European Central Bank (ECB)
Esma working group concerned about Euribor transition timeline
ECB’s Cœuré says new regulation has set “demanding” timeframe to find alternative to benchmark interest rates
European Commission calls for action on NPLs
Commission’s proposals differ from ECB’s October document
Latvian governor barred from entering central bank
Deputy governor effectively in charge as governor banned during bribery investigation
ECB’s open market operations often raise banks’ liquidity – paper
Asset “haircuts” imposed by ECB often smaller than those in repo markets – researchers
European cyber resilience board holds first meeting
ECB’s Cœuré will chair board consisting of major financial infrastructure companies
People: ECB clears way for de Guindos
Governing council says it has “no objection” to the Spanish candidate; Bank of England’s David Thorburn resigns; RBNZ gains a board member
ECB removes promise to increase bond purchases if needed
Stronger economic growth confirms previous confidence of rate-setters, Draghi says; ECB president criticises threatened tariffs
ECB criticises Irish draft law on mortgage arrears
Draft law could encourage moral hazard and harm legal certainty, says ECB
Latvian governor unable to attend ECB meeting due to corruption inquiry
Parliament will debate governor’s continuation in role this week
ECB largely supports Commission’s proposals for ESRB
ECB president would become ex officio head of systemic risk body
ECB policy statements have moved inflation expectations – Italian paper
Researchers look at impact of ECB’s recent monetary policy statements on financial markets
ECB paper models impact of monetary policy announcements
Model tries to “disentangle” impact of two kinds of information
Italian paper looks at eurozone firms' capital costs
Fall in borrowing costs in periphery due to balance sheet improvements, researchers find
Sovereign debt more ‘enforceable’ – ECB paper
Results show creditors have used courts to “pressure” foreign governments, resulting in restricted access to capital markets
ECB’s Mersch urges caution on regulatory sandboxes
The ECB board member is “not sure we have the right answers yet”
Solving the owner-occupied housing puzzle
A group of researchers has outlined what they see as a better method of integrating owner-occupied housing into the CPI, as the EU’s statistical agency wrestles with the problem
ECB orders Latvia to close bank accused of money laundering
Latvian finance minister says 12 further banks in country may be at risk from money laundering
Some ECB governing council members wanted softer QE language – minutes
Governing council members also cautious over future exchange rate movements
ECB lacks power to investigate money laundering, Nouy says
Frankfurt ordered the shutdown of Latvia’s ABLV Bank after US Treasury accused it of illicit practices
Ireland withdraws Lane’s nomination for ECB vice president
Spain’s de Guindos likely to take up role, but Irish may suggest Lane for the chief economist post
BIS paper uses ‘shadow rate’ to study market expectations
Fan Dora Xia and Jing Cynthia Wu find they can estimate expectations over a longer horizon by using a shadow rate term structure model
ECB orders Latvia to shutter bank over laundering allegations
US Treasury alleges the bank laundered billions of dollars and had links to North Korea
Latvian police detain central bank governor on corruption charges
Rimšēvičs says charges are totally unfounded
European authorities warn of dangers in cryptocurrency markets
Spanish and Dutch central banks warn of “misleading” data and unregulated markets