European Union (EU)
Why the EU needs an asset management company
The European Banking Authority’s Piers Haben and Mario Quagliariello argue a well-designed asset management company should be a major part of efforts to clean up the European banking sector
Fiscal rules fail to tackle EU policy biases – IMF research
Many biases relate to political economy factors, and should be tackled by future adjustments to the governance framework, IMF economists say
EBA and Esma request clarification of CCP regulations
Agencies query areas of ambiguity for clearing houses’ derivatives transactions
EU watchdog enquires into Draghi’s membership of G30
NGO accuses ECB of being too close to financial industry
Spanish deputy governor hints at need for European banking mergers
Restoy says supervisors should not promote specific integrations
FCA urges progress on equivalency for derivatives trading
US and EU regulators should base recognition decisions on outcomes, not technical details
ECB backs EC plan to consolidate macro-prudential policy
Central bank says it should be handed new and clearer powers, while toolkit should go “beyond banking”
ECB publishes latest eurozone trade and investment guide
“Bop and IIP book“ explains compilation of national and eurozone figures
Eurozone must urgently raise productivity, Draghi warns
ECB policy provides governments with "window of opportunity" for reform, ECB president says
Austrian central bank gives award to two young economists
Papers study responses to shocks in structural funds and effects of trade on business cycle
‘Significant’ housing market risks in eight EU states – ESRB
UK outlook “highly uncertain”, while regulatory mandate in Sweden is “not clear”
Praet calls for European ‘fiscal backstop’ and deposit insurance scheme
Limited banking union leaves Europe more open to country-specific shocks, ECB economist says
Cœuré spells out ECB’s stance on Greek reforms
The Greek government must reform the legal process and status of banks, senior ECB figure says
Eurozone reform projects are not delivering, French governor says
“Investment crunch” is biggest problem, not savings glut, Villeroy de Galhau says
European supervisors publish new anti-money laundering guidelines
Some firms concerned over national supervisors’ ability to regulate money laundering risks
EU places sanctions on new Syrian central bank governor
Duraid Durgham placed under asset freeze and travel ban due to “support for Syrian regime”; Syrian currency under severe pressure from war and sanctions
Unit root methods can help detect financial bubbles, Finnish paper argues
Researchers apply tool to data from 15 European countries
EBA recommends changing basis of resolution finance
“Crucial” that new measure reflect ability to call on funds in case of resolution crisis, EBA says; new measure should be based on total liabilities
Irish central bank publishes minutes of first macro-prudential committee meeting
Governor and senior staff approve current O-Sii and C-Cyb plans; intend to look further at impact of macro-prudential measures on housing markets
EBA sets out 2017 work programme
Authority will undertake “re-prioritisation exercise” after European Commission does not meet full staff request
Coen seeks to quell European fears on Basel III
European parliament members accuse Basel Committee of favouring US over European banks; William Coen says “Basel process” is transparent and not dominated by any one interest
European Commissioner cautions US on TLAC rules
Dombrovskis says foreign banks should not be mistreated by Fed internal TLAC proposal
European commercial bond market may suffer from lack of liquidity, ESRB says
Banks complain of effect of European regulations on liquidity; reporting on European fixed income markets still has “significant information gap”
Basel Committee hits turbulence on approach to year-end deadline
Central banks and supervisors offer support to its year-end goal, but industry players and EU countries show growing concern over higher capital levels