European Central Bank (ECB)
Draghi calls for 'good' form of bank deleveraging
By encouraging creative destruction in the banking sector, the ECB facilitates creative destruction in the wider economy, Draghi tells Vienna crowd
Sovereign credit ratings have asymmetric impact, ECB paper finds
Working paper finds market volatility depends on whether the rating was an upgrade or a downgrade; identifies channels of contagion between countries
Cœuré delineates ‘the good the bad and the ugly’ of deleveraging
ECB executive board member says deleveraging is a double-edged sword and stresses the need for central banks to nudge financial institutions towards ‘good’ deleveraging
ECB technically prepared for negative deposit rates
The ECB has made the IT adjustments necessary to cut its deposit rate below zero, according to Bundesbank’s deputy head of markets, but the policy has its drawbacks
Praet says ECB minutes could spell end for forward guidance
Executive board member Peter Praet says publishing ‘accounts’ of governing council minutes might reduce the need for forward guidance
BoE to create new deputy role amid FX rigging controversy
Bank of England will create new deputy governor post to get a better grasp of financial market dynamics, Mark Carney said in hearing yesterday
ECB sets out second phase of asset quality review
The European Central Bank reveals the methodology of its asset quality review and provides guidance for national authorities tasked with executing the inspection
ECB paper studies imbalances in major eurozone countries
Use of a new multi-country model demonstrates stimulus effects on aggregate demand from changes in interest rates at ECB-level 'are present but not overly large'
Hämäläinen returns to ECB in latest SSM board appointments
Central bank fills three of its four slots for representatives on the SSM’s supervisory board, with former board member Hämäläinen joined by Canadian supervisor Julie Dickson, and the ECB's own Ignazio Angeloni
Banks switch strategies way ahead of new regulation, paper finds
ECB working paper studying a set of Finnish banks finds they anticipated Basel II by up to seven years, shifting their credit portfolios in preparation for the new regulatory environment
ECB holds rates on back of ‘positive’ data
Mario Draghi attributes ECB inaction to improvement in economic data; new staff forecasts show inflation climbing to 1.7% only in the last quarter of 2016
BoE must balance ‘paradox' of more eurozone integration, says Cunliffe
Deputy governor for financial stability says cost of dysfunctional single currency favours ‘inconvenient' eurozone integration
ECB ‘obliged' to introduce OMT to defend price stability, Draghi tells Bundesbank
ECB president Mario Draghi tells a Bundesbank symposium in Frankfurt that OMTs build on the doctrine adhered to by the German central bank for several decades
FX Invest Europe: Deutsche Bundesbank official praises Fed’s QE exit strategy
Christine Glockmann says other central bankers may copy Fed’s communication over QE tapering; says eurozone economic policy suffers from member states 'bickering'
Mersch cautiously optimistic on RMB internationalisation
Renminbi internationalisation could bring benefits both to China and outsiders, ECB board member says, if Chinese reforms continue and investors take care
Europe card fraud up after five-year decline, ECB data show
Growth in online shopping blamed for increase in card payments fraud, which totalled €1.33 billion within the Single Euro Payments Area in 2012 - up 21% on the previous year
People: Bank of Spain bolsters supervisory staff; ECB advertises two more SSM posts
Bank of Spain fills two supervisory roles with internal promotions; ECB looks to hire two more deputy directors-general for SSM
Robert Pringle's Viewpoint: The eurozone’s unfinished business
Economic adjustment and financial sector reform must go hand in hand – with the ECB due to play a central role
ECB paper tests resilience of Polish economy to interest rate shocks
Researchers find that output and prices in Poland have become more resilient to both interest rate and exchange rate shocks over the past two decades
ECB's Praet defends ‘innovative' OMTs
Redenomination risk premia, as faced by the ECB in the eurozone crisis, was a new challenge for central banks that needed a new solution: outright monetary transactions
Noyer paints picture of ‘European Federal Reserve System’
Banque de France governor sets out vision of the ECB operating in a similar style to the Fed – with France taking the place of New York
Cœuré defends Troika to European Parliament
ECB’s top negotiator with European Parliament defends the adjustment programmes shaped by the Troika and tells politicians not to ‘blame the fire brigade for the fire damage’
Banking union can create sustainable financial integration in eurozone, Draghi says
Speaking at the 20th anniversary of the establishment of the European Monetary Institute, the forerunner to the ECB, Mario Draghi says banking union can strengthen financial integration
ECB monetary policy is feeding through to real economy, says Mersch
Executive board member also underscores importance of cleaning up banks' balance sheets and 'encouraging alternative funding sources', as low interest rates 'cannot raise growth on a structural basis'