Europe
Bosnia and Herzegovina central bank staff donate salary to fight Covid-19
Over $20,000 will be donated to charities including the Red Cross
Trends in reserve management: 2020 survey results
Covid-19 expected to dent the risk appetite of central bank portfolio managers; socially responsible investing gains ground
Norges Bank supervisory board strongly criticises contract with new SWF head
Board tells lawmakers the contract agreed by central bank governor lacks sufficient safeguards
ECB testing banks’ ability to deal with a second wave of Covid-19 – Enria
ECB head of supervision stresses banks are reluctant to use buffers because of market reaction
Euro carves out role as currency of choice for green finance
ECB report finds overall internationalisation of the currency was “stable” in 2019
ECB and Romanian central bank set up repo swap line
Romanian currency has fallen in recent months as central bank lowers rates in response to pandemic
Lane warns eurozone faces ‘substantially negative’ price pressures
Tighter financial conditions and falling inflation called for expanded QE, says ECB chief economist
Bundesbank paper looks at effective lower bound
Modellers can use survey information to reduce impact of ELB on yield decompositions, author says
Central banking enters a new era
Central banks face a delicate balancing act to preserve their reputations as they evolve into ‘buyers of last resort’ and some of their actions appear functionally equivalent to ‘monetary financing’
ECB expected to sharply increase PEPP purchases
Central bank could start reinvesting PEPP securities and increase supranationals’ share
DNB paper says eurozone investment-saving curve flatter in recent years
Persistently low interest rates in eurozone appear to have weakened monetary policy – researchers
ECB’s Enria unsure banks will dip into capital buffers
Anxiety over investor and rating agency reaction may limit banks’ use of Covid relief measures
European Commission pushes for €750 billion budget expansion
Shared financial resources designed to support weakest EU members while spreading cost
Eurozone approaching ECB’s worst-case scenario – Lagarde
Economy likely to shrink by over 10% in 2020, says ECB president
French governor says ECB could directly fund loans
Villeroy de Galhau also calls for flexible emergency purchases but rules out yield curve control
ECB warns banks face significant losses due to Covid-19
Central bank stresses fiscal and monetary interventions have contributed to stabilise markets
ECB minutes hint at further easing measures
Governing council discussed expanding size and scope of pandemic purchase programme
Banque de France CBDC project uses blockchain to settle transactions
Central bank and French lender use blockchain platform to pay for €40m securities tokens
ECB to integrate climate risks into supervision
Climate change is pushing banks to adapt risk management, disclosure, governance and business strategies
UK issues negative-yielding bond as inflation wilts
Inflation dropped sharply in April amid the coronavirus lockdown
Lagarde welcomes Franco-German fund plan
Covid-19 response fund would be drawn from common EU budget
Eurozone saw limited price convergence from 2001–11 – Bank of Spain
Researchers say this limited long-term alignment should be added to central bank policy framework
Mersch says retail CBDC could destabilise financial system
Central bank digital currency could worsen bank runs and harm disintermediation, ECB official says
ECB widens scope of female recruitment targets
Central bank’s efforts to recruit women will now reach down past senior roles