Europe
Central banks can be ‘too cautious’ with policy, BdF paper says
Timid responses to price shocks may increase inflation expectations, researchers argue
BoE puts American spin on fix for FRTB’s govvies dilemma
Four jurisdictions find four different ways to resolve Basel market risk capital quirk
Europe’s new AI Act threatens supervisory ‘chaos’ for banks
Policy-maker says new role for European Commission could collide with ECB model risk regulation
ECB publishes wholesale credit markets survey
No tightening in terms for euro-denominated securities, central bank finds
Basel’s cherry-picking toughens IRRBB shock scenarios
European banks want higher outlier thresholds to offset higher confidence level in new standard
ECB paper examines household inflation differences
French and German consumer data shows heterogeneity is driven by product choice, research finds
EquiLend cyber hack exposes trade reporting dependence
Ransomware attack at securities lending platform disrupts regulatory compliance
Italian governor concerned over Russian asset seizure, officials say
Panetta says renminbi has overtaken euro as international currency since Russia invaded Ukraine
ECB holds rates as Lagarde expresses optimism
Several observers think rate cut before June is more likely as ECB says policy is working
ISO 31000 and COSO–ERM remain central banks’ leading standards
Central banks from high income countries less likely to use COSO–ERM
Faster deposit flows will affect bank runs, ECB paper says
Bindseil and Senner say several factors are increasing size and speed of deposit runs
Mean risk management salary greater in high income countries
Salaries average $72,738 in rich countries but $33,464 in upper-middle income nations
Over half of ECB staff think Lagarde’s work is poor, union claims
ECB rejects survey as flawed and says its own figures show high levels of pride among staff
Most central banks have difficulty hiring skilled cyber security staff
Respondents highlight pay disparity, skills gap and technological advancements as factors
Monetary policy affects insurers’ balance sheets, ECB paper finds
Eurozone insurance firms increase asset holdings and risk-taking if policy loosens, researchers say
Exit rate of risk management staff averages over 10%
Workers in middle income institutions tend to leave at a higher rate
European monetary transmission ‘weaker and slower’ – IMF paper
Latest tightening cycle weakened by market concentration and ample liquidity, authors find
Operational and financial risk units have largest staff
Upper-middle income institutions have largest average total number of risk employees
Enterprise-wide risk management widespread among central banks
Few institutions maintain use of department-level and damage limitation approaches
Most central banks lack climate risk units
Just under half of institutions say they have difficulty hiring staff with matching skills
Cyber and fintech risk policies rejigged in a few central banks
Departmental structure varies across jurisdictions
Minority of central banks altered risk functions in past two years
Amendments emanate from factors including technology and climate change
Bundesbank paper looks at role of carbon emissions disclosures
Obliging firms to increase transparency boosts low-carbon investment, researchers find