation. today, they are taking a big step into herzegovina by buying hrvatska postanska bank. they have very quickly become a bank that is operating over the whole territory of bh as well as in most of the neighboring countries. i congratulate them on the major role they are playing in transforming and strengthening the banking sector in bh and wish them every success with their new partner.
commission for creditworthiness checks. banks should continue to be supervised in a technology - neutral manner – without duplicating any regulation, and without duplicating supervisory processes. but let me circle back to the current dora proposal : the oversight framework for critical ict third - party service providers does indeed complement the supervisory approaches taken within the single supervisory mechanism ( ssm ) and at the national level. while the ssm focuses on the risks that financial institutions take when they outsource activities to ict third - party providers, dora enables the european supervisory authorities ( esas ) to access critical ict third - party service providers directly and sanction them if necessary. for this task - sharing arrangement to work, there are three key requirements for dora i would like to emphasise from my point as a supervisor : 1. a well designed approach ensuring supervisory efficiency ; 2. closer cooperation among authorities and 3. and clear consistency of rules. first, it is key that we always bear in mind the objective of supervisory efficiency when designing dora. the dora proposal raises some crucial points regarding the interplay between ( traditional ) banking supervision and the new european oversight framework. we welcome the aim to streamline and harmonise any overlapping regulatory requirements or supervisory expectations. if the esas increasingly engage in supervising cloud providers, they must ensure that they do so in an efficient manner and without duplicating any work. one issue should be examined only once and by just one authority. this is important for us as supervisors, as we have a duty to deploy our staff and resources efficiently. and of course, this is important for you, the banks, as well : you don ’ t want to be supervised twice for the same issue. i am sure this is also true for cloud service providers. this implies that we must clearly define the responsibilities of both banking supervisors and the esas in order to avoid a clash of competencies. under the proposed regulation, the esas will perform operational oversight functions for critical ict third - party service providers, with the eba designated as the lead overseer and in close cooperation with eiopa and esma. this includes on - site inspections, ongoing oversight and recommendations for action. by contrast, banking supervisors are to stick to their mandate of supervising financial institutions. supervision of critical ict third - party service providers therefore falls only indirectly, if that, within the scope of banking supervisors. second, closer cooperation among authorities is needed. if the esas directly supervise critical ict third -

work together and help dora set the standards for rules and oversight to make digital freedom and digital resilience possible. thank you for your attention. 1 see newsletter on cyber security from bis : www. bis. org / publ / bcbs _ nl25. htm 5 / 5 bis central bankers'speeches
institute will continue to make a valuable contribution in future - to ensure an even better understanding of the swiss economy. bis central bankers ’ speeches

demands that the snb hold at least 20 % of its assets in gold, that it be prohibited from selling its gold reserves and that all gold reserves be physically stored in switzerland itself. the snb does not generally comment on any political initiatives. however, the gold initiative has a very direct impact on the snb ’ s capacity to act. this is why we are taking the opportunity today to present our viewpoint for the first time on the demands of the initiative. the initiators see a high level of gold reserves as a guarantee for currency stability. they fear that the swiss franc will decline in value and that price stability will be threatened if a large proportion of the balance sheet does not consist of gold holdings. they are also concerned that the snb ’ s gold reserves held abroad are not secure and will not be accessible in critical situations. we share the objectives the initiators put forward, such as maintaining currency and price stability and ensuring both the snb ’ s capacity to act and its independence. however, the measures proposed to this effect are not suitable ; in fact, they are even counterproductive. instead, they are based on misunderstandings about the importance of gold in monetary policy and would compromise the snb ’ s capacity to act in pursuing its monetary policy, which would run counter to the objectives envisaged. in other words, these measures would, in certain situations, considerably hinder the snb in fulfilling its monetary policy mandate and be detrimental to switzerland. we therefore consider it our duty to point out the serious disadvantages of the initiative already at an early stage. having said that, however, the snb is interested in a dialogue on any questions connected with the initiative. with this in mind, allow me to make a few remarks. the snb has the statutory mandate to ensure price stability, while taking due account of economic developments. the monetary policy operations that must be carried out in fulfilment of this mandate have a direct impact on the snb ’ s balance sheet. in order for the snb to fulfil its mandate at all times, its capacity to act in monetary policy matters must not be compromised by rigid rules on the composition of its balance sheet, which would be the case with the required 20 % minimum share of gold and the ban on the sale of gold. it was precisely the latest crisis that demonstrated how important it is for the snb to have the flexibility to expand its balance sheet, if needed. in future,
is the continuous education of businesses and consumers to encourage the desired change in payment behaviour that will deliver important efficiency and productivity gains for our economy. 4 / 5 bis central bankers'speeches let me conclude by congratulating myclear and the winners of today ’ s awards ceremony. i hope that today ’ s event will inspire greater achievements in accelerating malaysia ’ s migration to epayments. 5 / 5 bis central bankers'speeches

