Europe
Firms must prepare for reference rate transition – ECB working group
New €STR rate will be recalculated on same day if major errors are detected, report says
Bundesbank sees risk of recession in Q3
Economic report paints bleak picture as eurozone inflation continues slide
Bank of Portugal paper assesses unconventional policy
Forward guidance and asset purchases had significant effects on equities markets – researchers
Carney warns Germany and France of Brexit derivatives cliff edge
Bank of England governor says it is in the “interest” of EU countries to ensure the full viability of financial contacts ahead of Brexit
ECB shuts down Latvian bank involved in Rimšēvičs affair
Small lender's owner accused central bank governor of extortion and sued regulatory authorities
ECB website stays down after hacking attack
Hackers reportedly put illegal “phishing” software on BIRD website, which is operated by third party
‘Animal spirits’ are real, DNB paper says
Researchers analyse data on household spending and consumer confidence
Fed paper looks at negative rates’ impact on eurozone banks
Effects of policy rate cuts on equity change past the zero lower bound, researchers say
Central banking’s 30-year cycle
Central banking has hit another crossroads, writes Central Banking founder Robert Pringle
Negative ECB deposit rate had limited effects – Bundesbank paper
Well-capitalised banks in core countries responded most to negative rates, researchers find
ECB criticises Polish draft law on mortgages
Proposal would harm banks’ financing ability and hinder emergence of securities markets
ECB’s bond purchases restrict monetary policy – DNB paper
Higher demand for safe assets widens bond yields and cuts policy transmission, says researcher
Slovenian central bank reports good stress test results
Central bank has had long-running dispute with government over bank bail-ins
ECB’s asset purchases didn’t always stimulate bank lending – research
Sounder banks reduced lending to non-financial firms, Bundesbank paper finds
Eurozone bank productivity growth fell over last decade – ECB paper
Researchers try to quantify eurozone banks’ total factor productivity growth
Derivatives users split over legacy Libor swaps
CCPs say cleared swaps will move to new rates if Libor is no longer representative of markets
BDF paper presents model for larger stress-tests
Model can be used to analyse impact of macro-prudential measures, authors say
ECB paper models eurozone’s vulnerabilities
Model can be used to predict build-up of major macroeconomic imbalances, researchers say
IMF’s Adrian on the big tech threat and why a ‘non-system’ works
The IMF’s financial counsellor speaks about risks from big tech’s move into fintech, the fund’s efforts to craft well-targeted policy guidance and why the current international monetary ‘non-system’ works
ECB to assess Croatian banks in euro membership prep
Croatia could join the eurozone by 2024
Central banks need better crypto asset data to contain risk – ECB research
Links between crypto assets and regulated financial sector may increase and challenge regulatory frameworks; ECB creates own database
An inside story on the central bank gold agreement
Robert Pringle reveals details of Mbeki’s appeal to central bankers
BoI paper uses shadow rates to measure influence of QE
Fed’s policy weakened dollar from 2011–14, researchers find
Institutional approaches are key factor in mortgage defaults – BoE paper
European countries show major differences in mortgage default factors, researchers find