Yves Mersch
European authorities warn of dangers in cryptocurrency markets
Spanish and Dutch central banks warn of “misleading” data and unregulated markets
Instant payments crucial to stop crypto disruption – Mersch
ECB board member reiterates concerns around viability of crypto-currencies, while encouraging banks to adopt instant payment networks
Flexible working may shift Nairu, ECB’s Mersch warns
Technology may increase insecurity and weaken collective bargaining, says senior ECB figure
Mersch criticises Commission over securitisation regulation
Some ‘STS’ provisions reduce transparency and increase complexity, ECB board member says
Mersch warns banks not to turn away from cash
Central bankers witness “frequent lobbying” to abolish cash, ECB board member says
Mersch: no political appetite for ‘European safe bonds’
The proposal for pooled, tranched bonds is “interesting”, but the public are likely to be suspicious
Mersch: volume of T2S trades due to greatly expand
The “Target instant payment settlement system” could be working as soon as 2018, Mersch adds
Regulations and QE impacting repo market – ECB’s Mersch
Executive board member says “confluence of factors” has boosted demand for collateral and impaired its supply, but the situation may improve
‘Digital base money’ could hinder monetary policy, ECB official warns
Mersch examines means of issuing central bank-backed digital money to non-banks
ECB announces plans for instant payment system changes
Coming year will see “decisive” innovations to clearing and settlement systems, Yves Mersch says; French governor calls for more European competition in payment services
Draghi and Mersch seek to calm German fears
The ECB’s task will be harder if Germans feel discriminated against, Mersch says; Draghi points to evidence that QE helped German savers
ECB’s Mersch: central banks have failed to correctly assess growth potential
Central banks were “over-reliant on pro-cyclical forecasts” before the financial crisis, ECB board member says; repeats call for fiscal stimulus and structural reform
Mersch says eurozone deposit rates are only ‘mildly’ negative
ECB board member says rates can be “mildly” but not “wildly” negative before costs outweigh benefits; calls for faster progress on banking union
ECB's Mersch cautions against ‘extreme’ policy measures
Central bank cannot fulfil mandate with “mathematical equations”, says Mersch, warning currency can be undermined by “extreme measures”
Mersch stresses importance of democratic legitimacy in Europe
Executive board member at the ECB wants to see the decision-making process in Europe enhanced; calls for a “shared EU-wide identity”
Mersch sets out broad questions around distributed ledgers
Yves Mersch considers how access to central bank money could work if market infrastructure adopts the technology; ECB publishes paper on its application in post-trade market for securities
ECB’s Mersch provides update on infrastructure work
Yves Mersch says business requirements being gathered from market participants ahead of instant payments; highlights plans for review of harmonisation of collateralisation procedures
German constitutional court to rule on OMT ‘in a few months’
Germany’s constitutional court is reviewing the European Central Bank’s outright monetary transactions and their application under German law; decision expected 'in a few months'
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
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
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
Eurosystem to consider Target2 and T2S merger
Yves Mersch says officials will look into the potential for consolidating some components of the payments and securities settlement services; potential for one unified platform
ECB’s Mersch calls for stricter convergence in eurozone
Executive board member says convergence should be more strongly enforced, as this could help pave way for common decisions in some areas of fiscal policy
ECB’s Mersch dismisses concerns over T2S launch at weekend
ECB executive board member admits a few bugs remain in Target2 Securities system, but argues they are not major and will not interrupt this weekend’s migration