European Union (EU)
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”
Croatia gets green light to become 20th eurozone member
Eurozone expands for first time since 2015
Lagarde sees risks in ‘new global map of economic relations’
ECB president says fragmentation through “friend-shoring” and regionalisation is rising
ECB supervision and the state of the eurozone’s banks
ECB banking supervision has passed the first stage of the Covid-19 test, but many challenges remain
Bank of Russia caps FX withdrawals and EU sanctions Belarus
Russian depositors can withdraw unlimited rubles but only up to $10,000 in foreign currency
People: FCA chair steps down; Esma chair steps up
UK’s Financial Conduct Authority announces departure of chairman; Verena Ross to chair Esma; Ecuador’s central bank gets new monetary and financial policy boards
More regulatory action on big tech may be needed – FSI paper
Actions so far may not be enough to address growing risks, says Financial Stability Institute
Swiss government sets parameters for climate reporting
Guidelines intended to bind large Swiss companies from the 2023 financial year
Eurozone fiscal deficit declines in Q1
Lower imbalance due to lower spending; revenue remained stable as a share of GDP
BoE officials welcome stronger post-Brexit regulatory powers
Andrew Bailey says UK must not become a “rule-taker” on financial services
BoE’s inflation target may hamper response to no-deal Brexit – IMF
Report urges BoE to bolster market communication in the event no deal is reached
BoE says banks can cope with Brexit and pandemic
But central bank warns EU actions are risking some disruption as transition period ends
Eurozone must not cut fiscal support too soon – IMF official
Environment favours public investment, but spending must be transparent, says fiscal affairs director Vítor Gaspar
Barbados governor hits back at AML ‘blacklisting’
Action by EU is “pernicious” amid pandemic and IMF programme, says Cleviston Haynes
EU sees huge appetite for new triple-A asset
‘Sure’ bonds offer the ECB a less controversial option for asset purchases
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
BoE welcomes temporary deal on post-Brexit clearing
‘Equivalence’ decision will avoid short-term cliff-edge for CCPs, as Brexit negotiations enter final stages
EU needs single anti-money laundering body, EBA says
EBA calls for EU to include investment and crypto-asset firms in scope of tougher AML/CFT laws
What makes for good financial supervision?
The Wirecard debacle has led to calls for more effective oversight
European Commission pushes for €750 billion budget expansion
Shared financial resources designed to support weakest EU members while spreading cost
Book notes: Crisis spaces, by Costis Hadjimichalis
“Don’t buy this book, unless you are a dedicated Marxist”