European Central Bank (ECB)
ECB offers CSDs financial incentives for early T2S adoption
European Central Bank offers central securities depositories (CSDs) financial incentives to sign up to T2S early; governing council gives CSDs until the end of April to agree
National Bank of Hungary takes swipe at government
Central bank rejects cabinet selection of official to attend meetings on foreign currency loan problems in Hungary; sign of continued poor relationship
Commission unveils contentious Eurobond proposals
European Commission unveils three options for Eurobonds in bid to restore stability in Europe; analysts say the measures are politically unviable and ineffective
Draghi exasperated with eurozone leaders over EFSF
European Central Bank president Mario Draghi expresses frustration at delays from member states to issue new powers to eurozone rescue fund
Bank relationships diminish risk of default: ECB paper
European Central Bank study shows building a relationship with a bank reduces the risk of customers defaulting on their loans
Emerging market central banks lead gold rush
World Gold Council Global Demand Trends report shows central banks were net buyers of gold in third quarter of 2011, led by Russia, Bolivia and Thailand
Insurers and pension funds may retreat from long-term investments, says Praet
European Central Bank executive board member Peter Praet says new regulatory initiatives and low-yield environment is limiting scope for long-term investments
Lender of last resort not an option for ECB, say analysts
A financial backstop is needed to address the eurozone crisis, analysts say, but full lender of last resort status for the European Central Bank remains politically unpalatable
Monetary policy and financial stability intrinsically linked: ECB’s Praet
European Central Bank executive board member Peter Praet, says central banks must lean against, rather than clean-up, imbalances under new financial stability paradigm
Lorenzo Bini Smaghi to leave the ECB
Lorenzo Bini Smaghi will join Harvard University’s Center for International Affairs in January; ends term at ECB more than a year early
Stark demands financial sector refocus
European Central Bank executive board member Jürgen Stark says financial sector became too “self-referential” in recent decades and must refocus activities on banking services
Italy reaches crisis point as bond yields soar
Announcement that Italian prime minister Silvio Berlusconi will resign does little to calm markets; bond yields hit euro area record high, raising the stakes for a potential default
Undercapitalisation of banks raised financial distress during crisis: ECB paper
European Central Bank study shows that size, capitalisation of banks and degree of credit expansion contributed to stress in banking sector during the crisis
Papademos flies to Athens as Greece decides on new leader
Former European Central Bank vice-president Lucas Papademos rushes to Athens as Greek officials discuss leadership choice for new coalition government
ECB’s González-Páramo calls for more stringent EU fiscal policy
European Central Bank executive board member José Manuel González-Páramo urges eurozone governments to conduct fiscal policy with clear medium-term objectives
IMF to supervise Italy on debt reduction plan
Italian prime minister Silvio Berlusconi agrees to invite International Monetary Fund to Rome to oversee its fiscal consolidation efforts but turns down option for financial support
Draghi announces rate cut amid fears of mild recession
European Central Bank president Mario Draghi marks inaugural Governing Council press conference with 25 basis point rate cut; ECB reveals details of covered bond scheme
Religion and culture influence economic preferences: ECB paper
European Central Bank attempts to address long-standing debate between sociologists Karl Marx and Max Weber on causal effect between religion and the economy
Central bank communication crucial to formation of market expectations: ECB paper
European Central Bank paper shows effective use of communication on policy choices has important impact on market expectations
Trichet says China funding request is right thing to do
Outgoing ECB president denies it is embarrassing or humbling for Europe to have to ask other countries for financial support; insists it is "absolutely normal" in today’s global world
ECB paper highlights renminbi’s prominence in Asia
European Central Bank study says China’s growing dominance in Asia is key driver of currency movements in region
Stark to remain on ECB executive board until January
Jürgen Stark agrees to stay on at the European Central Bank until Jörg Asmussen’s term begins in January 2012
Visco confirmed as Bank of Italy governor
Bank of Italy’s Ignazio Visco promoted to governor following confirmation by Italian president Giorgio Napolitano
Draghi open to further bond purchases
Bank of Italy governor Mario Draghi says tools for immediate implementation of unconventional measures are necessary for crisis management