European Central Bank (ECB)
Regulation should be ‘smarter’, not ‘less’ – ECB’s Donnery
Financial resilience cannot be sacrificed under banner of simplification, senior supervisor says
Eurozone fiscal policies grew real GDP, dampened inflation – ECB
However, Covid-era policies led to higher deficits and debt in years following pandemic, research finds
Knot becomes ‘cautious believer’ in euro internationalisation
DNB chief says EU’s institutions must be robust and its finances sustainable if it’s to attract investors
Danish krone becomes fully integrated into Target
National Bank of Denmark becomes first non-eurozone central bank to join Tips and T2 systems
EU firms fear dollar liquidity becoming tariff bargaining chip
Trade war escalation could affect ECB's access to Fed swap lines
ECB makes quarter point cut amid ‘exceptional uncertainty’
Lagarde says anyone who thinks world is “shock-free” needs “their head examined”
Amid tariff turmoil, banks warned not to fudge IFRS 9 overlays
Flip-flopping US policies challenge loan loss provisioning models; EU regulators are watching closely
MNB to suspend controversial foundation
Ex-governor calls audit “smear campaign”; government blames ECB for not allowing closer surveillance
ECB’s Donnery calls for stronger supervision of non-banks
Firms’ ties with banks should be promptly addressed, supervisory board member says
Central bank independence helps price stability – ECB paper
Research shows that greater autonomy means more policy discipline and enhanced credibility
EU policy-makers lash out at Trump’s trade policy
Central banks say tariffs will create “many losers” in both Europe and the US
‘Liberation day’ was not peak uncertainty – Schnabel
EU was “not born to screw the US, but to make Europe thrive”, says ECB board member
Take foreign policy veto away from EU members, says Lagarde
ECB president makes case for qualified majority voting in an apparent rebuff to Hungary
Policy uncertainty ‘exceptionally high’ – de Guindos
Prudence needed as evaluating likely outcomes “no longer possible”, ECB vice-president says
ECB ‘assessing’ bilateral link to India’s UPI – Cipollone
Board member says US promotion of stablecoins presents real risks for EM central banks
Banknotes: January to March 2025
A round-up of news and salient issues that have affected central bankers in the past three months
No need for repo clearing ‘cannon’ in Europe, says industry
Observers question rationale for a clearing mandate, calling for clearer incentives
Buch: geopolitical risk is ‘our new business as usual’
ECB supervision chief tells EU parliament there is no trade-off between growth and effective supervision
EU debt wave raises dealer capacity concerns
Ongoing QT and upcoming defence spending piles pressure on bank balance sheet supply, say dealers
AI at the ECB and the need to strengthen internal critical thinking
Carlos Bowles writes that efficiency gains should be shared with staff and efforts made to protect cognitive capacity
ECB tells lenders to regularly tap central bank liquidity
Banks should include refinancing operations in day-to-day liquidity management, say Buch and Schnabel
Most people would not switch to digital euros – ECB research
Consumers would only allocate a small portion of €10,000 if given the choice, paper says
Forward guidance ‘partly to blame’ for inflation – panel
ECB should do more scenario planning, revise collateral rules and incorporate Taylor principles
ECB framework needs ‘few tweaks’ – panellists
Digital euro is “even more important” in the wake of Trump CBDC ban, says BdF governor