European Central Bank (ECB)
ECB monetary policy was weakened by regulation – Bundesbank paper
Tighter regulation reduced lending by weakly-capitalised banks from 2008 to 2018 – researchers
ECB officials lay out positions on future inflation target
Weidmann and de Cos set priorities as strategy review focuses on inflation measurement and target
Eurozone banks increase illiquid assets after solvency shocks – DNB paper
Shift in asset holdings could create asset price distortions after banking crises, researchers say
Sharon Donnery stresses international co-operation role in financial stability
Irish deputy governor explains macro-prudential measures implemented since global financial crisis
ESRB models long-lasting EU recession for stress tests
Tougher adverse scenario adopted because EU is “at an advanced stage of the financial cycle”
De Guindos stresses uncertainty from coronavirus outbreak
Powell and Carney said Fed and BoE are closely monitoring the virus’s impact on the economy
Central Banking Awards 2020: first winners announced
Prizes include central bank of the year, risk manager, payments and FMI, and treasury systems
Payments and market infrastructure development: European Central Bank
The ECB has created a framework to help payments and market infrastructure firms bolster cyber defence that is being disseminated on a global scale
ECB reallocates subscribed capital after Brexit
Eurozone central banks will increase their total paid-up capital by €1.2 billion over the next two years
ECB reveals large banks’ individual capital requirements
Enria warns banks to improve profitability, saying “challenging environment” will not change soon
ECB’s Mersch warns of negative side-effects of ultra-loose policies
Policies may be contributing to risk-taking, high asset-price inflation and inequality, board member says
Lagarde promises wide-ranging review as ECB holds rates
ECB’s monetary policy review will look at green finance and engagement with citizens – Lagarde
Should the ECB increase the transparency of governing council meetings?
Observers and former officials weigh pros and cons of greater disclosure for policy efficacy and independence
Sovereign debt needs strong collective action clauses – ECB paper
CACs with bond-by-bond voting fail to prevent creditor holdouts, researchers find
Book notes: The long journey of central bank communication, by Otmar Issing
This book is a “masterly exposition on central bank communication, its evolution and continuing challenges”, writes Anand Sinha
European companies’ credit demand shrinks despite ECB stimulus
In Q4 2019, credit demand from non-financial corporations declined for first time in six years
Cœuré and Cunliffe to lead research group on CBDCs
Six central banks and the BIS will explore use cases and share knowledge
ECB calls for changes to German draft CCP recovery law
Law should be rewritten to provide more transparency on Bafin’s procedures and approach, ECB says
ECB willing to provide further stimulus – minutes
Governing council stresses inflation remains below its medium-term goal
ECB largely welcomes move to expand German macro-pru powers
ECB says measures giving BaFin greater powers are “appropriate”, but need better data
BoE will get back €58 million from ECB after Brexit
Decision yet to be made on who will make up the capital shortfall; UK will also see its membership of EIB rescinded
ECB paper looks at role of uncertainty in central bank comms
Researchers use machine learning to study market reactions to BoE inflation reports
Slovenian central bank demands courts rule on bail-in law
Bank of Slovenia says law would break EU Treaty as bitter dispute over bail-ins escalates
Phillips curve still explains eurozone inflation movements – research
Results may become a focal point of debate in the forthcoming ECB strategy review