European Central Bank (ECB)
Publishing minutes is vital for central bank comms, say markets
Market participant survey gives Fed highest score for policy and communication in the wake of the financial crisis; ECB scores worse in the absence of published minutes
Draghi highlights win-win productivity gains in Berlin speech
While cost adjustments increase competitiveness only relatively, productivity gains, by increasing trend growth, can be absolute and benefit all countries, ECB president tells conference audience
A turning point for Greece and the euro
The seeds of Greece’s financial crisis are also present in many other modern democracies, writes Herbert Grubel. Currency union offers a politically expedient way to prevent such crises
Finance ministers set to tackle bank resolution at Ecofin conference
Key policy-makers will gather in Lithuania Friday and Saturday to discuss European Commission's controversial proposal on resolution mechanism for failing banks
ECB calls for action as ABS market reaches ‘crossroads’
European Central Bank’s monthly bulletin calls on other institutions to help kick-start the market; suggests ABS transactions could be guaranteed in an attempt to boost SME lending
ECB reaches agreement with European Parliament over SSM minutes
European Central Bank will be required to submit a 'comprehensive and meaningful record of proceedings' of supervisory board meetings to the European Parliament - but not minutes in their entirety
Slovenian economy assailed by austerity and money markets
According to central bank's 2012 annual report, inflation and credit costs increased as consumption, bank lending and the current account deficit fell
European Parliament postpones vote on SSM
Lawmakers want the European Central Bank to provide detailed minutes on banking supervision meetings; issue could delay parliament approval of SSM
Asmussen: Eurozone governors should ‘withstand' pressure of public minutes
ECB executive board member Jörg Asmussen says eurozone central bank governors should be able to withstand the pressure of having their deliberations and voting made public
ECB pushes banks on ABS reporting
European Central Bank raises the reporting bar for banks looking to use securities backed by SME loans as collateral; sets October deadline for more detailed disclosure
Mersch backs close relationship between monetary and macro-prudential policies
ECB executive board member says policies should take one another into consideration and exploit informational synergies; LSE academics concerned by politicisation of macro-prudential frameworks
Bank of Italy's Visco calls for full-fledged political union
Beyond banking union, the scope of a common eurozone budget - as well as the timeframe for its implementation - must be defined, says governor of Europe's fourth-largest economy
G-20 leaders vow co-operation to avoid monetary policy spillover
St Petersburg summit sees IMF concede advanced economies are now the major engines of global growth; European banking union is a top priority in the G-20's joint ‘action plan'
ECB holds rates as Draghi is ‘caught between doves and hawks'
ECB sticks to forward guidance as eurozone recovery deemed too 'green' to warrant a tightening of policy; announcement is imminent on the single supervisory mechanism
Financial crisis caused significant shift in the euro area Beveridge curve
ECB paper finds that labour market consequences of the crisis have been heterogeneous across countries, with Spain and Germany diverging the most
ECB's Cœuré defends OMTs in Berlin speech
Executive board member tells German audience that OMTs do not remove the incentive from governments to reform, and says risk transfer within the monetary union is unavoidable anyway
German voters want to keep the euro - but not to save it, poll finds
Two-thirds do not believe the next chancellor has mandate to support eurozone countries financially after the September 22 elections; a third supports break up of eurozone and return to deutschmark
ECB's Mersch calls for clearer separation of powers in bank resolution framework
European Central Bank executive board member believes current agreement in Europe on a resolution framework - 'decentralisation plus discretion' - is 'the wrong combination'
ECB looks to double the number of women in senior positions through quota
The bank is launching a ‘gender diversity action plan' to ensure 35% of mid-level management positions and 28% of senior positions are held by women by the end of the decade
Forward guidance successful in mitigating downside risks to price stability
Provision of time-based forward guidance reduces downside price stability risks but may result in upside risks during the medium term, finds ECB working paper
ECB research highlights Greenspan’s powers of persuasion
Researchers say Alan Greenspan was a ‘dominant’ chairman of the FOMC who frequently managed to convince regional Fed presidents to walk his own policy line
ECB paper finds capital controls can increase stock price volatility
Research paper finds that a tax on capital inflows can stabilise currency markets, but amplify shocks in single-country stock markets
Sector-specific variables more relevant than thought in determining default risk
The effect and magnitude of risk drivers across sectors is highly heterogeneous, which should be taken into account when designing stress-testing analytical tools, research paper argues
Fall in equities most significant global impact of euro crisis, says ECB paper
Working paper measures impact of euro debt crisis on global financial markets; says the transmission ‘hinges more on trade than on finance’