Europe
Italy amends laws on capital gains to ease sovereign debt pressure
New laws imposed on capital losses by the Bank of Italy signals continued fragility in European markets
Europe to place CDS markets under spotlight: Barnier
European commissioner Michel Barnier says legislation in works requiring credit default swaps to be registered and made fully transparent; follows criticism of investors from European leaders
Ten issues for regulators to consider
René Smits devises ten key issues that European financial legislators must consider when constructing the post-crisis regulatory framework
Interview: Peter Praet
Fortis’s collapse all too well illustrated the difficulties in saving cross-border European banks. But the ideal solution, a European crisis resolution authority, remains a distant dream. However, there is an existing, yet perhaps unusual, candidate from…
NBB’s Praet backs DG Competition for EU resolution authority
National Bank of Belgium’s Peter Praet says Directorate General for Competition could play credible role in resolving failed banks
Banks should not rely on CDS spreads for credit risk
National Bank of Belgium study highlights a number of shortfalls in policymakers’ use of CDS spreads as an indicator for bank risk
Bank of Israel - Inflation Report Q1 2010
Bank of Israel report shows interest rates likely to continue rising
Bank of Japan: financial integration stronger in developed markets
Bank of Japan paper finds financial integration more advantageous to developed countries
Bank of Italy: debt-saddled Italian firms struggle to compete in Europe
Bank of Italy paper puts low productivity of non-financial firms in Italy to inherently high indebtedness in the country
IMF: Russian housing market vulnerable to external shocks
IMF paper shows house prices in former Soviet countries are vulnerable to foreign capital inflows in open economy model
BOE policy on hold on downside risks in Europe
Bank of England minutes shows its Monetary Policy Committee left rates on hold amid continued economic uncertainty in Europe
Trichet bids farewell to Skrzypek
ECB president Jean-Claude Trichet offers condolences at Skrzypek funeral
EU finance chiefs to mull creditor haircuts
European finance ministers will discuss proposals to dock uninsured creditors and adopt instruments that convert debt to equity in distress at informal meeting on Saturday
Central bank net gold sales fell 80% in 2009
Slowdown in European sales and India's purchase from IMF lead net sales to slump to 41 tonnes says research body
IMF stockpiles funds for crisis resolution
Fund prepares for the worst with $500 billion in extra funds from a standing borrowing arrangement with selected members
Trichet: fixing public finances precursor to price stability
Jean-Claude Trichet calls for member states to put public finances in order
Only the IMF can save Greece: Berlin
German government backs away from a European bailout for debt-ridden Greece, Fund rescue looks increasingly likely
RBA justifies March rate hike
Signs of revival in economic activity convinced board members to hike rates by a quarter point
Investment growth declines in Europe
Central Bank of Ireland research shows that while declines in investment growth is larger in US compared with the eurozone this year, it continues to lag behind the US overall
Greece not looking to bond markets for now: debt chief
Greece’s new head of public debt management says the country will not rush to tap sovereign debt markets; austerity package with extra cuts sends yields plummeting
Bulgaria relaxes capital adequacy rules
Bulgarian National Bank announces adoption of further countercyclical capital measures, reducing risk weights on retail and real estate exposures by 25 and 15 percentage points
Income convergence and inflation in central and eastern Europe
Bank of Estonia paper finds that income levels and inflation are correlated in the long term, but not in the short-term, with the process of convergence appearing to be slow
Cooperation key to EU stability: González-Páramo
European Central Bank’s José Manuel González-Páramo says EU institutions must share expertise and statistical information
Iceland’s Gudmundsson: EU legislation guilty
Central Bank of Iceland’s Már Gudmundsson says the risks in cross-border banking were underestimated