leading role in shaping the development of the country ’ s payment systems, in line with its statutory mandate to promote safe, efficient and reliable payment systems. we have taken important steps to correct price signals associated with the use of different payment instruments, and created market mechanisms to better align incentives at the institution level. along the way there was resistance, but we had experienced that left to its own devices, the market is not capable of making strategic changes necessary to drive payment efficiency, financial inclusion and competitiveness. but, cooperation is key. 1 / 5 bis central bankers'speeches indeed, the various measures that were implemented have been instrumental in accelerating the e - payment agenda forward, only because of the cooperation of the industry, sometimes with a bit of nudging. but truth be told, we have been able to achieve so much. today, the payments industry is no longer the exclusive domain of banks. the advent of fintech driven by the increasingly inexpensive and pervasive internet and mobile technology has encouraged the entry of more agile non - bank players as potential disruptors or collaborators of the incumbent players. this has set the stage for an exciting new era in payments, an era in which the industry is expected to take on a larger role in delivering a more robust and efficient payments system for malaysia. the bank will facilitate this in three key ways : i. first, through policy initiatives to encourage collaborative competition or ‘ co - opetition ’ ; ii. second, by further strengthening industry alignment ; and iii. third, by supporting more inclusive governance arrangements for the development of the payment system. policies to promote co - opetition as a key enabler for greater efficiency, competition and innovation network effects are critical to an efficient payment system. the larger the network of a payment system, the more valuable it is to users of the payment system. instead of duplicating resources to build costly and overlapping payment infrastructures, the industry should collaborate at the infrastructure level to improve the network architecture and achieve this more quickly, thus benefitting from economies of scale and new opportunities to serve customers better. competition should continue to exist at the product level, where industry players compete to deliver a positive user experience through value - added product offerings. this would not only avoid market fragmentation, but also allow a more optimal use of scarce industry resources. such ‘ co - opetition ’ is not new in malaysia. we used to have three atm networks in the country. in 1997, the three atm networks were consolidated
##ize the financial market, and strive to build a mutually beneficial relationship between china and its foreign partners. thank you.

that they plan to consolidate the fiscal deficit to no more than 3. 1 % of gdp for fiscal year 2003. this is a good gradual reduction from 3. 6 % last year. the overall government debt is currently still at 54 % of gdp, well under the cap of 60 % announced in 2001. the rapid recovery of the general economy also helped boost tax revenue collection by as much as 10 % in 2002, and looks set to repeat itself in 2003 as well, helping to narrow the budget deficit. ladies and gentlemen, no one can plan for 2003 with absolute certainty. we are all following the news minute by minute, and even the best laid out plan for this year must contain several scenarios to cover for contingencies. but the one certainty i can assure you is that the macro economic policies in thailand that aim for stability and sustainable growth will continue.
have raised in my speech tonight serve a range of objectives ; and each of them is worth pursuing with ambition. thank you very much for your attention. bis central bankers ’ speeches

