European Union (EU)
UK regulators welcome Brexit ‘back-stop’ legislation
Draft law would allow firms temporary access to UK markets in event of ‘hard’ Brexit
EU negotiator questions UK’s approach to post-Brexit regulation
Chief negotiator Michel Barnier said to express strong doubts over UK approach in private meeting
Seychelles must act fast on money-laundering, says central bank
Failure to act could lead to major damage from loss of correspondent banking, report says
Weidmann calls for fiscal consolidation and sovereign risk reform
Bundesbank president maintains tough stance on key policy issues
CFTC chairman expects to resolve EU-US CCP spat
Giancarlo lauds relationship with EU’s Dombrovskis
FCA’s Bailey calls for unity on post-Brexit regulation
Chief executive calls on EU authorities to co-operate with counterparts in the UK
Mifid transparency has failed so far, say traders
Poor-quality, inaccessible data and the lack of instruments covered undermine use case
EU should create ‘virtual’ post-Brexit replacement for City of London – Bundesbank official
Future financial centres may not need “physical proximity”, Wuermeling says
People: Tunisian governor resigns; EFSF appoints chairman
Governor Ayari quits after Tunisian prime minister initiated the process to replace him; EFSF picks new chairman; European Commission proposes new chief for Systemic Risk Board
Cœuré: ‘three lines of defence’ needed to protect ECB
The ECB executive board member says without reforms the ECB may end up having to “test the limits of its mandate”
People: FCA creates Brexit role; new Uzbek deputy
UK FCA creates new senior role to oversee Brexit work; Adham Islamov joins Central Bank of Uzbekistan; Swedish and French regulators join Esma board
Ireland nominates Lane for ECB vice-presidency
Irish governor has a track record as academic economist and senior ESRB figure
Carney rejects accusations of ‘cognitive bias’ at BoE
Parliamentary committee members say BoE relied on inaccurate forecasts before Brexit, affecting policy decisions
ESM hails Greece’s progress in third bailout
The country should exit the programme in August as growth accelerates and bond yields fall
Bundesbank panellists call for change in German ‘mindset’
Mario Monti says he would like to free Germans from their economic “straightjacket”, while Benoît Cœuré hints at need for rebalancing
EU ombudsman asks Draghi to relinquish G30 seat
Prolonging the president’s membership threatens independence and public’s trust in the ECB, O’Reilly declares
BoE’s Woods warns of ‘point of tension’ in Brexit negotiations
PRA chief fears EU supervisors may adopt a local mindset when dealing with cross-border firms
Platforms win small on Mifid day one
Some dealers stopped quoting bilaterally on smaller bond trades
BoE sets out post-Brexit supervision plans
Central bank says UK will aim to stay open as banks, insurers and CCPs are brought under the PRA’s oversight; changes imply heavy workload for the supervisor
European Commission proposes creating a European Monetary Fund
The new EU institution would replace the European Stability Mechanism in 2019
Portuguese finance minister named new head of Eurogroup
ESM manager praises Mário Centeno as a “passionate economist”
Doubts cast on Europe’s IFRS 9 transition period
Dynamic transition viewed as too complicated for banks to use or investors to understand
Bank of Spain was one of toughest pre-crisis regulators, report argues
But counter-cyclical provisions were not high enough to cope with crises, Bank of Spain says
Archive – EMU: a sceptical US view
Allan Meltzer of the American Economic Association explains why he is worried about a union by the back door; first published in November 1997