samchain/econo-pairs-v2 huggingface dataset:
amando m tetangco, jr : rcbc – banking on emerging corporates speech by mr amando m tetangco, jr, governor of the central bank of the philippines ( bangko sentral ng pilipinas ), at rcbc ’ s ( rizal commercial banking corporation ) relaunching of its program for small and medium enterprises, makati city, 26 march 2008. * * * ambassador yuchengco, chairman dee, president tan, other officers and staff of rcbc, special guests, good evening. in many countries, including the philippines, small and medium enterprises constitute the backbone of the economy. as such, initiatives that provide meaningful support to smes represent welcome news indeed. it is in this context that i view rcbc ’ s re - launch of its sme lending program. through the years, consolidated lending of the banking sector to smes has shown considerable growth. in 1991, the year republic act no. 6977 or the magna carta for small enterprises took effect, credit to smes amounted to p17 billion. by december 2007, or 16 years later, total loans extended to smes have reached p352 billion. this is roughly 21 times more than the 1991 total. we at the bangko sentral ng pilipinas acknowledge the banking sector ’ s commitment to support smes. as a whole, the banking sector has consistently exceeded the mandatory credit allocation for smes under the magna carta for small enterprises. although this law lapsed in august last year, congress has already ratified the bill extending and enhancing the sme law. we expect this to be signed into law in the very near future. in the meantime, the bangko sentral ng pilipinas encourages banks to continue supporting smes. it is in this light, that we commend rcbc for taking a leadership role in promoting and allocating resources for its sme lending program. as one of the major banks in our country, rcbc is bound to influence others to take a similar stance. to me, support for smes translates directly to a vote of confidence for our people and our country. recognized as the biggest employers in our country, smes account for about 80 % of employment generation. if, therefore, we are able to keep the sme sector on a consistent growth track, we would be able to accomplish broad - based and sustained growth for our country. equally important, we would have a strong domestic economy that

continue to pay close attention to the evolution of risks as well as to economic and financial developments in the canadian and global economies.
muhammad bin ibrahim : outstanding contributions to the development of islamic finance in malaysia welcoming remarks by mr muhammad bin ibrahim, governor of the central bank of malaysia ( bank negara malaysia ), at the royal award for islamic finance gala dinner and award presentation, kuala lumpur, 14 november 2016. * * * bismillahhirahmanirrahim. mengadap seri paduka baginda yang di - pertuan agong almu ’ tasimu billahi muhibbuddin tuanku alhaj abdul halim mu ’ adzam shah ibni almarhum sultan badlishah, seri paduka baginda raja permaisuri agong tuanku hajah haminah. ampun tuanku beribu - ribu ampun, sembah patik mohon diampun. patik serta seluruh dif - dif jemputan pada malam ini dengan penuh hormat dan takzimnya merafak sembah menjunjung kasih atas limpah perkenan seri paduka baginda tuanku berdua berangkat bercemar duli ke majlis makan malam anugerah diraja kewangan islam tahun 2016. ampun tuanku. seterusnya patik ingin memohon perkenan seri paduka baginda tuanku untuk menyampaikan ucapan kepada para hadirin dalam bahasa inggeris. kebawah duli yang maha mulia paduka seri sultan nazrin muizzuddin shah ibni almarhum sultan azlan muhibbuddin shah al - maghfur - lah, sultan of perak darul ridzuan, and duli yang maha mulia raja permaisuri perak tuanku zara salim. your royal highnesses, your excellencies, distinguished guests, ladies & gentlemen. it is my pleasure to welcome the distinguished audience to the gala dinner for the royal award for islamic finance ( raif ) tonight, which is held to honor an individual for outstanding contributions to the growth and development of islamic finance. allow me to express our utmost gratitude to his majesty seri paduka baginda yang di - pertuan agong and her majesty, and his royal highness sultan of perak darul ridzuan, the royal patron of

just their academic and working credentials that merit them this award, but it is also their relentless pursuit of al - falah ( success ) through their drive, knowledge and wisdom. i believe that this year ’ s raif winner and past winners have paved the path for future talents of 2 / 3 bis central bankers'speeches islamic finance to embark on breakthrough ideas and thinking. it is for this very reason, that this year ’ s award is conferred to the visionary talents that had made impactful and significant contributions to islamic finance. on that note, i would also like to take this opportunity to record my appreciation to all steering committee members and the panel of jury of the royal award for islamic finance 2016, led by yang amat berbahagia tun musa hitam for their unwavering support and commitment. ampun tuanku, demikianlah sahaja sembah ucapan patik, dan sebelum mengundur diri, patik sekali lagi merakamkan ucapan menjunjung kasih, kepada seri paduka baginda tuanku di atas limpah perkenan berangkat ke majlis pada malam ini. 1 thomson reuters estimation, june 2016. 3 / 3 bis central bankers'speeches
position for autonomous central banks.

