Bank of Italy
Bank of Italy paper analyses Fed’s ‘gradualist’ policy
Monetary policy had stronger effects when markets thought Fed was “acting gradually” – researchers
Bank of Italy paper examines expectations’ effects on spending
Researchers find inflation levels affect strength of income and intertemporal substitution effects
ECB’s negative rates boosted lending – Bank of Italy paper
Banks increased credit to ex ante riskier firms, but did not see rise in failed loan rates, researchers find
Green finance needs better data, Visco says
Bank of Italy’s portfolio has improved since it began examining ESG scores, governor says
Securitisation can increase risk – Bank of Italy paper
Periods of high demand for safe assets can lead to riskier originated loans, authors say
ECB’s TLTRO2 eased Italian credit conditions – BoI paper
QE measure lowered loan interest rates while increasing credit quantities, researchers find
ECB reallocates subscribed capital after Brexit
Eurozone central banks will increase their total paid-up capital by €1.2 billion over the next two years
People: Bank of Italy appoints deputy governors
Two deputies join Bank of Italy board; Japanese PM nominates policy-maker; Mel Stride to chair BoE oversight committee
Bank of Italy and regulator agree joint cyber security strategy
New approach will aim at guarding specific types of financial market infrastructure
Central bank research may be too focused on narrow topics – paper
Network analysis finds many central banks are limited in the scope of their research
Manufacturing leverage weakens ECB monetary policy – BoI paper
Eurozone industrial firms’ response to policy shocks decreases as leverage rises, researchers find
Eurozone bond purchases work as stabilisation tool – BoI paper
Researchers simulate effectiveness of sovereign bond purchases against both real and financial shocks
The challenges facing Christine Lagarde
The new ECB president will need to focus on a successful review of the ECB’s monetary and communications policy, while encouraging fiscal stimulus and structural reform
Italian banks exploit ECB tiering to sharply boost local deposits
Rush to exploit arbitrage opportunity is “interesting showcase” of fragmented markets, says Benoît Cœuré; giving non-banks access to liquidity could help
Was Draghi one of the great central bankers?
A look back at how Mario Draghi confronted the financial crisis and existential concerns about the euro
Central banks face obstacles to going green – panellists
Immaturity of bond market makes it harder for central banks to tackle climate risk; panellists discuss whether mandates should change
ECB monetary policy statements should change – Italian governor
Visco rejects idea of putting names to votes as eurozone governors differ on inflation policy
Italian firms may rely too much on bank credit – research
Bank of Italy paper brings together different data sources to examine firms’ sources of capital
Italian government nominates Panetta to senior ECB role
Nominee is trained economist with over 30 years’ service at the Bank of Italy
Inflation target uncertainty magnifies price shocks’ impact- BoI paper
Researchers investigate effects of central banks failing to pefectly follow targets
BoI paper uses shadow rates to measure influence of QE
Fed’s policy weakened dollar from 2011–14, researchers find
Sovereign default risk affects bank assets – Bank of Italy paper
Researchers look at data on bank assets from 15 countries from 2004–18
Bank of Italy and state mint set up new company
Joint venture aims to become “centre of excellence” for printing documents with security features
Policy uncertainty can magnify cost shocks – BoI paper
Lack of clarity over inflation targets increases effects of cost-push shocks on output, researchers say