European Central Bank (ECB)
Financial markets still fragmented, say ECB and Commission
European Central Bank and European Commission find the eurozone is more economically and financially fragmented now than it was before the crisis
ECB publishes final SSM framework
European Central Bank finalises framework for Single Supervisory Mechanism; sets out relationship with national competent authorities and criteria for determining significance of banks
Constancio hails Banking Union's ‘remarkable sharing of sovereignty'
ECB vice-president Vitor Constancio says Banking Union with no common recapitalisation tool requires EU's biggest economies to surrender their advantage
Draghi comes out in favour of ECB minutes
ECB president Mario Draghi says publishing a ‘more complete account’ of monetary policy deliberations would ‘strengthen’ decision-making process
Draghi maps out ECB reaction function
Mario Draghi reveals the different circumstances under which the ECB would use each of the monetary policy instruments at its disposal
ECB launches programme to prepare Balkan central banks for EU
Macedonian, Albanian, and Kosovar central banks will benefit from a €500,000 programme and EU expertise to help them prepare to one day join the Eurosystem
Buba's Dombret says ECB agrees there are limited risks of deflation
Low inflation in the eurozone should not become deflation, Andreas Dombret says in a speech at the Dallas Fed, as current low inflation reflects unique factors
European Parliament adopts banking rules
Parliament approves the single resolution mechanism and adopts rulebook on bank recovery and resolution; MEP Sven Giegold warns banking union is ‘not yet complete’
Bank of England and ECB in joint call to put ABS back in play
European Central Bank and Bank of England promise more thorough treatment of how to reverse asset-backed securities market decline - which could allow ECB to undertake QE
Praet invokes Minsky to show importance of banking union
Europe's economies cannot converge by allowing 'catch-up' countries to ride a financial cycle upswing - as what goes up must come down, ECB chief economist tells conference
Weidmann would consider 'outsourcing’ SSM from ECB
Jens Weidmann tells Klaas Knot the ECB should consider ‘outsourcing’ the single supervisory mechanism once it is established
ECB says forward guidance a success
European Central bank annual report for 2013 finds forward guidance helped to stabilise money market conditions and anchor market expectations
Yves Mersch urges ABS regulation rethink
European Central Bank executive board member calls for global framework that distinguishes between securitisation instruments of different qualities
ECB paper tackles liquidity ‘free-rider’ problem
Working paper highlights ‘excessive liquidation’ caused by financial intermediaries free-riding on other firms’ liquidity holdings, but says macro-prudential policy can create ‘constrained efficiency’
Draghi opens door to QE as ECB holds
European Central Bank president Mario Draghi says governing council discussed asset purchases in latest meeting; votes to hold rate despite more disinflation
ECB’s Cœuré warns CCPs could become ‘too big to fail’
Benoît Cœuré says the systemic effects of central clearing are ‘undoubtedly positive’ on aggregate, but raises concerns over the concentration of risk in a few large global CCPs
ECB paper finds US resolution authority has not solved too-big-to-fail problem
Research uses creation of US Orderly Liquidation Authority as ‘quasi-natural experiment’, finding many banks are disciplined but the largest still do not believe the threat to be credible
Eurozone policy was ‘backward' in the financial crisis, says Draghi
The policy measures brought in by the ECB and other eurozone authorities in 2010–11 were right in isolation but introduced in the wrong sequence, Mario Draghi has said
Parliament eyes Riksbank's off-mark inflation forecasts
Report on Swedish central bank's performance in 2013 shows its inflation forecasts were off the mark; flawed forecasts have forced several central banks to upend policies in the past months
ECB flags pitfalls for new Estonian supervisory law
Legal opinion on draft law praises intentions but warns of a number of risks, including the potential to undermine the central bank’s independence
Troika warns Greek capital buffers may be insufficient
Troika's warning of ‘upside risks' if Greek banks are not ‘swiftly' recapitalised contrasts with optimistic statement put out by Bank of Greece on March 6
Europe's banking union gets single resolution mechanism
Compromise deal is reached over single resolution mechanism, which will have a fully mutualised resolution fund within eight years
ECB paper sees merits in fiscal activism at ZLB
Research calls for a policy-maker who cares more about stabilising inflation, relative to government spending, than the private sector when nominal interest rates are at zero lower bound
ECB reveals plans for supervisory board minutes
Danièle Nouy says the supervisory board will submit a record of proceedings to the European Parliament on a quarterly basis