European Central Bank (ECB)
Eurozone AQR adds to Swedish uncertainty, says Ingves
Riksbank governor says conditions for monetary policy are ‘perhaps even more uncertain than usual' due to confluence of international and domestic factors
Eurozone shadow banks increase share of assets to 33%
Shadow-banking entities now own a third of the €57 trillion worth of assets in the eurozone financial system according to ECB report; expansion has ‘gathered pace’ since 2012
European Court of Justice hears case against OMTs
European Central Bank’s programme for buying sovereign debt to be considered by Europe's top court; ruling could have implications for monetary policy
Central banks respond to ECB and BoE paper on ABS
Sveriges Riksbank and Reserve Bank of Australia raise concerns over proposals in discussion paper, while Central Bank of Hungary adopts a more positive tone
ECB to release assessment results on October 26
European Central Bank will publish results from asset quality review and stress tests later this month; Draghi says ‘further efforts will be needed’ from some banks
Lars Rhode ‘firmly convinced’ by merits of banking union
The National Bank of Denmark wants to join the banking union, while the government is still assessing the consequences; Danske Bank chief economist supports wait-and-see approach
Draghi distinguishes ECB forward guidance from Fed and BoE variants
ECB president compares forward guidance across major central banks; channels John Maynard Keynes and warns that ‘without reform, there can be no recovery’
Netherlands Bank flags risk from ECB asset purchases
Markets are positive about the ECB's efforts to ease monetary policy, but unconventional measures carry the risk of pumping up asset bubbles, Dutch financial stability review warns
ECB reveals details of asset purchases
Mario Draghi would not be drawn on the size of the asset and bond programmes, but said the ‘potential universe of purchases is up to €1 trillion’
National Bank of Denmark narrows range of collateral it accepts
Financial market ‘normalisation' provides ‘opportunity' to omit assets made eligible after crisis to keep Danish banks from borrowing in euros
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