Europe
Immigrants smooth eurozone labour market shocks – Bank of Italy paper
Non-EU immigrants have higher mobility than Europeans moving between countries – researchers
ECB nominates Enria as next head of banking supervisor
Italian candidate likely to be accepted as next head of SSM
Eurozone may be close to potential growth – ECB paper
But all estimates of potential GDP should be treated with caution, researchers argue
UK banks struggle in EU-wide stress tests
Italian banks also suffer heavy losses in EBA’s most severe test conducted to date; BoE says UK faced tougher test than others
The EU tries to rethink its faltering AML regime
The European Union plans to centralise its anti-money laundering efforts following a series of scandals this year. Dan Hardie looks at the options available and the multitude of challenges that remain
Nouy says time is right for Europe-wide deposit insurance
Governments should “consider some solidarity”, ECB’s chief supervisor says
People: Macedonia appoints two female vice-governors
ECB brings statistics expert from Eurostat; RBNZ creates position of manager communications
Book notes: The bank that lived a little, by Philip Augar
History of British commercial bank Barclays fails to address key questions, writes Michael Taylor
Eurozone wage rigidity largely persisted in great recession – Finnish paper
Frequency of wage changes fell in recession in many countries, researchers find
Draghi confident Italy and European Commission will reach deal
ECB president says momentum is slowing but points to higher negotiated wage growth
Hurdles remain for euro as international reserve currency
Dollar’s incumbency, institutional deficiencies and rise of the renminbi hamper the euro’s progress
ECB’s normalisation could spell trouble for Italy’s bond market
Rome’s budget row with Brussels escalates just as QE is about to halt
Donnery and Enria in contention for top SSM job
Shortlist narrows after closed-door session at the European Parliament
ECB paper presents new sovereign stress model
New method builds on earlier CISS model to measure systemic stress in eurozone
Unconventional policy is best response to financial shocks – ECB paper
Non-standard measures shield borrowers from unwarranted lending rate rises, researchers say
Riksbank says all banks should be ‘obliged’ to continue cash services
Central bank goes “a step further” in ensuring government legislation keeps cash alive in Sweden
SRB should publish banks’ MREL requirements – EBA’s Enria
But market abuse rules need amending to avoid SRB disclosing confidential resolution actions
Regional financing bodies agree to deepen co-operation
All three major regional financing funds now linked by MoUs
Exchange chiefs back Giancarlo in tussle over CCP oversight
CFTC may block US CCPs from acceding to EU supervision
Financial regulation reform must not stop, Olli Rehn tells IMF
Foreign-denominated lending may threaten emerging markets, Finnish governor warns
Draghi warns of dangers of ‘cliff-edge Brexit’
ECB president says some governments are endangering central bank independence
ECB board weighs external risks in policy meeting
Risks in growth outlook “broadly balanced”, ECB reports
UK payment service providers at risk under ‘no deal’ Brexit
Payment service providers risk being locked out of Target2 and Sepa
Shift to internal models has increased largest EU banks’ risk – Finnish paper
Exposure to market risk of biggest European banks has grown over last 30 years, researchers find