European Central Bank (ECB)
Eurozone inflation jumps to 0.9% in January
Analysts argue sharp increase was pushed by German tax increase and statistical changes
ECB extends non-eurozone euro swap lines
Credit facilities set up at start of Covid-19 crisis will now run until March 2022, ECB says
Draghi accepts task of leading next Italian government
Former ECB president must first secure enough parliamentary support to become prime minister
EU’s 2021 stress test includes ‘very severe’ adverse scenario
Adverse scenario foresees unemployment rising sharply and massive asset shock
Eurozone banks must not delay action on credit risk – Enria
Supervisor calls on banks to use capital buffers in order to maintain adequate credit levels
Central bankers debate next steps on climate change
Jens Weidmann argues for independent agency to relieve burden on central banks
Cross-border spillovers play key role in ECB’s bond purchases – DNB paper
Cross-border effects play a “dominant role” in PSPP’s effectiveness, say researchers
ECB grants post-Brexit reprieve on large exposures limit
Exemption for intra-group exposures to UK will be preserved pending a decision on equivalence
ECB steps up work on climate change
Central bank launches climate change centre and invests in new BIS green bond fund
ECB reports historically low counterfeit volumes
€20 and €50 remain the most counterfeited, central bank data shows
ECB leaves stimulus unchanged
Lagarde says prompt implementation of EU-wide fiscal stimulus is key to eurozone recovery
Money market estimates vary significantly – Bundesbank paper
Policy-makers should be aware of widely differing research results
Eurozone bank credit tightens despite ECB stimulus
Banks expect credit to further tighten during the first quarter of 2021
Eurozone inflation remains stuck at -0.3%
Year-on-year inflation first fell into negative territory in August 2020
BoE reassures foreign banks on post-Brexit booking models
EU banks that lost passporting rights after Brexit are unlikely to have to establish UK subsidiaries
Eurozone needs major resolution reforms, Enria says
ECB supervisor says policy-makers should create new tools to deal with medium-sized banks
ECB says new data highlights stabilising effect of inflation expectations
Analysts argue that new approach to analysing surveys has “important practical advantages”
People: Rolle gets second governor term at Central Bank of Bahamas
Bahamas governor get second five-year term; new director-general for information systems appointed at ECB; Central Bank of Namibia recruits banking operations head, and more
Macro-prudential policies cut liquidity trap risk – ECB paper
Fall in systematic risk boosts natural interest rate and reduces intensity of liquidity traps, paper finds
Furlough schemes may conceal slack in EU labour market – ECB research
The longer the pandemic continues, the more job reallocation will be needed, authors say
Hernández de Cos encourages banks to use capital buffers
Basel Committee chair says it is “only a matter of time” before losses become apparent
ECB outlines changes to forecasting during Covid
High-frequency data, GDP-at-risk, changes to use of PMI and stringency index all useful, authors say
Tourism acts as Covid-19 amplifier in the eurozone
Shock is increasing fragmentation risks in the region due to its uneven effect across countries
Hernández de Cos says yield curve control ‘worth exploring’
ECB could target differential between OIS curve and riskier sovereign yields