Luxembourg
Riskiest non-banks shrink for first time since 2009
FSB says narrow measure of riskiest firms fell in 2022 as asset price falls hit investment funds
The IFF China Report 2019: The Belt and Road Initiative
Over the past five years, China has invested more than $70 billion in Belt and Road Initiative (BRI) countries, of which there are now in excess of 100. Leading Chinese and international policy-makers explain how BRI efforts are progressing. This section…
The Belt and Road Initiative 2019 Survey – A new driver for globalisation?
The second Belt and Road Initiative (BRI) Survey of 28 central banks reveals that they view the BRI as a major driver of globalisation, with a high percentage of respondents expecting the initiative to provide a significant boost to GDP. So far,…
People: Saunders and Kashyap reappointed to BoE committees
BoE reappoints its most hawkish member to Monetary Policy Committee; RBNZ gains new chief economist; ESM appoints new audit board member
Non-banks continue rise as banks lose market share
Non-bank financial firms hit a record high, at nearly half of global financial assets, FSB finds; leveraged lending increasingly an area of focus
ECB orders Latvia to close bank accused of money laundering
Latvian finance minister says 12 further banks in country may be at risk from money laundering
Iran makes fresh attempt to free frozen assets
Central bank files complaint against Clearstream demanding assets worth $4.9 billion plus interest
‘Significant’ housing market risks in eight EU states – ESRB
UK outlook “highly uncertain”, while regulatory mandate in Sweden is “not clear”
Tajikistan objects to Basel Institute’s anti-money-laundering criticisms
The Basel Institute’s grading of Tajikistan as the third-worst money laundering jurisdiction in the world is based on an “absolutely incorrect analysis”, the country’s central bank says
ECB bulletin says institutional reform important for increasing resilience
Governing institutions in eurozone countries need reform, the ECB says; Finland’s institutions are among very best in OECD but those of Greece and Italy are close to worst
Chinese law doubts holding back RMB internationalisation – paper
A Bank of Italy occasional paper plots the development of renminbi trading in Europe; future development may be characterised by rapid advances followed by slower periods, authors say
Mersch stresses importance of democratic legitimacy in Europe
Executive board member at the ECB wants to see the decision-making process in Europe enhanced; calls for a “shared EU-wide identity”
EU court rules OMTs are legal
ECB is vindicated as ECJ rules in favour of crisis measure that would see the central bank buy potentially unlimited amounts of sovereign debt to protect ‘singleness’ of monetary policy
Legal opinion opens door for ECB bond-buying programme
Adviser to ECJ deems OMTs ‘compatible’ with European law in a move described as an ‘overwhelming success’ for ECB; could nonetheless restrict central bank's role in Troika
Luxembourg paper busts myth of money ‘parked’ with central banks
Researcher at the Central Bank of Luxembourg argues the increase in central bank deposits in the Eurosystem is not a reflection of banks’ lending habits
Luxembourg central bank accuses government of withholding statistics
Central Bank of Luxembourg says it will not be able to honour its commitment to publish a ‘thorough analysis’ of public finances this month because it cannot access the data it needs
Evaluation of Luxembourg paper produces ‘encouraging’ results
Research published by the Central Bank of Luxembourg finds the monthly indicator it uses to forecast GDP delivered a 'satisfactory' performance between 2007 and 2013
Mersch cautiously optimistic on RMB internationalisation
Renminbi internationalisation could bring benefits both to China and outsiders, ECB board member says, if Chinese reforms continue and investors take care
Low correlation between relative consumption and price not due to market inefficiency
Central Bank of Luxembourg paper attempts to explain why the correlation between real exchange rates and relative consumption is either low or negative
Mersch lists monetary policy dos and don'ts
ECB board member tells Luxembourg audience monetary policy should take responsibility for ‘averting Armageddon', but there are limits to what it can do
Luxembourg paper says banks’ profitability will not suffer at hands of Basel III
Study says new liquidity coverage and capital-to-asset ratios will have little impact on banks’ return on assets