Europe
Do low rates spur investment?
Former IMF head writes there is little hard evidence that low interest rates spur investment
New body will share EU intelligence on cyber-threats
ECB, Europol and the EU Agency for Cybersecurity join forum to share cyber security information
Trust is crucial to eurozone interbank markets – ECB paper
More bank failures or longer-lasting crises lead to smaller interbank markets, researchers find
‘Systemic cyber incidents’ could cause major damage – ESRB
EU body says cyber attacks could reach “tipping point” and freeze financial sector
Why Bulgaria needs to deepen its currency board
Bulgaria’s currency board rules should be extended to transaction deposits at commercial banks
ECB unveils plan for its strategy review
Eurosystem will host “listening” events with general public, academia and civil society organisations
People: UK’s FCA makes three new appointments
FCA reshuffles board; senior Bank of Spain official joins Single Resolution Board
Weak eurozone banks hindered monetary policy – Bundesbank paper
“High-risk” banks failed to increase loan spreads despite ECB liquidity injection, researchers say
Stability versus solvency
There is still far too much regulatory forbearance on troubled bank debt
Book notes: The power of money, by Robert Pringle
Economists would benefit from reading this “remarkable” book about money’s historical and social roles
ECB’s TLTRO2 eased Italian credit conditions – BoI paper
QE measure lowered loan interest rates while increasing credit quantities, researchers find
Should the ECB add owner-occupied housing costs to its inflation measure?
Yves Mersch argues broader measure of housing costs would give more realistic inflation picture
Interview: Luiz Awazu Pereira da Silva
BIS deputy general manager talks about the obstacles central banks face with regard to climate change
ECB and BoJ point to major problem in DLT-based payments
Latest “Project Stella” report says central source of information could create single point of failure
BoE paper highlights non-linearities in bank funding and solvency
Results could be important consideration in stress-test design, authors say
Wider use of LEIs will improve stability, says DNB president
LEI system should be improved and made compulsory for more types of financial data – Klaas Knot
Schnabel takes on Germany’s ‘false narratives’ on ECB policy
Criticism based on “half-truths” imperils trust in single monetary policy and “undermines European cohesion”
Bulgaria: long live the currency board
Bulgaria should reject the euro and extend its currency board to cover bank deposits
Global governance is getting harder, warns BoE’s Cunliffe
Fading memories of crisis, new players and Brexit all create challenges, deputy says
DNB to tighten macro-pru over real estate fears
EBA says Dutch central bank fears overheating after house prices in large cities exceed previous peak
Central Banking Awards 2020: the winners
All the winners in the 2020 Central Banking Awards
ECB paper looks at professional inflation forecasters
No statistically significant evidence of some forecasters being worse than others, researcher says
EU regulators must end ‘tick-box’ approach to money laundering - EBA
First EBA report on national supervisors’ AML/CFT approaches says many agencies fail to co-operate
People: Fed governor gets new term; IMF’s Poul Thomsen to retire
New appointments made and portfolios reshuffled in the US, UK and more