European Central Bank (ECB)
People: Bostic to step down from Atlanta Fed
Plus new appointments in Botswana, Estonia, Slovakia, Singapore and at BIS
ECB planning to use law to make Apple give way on digital euro
Bank looking to use Digital Markets Act to enable people to hold CBDC on iPhones’ ‘secure element’
ECB finds holes in banks’ credit spread risk nets
Banks censured for insufficient evidence to support exclusion of products from CSRBB perimeter
Support for euro hits ‘record highs’ – ECB
Previously sceptical countries have grown to like shared currency, research suggests
ECB fines Spanish bank for not complying with climate rules
Supervisor imposes first-ever financial penalty over environmental prudential requirements
Climate risks still underplayed in credit ratings – ECB blog
Sovereign bonds, utilities and automotive and insurance sector securities most impacted by climate
ECB to tilt future QE to shorter-term bonds – Schnabel
Collateralised lending to play key role in Eurosystem asset composition
Central banks speak opaquely to avoid overreaction – ECB study
Authors say institutions tend to communicate more clearly when they know their reputations are low
Is independence compatible with climate action?
Lessons from China indicate relationship between governments and central banks may need to change, argues Mathias Larsen
Stress-test transparency: how much is too much?
The transparency drive to disclose bank stress-test results comes with costs
ECB holds rates for third consecutive time
Lagarde celebrates ‘fading risks’ to eurozone growth thanks to trade deals and Gaza ceasefire
ECB enters new phase for digital euro, with issuance set for 2029
CBDC’s next phase to focus on technical readiness, market engagement and legislative support
Why Europe cannot afford to delay the digital euro
CBDC would counter the erosion of sovereignty as cash recedes, substitution by foreign digital monies and weaponisation of access, argue Biagio Bossone and Céu Pereira
How EU supervisors react to interest rate risk outliers
Banks have faced no automatic penalties for breaching new NII test, but do come under microscope
ECB does not have rule-making power – Elderson
Binding decisions are based on existing regulations and not supervisory expectations, board member says
ECB and BoJ officials reject explicit forward guidance
Central bankers promote ‘meeting-by-meeting’ approach to rates setting
Lagarde calls for EU-wide clean energy strategy
Integrated capital markets to finance affordable and sustainable sources of power, ECB president says
ECB staff union sues central bank over gag orders
Union alleges that ECB leadership sought to block representative from speaking
AI, low productivity, and trade in focus at G30
Georgieva, Bailey and Lagarde speak on stretched AI evaluations and distortionary trade policies
Top officials weigh impact of trade war and AI
ECB president says impact of US tariffs has been “exact opposite” of expectations
Stability before competitiveness, say supervisors
ECB’s Donnery and BIS’s Restoy discuss merits of imposing secondary mandate on growth
Tariffs will not solve US ‘twin deficits’, BdF governor says
Villeroy de Galhau wants to maintain spirit of transatlantic co-operation despite disagreements
ECB disputes PwC estimate of digital euro implementation costs
Lenders will need to spend around the same as they did implementing PSD2, central bank argues
ECB says digital euro would not disrupt financial stability
Lenders remain healthy under modelled crisis scenario, regardless of CBDC’s holding limits