ernst welteke : a european perspective on the world economy address by mr ernst welteke, president of the deutsche bundesbank, at the 13th annual hyman p minsky conference on the state of the us and world economies “ economic policy for sustainable growth ”, new york, 15 april 2003. * * * ladies and gentlemen! at times like these, where transatlantic ties are under strain, i regard it as both an exceptional honour and a welcome opportunity to be able to present my european view of the world economy here at the 13th annual hyman p minsky conference on the state of the us and world economies. our transatlantic dialogue must not be interrupted, even when our views differ in important respects. i am a member of the german - american friendship organisation “ atlantik - brucke ”. in february, our organisation ran an ad in the new york times entitled “ a message from germany ”. its essence reads : “ for the overwhelming majority of germans, the relationship with the united states remains of vital importance. current differences of opinion between governments over the question of iraq must not be allowed to sever that bond ”. i would like to confirm that view today here in midtown manhattan. in the following, i will first comment on the present state of the world economy, which is characterised by unusually high uncertainty. afterwards i would like to give you some facts about the german economy. finally, i will try to spell out the european view of how the fundamentals must be set for sustainable growth to take place. 1. the present state of the world economy 1. 1 uncertainty abounds the world economy has not been in exactly very good shape these past few months. the ongoing war in iraq is weighing on the world economy. financial markets are fickle ; confidence among businesses and consumers remains subdued. we must, however, not be fooled into regarding the war in iraq as the sole source of uncertainty or the predominant issue for the world economy. uncertainty was around before that war was on the horizon, and uncertainty will stay on for a while even after a - hopefully fast - end to the war. what is more, uncertainty stemming from geopolitical strife seems to be deflecting our focus from some fundamental imbalances. redressing these imbalances is a precondition for a return to sustainable growth. overinvestment incurred during the millennium boom is being unwound only slowly. vast spare capacity forms the backdrop for weak capital spending.
the exchange rate mechanism of the eu, for at least two years, and third, after the sustainable fulfilment of all the convergence criteria laid down in the treaty, the new member states will adopt the euro. throughout the process leading to the introduction of the euro, the new member states ’ economic situations and their policy strategies will have to be assessed on a case - by - case basis. the role of erm ii in this process, first, is to help participating member states orient their policies to stability and to foster economic convergence. second, participation in erm ii without severe tensions for at least two years is one of the convergence criteria. finally, entry into the euro area will be based on the sustainable fulfilment of the maastricht convergence criteria. these criteria will be applied to future euro area entrants in the same way they applied to euro area countries. it may take quite a while before new member states will be in a position to fully participate in emu. a fair share of realism is called for to avoid disappointment. in the long run, such an equitable and strict procedure will be to the advantage of all member states of the european union. in concluding, i would like to reiterate that in many respects, the euro has proved to be a driving force for europe ’ s continued political integration and economic reforms. the euro is regarded as an important token of identity for a modern, dynamic and open europe. the euro provides a stable anchor in unfortunately not so stable times. but the euro can only shield us from external shocks within limits. even though the euro has already triggered considerable fiscal and structural reforms, we must not relinquish our endeavors to make the euro area economy more efficient and productive.

. monetary policy decision - making by committee : why, when and how it can work. mimeo. small, d., m. gelfand, l. babcock, and h. gettman ( 2007 ). who goes to the bargaining table? the influence of gender and framing on the initiation of negotiation. journal of personality and social psychology 93 ( 4 ), 600 - 613.
to a special purpose limited liability company, maiden lane ii, in which aig would hold a $ 1 billion first - loss position. maiden lane ii then purchased, at market prices, rmbs with a par value of $ 39. 3 billion from certain aig domestic insurance company subsidiaries. this facility allowed aig to terminate its domestic securities lending program and to repay fully all outstanding amounts under the securities borrowing facility, which was then terminated. the federal reserve also took steps to help address the drain of liquidity on aig arising from potential collateral calls associated with credit default swap contracts written by aig fp on multi - sector cdos. the new york fed made a secured, non - recourse loan in the amount of $ 24. 3 billion to another special purpose limited liability company, maiden lane iii. maiden lane iii then purchased, at market prices, multi - sector collateralized debt obligations with a par value of approximately $ 62 billion from credit default swap counterparties of aig fp in return for the agreement of the counterparties to terminate the credit default swaps. aig provided $ 5 billion in equity to maiden lane iii to absorb any potential future losses on the cdos held by maiden lane iii. the federal reserve loans to maiden lane ii and iii have a term of six years and are secured by the entire portfolio of each llc. iii. ongoing investment management of the maiden lane ii and maiden lane iii portfolios the panel has asked us to discuss the new york fed ’ s “ strategy for divesting its aig holdings. ” we must emphasize that the new york fed did not ever decide to invest in aig. we cannot make such an investment. our role has always been that of lender, although we are a lender that re - structured our original fed facility to accommodate aig ’ s changing circumstances. the new york fed is the managing member of maiden lane ii and maiden lane iii, and, as set forth above, has control rights over the rmbs and cdos that were acquired by these llcs. blackrock financial management inc., an investment manager, has been retained to serve as the new york fed ’ s agent in managing the rmbs and the cdos. the management objective for both is maximization of long - term cash flows to pay the new york fed ’ s senior loans to the llcs ( subject to certain fees, costs, and reserves that are senior to the senior loans ), and refraining from investment

connecticut as compared with the nation. connecticut home prices grew less than the nation during the housing boom and subsequently declined less during the housing downturn ( chart 7 ). as a this number is the reported number of newly initiated foreclosures ( 383, 000 ) adjusted to reflect the coverage of the survey ( 64 percent of the total market ). bis central bankers ’ speeches result, the cumulative change in connecticut house prices since january 2000 is now very similar to the nation as a whole. bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches