European Union (EU)
Ingves says Europe not ready for common regulatory capital rules
Basel Committee chairman Stefan Ingves says Europe lacks necessary common legal powers and mechanisms to standardise regulatory capital treatment; advises Europe against introducing a Tobin tax
System risk lessons from FX loans in Central and Eastern Europe
The build-up of forex loans in the CEE presented a systemic challenge to the region's financial stability. Piotr J Szpunar argues this points to a need for macro-prudential rules in Europe
Bank of Estonia notes increasing electronic payments
Central bank says more than 99% of non-cash payments in Estonia are now electronic; further increase in use of internet payments expected
Greek governor renews warnings about euro exit
George Provopoulos repeats warning on the consequences of Greece leaving the eurozone; urges next government to implement reform agenda
IMF sounds warning over European deleveraging
Lagarde hopes to ‘significantly’ increase resources available to the IMF during spring meeting; Financial Stability Report also recognises need for increased firewall as deleveraging rages on in Europe
Commission paper sheds light on dangers of shadow banking
The potential for shadow banking to damage the wider banking system and disrupt the macro-prudential aims of the ECB has been highlighted in the latest green paper from the European Commission
Euro has benefited smaller states, says Polish central bank chief
National Bank of Poland president Marek Belka tells conference that the euro has had a substantial positive impact for smaller European countries
ECB compromise on Basel III adjustments gets mixed response
An ECB proposal for the European Systemic Risk Board to have oversight on whether European regulators can adjust Basel III for macro-prudential purposes gets a mixed response from central bankers
Esma under pressure on Emir implementation
A public hearing on Emir draft technical standards has left market participants concerned regarding both the implementation time frame and the asset classes covered by trade repositories and CCPs
Central Bank of Hungary governor offers to give up salary
Andras Simor attempts to ease conflict with government; desperate for the country not to lose ability to negotiate with International Monetary Fund over emergency funding
De Larosière fears another crippling credit crunch in Europe
New international banking regulations aimed at cleaning up the financial system could cause a crippling credit crunch in Europe, says Jacques de Larosière