European Union (EU)
NBFI oversight ‘no longer adequate’, say BdF economists
Researchers call for stronger supervision of non-bank sector ‘before risks actually materialise’
EU-US relations ‘broken in a deep way’ by Trump 2.0 – Blanchard
Economist says 27-strong bloc must not take sides with Beijing or Washington
Regulators must be as tech savvy as the scammers – panel
Officials say fraudsters’ use of AI means central banks will need a more agile approach to supervision
Book notes: Can Europe survive? By David Marsh
Marsh poses important questions and cannot be blamed for failing to produce a roadmap to continental salvation
Olli Rehn on demographics, geopolitics and ECB policy
The Bank of Finland governor speaks about immigration and productivity, private credit and stablecoin risks, the mood on the governing council and the impact of conflict in the Middle East
Exporters to US paying only 5% of Trump’s tariffs – ECB research
Data shows stateside consumers bearing brunt of costs from levies on imports
For collateral, can TINA become TIA?
US Treasuries’ dominance as collateral in repo and derivatives is no longer set in stone, argues economist
Geopolitics becoming ‘key risk’ for central banks – panel
Experts at ECB conference say political upheaval now a greater concern than price growth
Interest rate crosswinds buffet IRRBB teams
Political intervention and rapid-fire law changes are skewering bank models for forecasting cashflows
NBU tells banks to avoid Hungary after cash and gold heist
Hungarian government official explicitly ties asset seizure to dispute over stricken oil pipeline
Bank of Russia sues EU in Luxembourg over asset freeze
Legal battle between Moscow and Brussels continues as bank reserves stay immobilised
DNB implements ‘geopolitical resilience programme’ for banks
Chair of supervision says Dutch central bank must be able to perform core tasks in ‘extreme scenarios’
QT ‘crucial’ if ECB is to tackle future crises, says Nagel
Bundesbank president says dollarisation by way of stablecoins could weaken European sovereignty
Repeat of past mistakes fuels risk of new crisis
Jesper Berg and Hans Geeroms argue that bank lobbying has succeeded in securing a dangerous softening of rules
Suspended Bulgarian deputy appointed as caretaker PM
Country’s president says Gurov is only candidate not tainted by association with outgoing government
EU banks need more control over their data – DNB board member
Chair of supervision says tech, finance and public sector need to work together to reduce dependencies
EU should ‘roll up its sleeves’ against China and US – BdF head
Villeroy de Galhau says Europe has ‘many cards to play’ in geopolitical game
Academics call on European Parliament to back digital euro
Signatories of open letter say CBDC is vital to ensure Europe is not reliant on US payment providers
Baltics announce nominees for de Guindos’s position at ECB
Estonia proposes central bank governor, while Lithuania nominates finance minister
Bulgaria becomes 21st member of the eurozone
Joining currency bloc is a “sign of belonging”, says governor Radev, as peers offer welcome
National central banks hold rates across Europe
Albania, Czech Republic, Hungary, Norway and Sweden all leave policy unchanged