European Central Bank (ECB)
People: New York Fed appoints new Soma manager
Fed names new FOMC secretary; ECB IT head is leaving; new COO at Irish central bank
ECB flags ‘persistent concerns’ over bank governance
Supervisors perform first assessment of “excessive leverage” and demand action from four banks
Text analysis of news spots Chinese financial risk, says paper
Researchers’ model uses machine learning to assess thousands of newspaper articles
ECB estimates trillions of euros at risk from climate change
Central bank publishes sustainable finance, carbon emissions and physical risk indicators
Monetary tightening has ‘rapid’ effect on spending – BIS paper
Study finds conventional policy tools have bigger impact on consumption than unconventional ones
Regulators should treat crypto trading as gambling – Panetta
Self-destruction of crypto sector is not assured, says ECB official
Missed inflation target has ‘sizeable’ fiscal impact – paper
Persistent undershooting by ECB caused problems for countries with long-duration debt, authors say
Italian prime minister says ECB policies are ‘making things worse’
Government ministers warn of difficulties for Italian sovereign bonds
The behind-the-scenes effort to convert Ukrainian refugee cash
How central and commercial banks worked to allow Ukrainians to exchange cash in wartime
Eurozone citizens still use cash in majority of transactions
Cash use declines since 2019, but still makes up almost 60% of transactions
ECB adjusts risk controls with eye on collateral availability
First assessment of climate risk in collateral framework concludes no climate-related changes needed
European rates: Norway expects more tightening next year
Switzerland raises rates 50bp and Denmark raises rates in line with ECB
ECB adopts new ethics rules on trading
New rules ban holding of individual equities, similar to Fed reforms
ECB increases rates by 50bp
Central bank will scale back APP reinvestments as Eurosystem staff raise inflation forecast
ECB paper examines effects of real rates on banks’ fragility
Level of real interest rates determines whether price or scale effects predominates, researchers find
Italy to allow larger cash payments despite central bank objections
Official warns move could encourage illicit activity
Housing plays growing role in transmitting ECB policy, paper finds
Labour earnings still most important means of transmission, researchers say
The ECB’s collateral conundrum
A lack of high-quality collateral in the eurozone has resulted in money market rates lagging ECB policy rates, hampering monetary policy transmission
Banknotes: October to December 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Eurozone inflation falls for first time in 17 months, estimates say
Eurostat figures show inflation dropping in most countries, including Germany
Knot and Schnabel strike hawkish tone on ECB policy
Portuguese governor calls for an end to 75bp hikes; Lagarde says inflation may still rise