National Bank of Austria
ECB gives mixed reception to new macro-pru measures
Austrian proposals welcomed, but ECB raises concerns over Belgian draft law
Paper examines how sovereign debt losses hit real economy
Researcher presents unique database on eurozone sovereign debt crisis
ECB announcements in QE era shifted inflation expectations, Austrian paper finds
Researchers use daily data on bond yields and inflation-linked swaps
Global securities lending services provider of the year: BNP Paribas Securities Services
The French bank has helped a range of official institutions to glean additional revenue from their bond holdings in tight markets
Austrian central bank gives award to two young economists
Papers study responses to shocks in structural funds and effects of trade on business cycle
German economist wins central bank prize
Klaus Adam wins award jointly sponsored by SNB, Bundesbank and National Bank of Austria for “innovative work” on asset prices and monetary policy
Credit contractions are significant cause of unemployment, researcher says
Data from 20 OECD countries shows that contractions in credit affect total, youth and long-term unemployment measures, a working paper from the Bank of Austria argues
US unconventional monetary policy most effective in financial crisis, paper argues
Conventional and unconventional monetary policies in the United States work through distinct channels, with different levels of effectiveness in crisis conditions, researchers argue
Competition in treasury auctions reduces bidder surplus, working paper finds
Data from before and after Austria’s entry into the European Union shows increased competition in bond auctions substantially reduces bidder surplus, researchers say
US monetary policy contraction means drop in global output – paper
Raising interest rates in the US leads to lower global output and inflation in the short term; most 'pronounced' responses evident in the mid-1990s to mid-2000s
Austria should ‘stand ready’ to tighten capital requirements, IMF staff say
The country has made ‘significant progress’ in restructuring the regulatory and supervisory framework, the report says, but the banking sector's resilience could be strengthened
Technology provider of the year: BearingPoint
BearingPoint's Abacus/Regulator system is helping central banks cope with the vast volumes of data that come with new regulatory reporting requirements
National Bank of Austria tells banks not to slow reform pace
Financial stability report notes trend of improving capitalisation has slowed; urges banks to continue the reform process and avoid short-term growth at the expense of stability
Paper explores whether governments prefer under-capitalised banks in crises
Governments may prefer banks to be weakly capitalised as this increases the likelihood they will act as buyers of last resort for domestic debt; paper considers impact on regulation
EU must ‘contain divergence’ between member states, says Polish central bank head
Marek Belka says reforms will not be supported unless European Union prevents economic divergence; speakers say quality of structural reform debate must improve
Polish governor criticises five presidents’ report
Marek Belka says proposals contain ‘some good ideas’ but are ’timid and vague’ about what should be done in the longer-term; speaks alongside Ewald Nowotny at Warsaw conference
Austrian central bank will shut NY office in savings drive
National Bank of Austria expects to cut expenses by €96 million in the next five years as part of ‘optimisation’ project; New York office and branches in Graz and Linz will close by 2018
Nowotny considers ‘human costs’ of structural reform
National Bank of Austria governor challenges economists to think about the quality of economic growth, suggesting this could have implications for the pursuit of structural reforms
Nowotny sees ‘strange irony’ in Austrian success
Central bank governor argues policy-makers made Austria economically successful by acting contrary to the libertarian approach favoured by the Austrian School of economics
Austria to repatriate third of gold reserves
Central bank plans to move gold out of the UK and into Austria and Switzerland after court of audit raises concern over ‘high concentration risk’
ECB adviser admits more clarity needed over stress tests
Banks should be given a clearer picture of why their stress test numbers don’t pass muster with the ECB, says Christoph Siebenbrunner of the Austrian National Bank
Research takes Bayesian approach to find early-warning indicators
Excessive credit growth and high returns of bank stocks are the ‘best’ early-warning indicators, researchers from Austrian and German central banks find
Central banks in SE Europe publish 19th century data
Institutions in Albania, Austria, Bulgaria, Greece, Romania, Serbia and Turkey team up to shed light on ‘statistical dark ages’ going back to the Ottoman Empire in 1830
Hélène Rey receives first Carl Menger Prize from German-language central banks
London Business School professor is recognised by Bundesbank, Swiss National Bank and National Bank of Austria for research informing ‘concrete work' of central banks