European Commission (EC)
European Commission lowers 2023 GDP growth forecast
EC expects eurozone economy to expand by 0.6% this year
Eurozone budget deficit declined in 2022
Government imbalances declined to 3.6% of GDP from 5.2% in 2021
Currency round-up: Austrian leader calls for right to cash
US Mint continues quarters programme; Bangladesh adopts “clean note” policy; and more
ECB says Hungary has infringed central bank autonomy
Frankfurt says restrictions on bond buying interfere with monetary policy
EU concludes authorities cannot seize Russian assets
Brussels says Europe may be able to invest assets and use extra profits to aid Ukraine
OK regulator? How AI became respectable for AML controls
Dutch court case pressures supervisors to accept new tech; explainability the key challenge
EU countries must report Bank of Russia assets, Commission says
Move opens way for seizing Russian assets, but Swiss government says confiscation would be illegal
Spain’s De Cos calls for greater ambition in EU fiscal reforms
Redesign of fiscal rules must be supported by wider reform of financial governance, governor says
EU approves ‘prohibitive’ capital rules for banks’ crypto holdings
Draft law implements final parts of Basel III, planned for January 2025
Italy to allow larger cash payments despite central bank objections
Official warns move could encourage illicit activity
Glapiński accuses Germany of wanting to redraw land borders
Polish governor warns on plans for EU super-state as German foreign office calls claims “absurd”
Uncertainty over ECB’s TPI muddies monetary and fiscal impact
Analysts say anti-fragmentation tool exposes long-standing flaws in EU fiscal framework
Hungarian central bank raises rates again amid EU dispute
MNB downplays role of weakening currency and says external factors are driving inflation
Croatia gets green light to become 20th eurozone member
Eurozone expands for first time since 2015
US banks anticipate delay to Basel III implementation
New Fed supervision head expected to align schedule with EU and Japan, but time is tight
ECB praises eurozone’s economic response to Covid-19
EU capital markets need to deepen to allow green and digital transformations, ECB says
Western officials call for freeze of Bank of Russia’s overseas assets
Nabiullina pledges liquidity support as Bundesbank official says any central bank assets are frozen
Regulators race to curb crypto asset money laundering
Crypto assets are increasingly used as vehicles for money laundering, but regulating them is not necessarily straightforward
Planned EU cross-border trading ban to hit most large markets
Most major jurisdictions currently provide either interdealer or client exemptions
Eurozone officials call for major fiscal changes
Stability and Growth Pact is hampering policy, speakers at ECB conference argue
ESG reserves adoption challenged by reliance on sovereign bonds
Higher issuance of government-compliant bonds is insufficient to offer investable alternatives to central banks.
BIS launches third green bond fund in Asia
Asian Development Bank and BIS aim to foster issuance of safe green assets
ECB’s stress capital buffer still a ‘black box’ – banks
National regulators retain wide latitude to set Pillar 2 Guidance under new rules
Eurosystem calls for full Basel III implementation
Supervisors say output floor should be implemented through single set of risk-weighted assets