European Central Bank (ECB)
ECB’s Angeloni wants analysis of macro-prudential measures ‘at some stage’
Supervisory board member says analysis will be important in the future, partly because it will help identify ‘scope’ of potential ECB actions
Draghi says ‘risk of side effects’ will not stand in ECB’s way
Mario Draghi says the European Central Bank will not be deterred by the ‘unintended consequences’ of its asset-purchase programme, ahead of a key March governing council decision
Buch enters reservation on common deposit guarantees
Bundesbank deputy says safeguards must be put in place before a eurozone deposit guarantee scheme can be established, even as Draghi welcomes progress on the scheme
People: ECB names new budget and finance head; long-serving Fed director to retire
Roberto Schiavi will become ECB’s director general budget and finance in March; Fed’s Louise Roseman to retire as director of reserve bank operations and payment systems; and more
Some eurozone countries increasing ‘regulatory fragmentation’, Lautenschläger says
‘Regulatory fragmentation’ between eurozone nations’ banking supervision regimes is being increased in some cases, Sabine Lautenschläger argues
Chance to ‘review’ BRRD must be seized, says Visco
Italian governor criticises the application of the Bank Resolution and Recovery Directive (BRRD); the transition was too hasty and reform may be needed, he argues
ECB’s Cœuré: European Fiscal Board can play key role
The newly created European Fiscal Board, as well as independent fiscal councils in eurozone nations, can make ‘decisive contributions’ to policy, Benoît Cœuré says
Cyprus on track to complete programme by March, finance minister tells MEPs
Cyprus will continue with fiscal discipline and market-orientated reforms once adjustment programme ends, finance minister tells European parliament; rejects ‘tax haven’ claims
Reserve accumulation can be inflationary, ECB paper says
Working paper examines the allocation of special drawing rights in 2009 to separate out the inflationary effects stemming from an increase in the monetary base and moral hazard
ECB will 'review and possibly reconsider’ stance in March
ECB policy rates and asset-purchase programme remain unchanged, but Draghi says council was ‘unanimous’ in agreeing it should announce March review
ECB paper quantifies spillover from sovereign to corporate credit risk
Research studies direct spillover effects using credit default swaps and data on 226 firms from 15 European countries in aftermath of first Greek bail-out
ECB's Mersch considers hurdles to single payments area for cards
European payment card schemes and processors must address issues of standardisation, security and interoperability to create an effective single payments area, Yves Mersch says
Croatia makes it 25 central banks in Target2
The Croatian National Bank will, along with 24 commercial banks in the country, participate in the RTGS system from February 1, making it the fifth central bank outside the eurozone to join
Central banks struggling to exit ‘confused period’, economists say
The financial crisis forced a regime change on central banks, raising challenges to independence, analysis and policy tools, which have yet to be fully resolved, say panellists in Brussels
ECB's Cœuré wants ‘corrective arm’ of EU tool used ‘forcefully’
European Central Bank executive board member stresses importance of sustainable rebalancing in the eurozone; wants to see potential of macroeconomic imbalance procedure realised
Consultancy and advisory services provider of the year: BlackRock Solutions
A key partner to major central banks engaging in complex asset purchases, asset quality reviews, resolution mechanisms and strategic asset allocations
Website of the year: European Central Bank
The European Central Bank built one new website and overhauled another in the year under review – adopting the best practices in responsive design and tailoring both for a mobile audience
Europe needs ‘consistent’ policy on solvency issues, Lautenschläger argues
Decisions needed on whether the SSM has competence in solvency issues currently dealt with at national level, Lautenschläger argues; calls for reform to ‘routine’ decisions process
Financial market risk being pushed into ETFs, Noyer warns
Central bankers must develop oversight of ETFs and similar securities, Noyer tells farewell seminar; must also convince markets and public of opposition to low inflation and deflation
ECB should become lender of last resort to individual eurozone banks, academics argue
The ECB should take over the role of lender of last resort to troubled individual banks in the eurozone, two leading academic lawyers argue; move would ‘not require’ changes to treaties
SSM sets out supervisory priorities for 2016
The SSM set out its supervisory priorities for 2016, with a wide-ranging list of ‘thematic reviews’ to be carried out; key areas include business model risk and high levels of non-performing loans
2015: The year in review
Research exploring new frontiers and challenging the prevailing orthodoxies took centre stage over the past year - we look back at some of the biggest stories
Markov switching model enables diagnosis of ‘systemic financial stress episodes’, ECB paper argues
A Markov switching model can be used to diagnose episodes when both the real and the financial economies are subject to simultaneous severe stress, paper finds
Draghi calls for action on non-performing loans
Eurozone countries need wide-ranging reform of their systems for dealing with non-performing loans to stimulate the supply of capital to business, Mario Draghi says