European Union (EU)
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
EU agrees to use Russian asset profits to support Ukraine
“This is not our decision, but a political one,” says Euroclear chief executive
Ukrainian central bank cuts rates
Pyshnyy welcomes falling inflation, foreign exchange stability and prospect of renewed aid
Belgian governor calls for rethink of EU climate policy
Transition to lower-carbon economy will create losers as well as winners, Wunsch says
EU isolates frozen Russian central bank interest
European leaders are divided over using Bank of Russia assets to fund Ukraine’s defence
Bulgaria unveils euro coin designs after central bank act amended
Accession to single currency delayed due to high inflation and legal barriers
Italian governor concerned over Russian asset seizure, officials say
Panetta says renminbi has overtaken euro as international currency since Russia invaded Ukraine
Cipollone joins ECB board
Italian economist succeeds Panetta, who takes over the Bank of Italy
Germany needs tighter fiscal policy, Nagel says
EU Stability and Growth Pact should have stricter fiscal rules, Bundesbank president argues
Europe unlikely to see major gas shortage this winter – research
Risks remain if alternative sources of natural gas falter, says Fed economist
Why fear, paranoia and distrust swirl around CBDCs
Populists and conspiracy theorists are exacerbating public concern about retail CBDCs. What can central banks do about it?
BoF’s Rehn says government plans violate central bank independence
New Finnish prime minister says he will revisit policy statement
ECB says Hungary has infringed central bank autonomy
Frankfurt says restrictions on bond buying interfere with monetary policy
Currency round-up: De La Rue issues profit warning
Central African central bank to release new coins; and more
IMF approves $15.6 billion for Ukraine
Fund calls wartime loan “unprecedented” and risky
Lagarde slightly injured in car accident
ECB president was departing Euro Summit
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
The behind-the-scenes effort to convert Ukrainian refugee cash
How central and commercial banks worked to allow Ukrainians to exchange cash in wartime
ECB adopts new ethics rules on trading
New rules ban holding of individual equities, similar to Fed reforms
ERM’s 1992 crisis offers lessons for today, academics say
Barry Eichengreen, Maurice Obstfeld and Richard Portes discussed “accident waiting to happen”