European Central Bank (ECB)
Cebs unveils details of EU stress tests
Committee of European Banking Supervisors names 91 banks that will be subject to stress tests; vague on methodology
ECB bond purchase effect wearing off, warns IMF
Fund cautions that stability risks are on the rise again as effect of European Central Bank’s foray into bond markets loses bite; southern eurozone to face refinancing contest with US, UK and Japan
Azerbaijan to move to DSGE model
National Bank of Azerbaijan will switch to consolidated DSGE framework by year-end; deputy research director says model valued for overall coherence and ability to factor in irrational behaviour
ECB attacks Bucharest over central bank pay cuts
European Central Bank criticises Romania’s decision to impose wage cuts on central bankers after its government failed to consult Frankfurt
ECB handled Greek crisis well: CentralBanking.com readers
CentralBanking.com poll shows more than 40% approval rating for European Central Bank’s handling of the Greek debt crisis
ECB’s Tumpel-Gugerell: towards a safer financial system
European Central Bank executive board member discusses key elements of new approach to safeguarding stability
Klaus Regling to head euro bailout vehicle
German economist and former director general Klaus Regling to head European Financial Stability Facility set up to bail out troubled eurozone states
EXCLUSIVE: Pick and choose from social media tools: BIS’s Laurmaa
Bank for International Settlements’ head of web publishing Timo Laurmaa says Twitter more beneficial to profit-making companies; short releases help when reaching out to wider-than-usual audience
Relationship between government and markets must change: Padoa-Schioppa
Former executive board member at the European Central Bank Tommaso Padoa-Schioppa says successful exit from the crisis will require a shift in the market-government nexus
Norges Bank takes reputation poll
Norwegian central bank publishes outcome of its first ever reputation survey; poll finds central bank is doing well in public eyes, but could be more open
ECB meet signals Gulf’s common currency intent despite euro woes
Governors of Saudi Arabian Monetary Agency, the Central Bank of Kuwait and Qatar Central Bank to meet with Jean-Claude Trichet and Mario Draghi next week to discuss how best to adopt a single currency
Trichet: European Union needs to adopt sanctions to curb spending
ECB president Jean-Claude Trichet proposes sanctions against countries that overspend in order to fulfill obligations of new crisis management institution under review
ECB's Bini Smaghi says executive pay inefficient
European Central Bank executive board member Lorenzo Bini Smaghi says executive salaries don't reflect performance, calling for broader international solution
CentralBanking.com panel: ECB’s response to Greek crisis too slow
Mike Williams, Paul Mortimer-Lee, and Phil Davis say the ECB should have moved more swiftly to tackle the fiscal problems in Greece
Spanish banks’ reliance on ECB hits record levels
Data published by Spain’s central bank shows the country’s banks exhibiting an increasing level of dependence on the eurosystem, officials dismiss talk of bailout
Bank’s Posen stoutly defends ECB bond purchases
Bank of England rate-setter Adam Posen slams critics who claim bond purchases will impinge upon central bank’s independence; says given low interest rates, bond purchases are essential monetary policy tool
US must clarify degree of Basel III implementation: Bini Smaghi
ECB executive board member Lorenzo Bini Smaghi says US needs to clarify its implementation of Basel III proposals
Carlos Costa replaces Constâncio at head of Bank of Portugal
Former EIB vice president Carlos Costa is sworn in as governor after Vitor Constâncio takes ECB deputy spot
Market tensions prevail, Trichet warns
ECB president says financial sector still shows signs of stress despite the success of the central bank’s bond purchase program
Eurozone seals deal on bailout fund
European finance ministers come to agreement on bond guarantee facility to support continent’s crisis-hit countries; bond markets reassured by move
Canada’s Carney praises ‘decisive’ ECB step
Bank of Canada governor Mark Carney lends support to European Central Bank’s disputed bond purchase programme; says fiscal, not monetary exit will be tricky
Sepa Council members meet for first time
Industry and central bank leaders meet to discuss end dates for migration and future of Sepa for cards at first official council meeting
Financial Stability Review – ECB
European Central Bank says bond purchase programme cut tail and contagion risk but eurozone governments have a sizable task ahead of them
Fed scoops prize for best swap lines: BIS
Bill Allen and Richhild Moessner study the effects of central banks’ swap lines and find those established by the Federal Reserve to provide dollar liquidity went furthest in achieving their aims