European Union (EU)
EU exit not disastrous to UK investors, Lamont says
The former Conservative chancellor says fears of financial turmoil in the UK after an EU withdrawal are exaggerated
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
EU court to rule on UK challenge to ECB's clearing policy
Verdict due on March 4 in first of three UK complaints about eurozone clearing oversight; ECB policy calls for some firms clearing euro-denominated products to be incorporated in the eurozone
First CPMI-Iosco peer review finds gaps in trade repository principles
Peer review of Principles for Financial Market Infrastructures in Europe, Japan and the US finds jurisdictions have made good progress with CCPs, but gaps remain among trade repositories
Capital markets union must be carefully focused, say BoE researchers
Paper puts forward framework for analysing the myriad proposals under the umbrella of ‘capital markets union’, and argues they should be more targeted
MEPs strike deal to cap card payment fees
European Parliament reaches agreement on limits to the fees banks can charge retailers for processing payments in a bid to lower prices and tackle perverse incentives
Basel Committee: US and EU capital rules still falling short
Basel Committee’s second assessment of compliance with Basel framework finds both EU and US are not complying in all areas, but both argue deviations are justified
Bank of Portugal gets new powers to assess bank directors
Bankers’ current court cases and their personal business conduct are now also part of the Bank of Portugal's assessment of the banking system
BoE deputies suggest refinements to EU law-making
Andrew Bailey and Jon Cunliffe say the European Union has room for improvement when it comes to efficient, effective legislation
IMF paper suggests solutions to collective action problems
Working paper says difficulties in achieving cooperation when tackling global risks are surmountable; suggests taking ‘incremental steps’ and ‘realigning incentives’
IMF paper sees EU inflation expectations holding firm
Working paper says low core inflation in eurozone has had ‘significant’ impact on the rest of the region, though the main driver of disinflation remains food and energy prices
BoE’s Bailey slams European bonus caps
Deputy governor expresses ‘dismay’ at debate that misses what he sees as key points in designing appropriate incentives; points to flaws in Basel capital standards
ESRB paper identifies difficulties in tracing origins of collateral
Occasional paper presents results from two data collection exercises, finding ‘widespread’ use of securities financing transactions and lack of clarity on the reuse of collateral
Bank of Russia-owned Sberbank hit with EU sanctions
EU list of sanctioned state-owned banks includes central bank-owned Sberbank, despite the US leaving it off its list this week
BoE moves to prepare UK banks for EU recovery and resolution rules
UK central bank moves to implement EU Bank Recovery and Resolution Directive, a key piece of legislation to prevent taxpayer bailouts of banks
Weidmann encourages UK to stay in EU
Deutsche Bundesbank president says the UK and continental Europe are 'more than the sum of their parts' and have both benefited from the European Union
Gualtieri elected chair of ECB watchdog committee
New Econ Committee members approve Italian socialist as chair; Gualtieri faces an early test of his composure as German politician Bernd Lucke is rejected as vice-chair
Italian socialist tipped to lead ECB-watching Econ Committee
Roberto Gualtieri likely to be elected as chair of the Econ Committee next week in the European Parliament, making him the chief point of contact with the European Central Bank
Europe’s ‘bloated’ banking system could be harming growth, says ESRB committee
Report by advisers to European Systemic Risk Board says the banking system is ‘overweight’ and prescribes a number of remedies, including securitisation of SME loans
EU sovereign debt managers fall in line with two-day settlement rule
EU member states' treasuries will settle over-the-counter sovereign bond transactions in a maximum of two days from October this year
Yves Mersch says EU treaty change could entrench monetary and banking union
Changing the EU treaties could, according to Mersch, help strengthen the institutional framework underpinning the Economic and Monetary Union
Regulators reveal details of EU and UK stress tests
European Banking Authority and Bank of England set out the scenarios they will use in their respective stress tests later this year; ECB sets deadline for meeting capital shortfalls
EU members are ‘growing apart' not growing together, paper finds
Researchers examine EU member states' ‘dynamic convergence' and find seven separate groups of countries that are not converging with one another
Serbia completes ECB's 'most ambitious programme to date'
Three-year programme has prepared the National Bank of Serbia to take a lead role in negotiating the country's entry into the EU and the central bank's entry into the ESCB