Europe
Eurozone fiscal rules have major pro-cyclical effects – DNB paper
Researchers say strengthening fiscal buffers may modify stability pact’s effects
Esma head issues Brexit warning over UK CCPs
Maijoor calls for continued access for EU members
Cyber security should become part of a firm’s culture – Irish deputy governor
Warnings must not get diluted as they pass up the chain, Sibley says
Draghi’s ‘whatever it takes’ cut bank risk-taking – BIS paper
Study examines Mexican markets to pick out effects of the ECB president’s intervention
Mersch issues warning to European payment providers
European firms must innovate or risk being competed out of instant payment sector
Bail-in regimes lower costs of resolution for states – ECB paper
Researchers present structural model of bank re-capitalisation
Euroclear to offer US dollar settlement in central bank money
New settlement should reduce credit and operational risk on settlement banks
ECB says Cyprus must act carefully over NPL plans
Government must also take care over treatment of assets of collapsed bank, ECB cautions
People: Mexico appoints board member
Jonathan Heath to join Bank of Mexico board; new deputy governor in Solomon Islands; Google’s Julien Blanchez to head Swift data analytics
EBA raises ‘serious concerns’ over Malta’s AML regime
Enria calls for changes to EU’s AML regime and says Maltese authority must make major changes
Draghi calls for new macro-prudential tools
Policy-makers do not fully understand “shadow banking” sector, Draghi tells ESRB
DNB says Dutch banks must tighten money laundering controls
Netherlands Bank calls for harmonisation of European AML regulations and beefed-up EBA role
EBA warns on funding stresses from QE exit
‘Mediterranean’ banks’ reliance on repo funding could be tested by withdrawal of stimulus
ECB narrows down choices for next supervisory head
Donnery, Enria and Ophele will appear before European Parliament
Cash still reigns in euro area
Large number of countries still use cash for high-value payments, but national disparities remain
Globalisation becomes more divisive as it advances – Dani Rodrik
Harvard economist says gains from trade may not outweigh redistributive problems
EU countries to build payments link with Iran
“Special purpose vehicle” designed to allow “legitimate business” with Iran, despite US sanctions
EC’s Cyprus ‘failure’ undermined Eurozone central bank independence – Demetriades
Barroso’s decision not to take legal action against Cyprus for undermining the independence of the central bank damaged the ECB’s authority and emboldened others, claims former CBC governor
People: NY Fed names new chief information officer
Pamela Chase Dyson to lead tech group; Richard Clarida sworn in; EBA appoints board member
Demetriades says EU-level AML enforcement vital to tackle ‘security risk’
Centralised and credible AML enforcement body needed to complete banking union and protect EU security, says former Eurosystem governor
European banking and capital markets union would foster growth – Draghi
More integrated financial markets can contribute to higher productivity growth, says ECB president
ECB should enhance forward guidance during normalisation – Cœuré
Executive board member thinks changing economic phase and QE unwinding require more communication
Demetriades on political pressures on central banks and their governors
Former governor of the Central Bank of Cyprus speaks about the Cypriot banking crisis, the need for EU-wide AML oversight, independence and his fears for stability of the monetary union
Banks will ‘inevitably’ fail, says Ireland’s Donnery
Deputy governor takes stock of the policies implemented since the financial crisis to protect consumers against bank collapse