European Central Bank (ECB)
Researchers find ‘strong evidence’ of ECB policy spillovers to CEE countries
Working paper examines the spillover effects of the ECB’s ‘non-standard’ measures since 2007 on the Czech Republic, Hungary, Poland and Romania
ECB flags threat of ‘abrupt reversal’ in risk premia
Latest review identifies two ‘medium-level systemic risks’ to the eurozone's financial stability, weak profitability prospects for banks and a potential ‘sharp adjustment’ in risk premia
Main threat to stability from low growth, says Italian deputy
Fabio Panetta says there is ‘broad agreement’ the main danger to financial stability in the eurozone stems from low growth; credit growth ‘remains subdued’
EC plans full eurozone deposit insurance by 2024
Proposals outline gradual introduction of common deposit insurance in the eurozone between 2017 and 2024; size of fund equivalent to 0.8% of covered deposits, estimated at €43bn
Eurozone banks face 'in-depth' scrutiny of risk handling, Nouy says
Banks’ handling of risk is being subjected to in-depth analysis by the ECB’s single supervisory mechanism, Danièle Nouy says
Central bankers must research QE’s effects on inequality, Italian deputy governor says
Central banks must improve their understanding of how expansionary monetary policy affects inequality in developed economies, says Fabio Panetta
‘We will do what we must’ to hit target, says Draghi
ECB governor hints at further easing at next month’s monetary policy meeting
Terror attacks may have made European capital revival harder, Visco says
Terror attacks may hinder revival of European Union’s rate of capital accumulation, Ignazio Visco tells audience in Paris; capital market reforms present tough long-term challenges
ECB’s Mersch explores construction of instant payments services
Yves Mersch says Eurosystem envisages services being constructed on scheme, clearing, and settlement layers, and considers challenges involved in each
Risk of banking crisis increases with ‘network centrality’, ECB paper argues
Modelling the interconnectedness of 14 European countries' banking sectors gives valuable information on the likelihood of a crisis, a paper published by the ECB argues
Honohan sets out virtues of new crisis tools in final speech
Irish governor stresses potential of direct recapitalisation and GDP-linked loans to help bolster debt sustainability in crisis-hit countries; expects successor Lane to come in with ‘big broom’
Market and survey-based measures of expectations provide useful information, ECB paper says
Survey-based and market-based measures of inflation expectations provide useful information on future eurozone price increases, a European Central Bank paper argues
Cyprus must make NPLs ‘number one priority’, international agencies say
Authorities must properly implement proposed loan reforms, joint statement says
Mersch considers unintended consequences of regulation
Eurozone policy-makers must be careful that their efforts to reform the financial sector do not create ‘new externalities’ risks for banks, says Yves Mersch of the ECB’s executive board
ECB aims for single policy on ‘options and discretions’ with new proposals
Central bank publishes draft documents aiming to create a single policy for the exercise of options and discretions under banking law in financial systems it regulates
Decisions on ELA could be shifted to ECB
Mario Draghi says ‘intricate’ framework for providing emergency liquidity assistance could be reviewed in light of banking union; potential for decisions to become ‘more European’
Challenging crosscurrents from divergent monetary policy
Divergent monetary policies around the world and challenges linked to China’s economic rebalancing present central bankers with some opportunities as well as numerous threats
Christopher Pissarides on QE, the eurozone and economics
The Nobel economist tells Chris Jeffery why events in Europe have undermined neoclassical beliefs, QE is an optimal policy tool and Cyprus should not have joined the euro
The big data revolution and central banking
Central banks are increasingly turning their attention to the challenge of analysing very large datasets. But is ‘big data’ as revolutionary as some claim?
Harnessing network theory for more prudent bank supervision
Closer supervisory activities and data-sharing post-crisis offer the potential to harness network techniques to gain an improved understanding of financial risks
Low rates from QE poses risks to some pension and insurance firms in eurozone, Visco warns
Pension funds and insurance companies in some eurozone countries may need to adjust their practices to limit the risks arising from asset purchases, Italian governor says
ECB publishes first quarterly statistical report on households
The European Central Bank publishes its first quarterly statistical report on the eurozone’s household sector; underlying figures available online in data warehouse
Sarb’s Mminele fears a ‘lengthening drought’ in emerging market capital flows
Sarb deputy warns emerging market nations must maintain “utmost vigilance” as they are buffeted by the effects of divergent monetary policies and fears about the state of the Chinese economy