Europe
PBoC is navigating into uncharted waters on RMB
Beijing and its central bank need to think carefully and act responsibly as the renminbi is steered into uncharted waters
European bank capital to rise by €135bn to meet Basel III
Minimum capital requirements would increase on average by 24.4%, says the European Banking Authority
Irish officials increase criticism of incoming governor
Media reports that former governors and ECB all raised concerns over Makhlouf’s appointment
Carney issues sharp warning over Brexit
MPC says future inflation path is unclear as governor says uncertainty is damaging economy
Sovereign default risk affects bank assets – Bank of Italy paper
Researchers look at data on bank assets from 15 countries from 2004–18
Germany’s constitutional court rejects case against ECB supervisory powers
Plaintiffs claimed transfer of regulatory powers to European level was not covered by EU treaties
Bank of Italy and state mint set up new company
Joint venture aims to become “centre of excellence” for printing documents with security features
Draghi sounds alarm over eurozone inflation outlook
ECB will look at new methods for boosting inflation as Draghi toughens language
Bank of Spain launches data lab for research
Economists now have access to micro-data on the country’s non-financial firms
EU risks creating unlevel playing field in fintech – EBA report
European fintech companies are increasingly coming under EU regulation, report says
ECB warns Slovene government over draft law on loans
New measure could expose central bank to political risk and harm commercial lenders, ECB says
ESM shakes up management structure
EU agency adds board member and new divisions to prepare for expanded role
BoI paper presents new method for eurozone inflation forecasts
Model works well to predict inflation using data from bloc’s four largest economies, authors say
Venezuelan opposition nominates ad hoc central bank board
Legislature aims to prevent Maduro’s regime from accessing gold and foreign currency reserves
Croatian central bank moves towards “close co-operation” with ECB
Draft law forms part of process for joining European single currency
IMF backs ECB’s looser stance
Directors concerned about banks’ low profitability, and call for common deposit insurance scheme
People: Tombini to head BIS Americas office
Former Brazilian governor to implement new banking strategy; plus appointments in Europe
ECB paper presents new approach to modelling LTV caps
Agent-based model’s results show “subprime” segment to eurozone housing markets – researchers
Three EU central banks hail success of Belarus project
Capacity-building project was first such EU mission in country noted for strong Russian links
Purists lament as most cheer Lagarde as next ECB chief
Lagarde expected to adopt similar philosophy to Draghi at ECB, making the central bank the ‘only game in town’ – at least for a while
The twilight of banking supervision
Supervision of banks in Europe has deteriorated, rather than improved, since the advent of the eurozone crisis
ECB needs liquidity powers for bank resolution – Spanish governor
De Cos stresses mechanism must include guarantees to repay public money
Population ageing could reduce inflationary pressures – Bank of Spain deputy
Older populations in advanced economies likely to increase saving and reduce investment – Delgado
Next IMF chief could be non-European
Carney and Carstens among possible candidates as institution seeks successor to Lagarde