European Central Bank (ECB)
Trichet highlights advanced economy failures
European Central Bank president Jean-Claude Trichet says crisis highlighted weaknesses in strategies of advanced economies; stands firm on Greece action shortly before S&P downgrades sovereign
ECB’s Stark warns of low interest rate curse
European Central Bank executive board member Jürgen Stark says central banks should avoid looking at short-term consequences of monetary policy
Better euro area financial stability governance ‘necessary’: ECB’s Constâncio
European Central Bank vice-president, Vítor Constâncio calls for policymakers to alter their conception of the governance of financial stability in the euro area; wants to see region-wide oversight
ECB study measures impact of corridor width on monetary policy
European Central Bank paper shows width of standing facility corridor has significant impact on volatility of short-term interest rate
BoE, ECB hold their fire
Bank of England and European Central Bank leave rates unchanged; Trichet speech hints at impending hike
ECB backs Draghi to head central bank
European Central Bank governing council supports nomination of Bank of Italy governor Mario Draghi to head eurozone central bank
Germany’s Schäuble calls for bond swap on Greek debt
Trichet has some sympathy in Vienna Initiative-style arrangement for Greece; German finance minister calls on ECB to go one step further with swap deal
Sweden’s Öberg calls for Riksbank to merge with regulator
Riksbank first deputy governor Svante Öberg says merging central bank with Finansinspektionen will aid task of safeguarding financial system
Private sector involvement in Greece may be harmful: ECB’s Bini Smaghi
European Central Bank executive board member Lorenzo Bini Smaghi says private sector involvement is fraught with complications
ECB opens Brussels office
European Central Bank opens small Brussels office; staffed by only two people
González-Páramo calls for greater transparency of rating agencies
European Central Bank executive board member José Manuel González-Páramo says regulators must ensure greater disclosure of rating agency processes
ECB conference reviews crisis measures
European Central Bank Sixth ECB Central Banking Conference contributions highlight policy approach during financial crisis
Greece agrees new package
Authorities strike deal over Greece; extensive privatisation programme to commence shortly
Trichet demands greater powers
European Central Bank president Jean-Claude Trichet says greater authority over national economic policies should be entrusted with euro area institutions
Bankers underestimate need to recapitalise: ECB paper
European Central Bank study shows bankers’ incentive to recapitalise during periods of crisis are undermined by negative externalities
Draghi faces large pay cut
Bank of Italy governor Mario Draghi’s pay would more than halve as next European Central Bank president
Talk of restructuring worsened turmoil: Bini Smaghi
ECB executive board member blames inability of securities market programme to curb investor fears on renewed talk of restructuring; tells Central Banking Greece should have sought help sooner
Argentina’s Blejer likens Greece bailout to ponzi scheme
Former Central Bank of Argentina president Mario Blejer compares Greece bailout to ponzi scheme; analyst expects restructuring of debt to be delayed until 2013
Bini Smaghi: Greece not our responsibility if it defaults
Executive board member tells Central Banking Greece's fate is in its hands; reprofiling dismissed on grounds that it would have "all implications" of a default
Central banks in 'uncharted waters', Lamfalussy tells ACI Congress
Former BIS chief recognises challenges facing central banks, but praises the ECB for its performance during the financial crisis
ECB’s González-Páramo paints picture of post-crisis policy framework
European Central Bank executive board member José Manuel González-Páramo outlines new elements of the post-crisis financial system norms
OECD calls for Fed and BoE to hike rates
OECD says close-to-zero policy rates in advanced countries are no longer needed; urges Federal Reserve and Bank of England to start raising rates
RBA should cede control over senior pay, says Australian lawmaker
Australian senator Bob Brown calls for senior pay at Reserve Bank of Australia to be independently set by external panel; governor Glenn Stevens could see pay package cut
ECB’s Bini Smaghi warns of maturity mismatch from low interest rate environment
European Central Bank executive board member Lorenzo Bini Smaghi says low short-term interest rates risk are leading to over-leveraging in shadow banking