European Central Bank (ECB)
Jacques de Larosière on the international monetary system and the eurozone
Central Banking’s Chris Jeffery speaks to former IMF chief Jacques de Larosière about efforts to restore the global financial system and challenges for the eurozone at the Central Banking Awards 2015
Former ECB banknotes director describes 'arduous path' to Europa launch
Antti Heinonen details the challenges and occasional mishaps in delivering a ‘quantum leap’ in eurozone banknote designs, with the latest new note to be issued later this year
Nouy sets out SSM priorities for 2015
Supervisory board chair Danièle Nouy reveals focus on profitability drivers of largest banks in eurozone, as well as their risk appetite and governance; first annual report published
BoE and ECB strike deal on CCP cooperation
Central banks agree to information exchange and provision of cross-border liquidity in a crisis as the UK government drops two outstanding cases against the ECB
Greek governor paints bleak picture of life without the euro
Yannis Stournaras insists leaving the eurozone is ‘not an option’ for Greece, as it would impose ‘huge costs’ on the financial system and real economy alike
Visual interfaces ‘hold promise’ for policy-makers
Working paper published by ECB finds ‘analytical visualisations and interactive interfaces’ can help with the communication of risks; presents macro-prudential data cube
Noyer says ECB can cope with solvency risks
Banque de France governor flags risks from balance sheet expansion, but says the ECB is ‘fully protected’ against solvency risks
ECB closely watching impact of QE on financial stability
Mario Draghi tells Econ committee the central bank is aware of the potential for QE to inflate asset prices and invite excessive risk taking, but risks are ‘contained’ at present
ECB forecasts ‘gradual’ increase in US inflation
Economic bulletin published by ECB agrees with FOMC that inflation will increase gradually as labour market conditions improve and impact of low oil prices and high dollar fades
ECB paper emphasises importance of time horizons for early-warning models
Working paper finds the selection of a particular time horizon can have ‘considerable implications’ for the performance of economic variables in predicting bank crises
Third TLTRO sees extra €98 billion borrowed from ECB
Latest allocation of cheap loans pushes total amount borrowed to €310 billion; measures aimed at repairing transmission mechanism and encouraging loans to real economy
Protestors clash with police as ECB opens new premises
Demonstrations organised to coincide with inauguration of new ECB building lead to outbreaks of violence; Draghi calls for economics and politics of integration to be ‘reconciled’
Draghi wants shared sovereignty over structural reforms
ECB president fleshes out vision for ‘common governance’ of product and labour market reforms in the eurozone; advocates adopting an ‘institution-based approach’ to common governance
Cyprus governor 'will not resign' despite political pressure
Chrystalla Georghadji will continue exercising her duties as governor despite the Cypriot president ordering an investigation into what he perceives as a ‘conflict of interest’
ECB paper models Philips curve from professional forecasts
Working paper finds the curve consistent with professional forecasts has flattened since the financial crisis, with the relationship between inflation and unemployment weakening
ECB’s Mersch tells banks to take advantage of reforms
Banks should tap into the ‘sizeable’ opportunities offered by banking union, ECB executive board member says, which could help them provide more credit to SMEs
Spanish deputy favours ‘moral persuasion’ in supervision
Fernando Restoy believes supervisors should have the ‘ability to influence the decisions’ of the managers of the entities it oversees through ‘moral persuasion’
ECB reveals flexibility in QE programme
European Central Bank releases modalities of asset purchase programme; Draghi delivers upbeat press conference underpinned by positive staff projections
Court rules against ECB in CCP case
European court finds ECB does not have authority to regulate securities clearing systems in the EU, upholding a UK plea against rules forcing CCPs to be located in the eurozone
ECB concerned by plans for Slovenian central bank law
The institution, led by Mario Draghi, voices concern over draft amendments that would give the national assembly powers to fire board members and their impact on ‘personal independence’
ECB revisits virtual currencies in new report
Research concludes virtual currencies do not pose ‘material risk’ to central bank operations in eurozone, but could if they become more widely used or entwined with the real economy
Greek governor calls for reform and coherent growth plan
Yannis Stournaras urges government to honour Greece’s commitments and reach a prompt agreement with its European partners, then focus on creating sustainable growth
IMF research looks to jumpstart market for Italian NPLs
Nadège Jassaud and Kenneth Kang discuss their strategy for fostering a market for non-performing loans with Central Banking, stressing the need for ‘decisive action’
Draghi defends Greek waiver decision in heated parliament session
ECB president defends bond-waiver decision and dismisses ‘popular mistakes’ over the disbursement of profits, having to raise his voice over heckling from MEPs