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Opinion: Sepa opens borders for European money

Financial market infrastructure | 01 Aug 2014

ECB’s director-general of market infrastructure and payments reflects on the successful creation of the single euro payments area, its beneficial impacts and the payment cards challenge to come

Topics: European Central Bank, Europe, Single Euro Payments Area (Sepa)


Financial Stability

The international monetary ‘anti-system’

A network of systemic risk boards might improve stability in the absence of a viable international financial system, writes Jacques de Larosière.

Central Banking Journal | 12 May 2014

Tristan Carlyle

Monetary Policy

A new wave for polymer banknotes

Does the Bank of England’s move to introduce substrate banknotes represent a ‘tipping point’ for polymer currency? By Tristan Carlyle.

Central Banking Journal | 12 May 2014

Central Banks

Finance and the Holy See: creating a central bank

The Vatican is setting up a ‘central bank’ as part of an overhaul of its finances. Isabella Bufacchi and Carlo Marroni examine the options available to the the Holy See.

Central Banking Journal | 12 May 2014

Klaus Engelen

Financial Stability

ECB's Mario Draghi faces ongoing German ‘angst’

ECB president to face further German resistance on interest rates, banking union and OMTs – with Germany’s constitutional court ruling likely more problematic than some observers believe.

Central Banking Journal | 12 May 2014

Financial market infrastructure

Central bank support for CCPs and TRs

The wider use of central counterparties and trade repositories may pose challenges for central banks. Carlos León, Clara Machado and Ricardo Mariño explain the tactics central banks are adopting.

Central Banking Journal | 12 May 2014

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Central Banking books


HSBC Reserve Management Trends 2014

By Robert Pringle and Nick Carver


Directory of Financial Regulators 2014

By Martina Horáková and Amy Jordan

Latest journal

Central Banking

Amando Tetangco at Central Bank of the Philippines


The latest issue of the Central Banking journal includes three interviews. Amando Tetangco of the Central Bank of Philippines tells of how the country is well prepared for policy changes but calls for more research to be done. Paul Volcker talks with Robert Pringle about his experiences in deflating inflation, the current financial crisis, QE exit and more. Paul Collier warns how African central banks that are moving towards inflation targeting should not ‘mindlessly follow’ Western policy. Klaus Engelen looks at the resistance ECB President, Mario Draghi, is likely to come up against from Germany’s constitutional court; Isabella Bufacchi and Carlo Marroni discuss the role the Vatican’s ‘central bank’ will have and Eyup Kahveci talks about the Central Bank of Turkey’s pursuit of output-based models. Also discussed in this issue is the impact CCPs and TRs are having on central banks, the ability central banks will have with regards to interest rate futures, Bank of England’s move to introduce substrate banknotes and Jacques de Larosière looks at an international ‘anti-system'.

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