Deutsche Bundesbank
Bundesbank's Buch pinpoints importance of impact studies for macro-pru policy
Claudia Buch emphasises the usefulness of impact studies for macro-prudential policy, arguing data is an insufficient stand-alone indicator
ECB concerned by impact of draft German law on supervision
European Central Bank suggests proposals could impact consistency across the banking union and its own supervisory discretion in response to Federal Ministry of Finance
German reforms did not create eurozone imbalances, paper finds
German model illustrates the positive effect of structural labour reforms between 1999 and 2008 on GDP, consumption, investment and employment, but also the eurozone more widely
Bundesbank's Weidmann to replace Noyer as chair of BIS board in November
The Bundesbank president will take over as chairman of the BIS board of directors when Christian Noyer retires from Banque de France next month
Eurozone QE has ‘significantly increased inequality’, Bundesbank paper argues
Asset price changes following the introduction of eurozone quantitative easing have largely benefited the wealthiest households, a Bundesbank working paper says
Weidmann wary of monetary policy ‘being further co-opted’
Bundesbank president makes case for changes to institutional framework underpinning the monetary union, calling for discussion of ‘Maastricht plus’ and political union
Bundesbank’s Buch casts doubt on Greek debt relief as talks end
Deputy president takes stance at loggerheads with IMF as latest round of negotiations draws to a close; Greek finance minister strikes upbeat note
Bundesbank research warns of risks from rising intraday interest rates
Discussion paper finds intraday rate rose from zero to around 60 basis points after 2008 and sovereign debt crises; researchers suggest it is reflecting a liquidity premium
Bundesbank research tracks changing financial cycle
Discussion paper seeks to establish the ‘empirical regularities’ of the financial cycle using an econometric model, finding the cycle has grown longer and more severe over time
Bundesbank paper identifies two ‘clusters’ of credit cycles
Researchers find there is no common credit cycle among European and US economies, rather two distinct groups emerge with cycles converging within
Bundesbank paper tracks causes of financial crisis balance sheet contraction
Working paper identifies characteristics and behaviour that had a dampening effect on German banks during the 2008 crisis, noting the importance of taking a nuanced view
Weidmann does not see case for higher inflation targets
The Deutsche Bundesbank president points to welfare costs of higher inflation target, and argues in favour of structural reforms that boost productivity and deliver higher trend growth
Central banks cannot avoid fiscal impact, Bundesbank panellists warn
Academics and central bankers point to fiscal impact of monetary policy and lender of last resort function, raising the question of how much fiscal power central banks ought to wield
Weidmann leads support for capital markets union
Bundesbank president says bank-based and market-based finance can be ‘complementary’, while Iosco secretary-general urges Europe to move quickly
Weidmann warns Greek ELA could raise ‘serious monetary financing concerns’
Bundesbank president says the ongoing provision of emergency funds to Greek banks will be a problem if the cash is used to buy sovereign debt
German life insurers vulnerable to interest rate shock, research warns
Discussion paper finds life insurers could have experienced a policyholder run in 2013 if interest rates had risen 2.1 percentage points; says QE might make it hard for insurers to protect themselves
German inequality would fall with US-style home ownership, Bundesbank study shows
Discussion paper fits US home ownership structure to German economy, finding large changes in the distribution and median level of wealth
Weidmann sees bond reversal as ‘a kind of re-normalisation’
Bundesbank president argues sell-off is a ‘correction of market overshooting’ in the wake of ECB asset purchases; insists volatility is ‘not exceptionally high’ at present
Axel Weber slams ‘simplistic’ leverage ratio
Former Bundesbank president and now UBS chairman Weber says Basel III has not made the financial system better
Bundesbank paper finds misbehaving banks increase volatility
Model of imperfect information shows output becomes more volatile when depositors cannot fully hold bankers to account
Bundesbank’s Dombret wants more ‘proportional’ supervisory teams
Executive board member says the joint supervisory teams in Europe should be proportionate to the size and significance of the banks they supervise
Bundesbank's Dombret: shadow banking oversight is 'miles away'
Regulators may never be able to fully monitor the risks created by shadow banking, says Bundesbank board member
Carney: BoE ‘nowhere near’ exhausting macropru tools
Governor says Bank of England has ‘some way to run’ in terms of both the number of tools and options for calibration; debates debt levels on panel at Bundesbank conference
In qualified support of coco bonds
Europe’s supervisors need to develop a code of best practice to support the prudential issuance of contingent convertible bonds, argues Andreas Dombret