European Central Bank (ECB)
Ibos warns of payments disruption as Sepa deadline set to be missed
Banking association says 2014 Sepa migration target will be missed at current pace, which could see systems shut down and payments fail; harmonisation may be limited even when target met
Asmussen defends ECB bond purchases at German constitutional court hearing
German representative on the European Central Bank’s executive board Jörg Asmussen rejects charges the central bank exceeded its legal basis by agreeing to purchase the sovereign debt of eurozone nations
ECB paper finds cost of macro-prudential policies may outweigh benefits
Working paper finds macro-prudential policies can be effective in deflating asset bubbles, but warns the cost of doing so may be higher than the benefit
Cœuré says ECB has no re-distributive mandate
'Distributional consequences of monetary policy are temporary, unintended, and with the view of safeguarding price stability,' ECB board member says in a speech today in Vienna
ECB voices fresh concern over Central Bank of Cyprus' independence
European Central Bank says draft law on the governance of the Central Bank of Cyprus contains a number of threats to its independence; follows earlier intervention by Mario Draghi
ECB issues draft regulation on systemically important payment systems
Central bank seeks comment on draft regulations implementing CPSS-Iosco Principles for Financial Market Infrastructures, for systemically important payments systems in the eurozone
ECB keeps SME measures ‘on the shelves’ and holds rates alongside BoE
Draghi says further unconventional measures were discussed at today’s meeting of the governing council, but are being held in reserve; ECB joins Bank of England in taking no policy action
ECB taken to task over SME finance in Central Banking debate
Participants in latest Central Banking On Air debate accuse central banks of 'unreasonably neglecting' SME funding difficulties; question whether the type of assets central banks hold is important
Latvia to adopt euro in 2014
European Commission gives Latvia the green light to become eighteenth eurozone member after it comfortably meets convergence criteria, but ECB voices concerns over price and financial stability
Fischer gives high marks to Bernanke and Draghi
Outgoing Bank of Israel governor Stanley Fischer believes the world owes a great debt to Fed chairman Ben Bernanke and praises ECB president Mario Draghi; says Israel can live with side effects of QE
Bank of Israel’s outgoing chief, Stanley Fischer, on the challenges of central banking
Stanley Fischer believes his work as governor of the Bank of Israel is done. He tells Chris Jeffery about the reform process in Israel as well as the challenges facing the world economy and the IMF
IMF prescribes faster eurozone progress for both Spain and Germany
IMF teams report progress being made in both Spain and Germany, though sluggish progress on banking union could stop both economies from bouncing back more quickly
ECB's Cœuré says international liquidity must be allowed to flow
The risks from financial protectionism outweigh those of negative spillovers that currently dominate the global debate, argues ECB executive board member Benoît Cœuré
Protesters claim victory in ECB ‘blockade'
'Blockupy' movement targets central bank in anti-troika protest at austerity and democratic deficit
Euribor and Eonia submission panels to be split
European Banking Federation says banks will have to re-apply to be on each panel to ensure only those active in the markets participate; confirms banks may be forced to make submissions
ECB links ‘fragile’ financial stability to weak macroeconomy
Latest financial stability review says stress has ‘fallen markedly’ but vulnerabilities persist; ECB is most concerned about the impact of a further decline in bank profitability
Pressure builds on ECB as figures show no lending growth
OECD and the European Commission call on the European Central Bank to do more, as ECB figures show lending to the eurozone's productive economy continues to shrink
Draghi looks to FDIC model for European single resolution mechanism
ECB President tells City of London audience that completing banking union can sever the bank-sovereign link and provide markets with certainty
Central bank operations push up Target2 turnover
ECB annual report says central banks helped push the value of payments in Target2 system to €634 trillion in 2012; balances diverged as German claims and Spanish liabilities increased
Fed’s Bullard recommends QE for ECB's next move
St Louis Fed president and FOMC voter says quantitative easing has worked in the US and Japan, and could be made to work in Europe on a GDP-weighted basis
ECB’s Praet calls for European austerity review
Executive board member Peter Praet argues that cuts in government investment are damaging long-term economic growth; calls for protection of the vulnerable against tax hikes
ECB research uses game theory to assess optimal T2S adaptation
Working paper attempts to find optimal lump-sum investment by central securities depositories migrating to Target2 Securities, and tests possibility of tacit collusion
ECB paper explores current account reversals
Study finds that some external adjustments are more likely to trigger a current account reversal than others; this is determined by the country’s exchange rate regime
Germans clash over banking union treaty change
ECB board member opposes German finance minister's plan to introduce limited version of banking union to allow time for treaty change