European Central Bank (ECB)
Target 2 experiences three-hour outage
Target 2 payments system down for three hours on Monday morning; European Central Bank says source of interruption is as yet unexplained
ABS markets influential on composition of international debt markets: ECB report
European Central Bank study on asset-backed securities markets provides valuable insight into the currency composition of international debt markets
Fitch sees default ahead for Greece
Rating agency says Greece will default on its debt after European heads of state agree on €109 billion bailout plan for Greece with private sector involvement and more scope for EFSF assistance
ECB paper on changing trend of capital inflows
European Central Bank study shows capital inflows globally have been driven by a variation of pull and push factors since the crisis
Euro area leaders face tough choices over Greece
Crucial euro area summit to address funding of second Greece bailout to be held; terms for private sector involvement on agenda
Inflation expectations in euro area broadly stable: BIS paper
Bank for International Settlements study says long-term euro area inflation expectations have so far remained well-anchored during sovereign crisis
Response to fiscal policy shocks can impact debt expectations: ECB paper
European Central Bank study says fiscal shocks not accompanied by an expected spending reversal increases debt burden and reduces economic activity
ECB paper highlights differences in EU real wage flexibility
European Central Bank study shows real wages are more flexible in Central and Eastern European economies than euro area countries
ECB “sidelined” in sovereign crisis debate, says analyst
Eurogroup lays out plans to provide bail-out fund with greater flexibility to address sovereign risks; analyst says message sends signal European Central Bank is being “sidelined” in discussion
ECB and World Bank call for exemptions from US derivatives rules
World Bank believes imposition of national regulations on multilateral development institutions is unprecedented intrusion on the internal operations of international organisations
Basel and Dodd-Frank create arbitrage potential, say analysts
Removal of credit ratings under Dodd-Frank will create arbitrage opportunities – and is already being exploited by some US banks, research claims
Weber gains clearance to join UBS
Eurozone and German central bank give former Bundesbank president Axel Weber green light to join UBS in May
European debt concerns spark bond market sell off
European bond markets tumble amid growing concerns over Italy’s ability to tackle its fiscal deficit; uncertainty over Greek rollover adds to market uncertainty
Euro area needs better coordinated political union: ECB’s Bini Smaghi
European Central Bank executive board member Lorenzo Bini Smaghi calls for more active participation by euro area governments in political union
T2S framework agreement delayed due to four remaining issues
There are four remaining issues that are delaying the forthcoming Target-2 Securities (T2S) framework agreement, according to an industry leader from the European Central Bank (ECB).
ECB rate hike highlights continued divergence with BoE
European Central Bank raises interest rates by 25 basis points as Bank of England holds for 28th month in a row; more expected from Frankfurt in 2011
Fed extends temporary dollar swap lines again
Canada, UK, Switzerland and ECB prolong arrangements; Japan to decide soon
ECB lifts lid on shadow-banking activities
New statistics based on broad data collections will improve euro area reporting for financial institutions that fall outside traditional monitoring frameworks
ECB paper on exchange rate misalignments
European Central Bank study identifies methods to improve policymaking under exchange rate imbalances and fluctuations in capital flows
Draghi appointed ECB president
European Council approves appointment of Bank of Italy governor Mario Draghi as next president of the European Central Bank
Crisis raises risk of creditless recovery: ECB paper
European Central Bank study shows creditless recoveries are more frequent after a banking or currency crisis
Draghi's fate in European Council’s hands
European Council set to decide on nomination of Mario Draghi for ECB presidency; Lorenzo Bini Smaghi yet to announce decision regarding position on executive board
Euro finance ministers delay Greece deal
Eurogroup says second tranche for Greece will be delayed until at least early July as European finance ministers flesh out new deal for sovereign
Trichet says euro is ‘stable and credible’
Trichet offers reassurance on credibility of the euro; says global imbalances are a concern, but euro area does not contribute to them