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BoJ Gov Shirakawa to hold news conference at 10 p.m. TOKYO: Bank of Japan Governor Masaaki Shirakawa will hold a news conference on Tuesday at 10 p.m. (1300 gmt), the central bank said.   Shirakawa told reporters earlier in the day that he would step down on March 19, three weeks before his term is due to end.   Copyright Reuters, 2013         ...

BoJ chief stepping down before term expires: reports   TOKYO: The head of the Bank of Japan has offered to step down about three weeks before his term ends, reports said Tuesday, after the BoJ and Japan's new government butted heads on policy matters.   "I'd like to step down on March 19 when the terms of the two deputy BoJ governors end," Masaaki Shirakawa told reporters in Tokyo, according to Dow Jones Newswires.   Japan's top central banker added that he hoped his successor would be sworn ...
Euribor rates hold steady ahead of ECB rate meeting           FRANKFURT: Euribor bank-to-bank lending rates were unchanged on Tuesday, holding steady ahead of the European Central Bank's policy meeting on Thursday.   The ECB is widely expected to leave its main rate at a record low of 0.75 percent. A Reuters poll of 75 economists forecast last week the ECB would not change its rates until July 2014 at least - the end of the forecast horizon.   Euribor rates have climbed since the ECB announced on Jan. 25 ...
Romania c.bank holds rates on high inflation   BUCHAREST: Romania's central bank held interest rates unchanged at 5.25 percent on Tuesday, as high inflation driven by food and energy limited its room to help a frail economy.   While emerging Europe neighbours Poland, Hungary and the Czech Republic have all cut rates to stimulate economies, Romania has kept rates flat since May 2012 due to price rises and political instability that has knocked the leu currency.   Inflation was at 5 percent at the end of 2012, ...
UBS suffers $2.7bn 2012 net loss on Libor-fixing fines ZURICH: Swiss banking giant UBS announced on Tuesday a net loss of 2.5 billion Swiss francs (2 billionn euros, $2.7 billion) as fines from the Libor rate-fixing scandal weighed on results.   In the final quarter of last year UBS suffered a net loss of 1.8 billion francs when it booked provisions for the combined fines of 1.4 billion francs from regulators as well as restructuring costs.   The full-year net loss was higher than expectations, with analysts surveyed ...
Barclays bank takes extra £1.0bn charge for mis-selling LONDON: British bank Barclays said Tuesday that it will set aside another £1.0 billion ($1.6 billion, 1.2 billion euros) to cover redress for the mis-selling of both credit insurance and interest rate hedging products.   Barclays, rocked last year by the Libor scandal, said in a statement that it will set aside another £400 million to cover the mis-selling of interest rate swap products, and another £600 million to cover the mis-selling of payment protection insurance.   Copyright AFP ...
India central bank tightens rules on low-coupon bonds   MUMBAI: The Reserve Bank of India has plugged a loophole that banks were using to buy low-coupon bonds by requiring them to invest in such debt only if the issuer has a back-up fund widely known as a "sinking fund" to ensure payment in case of a default.   The central bank notified banks about the directive last week, two officials with direct knowledge of the matter said.   The sinking fund would collect all accrued interest during the ...

 



 
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Banking Review 2013


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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln