Europe
European Court of Justice overrules ECB on French banks’ leverage
ECB’s reasoning on treatment of French savings accounts was “manifestly incorrect”, court rules
EBA demands rapid reform at Maltese AML agency
Bank owner arrested in US and charged with financial crime on behalf of Iran
ECB needed better data in 2008 crisis, says Lautenschläger
Money market data was “limited” and published too infrequently, says senior ECB official
GDP growth only raises profits for some banks – Bank of Italy paper
Banks with large loan portfolios benefit from GDP growth – researchers
ECB expresses doubts over Irish draft law on consumer credit
Proposed law could create legal uncertainty over Irish central bank’s powers, ECB says
ECB’s next president should not be part of G30 – EU ombudsman
Watchdog says central bank is “in denial” over Draghi’s membership
Book notes: Unfinished business, by Tamim Bayoumi
Anand Sinha praises Bayoumi’s analysis of how the euro crisis and US housing crash were, in fact, intertwined
Praet gives upbeat assessment of eurozone outlook
Strength of the eurozone economy gives “grounds to be confident” on inflation, chief economist says
ECB’s QE has dampened volatility in Eastern Europe – BoI paper
End to ECB asset purchases might increase volatility in EU-6, researchers say
European banking union insufficient to withstand next crisis – Portuguese governor
Common supervisory and resolution tools are in place, but Europe lacks a deposit insurance scheme
Bank of Lithuania lures fintech firms with e-licensing tool
Portal promises to streamline approval process as country seeks to become fintech hub
ECB warns EU may be making wrong assumptions on ageing
Eurostat projections more favourable than those of other agencies – ECB bulletin
People: new RBI deputy; Ingves to chair Toronto Centre
ECB appoints director general of micro-prudential supervision; HKMA has new executive director of financial infrastructure; Liberia appoints new board
European regulator says insurers must prepare for Brexit risks
Firms must put measures in place to ensure continuity for cross-border contracts – Eiopa
Eurozone requires both banking and capital markets union – panellists
Status quo is highly procyclical and hampers risk sharing, IMF conference hears
Central bank digital currency would be unsafe – senior ECB official
Lack of finality in payment could cause major instability, Benoit Coeuré says
Carney criticises EU stance on Brexit issues
Governor describes EBA analysis as “incomplete” and says time is running out for a deal on trillions of dollars in derivatives contracts
Eurozone governments’ post-crisis fiscal policies were ‘self-defeating’
Policies ended up being contractionary, IMF-organised conference hears
EU and UK firms unprepared for Brexit, warns EBA
Banks must speed up examination of Brexit risks and cannot rely on public sector, authority says
ECB’s Nouy says policymakers must reform banking governance
Only half of supervisors carry out ex-ante ‘fit and proper’ assessments, Nouy says
Issuing “foreign-law” debt can cut costs in times of crisis – ECB paper
Eurozone countries’ bonds issued abroad showed major premiums during debt crisis – researchers
Leading governors analyse evolving inflation-employment relationship
Powell, Draghi, Lowe and Kuroda assess causes keeping wage growth low across the world
UK lawmakers ‘satisfied’ with Visa response to outage
Visa has promised an independent inquiry into the incident that saw 5.2 million payments fail; firm reveals details of its recovery efforts
SNB should clearly assign policy tools, IMF report says
SNB can avoid impression of exchange-rate targeting through better communication, says IMF