Europe
Esma acts to give UK-based CCPs EU access if ‘hard Brexit’ occurs
Banque de France governor says equivalence must last “no more than a year or so”
Brexit vote has hurt UK investment – IMF paper
Researcher presents proxy term for UK firms’ exposure to Brexit costs
QE has persistent impact on foreign exchange, researchers find
European Central Bank QE caused euro to fall 12% against dollar - Dallas Fed paper
Riksbank considers joining EU’s faster payments system - deputy governor
Cecilia Skingsley says Riksbank is reviewing how it distributes central bank money
ECB paper examines banks’ responses to unconventional policy
Weaker banks’ sheets reduce credit supply in response to conventional policy shocks, paper finds
ECB sets up anti-money laundering office
Nouy says new office will enable information exchange and act as “centre of expertise”
Riksbank urges introduction of 5% leverage ratio
Sweden’s central bank sounds the alarm to fellow supervisor, urging action as housing market uncertainties begin to threaten financial stability
ECB unveils richer eurozone forecasting model
“NAWM II” models financial sector’s role in originating and propagating economic shocks
Weidmann calls for dropping QE tools in normal conditions
Long-term ultra-loose policy may have shifted natural rate of unemployment – Bundesbank head
Cyber attacks could lead to financial crisis – Cœuré
Security must improve both at core and periphery of financial markets, senior ECB official says
IMF programmes do not harm governments’ financing ability – ECB paper
Governments use IMF as an excuse when “struggling with transparency”, authors argue
EU stress tests should follow US example – EBA chairman
Enria says EU process is too slow and opaque compared to US approach
ECB paper looks at large database on inflation expectations
Expectations more powerful when lower bound on nominal rates is binding, researchers find
ECB prepares to supervise largest Bulgarian banks
Move comes as Bulgarian government attempts to join single currency
People: Former Malawian governor dies
Mathews Chikaonda served as governor in the 1990s; new senior appointments made at the BIS; and more
The euro: a troubled third decade?
Italy’s pact-busting budget highlights ongoing eurozone frailties
Housing bottlenecks could boost eurozone inflation – ECB paper says
Labour shortage, scarcity of building land, and administrative hurdles could limit supply
EU offers Iran sanctions relief with new clearing house
Iran retains access to Swift network despite US sanctions, but new clearing house could provide permanent loophole
Three tricks to remove a troublesome Eurosystem governor
Eurozone authorities have learnt how to circumvent central bank independence – emboldened by feeble action by the European Commission
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