Europe
Croatian governor: western Europe could improve NPL provisioning
Central and eastern European countries are leading the way in dealing with NPLs, says Vujčić
ECB issues guidance on leveraged transactions
Senior management must have a “comprehensive” view of all leveraged loans
French paper looks at impact of budget-neutral fiscal changes
Benefits and costs of budget-neutral changes “not equally distributed across agents”
Banks mull dedicated IFRS 9 capital buffers
Volatility of loan-loss provisioning from new accounting standard demands additional own-funds protection, say banks
Dombret defends SSM as a ‘supervisory framework’
Bundesbank board member acknowledges there are issues, including communication, with the SSM and suggests targeting language barriers to reduce “home bias”
ECB sets out standards for bank board members
New guidelines are an effort to harmonise standards across eurozone states
Europe needs reform, Draghi says
ECB president repeats call for European deposit insurance scheme
Industrial goods inflation may be building, ECB says
Prices of goods produced in eurozone see only “subdued” growth
French regulator lays out plan to capture London euro clearing
AMF calls for equivalence to be scrapped for biggest CCPs and trade repositories
Considerable slack may remain in eurozone labour market – ECB
Under-utilisation of labour may affect 18% of eurozone labour force, researchers say
Growth of shadow banks led by risky investment vehicles – FSB
Shadow banks continue to gain ground, with those offering liquidity and maturity transformation showing some of the fastest growth
Capital deepening ‘virtually absent’ in US and eurozone – ECB
US and eurozone have seen major falls in net investment, an ECB article says
Bank of Italy paper finds no evidence of asset over-valuation
Researchers look at data from eurozone, Japan and US from 1980 to 2017
Mersch warns banks not to turn away from cash
Central bankers witness “frequent lobbying” to abolish cash, ECB board member says
Stress tests uncovered new data on large banks – ECB paper
Market reactions differed in 2014 and 2016, researchers say
Lautenschläger warns of ‘fragmented’ regulation in eurozone
Regulators should have powers over investment companies, ECB official says
Cash holdings lessen chance of ‘forced sales’ by mutual funds, paper says
Researchers use data on Italian open-ended mutual funds
ECB paper looks at PSPP’s ‘flow effects’ on sovereign bond yields
“Flow effects” have limited but real impact, researchers find
Esma calls for tougher regulation of credit ratings agencies
European laws mentioning credit ratings should be revised, regulator says
ECB says EC must look at regulation of non-bank finance
Central bank calls for “careful balance” on securitisation proposals
ECB paper studies impact of Fed surprises on other countries
Researchers find similar effects on real economy but differences in financial impacts
People: Atlanta and Richmond Federal Reserve banks fill senior roles
New vice-presidents among other appointments at Fed banks in Atlanta and Richmond; ESM appoints deputy counsel
Central Bank of Malta restructuring probably complete
The institution is moving from five directorates to six divisions; latest changes see statistics department partnered with financial stability as overlaps between them increase
Trade costs limit effects of internal devaluations – ECB paper
Researcher says trade costs explain Greek failure to boost exports