pages 189 – 214. bis central bankers ’ speeches there should be at least as many independent and effective policy instruments as there are independent policy targets. by an instrument i mean any policy setting which can be changed : such as bank rate or the required amount of capital to be held by firms. to be satisfied, the tinbergen rule requires that the policy tools being used must each have an impact on at least one of the objectives in sufficient size to make a substantial contribution towards achieving it. and that the pattern of effects of one tool on all objectives cannot be perfectly reproduced by changing any other tools singly or in combination ie the policy tools are each unique in their precise pattern of effects. additional conditions are necessary if the objectives are assigned to different policy making bodies. so i will add a number of other sufficient conditions to cover this case. • each policy tool should be assigned to meeting a target that it is relatively effective upon ( ie to exploit comparative advantage ). this may seem obvious, but is less so if one is uncertain about a particular policy ’ s effectiveness. if a policy is not very effective on its primary objective, one of the consequences could be unnecessarily large policy changes. • the authorities need to be able to co - ordinate or communicate in some way about what they are doing and why. otherwise one can show that there is a risk in some circumstances of a dynamic being created which is destabilising ( eg where one authority tries to offset the effects of another in turn ). • and perhaps most importantly, the targets need to be achievable & coherent as a set. let me explore this last point briefly by taking an extreme case. if the mpc were to be set a target of absolute zero unemployment, that would be physically impossible and however hard they tried, it would not be achieved. if they did try hard nevertheless, it would probably lead to an over - expansion of the economy that threatened both financial stability and prudential safety and soundness. in a less extreme case one could imagine an mpc target for money supply growth which, given time - varying shocks to the velocity of money, might not be consistent with the other objectives. applying these conditions to the uk authorities so the first question i want to ask is whether the mpc, fpc and pra board have been set an achievable and coherent set of targets? is it possible to achieve cpi inflation at 2 %, financial stability, and
be done by an eu member state that is not yet member of the euro area. from the central bank perspective this involves : ( i ) a sound banking sector ; ( ii ) fiscal consolidation ; and ( iii ) structural reforms. good progress has been made in bulgaria with regard to the first two areas. a comprehensive asset quality review in 2016 helped restore confidence in the banking sector. bank lending is recovering, the overall profit is near historical highs and a process of market - based consolidation in the sector is underway, including a recent deal with a strategic investor from the euro area. furthermore, the public finances of bulgaria remain sound and the successful fiscal consolidation is illustrated by the budget surplus last year and the third lowest government debt to gdp ratio in the eu. as for the structural reform agenda, much more remains to be done in order to resolve remaining issues and help attract increased capital flows from the eu. 1 / 2 bis central bankers'speeches we at the central bank have already planned the next steps, which will build on recent progress. among other things, we plan to further strengthen our banking supervision, develop the crisis management framework for the banking sector, and reduce the level of nonperforming loans. to conclude, decisive actions are required at both the eu and national levels to address the current saving - investment mismatches within the eu. while expending the available toolkit is important, priority should be given to resolving the remaining underlying issues with regard to banking and financial integration, real convergence, and quality of project management. 2 / 2 bis central bankers'speeches

