Europe
Italian paper looks at effects of crisis on interbank network
Integration fell in 2007–8 but rose after ECB adopted unconventional policy, paper finds
Commission’s CCP powers ‘might not lead to exodus from UK’
US regulation of CCPs provides a “plausible template” for the eurozone, says commentator
European supervisory authorities set out AML-CFT guidelines
Document spells out methods for implementing “risk-based approach”
US dealers wade into European CCP relocation debate
CFTC hearing warns of increased margining costs and a pre-Brexit client onboarding crunch
BoE ups capital buffers as consumer credit outstrips income
“Pockets of risk” including effects of Brexit negotiations and car finance warrant attention, BoE says, though it stresses overall stability threats are at “normal” levels
EC approves state aid for two Italian banks
Small regional banks will receive about €5 billion, having avoided resolution
Exogenous constraints affected asset purchase programme, Irish paper says
Research letter looks at impact of extended scheme
ECB announces instant payment settlement scheme for 2018
“Tips” will be based on existing Target-2 system
ECB requests powers to regulate CCPs
Brexit heightens concern over importance of central counterparties
PSPP’s effects became significant after expansion – Irish paper
Paper examines responses of Ireland-domiciled investment funds
Recovery increasingly resilient; inflation predictions down – ECB
GDP forecasts revised up and ECB says recovery is “broadening”, but inflation projections revised down
Asset purchase programme is key to central bank credibility – ECB paper
Researchers analyse market reactions to unconventional monetary policy decisions
Commission should have power to order CCPs to relocate to EU – Cœuré
The power would be one among many, says ECB executive board member
Europe must learn right lessons from crisis – Olli Rehn
Moral hazard should not dominate policymaking, Finnish board member says
Little evidence to support ‘global slack’ thesis, ECB paper argues
Researchers say global spare capacity is not increasing as an influence on eurozone inflation
EBA calls for tighter money-laundering curbs on crowdfunding
EC should make consumer protection a “key” part of its fintech approach, the EBA says
Greek bailout funds approved but debt relief still contentious
IMF agrees “in principle” to new support for Greece, unlocking European funds, but parties still fail to reach accord on debt relief
Former central bank governors debate unconventional monetary policy
Trichet, Shirakawa and Weber agree unconventional tools may have outstayed their welcome; costs of tools used during the crisis will not be known for some time, Weber says
ECB buys €500 million worth of renminbi for forex reserves
Belgian central bank also announces purchase of Chinese currency, plus South Korean won
ECB gives mixed reception to new macro-pru measures
Austrian proposals welcomed, but ECB raises concerns over Belgian draft law
ECB paper calls for EU-wide bond-issuing agency
Authors propose the ECB and a bond issuer should work together to stimulate eurozone
ECB provides detail on stress-testing methods
Top-down approach helped supervisors challenge banks’ results, ECB says
The ECB must reform Target2 to make it sustainable
Target2 has emerged as the eurozone’s financing entity for ballooning structural balance-of-payments gaps. The present system is unsustainable and needs reform, says Philip Turner
Cross-border deposit insurance would not be unfair – ECB article
Contributions to scheme should be on the basis of risk, researchers argue