European Central Bank (ECB)
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
Eurozone outlines payment verification system
ECB says new service will build on work by Portuguese and Latvian central banks
ECB calls for new macro-pru approach to address cyber risks
Stress-testing should combine top-down and bottom-up elements, latest bulletin says
Do central bank governors make good prime ministers?
Mark Carney is the latest to make the leap, but the record elsewhere has been mixed
European Central Bank continues easing with 25bp cut
Revised forecast points to stunted growth, as Lagarde says bank is operating in “high uncertainty”
Digital euro could aid EU competitiveness – Cipollone
ECB board member argues for CBDC as bank says national card payment schemes are declining
Basel uniformity fades as members defy dress code
Rule-makers diverge from Basel III standards, denting aims of comparability and fuelling fears over fair competition
Value-at-risk models face neglect due to FRTB uncertainty
Some banks delaying material upgrades until timeline to replace VAR becomes clearer
Losing key Chinese inputs could hurt eurozone – ECB paper
Halving of critical imports would cause drop of up to 3% in output for manufacturers, research shows
Eurosystem sees small rise in counterfeiting over 2024
€20 and €50 notes remain the most popular denominations to replicate
ECB looks to change staff committee rules
Staff committee says changes are “clear retaliation” for its survey of Lagarde’s performance
ECB board members express regret over QE stimulus
Cipollone says unwinding balance sheet thwarts rate cuts, while Schnabel wants “less activist” bank
Stop calling them ‘CBDCs’, ECB paper argues
Study says the term, and much other crypto terminology, is misleading and should be binned
ECB could do more to internationalise euro – research
Becoming international lender of last resort, issuing safe assets could improve offshore use
European politicians clash over ECB review, climate, digital euro
Report on bank’s performance critiques climate mandate, loss of purchasing power
Norges Bank considers joining T2
Norwegian central bank says it anticipates deal could be reached this year
Eurozone ‘not in a recession at all’ – Cipollone
ECB vice-president says there is “room to cut”, digital euro work continues and bitcoin is not gold