Vítor Constâncio
Constâncio rejects higher inflation targets and instrument rules
Higher targets would not re-anchor inflation expectations, ECB vice-president says
Esma says regulators should wait before imposing quantitative SFT haircut triggers
Decision on policy change should wait until 2018, authority says; chairman says “sheer size” of market makes transparency important
ECB officials and Borio disagree on falling real rates
Vítor Constâncio and François Villeroy de Galhau emphasise importance of saving-investment mismatch, while Claudio Borio stresses financial cycle, but speakers find some points of agreement
ESRB recommends EU states reciprocate Estonian capital buffer
European Systemic Risk Board’s recommendation is only second time it has suggested regulators should reciprocally adopt a new macro-prudential measure
Draghi raises possibility of ‘public backstop’ for NPLs
Eurozone recovery is continuing with credit conditions and volumes increasing because of quantitative easing, Draghi says; backstop would be “very useful”, but require Commission support
Constâncio calls for ‘deep reflection’ on public support for banks
ECB vice-president Vítor Constâncio suggests European Union should consider relaxing its rules on state aid to banks; cites IMF concerns and example of US bail-out
Constâncio points to systemic risk from investment funds
ECB vice-president Vítor Constâncio says increased size and risk-taking by under-regulated investment funds call for new powers for regulators
Vítor Constâncio calls for macro-prudential tools to reach beyond banks
Authorities should be granted wider powers over alternative investment funds and shadow banking sector, including margins and haircuts on derivatives and securities financing, Constâncio says
Europe would benefit from more centralised macro-prudential tools, says ECB vice-president
Macro-prudential regulation of housing sector successful in UK, and the SSM should be in a position to set similar policy in the eurozone, Constâncio says
Constâncio: ECB working to overcome stress test limitations
Current ECB stress tests have multiple limitations including some macro-prudential considerations, ECB vice-president says
Fischer watched for rate views as Jackson Hole concludes
Symposium at Kansas City Fed closes with panel discussion featuring Carney, Constâncio, Fischer and Rajan on Saturday; one early session considers ‘international price system’
Constâncio supports guided stress tests of shadow banks
ECB vice-president continues his campaign for new macro-prudential tools that can impact non-bank institutions, highlighting the importance of developing a ‘clearer picture’ of the sector
ECB’s Constâncio calls for eurozone to cut back on debt
ECB vice-president says deleveraging has proceeded slowly so far due to growth concerns; emphasises debt reduction ought to be done using diverse measures, but says primary surpluses are key
Constâncio suggests new shadow bank powers for Esma
ECB vice-president again underlines need for supervisors to take on new tools and responsibilities for tackling shadow banks, but suggests at least some may be wielded by other bodies
Constâncio tells national supervisors to ‘recognise and reciprocate’ regulatory measures
ECB vice-president suggests ‘automatic and mandatory reciprocity’ would benefit a range of macro-prudential measures in the eurozone; only one case of voluntary action to date
Greece raids local authorities for cash as repayments loom
Local authorities instructed to transfer cash balances to treasury accounts at the Bank of Greece; Constâncio says default would not ‘automatically’ push country out of the eurozone
Constâncio fleshes out wider macro-prudential vision
Vice-president at the European Central Bank wants toolkit to extend to a wider range of financial entities, including asset managers, as risks emerge elsewhere in the system
Macro-prudential policies can ‘tame’ the financial sector, says ECB's Constâncio
Monetary policy should be used to control the price of goods and services not asset prices; macro-prudential policies can address financial imbalances in spite of dearth of shadow banking tools
Constâncio: ECB ‘encouraged’ by reaction to QE
ECB vice-president points to rise in price of equities and bonds and drop in the exchange rate, but warns against reading too much into financial and real variables
Constâncio wants to ‘broaden’ European macro-prudential toolkit
ECB vice-president wants a broader macro-prudential toolkit to help smooth the financial cycle, including new instruments for the shadow banking sector
EC vice-president urges ECB to play its part in historic investment push
Jyrki Katainen highlights need for policy co-ordination as public-private EU investment fund is announced; ECB's Constâncio suggests no decision on QE in December
ECB health check leaves 13 banks to raise €9.5 billion
Results of comprehensive assessment show 25 banks with capital shortfalls, but remedial actions taken throughout year leave just 13 banks short of targets
Constâncio says ECB needs new tools to tackle shadow banking risks
Vice-president says central bank will need a broader arsenal to cope with risks in the shadow banking sector, suggesting the US and UK both have powers that could be useful
ECB and BoE seek insights into yield curve behaviour
Frankfurt conference aims to improve understanding of the yield curve in the wake of the financial crisis, at a time when European and US yields are diverging