Deutsche Bundesbank
Weidmann to testify quarterly in parliament to explain ECB policy
Measure follows constitutional court ruling requiring ECB to demonstrate proportionality of government bond purchases
Macro-pru policies can worsen fiscal crises – Bundesbank paper
Macro-prudential authorities must be aware of their “fiscal footprint”, researcher argues
Bundesbank paper looks at effective lower bound
Modellers can use survey information to reduce impact of ELB on yield decompositions, author says
ECB expected to sharply increase PEPP purchases
Central bank could start reinvesting PEPP securities and increase supranationals’ share
The ECB, the lockdown and the monetary financing lock
Eurozone’s central bank may need to break its prohibition on monetary financing to fight pandemic
German banks’ capital levels affect loan supply – Bundesbank paper
Authors find balance sheet data shows loan supply has positive elasticity to capital levels
German court leaves Bundesbank caught between two legal decisions
Ruling may hamper ECB’s new PEPP programme as it is not constrained by PSPP limits
German court rules ECB must provide more evidence on PSPP
Judges strongly criticise ECJ’s ruling on QE programme, but stop short of declaring it unlawful
Individual German banks at risk from interbank shocks, paper finds
Bundesbank paper presents simulation method for analysing interbank markets
Amplifying the soundwaves: the evolution of social media communications
Central bank social media usage is on the rise, with choice of platform is shifting towards the visual
IMF programmes must not get too large – Bundesbank paper
Preferred creditor status can lead to large-scale IMF operations crowding out private investors
Economists must study ‘certainty shocks’ – Bundesbank paper
Policy-makers must distinguish between shocks which raise or lower certainty, researcher says
Weak eurozone banks hindered monetary policy – Bundesbank paper
“High-risk” banks failed to increase loan spreads despite ECB liquidity injection, researchers say
German house prices rise by slowest rate since 2014 – Bundesbank
Housing prices continue to rise but at slower rate, especially in major cities
Central Banking Awards 2020: the winners
All the winners in the 2020 Central Banking Awards
ECB monetary policy was weakened by regulation – Bundesbank paper
Tighter regulation reduced lending by weakly-capitalised banks from 2008 to 2018 – researchers
Central Banking Awards 2020: final winners announced
Awards include lifetime achievement, transparency, communications and website
Lifetime achievement award: Otmar Issing
Architect of euro’s framework still playing important role in shaping debate on monetary policy
ECB officials lay out positions on future inflation target
Weidmann and de Cos set priorities as strategy review focuses on inflation measurement and target
Green initiative: Network for Greening the Financial System
Voluntary body is driving efforts to tackle climate-related risks
ECB reallocates subscribed capital after Brexit
Eurozone central banks will increase their total paid-up capital by €1.2 billion over the next two years
Book notes: The long journey of central bank communication, by Otmar Issing
This book is a “masterly exposition on central bank communication, its evolution and continuing challenges”
ECB largely welcomes move to expand German macro-pru powers
ECB says measures giving BaFin greater powers are “appropriate”, but need better data
CBDC has been “over-hyped” – former RBI deputy
Focus on retail CBDCs is a potential distraction from core central banking functions, says Sinha