European Central Bank (ECB)
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
ECB paper finds the Fed ‘well-served’ by its stress index
Researchers from ECB and Fed examine whether the economy behaves differently during periods of high stress, and the implications this has for policy-makers' models
Cœuré calls for greater integration in retail banking and capital markets
The financial crisis ‘undermined this process’ and pushed retail banking services within national borders, says executive board member of the ECB
Counter-cyclical liquidity hoarding could ‘strongly amplify' business cycles, according to ECB paper
Paper develops a ‘new balance sheet channel of shock transmission' that works through the composition of banks' asset portfolios
ECB hires BlackRock to design ABS programme
BlackRock will advise on design and implementation of an ABS purchase programme, which the ECB could announce next week; Benoît Coeuré outlines Europe’s ‘fundamental choice’
ECB prize winners size up shadow banking
Working paper published by the ECB considers how regulatory arbitrage and the shadow banking sector can undermine commercial bank safety nets
Draghi encourages ‘greater role’ for fiscal policy
ECB president says a policy mix of monetary, fiscal and structural measures is necessary to keep the eurozone recovery on track, in his remarks at Jackson Hole
ECB faces ‘significant’ decline in inflation expectations
Mario Draghi raises prospect of ECB action in the face of a ‘significant decline’ in medium and long-term inflation expectations in the eurozone
ECB designates four 'systemic' payments systems subject to new regulatory standards
European Central Bank identifies four payment systems as systemically important, which will now be governed by stricter oversight standards that entered into force last week
ECB economists design early-warning guide to trigger macro-prudential intervention
Working paper isolates key indicators to tell policy-makers when to use macro-prudential measures, and which ones to use
Cœuré sees cyber threats and virtual currencies rising on payments agenda
Chair of the CPSS suggests the organisation should look beyond securities and derivatives markets in the 25th anniversary edition of Central Banking journal
End of Bretton Woods has helped dollar reserves, says ECB paper
The collapse of the Bretton Woods System has resulted in significant upheaval of currency reserve trends, says an ECB working paper co-authored by Barry Eichengreen
Central banks need significant discretion to make swap lines work, says ECB
The pricing, size and maturity of standing currency swap lines when activated need to be left to central bank discretion, ECB says in latest Monthly Bulletin; language is 'intentionally unspecific’
Paper examines optimal monetary policy for wages and hours worked
Firms tend to pay too little for too many hours, economists argue in ECB-published paper; monetary policy should not target inflation too strictly, they say
Hungarian ruling party condemns ECB ‘pressure' on behalf of foreign banks
ECB concerned that new rules requiring banks to compensate Hungarian borrowers over foreign exchange loans could hit parent banks and threaten European financial stability