march 2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending regulation ( ec ) no. 924 / 2009 4 / 4 bis - central bankers'speeches
rules should at least protect public investment. the third point on my european to - do list is to improve coordination in other areas of economic policy. to effectively tackle the divergent competitiveness in the euro area, all member states must play their part. less productive economies need to implement reforms and investments that increase their productivity and competitiveness. this has obvious benefits for exports, economic growth and employment. and it decreases the productivity gap with more productive economies. these reforms are, however, more likely to succeed if the stronger economies also do their fair share. large and persistent trade surpluses often hide underlying problems, such as corporate savings retained for tax reasons, or stagnant wage growth. reforms aimed at increasing households ’ purchasing power would therefore not only increase welfare in the more competitive member states, but also make life easier for the more vulnerable ones. but let ’ s be realistic : such reforms will take time. even with the right policies in place, it will still take decades for many member states to get to where they need to be. in the coming years, countries with high levels of public debt will unlikely be able to weather another serious downturn without implementing far - reaching budget cuts and tax hikes. these countries then risk falling even further behind. which would again overshadow our objective of creating a stronger and more coherent monetary union. the best way to deal with this, is something we will have to continue reflecting on. 4 i certainly do not have all the answers. but i do believe that the agenda i have outlined would put us on the way to a stronger currency union. with european governments investing in sustainable growth, both jointly and individually. through more closely aligned economic policy. more european integration is not a popular message nowadays, i realize that. we could also choose to abstain from further european integration. that ’ s also an option, certainly. but there is a price to pay for that option. the price involves continued economic divergence between euro area member states, more debt crises, more emergency support and lower levels of prosperity. would the euro survive such a scenario? all the same, we are living in a different economic and monetary union than we imagined back in the 1990s. with more sharing of risk. and more harmonization of policy. in recent years we have pushed the boundaries of the treaty. there is no guarantee we will not have to do that again. so it is equally crucial to reaffirm the political mandate. it is up to politicians to state their

conference has only further matured. it has grown both in audience and in breadth of topics. and this year ’ s program is, once again, testimony to that. i wish you all an inspiring two days. 1 national bank of the republic of north macedonia, accessed on 7 december 2021, rnm fintech survey final report clean 211220. pdf ( nbrm. mk ) 3 / 3 bis central bankers'speeches
will, under the chairmanship of mr. colin powell and the participation from all delegates, as usual, be an informative, constructive and fruitful one. again, allow me to say once more welcome and thank you. please enjoy yourselves in macao after all the hard work.

anselmo l s teng : recent economic and financial developments in macao opening speech by mr anselmo l s teng, chairman of the monetary authority of macao, at the annual meeting of the offshore group of banking supervisors, macao, 30 october 2007. * * * mr. powell, chairman of ogbs, dear delegates, distinguished guests, ladies and gentlemen, welcome to macao! on behalf of the special administrative region government, i wish to express our gratitude to members of the ogbs for choosing macao to be the venue to hold its annual meeting. apart from all the hard work that lies ahead, please spare some time to appreciate the excitement and nostalgia provided by this fascinating city. macao is no doubt in the lime light. after the lacklustre years before and in the wake of the new millennium, economy picked up in 2004 in which gdp jumped by 28. 4 % which was mainly attributed to the opening of our gaming right and the “ individual traveller ” scheme of the mainland. 2005 saw a consolidation of 6. 9 % growth. 2006 achieved flying colours again with a growth of 16. 6 %. in the first half of 2007, we achieved a gdp growth of 28. 9 %. the burgeoning tourism services industry, which is undergoing diversification, has been the locomotive of our thriving economy in the past years. the booming economy enables the banking sector to continue to burgeon. banks in macao made a total profit of mop3. 9 billion in 2006. a 21. 7 % growth in the first 6 months of 2007 was witnessed. both assets and deposits also grew by double digit while non - performing loan ratio stands at 0. 9 %. against such a backdrop, the current capital adequacy ratio of the whole sector is maintained at a high level of around 16 %, doubled the required 8 % benchmark set by the basle committee on banking supervision. the financial sector of macao contributes about 10 % to gdp. the sector is dominated by banks and insurance companies. at the moment, there are 27 banks operating in macao of which 3 are operating under offshore regime. apart from local participants, you will find capitals provided by investors from china, hong kong, portugal, the us, the uk, france, singapore and chinese taiwan. in fact, overseas capitals account for the majority in our banking sector. doubtless, from a global perspective, the financial sector of macao is highly internationalized.
speech payments in a digital world speech by christine lagarde, president of the ecb, at the deutsche bundesbank online conference on banking and payments in the digital world frankfurt am main, 10 september 2020 i ’ m honoured to be speaking this evening at the deutsche bundesbank ’ s conference on banking and payments in the digital world. a little over a century ago, george bernard shaw said that “ money is the counter that enables life to be lived socially ; it is life as truly as sovereigns and banknotes are money ”. so money facilitates transactions and relationships and is an expression of sovereignty. this is just as relevant in today ’ s fast - moving world. in the digital age, innovation in payments enables us to interact in easier, faster and cheaper ways. but this innovation also comes in new forms – based on private payment systems or using digital currencies – which create new risks and pose important questions of sovereignty. these issues go to the very heart of the ecb ’ s mandate. they raise new questions about whether the ecb should drive initiatives to integrate retail payments in europe, and even whether it should issue a digital euro. we have a duty to play an active role in balancing the risks and benefits of innovation in payments, so that money continues to serve europeans well. today i want to address two major trends that are shaping the global payments landscape : the first is changing consumer preferences and the second is competition to dominate payments on a global scale. and i will argue that we cannot afford to be bystanders to these trends - the eurosystem must actively advance european initiatives to strengthen european payments. 1. two trends in global payments the first major trend is changing consumer preferences. the digital revolution is transforming our lives in fundamental ways. more than four in five europeans regularly use the internet, up from one in five two decades ago. this has had a profound impact on how we communicate, how we spend and how we work. the coronavirus ( covid - 19 ) pandemic has accelerated this trend towards digitalisation. e - commerce, which has grown steadily in recent years, increased by almost a fifth in terms of volume of sales between february and june 2020, while in - store sales declined. as our lives have suddenly gone digital, so have our payments : there has been a surge in online payments and a shift towards contactless payments in shops. so it is natural for people to expect and embrace changes in the way they pay. according to the

