European Central Bank (ECB)
Angeloni cautions over Commission’s SREP proposal
ECB regulator also welcomes EC’s Pillar 2 capital suggestion
Encouraging creation of ‘quasi-safe assets’ may be destabilising, paper argues
Investors have distinct “safety demand”, researchers argue
Policy intervention helps economies escape ‘stagnation traps’ – paper
Research published by ECB explains how “pessimistic expectations” can lead to low employment and growth, dampening investment; countercyclical subsidies could be the answer
Deregulation could lead to further crisis – Lautenschläger
ECB supervisor worried by politicians’ calls for regulatory loosening
‘Substantial’ accommodation must continue – Draghi
ECB president says underlying eurozone inflation remains “subdued”, despite rise in headline rate; he sounds the alarm over the possibility of a “competitive devaluation” by advanced economies
EU stress tests should revise banking income assumptions, ECB paper argues
Fee and commission income likely to decrease more under “adverse” scenario, researchers say
ECB paper models effects of bank guarantees
Guarantees improve welfare by increasing liquidity transformation, researchers find
ECB announcements in QE era shifted inflation expectations, Austrian paper finds
Researchers use daily data on bond yields and inflation-linked swaps
Lautenschläger warns UK over response to Brexit
ECB may start regulating the largest investment companies, senior supervisor says; warns that continued euro clearing in London will depend on legal framework
Cash is here to stay – SNB’s Zurbrügg
SNB official says reports of cash’s “death” are “exaggerated”; central bank has no plans to stop printing banknotes as its popularity remains
ECB says Cyprus will need increased resources to monitor housing
Central bank says it will soon brief staff on major internal reorganisation
Italian paper tracks spreads on eurozone corporate bonds
“Fragmentation” has begun to decrease following ECB’s use of QE, researcher says
Target2 robust enough to withstand liquidity shocks – ECB study
Research modelled the effects of “extreme collateral deteriorations” on Target2 participants
People: Riksbank’s Nessén takes on new advisory role; Albizu retains CMCA chair
Riksbank’s head of monetary policy takes on new board advisory role; Dominican governor reappointed by peers to serve as the CMCA’s chairman for another six years; and more
ECB’s Cœuré argues against protectionism
ECB board member says protectionist policies reduce overall growth potential; calls for a more “efficient, enduring and equitable” approach to globalisation
ECB profit for 2016 rises on asset purchase income
Supervisory charges on banks rise by €105 million
ECB paper models causes of flash crashes
Informational asymmetry and thin participation can cause liquidity problems, paper argues
Mersch: no political appetite for ‘European safe bonds’
The proposal for pooled, tranched bonds is “interesting”, but the public are likely to be suspicious
ECB gives green light to Italian recapitalisation law
ECB raises no objection to decree but other obstacles may remain
Monetary aggregates useful as eurozone inflation predictor – paper
“Predictive content” of monetary aggregates has improved since 2012, ECB paper says
Future of Greek austerity divides IMF board
Some directors dissent from call to reduce mid-term primary surplus target
Draghi: eurozone ‘bad bank’ would not be ‘panacea’ for NPLs
ECB president also rejects criticisms made by the US president’s trade adviser
Eurozone still not a complete monetary union, Draghi says
Further reforms to create “common institutions” are necessary, ECB president argues
Energy base effects pushing recent eurozone inflation – ECB
Effect estimated to be negative for much of second half of 2017