Europe
‘Substantial’ accommodation still needed in euro area – Liikanen
Bank of Finland's governor says improved growth and investment prospects have failed to affect inflation; underused capacity expected to be taken up “gradually”
Italian finance sector must change, deputy governor says
Banks too exposed to cyclical conditions and firms too dependent on loans, Rossi says
Non-bank stress tests must be improved – Constâncio
ECB vice-president says stress tests for non-banks are still in a “fledgling state”
European Commission announces supervisory agency reforms
Proposals would see Esma’s powers significantly increased while all ESAs would gain executive boards
Banks fear uneven playing field on NSFR
Asian jurisdictions are likely to implement the key liquidity metric before the US and Europe
ECB develops new overnight benchmark rate
The new rate will complement the existing overnight benchmark, Eonia
ECB paper attempts rigorous testing of economic sentiment
Researchers correlate economic data from 1985 to 2016 with measures of sentiment
Tapering ECB asset purchases could free up market forces- Bundesbank board member
Market reaction hard to predict, Joachim Wuermeling says
Brexit makes regulatory arbitrage more relevant, Nouy says
Policy-makers should rely more on regulations and less on directives, ECB supervisor says
National curbs hit budding pan-EU settlement market
Restrictions on primary dealers undermine T2S efficiencies, market sources say
‘Significant non-linearities’ in debt-investment relationship, paper says
Researchers look at data from five peripheral eurozone countries
Only 30% probability of eurozone inflation hitting target in next year, paper says
Italian researchers present composite index based on 15 indicators of price dynamics
BIS’s Restoy warns against ‘supervisory straitjacket’
Rules-based frameworks for banking sector intervention may “unduly constrain” regulators, the head of the Financial Stability Institute says
Bank of Spain was one of toughest pre-crisis regulators, report argues
But counter-cyclical provisions were not high enough to cope with crises, Bank of Spain says
Benoît Cœuré: exchange rate pass-through has fallen for eurozone
ECB board member calls for reconsideration of IS curve modelling
Irish governor calls for fiscal prudence
The government’s debt target may need to be revised, argues Lane
‘Red teams’ will test cyber-security of European financial infrastructure
Bundesbank official praises “bug bounty” programmes that pay hackers to uncover vulnerabilities
Dispelling the German monetary myth
Economic historian Simon Mee finds the famous German aversion to inflation was the product of political battles in the mid-twentieth century
ECB will take ‘bulk of decisions’ on asset purchases in October – Draghi
ECB staff revise eurozone inflation decisions downwards despite higher expected growth
Q&A: Asia’s caught in the Basel crossfire – Andrew Sheng
Veteran regulator says international standards may be the wrong medicine for emerging markets
Big banks’ share prices more sensitive to rate moves – paper
Lower capital ratios diminish exposure to changes in the yield curve, says research
Irish central bank updates minimum competency standards
Mortgage institutions must give board members annual training; the move brings regulations into line with updated European laws
IMF explores Balkan female employment conundrum
Fund shows policies are needed to secure both supply and inclusion of women; quality of institutions should be improved
Italian bail-outs may set bad precedent, ECB supervisor warns
But recent resolutions show system is working well operationally, Angeloni says