European Central Bank (ECB)
Commodity price shocks may unhinge eurozone inflation, ECB article says
Higher and more volatile commodity prices risk rendering conventional forecasts based on futures prices obsolete, with knock-on effects for inflation
Draghi reframes push for ‘perfect union’ in Europe
ECB chief Mario Draghi says the concept of sovereignty should be considered from the perspective of an individual European, rather than an individual European state
ECB agrees €45 billion bilateral swap line with PBoC
European Central Bank joins a long list of central banks with renminbi swap line with the People’s Bank of China; deal is smaller than some speculated
Higher interest rates would have hurt savers, says ECB's Cœuré
Executive board member says loose monetary policy does not stem from a desire to favour borrowers, but as a necessary response to bring the world economy back to growth and ultimately help savers
Netherlands Bank says ECB’s asset quality review necessary to restore market confidence
Dutch central bank says lack of market confidence is making it difficult for European banks to build stronger balance sheets, and that the ECB’s asset quality review will help address this
Robert Pringle’s Viewpoint: ECB needs to play ‘chicken’ to force reform of Europe’s banks
The ECB won a game of brinkmanship with governments to secure the establishment of the bail-out fund. It needs to use the same tactic with three clear elements to force through bank reform
European finance sector needs complete overhaul, says ECB's Praet
Executive board member says Europe's financial sector must be overhauled in 'its entirety' not through ‘selective mending'; warns of Japanese-style zombie banks undercutting return to growth
IMF paper says ECB can do more to fix broken transmission mechanism
Working paper identifies credit channel as a major malfunctioning component of the eurozone monetary transmission mechanism and suggests possibilities for fixing it - including asset purchases
ECB's Cœuré backs committed liquidity facility
European Central Bank executive board member suggests a committed liquidity facility could help remove incentives for regulatory arbitrage in the Eurosystem
Maltese politicians clash over new deputy governor appointment
Move to appoint a deputy governor in charge of financial stability at the Central Bank of Malta led to opposition accusations of politicisation
ECB's counsellor to the president crosses lines to Axa
Christian Thimann moves from central bank to financial services giant; takes on responsibilities as group head of strategy and public affairs
ECB holds rates but leaves new LTRO on the table
European Central Bank governing council decides against further rate cuts in Paris, but Mario Draghi says all options remain on the table to ensure money markets remain liquid
ECB research examines ‘inverted V’ yields around bond auctions
Working paper finds yields spiked around auctions during crisis-hit Italian bond issues, creating additional costs for the government that Germany did not face
ECB’s Cœuré warns impact of bail-ins still unclear
Executive board member says effects on bank funding and lending depend on final design of bail-in regime and interaction with other regulation
ECB fires starting gun on SSM chair selection
New chair will head the single supervisory mechanism and oversee the eurozone's biggest banks from next year; appointment to be made jointly by the ECB and the European Parliament
ECB’s Mersch demands resolution fund clarification
Executive board member Yves Mersch concerned about the loss of credibility if the proposed single resolution fund in the eurozone was drained through a round of bank failures
Constâncio and Issing fear ‘zombie' bank dependency on central bank liquidity
Former ECB chief economist joins current vice-president in warning over weak banks becoming dependent on central bank money - but Constâncio says ECB is ‘exiting quietly and smoothly'
ECB 'streamlines’ assessment of settlement systems
Eurosystem central banks will use a new framework with ‘considerable procedural simplifications’ to judge whether settlement systems are safe enough to be used in their credit operations
Eurosystem repatriation rule-change creates 'level playing field' for CSDs
Senior executives at Clearstream and Euroclear tell CentralBanking.com their companies are ready for the new landscape - and for the launch of T2S
ECB’s Russo: indirect clearing model needs work
Head of payments and market infrastructure at the ECB calls for greater clarity from regulators on the capital treatment of indirect clearing
ECB appoints Oliver Wyman to conduct ‘comprehensive' eurozone bank review
European Central Bank appoints the same consultancy firm as conducted Spain's banking stress tests and is doing the same for Slovenia; more details of the comprehensive review to follow soon
Central banks struggle to publicise new banknotes
Netherlands Bank finds that two-thirds of the Dutch population do not check the authenticity of their banknotes, which adds to the difficulty of communicating changes in their security features
ECB paper develops macro-pru tool probing impact of sudden capital outflows
Results show limited impact of a liquidity shock on banks' solvency ratios in the short term, but ‘moderate to high' effect on the supply of credit to the broader economy
ECB paper says regional macro-prudential tools would mitigate eurozone imbalances
Macro-prudential tools such as loan-to-value limits could help prevent imbalances between the eurozone core and periphery if applied on a regional basis, according to ECB research