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washington next fall to attend the third such conference, hosted by the federal reserve. we hope these conferences will inspire further work on these important topics and will highlight the issues that researchers are addressing, and more broadly promote the conversations we are having in the economic and finance professions. thank you for your work, and i look forward to seeing you at the federal reserve next year. 1 1. see www. federalreserve. gov / aboutthefed / diversityinclusion. htm 2 2. www. federalreserve. gov / publications / minority - women - inclusion. htm 2 / 2 bis central bankers'speeches

pre - existing ones, which would afford greater certainty to trade relations while reducing their cost, would also help attain this goal. to conclude, i believe that, by sharing experiences and outlooks, fora such as this one help gain a deeper understanding of the challenges that we, the economic and monetary authorities, must face. i hope that you are able to benefit fully from the discussions held over the coming days and wish you a pleasant stay in seville.
regulatory approach, offering a level playing field for incumbent banks and new market entrants alike. 39. so i call on all of you to put your most innovative ideas, your best technology, and your brightest people to work on fintech solutions for our city. 40. i think you will find plenty of opportunities. and i believe that, together, we will take banking in hong kong to new heights. 41. so join us and be part of this exciting fintech journey. thank you very much. 4 / 4 bis central bankers'speeches

. with more data and more analytical tools at our disposal, we should ensure that our data infrastructure continues to improve. let ’ s consider where we are today. 18. to begin with, valuable and rich data are scattered across different sectors and entities. it ’ s often hard to access these data – and it ’ s hard to verify their validity. 19. what is more, information moves between data providers and banks via a whole host of bilateral, one - to - one connections. those connections lack compatible protocols and standards. that makes data sharing inefficient and difficult to scale. 20. all of this makes it hard for bankers to collect holistic information from customers about their business or financial activities when they want to provide credit or related services. and that creates real impediments to banks ’ ability to better serve their customers. 21. impediments for banks often mean painful consequences for customers, especially small and medium - sized enterprises. when banks can ’ t perform credit assessments based on up - to - date business data, they may instead require collateral such as property before making a loan. this is a longstanding problem with sme financing. 22. trade finance is another area of concern. it is often hard for banks to access the trade and customs records of importers or exporters. that can make it difficult for banks to conduct credit assessments – and difficult for companies to get trade finance loans. although some banks are using their own big data initiatives to assess credit - worthiness, a more general and long - term framework is needed to solve this problem. 23. these examples highlight the need to improve the data landscape in hong kong. we want to make sure it doesn ’ t become a factor that limits our city ’ s potential for better banking. 24. so, today i ’ d like to introduce you to a new market development initiative for the next era : the commercial data interchange or, as we call it, cdi. 25. cdi aims to establish a consent - based common standard for data owners to share their digital footprint with banks through data providers. today, we rely on multiple one - to - one connections between banks and data providers. under cdi, each bank and data provider will have a single connection to this interoperable platform. that should make data sharing more efficient and scalable. 26. financial institutions and data providers will be able to easily connect their systems to this infrastructure. that will allow customers to authorise their own