European Central Bank (ECB)
Banque de France ‘significantly’ improves research output
External review of central bank research finds ‘significant rise in quantity and quality’ in past six years; suggests improvements in communication with policy-makers
ECB’s Coeuré shifts focus to the quality of credit
European Central Bank executive board member Benoit Coeuré outlines policy mix needed to channel credit towards productive investment; expects more demand for TLTROs
Ingves outlines Basel Committee response to ‘excessive variation’ in risk-weighted assets
Basel Committee 'endorses' final details of NSFR and turns attention to comparability of risk-based ratios; expands membership to include ECB’s single supervisory mechanism
Portuguese central banker warns new €10 banknote may not be accepted by all vending machines
Bank of Portugal board member says he cannot guarantee the note will be accepted by all machines, as owners are responsible for making necessary software changes
Draghi defends TLTRO allocation of €82.6 billion
ECB president tells Econ Committee last week’s targeted LTRO ‘within the range of take-up values’ he expected; outlines shift to ‘more active’ management of balance sheet
Central Banking poll finds tepid response to EU stress tests
Some 60% of respondents to Central Banking poll say the EU stress tests are ‘not stringent enough’; ECB will release results for eurozone banks along with AQR findings next month
ECB releases rotation schedule for voting governors
New voting rotation system sees Spanish, Irish, Greek and Estonian governors sit out first decision in January; ECB allots €82.6 billion to 255 banks in first targeted LTRO
‘Flower power’ drives new Dominican Republic banknote series
The Dominican Republic is issuing upgraded banknotes to include the country’s new national flower; Israel and eurozone also introducing new notes in the market
Mersch: T2S may prompt ‘more global network for mobilisation of collateral assets'
ECB board member says Target2 offers 'possibilities for linkages' between T2S central securities depositories with those 'from other geographical areas'
Liikanen: 'Unanimous' ECB will expand arsenal if necessary
Bank of Finland governor says a wider range of monetary policy instruments makes open decision-making increasingly important
Robert Pringle’s Viewpoint: A qualified case for Scottish independence
If the Scots vote for independence they will run many risks including a perilous path to create a Scottish currency; but they have the human resources to make a go of it
Shift towards 'commercial' and 'political' central bank communication set to continue
Central banks to continue mimicking commercial and political entities in their communications despite reputational costs; more resources will be dedicated to social media use, says Niels Bünemann
The viability of a commercial approach to central bank communication
Will the prevailing trend for central bank communications to mimic those of commercial entities and political parties stand the test of time?
ECB comprehensive assessment could stem ‘secular stagnation' in eurozone, bank staffers argue
Economists from the ECB and the Bank of Spain make the case in new book on ‘secular stagnation' that also includes contributions from Larry Summers and Paul Krugman
Euro adoption linked to ‘modest’ increase in Estonian inflation
Bank of Estonia economists say the strongest inflationary effects were on food products, six months before the changeover
Draghi sets out national reforms necessary to revive investment
ECB president says inflation will not fully recover until investment increases, which is dependent on national governments pursuing structural reforms
ECB and BoE seek insights into yield curve behaviour
Frankfurt conference aims to improve understanding of the yield curve in the wake of the financial crisis, at a time when European and US yields are diverging
Cœuré explains motivation for negative deposit rates
European Central Bank executive board member says it is ‘not enough’ to lower the main refinancing rate in an environment of excess liquidity
Dutch economists recommend using social media as confidence indicator
ECB paper finds social media sentiment and consumer confidence are ‘highly correlated’ and could be useful in policy-making
ECB to help prepare Central Bank of Montenegro for EU
Co-operation programme aims to help the institution meet regional and international standards; EU will provide €300,000 in funding
Buba's Buch calls for ‘clear-cut inclusion’ of CEE in banking union
Bundesbank vice-president highlights room for improvement in supervisory framework; concerned about integration of banking markets across Europe
ECB appoints supervisory heavyweights to new review board
Governing council appoints five members to board, tasked with conducting reviews into ECB’s supervisory actions, including former central bankers from France, Germany, Italy and Spain
ECB cuts rates and launches asset purchases
Central bank cuts refinance rate to 0.05% and deposit rate to -0.2%; Draghi unveils plans to buy asset-backed securities and covered bonds
Lautenschläger expects SSM to expand beyond eurozone
Supervisory board vice-chair ‘anticipates’ that more countries will join the SSM when it is up and running; ECB has not received any formal applications to date