Denmark
National Bank of Denmark calls end to crisis measures
Central bank has moved from buying to selling foreign exchange in recent months, opening up room to return deposit limits to more normal levels and re-start government bond issuance
Danish central bank urges government to 'rein in' economy
National Bank of Denmark recommends countercyclical fiscal policy, including reformed housing taxes, as private sector growth has become strong enough to create risks
National Bank of Denmark warns fierce competition may damage lending standards
Financial stability report urges banks to build buffers and not cut corners despite the highly competitive, low interest rate environment
Danish payments report details challenging shift to real time
Completed in November 2014, ‘Straksclearing’ allows real-time settlement of retail payments, but has run into a few issues; National Bank of Denmark also in process of overhauling RTGS system
Danish annual report highlights move into equities
National Bank of Denmark implemented new investment strategy in 2014, adding riskier assets including equities and lower-rated government bonds to reserves
Denmark eases pressure on banks but stays tough on krone peg
National Bank of Denmark raises limits on current account deposits to ease pressure on banks after forex interventions, but stresses speculators will lose if they continue to attack the krone peg
Danish central bank prepared to cut rates further in defence of peg
‘We haven’t yet found any absolute lower bound' for the deposit rate, Danish governor tells Central Banking, but acknowledges potential for strain on payments system
Denmark cuts deposit rate for fourth time in three weeks
Governor Lars Rohde says central bank will defend peg to euro ‘for as long as it takes', adding there is ‘no upper limit' to FX reserves as key rate is cut to -0.75%
Denmark suspends bond sales to stem FX inflows
The move, intended to lower longer-term yields and thereby discourage upwards pressure on the krone, ‘effectively works as QE' says analyst
Denmark cuts rate for third time in 11 days
Danish central bank cuts its deposit rate for the third time since the Swiss National Bank decided to abandon its exchange rate commitment; rate now sits at -0.5%
Danish central bank cuts rates for second time this week
National Bank of Denmark lowers deposit rate for second time in four days following ECB action; central bank will defend euro peg ‘vehemently', says analyst
National Bank of Denmark heads deeper into negative territory
Unscheduled cut pushes deposit rate further below zero and leaves lending rate barely in the positive as krone comes under pressure ahead of expected ECB action
IMF paper suggests looser monetary policy to offset eurozone macro-pru policies
Staff paper examining housing markets in Denmark, Ireland, Spain and the Netherlands also proposes restricting banks' ability to pay dividends in order to absorb losses
Rohde mulls higher capital requirements if Denmark stays out of bank union
Danish governor wants country to join the European banking union in 2015; banks have lower capital buffers than counterparts in other non-member countries
National Bank of Denmark to outsource production of banknotes and coins
The National Bank of Denmark will outsource all of its printing and minting services to an external supplier in 2016, with an estimated saving of $17 million by 2020
Lars Rhode ‘firmly convinced’ by merits of banking union
The National Bank of Denmark wants to join the banking union, while the government is still assessing the consequences; Danske Bank chief economist supports wait-and-see approach
People: Swedish first deputy joins Danish FSA board; Bank of Russia names national payments head
Kerstin af Jochnick is handed a two-year term on the Danish FSA board; Bank of Russia appoints Alla Bakina to lead national payments department; Iosco chair re-appointed
National Bank of Denmark narrows range of collateral it accepts
Financial market ‘normalisation' provides ‘opportunity' to omit assets made eligible after crisis to keep Danish banks from borrowing in euros
People: BoE legal adviser to retire in April 2015; Banque de France appoints new deputy director
BoE loses chief legal adviser next year; Banque de France promotes its director of risk operations; Czech National Bank names new deputy director; and more
Negative Eonia rate causes CSA headaches
Eonia's move into the negative means parties posting variation margin must also pay interest to their counterparties, which has led to calls for clarity from dealers – especially for one-way CSAs
Nouy says SSM will bring ‘positive effects’ for Nordic banks
Supervisors from Nordic countries consider how their relationship will change when the SSM becomes operational; Denmark and Sweden are unlikely to opt in
Danish faster payments system sees limited uptake
Danish central bank annual report on payments systems finds disappointing uptake of an offer to settle customer payments faster; says CPSS/Iosco compliance should be ensured
Danish central bank ends negative rates experiment
National Bank of Denmark moves deposit rate into positive territory for first time in two years; Reserve Bank of New Zealand delivers second successive rate hike
Danish architects design new Central Bank of Libya
Copenhagen-based architectural firm won competition announced by central bank last July; building's desert-inspired façade to ‘express dynamism of Libyan economy'