Europe
Eurozone outlook is ‘highly uncertain’, says Lagarde
ECB maintains stimulus package unchanged as lower energy prices weaken inflation
The evolving role of central bank money in payments
The line between commercial and central bank money continues to blur, but the multiple-issuer/one-currency paradigm underpinning the current monetary system is set to remain in a CBDC world, write Ulrich Bindseil and Ignacio Terol
State guarantees helped prevent drop in business loans – ECB survey
But credit standards to households tightened further, as higher NPL ratios hamper credit provision
Banks used TLTRO to convert less liquid assets – ECB paper
Researchers say that broad collateral standards for first TLTRO series played important role
What makes for good financial supervision?
The Wirecard debacle has led to calls for more effective oversight in Europe. Andreas Dombret identifies four essential elements
Croatia and Bulgaria join ECB’s exchange rate mechanism
Both countries move closer to eurozone membership as largest Croatian banks come under SSM
Trust in big tech falters during pandemic – research
Netherlands Bank says trust in most public institutions has risen as banks step up during pandemic
European Ombudsman opens inquiry into BlackRock ESG advisory contract
Green lawmakers and NGOs say asset manager faces conflicts of interest, but firm rejects claims
People: CBSL gains board members; RBNZ forms new department
RBNZ fills two new payments roles; long-time Danish official retires from the central bank; ECB comms chief moves to private sector
Balancing data policies: what Covid-19 taught us
New rules are needed for data-sharing at a national and international level, write Theodoros Evgeniou, David Hardoon and Anton Ovchinnikov
Peter Praet on Europe’s Covid-19 responses
The former ECB chief economist talks about threats to financial stability, negative rates, common debt issuance and steps to improve the EMU
Eurozone inflation reached 0.3% in June
Eurostat estimates show significant differences in inflationary pressures between countries
ECB stresses capital requirements won’t hamper bank mergers
Central bank launches consultation on new guidelines on banking sector consolidation
Dividends should be subject to macro-pru limits – ECB paper
Measure would reduce volatility in loan supply and equity levels, economist argues
Coronavirus panic fuels a surge in cash demand
Covid-19 has led to banknote hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US, fuelled by concerns about financial system stress, write Jonathan Ashworth and Charles Goodhart
BIS expands innovation hub network
Several new locations unveiled in Europe and North America
Funds warm to Esma liquidity rules after Covid crisis
Funds are embracing stress-testing, and swing pricing, after “a real liquidity crisis” in March
Book notes: Stable banks in challenging times, by Andreas Dombret
Dombret’s stability and rule-based compass should be that for every aspiring central banker, worldwide
Weidmann to use ECB documents before German lawmakers - report
Bundesbank president’s appearance may satisfy conditions of German court ruling
ECB offers euros to non-eurozone central banks
Eurep facility aims to reduce international risks spilling over to eurozone, ECB says
New European payment effort delayed due to Covid
Consolidation of Target2 and T2S platforms hindered by pandemic
Weidmann to testify quarterly in parliament to explain ECB policy
Measure follows constitutional court ruling requiring ECB to demonstrate proportionality of government bond purchases
People: Nikhil Rathi appointed UK FCA chief
Stock exchange boss to take helm at regulator; new member of BoE committee named; Poloz to chair think-tank; Bank of Canada seeks CBDC project lead
Why has the euro failed as a global reserve currency?
ECB's Klöckers says fragmented capital markets and incomplete banking union holding euro back; while sovereign crisis and low yields contributed to 'underperformance' as a reserve currency, survey finds