Europe
People: FSB appoints new secretary-general
ADB’s East Asia department and International Association of Deposit Insurers also gain new heads
ECB strongly criticises Slovenian draft law on central bank
Proposals would put legal burden of proof in banking crisis cases on central bank, ECB says
London-based banks face ECB Brexit power grab
Drive to supervise swaps books from Frankfurt threatens cross-border balance sheet management
Stressed banks may hamper deleveraging in eurozone periphery – ECB paper
Researchers use data on more than 400,000 companies and 900 banks from seven eurozone countries
Eurozone rate rises would have mixed impact on banks, ECB says
Keeping rates at the same level would decrease net interest income absent credit growth
ECB welcomes European Commission’s CCP proposals
Suggested policy would give all EU central banks greater regulatory role
ECB starts publishing corporate bond purchase data
Move increases transparency, but data contains few surprises, analysts say
ECB taper unlikely to upset major European equity investors
Norway’s sovereign wealth fund is boosted by its €200 billion investment in European stocks
ECB targets NPLs with tougher prudential rules
The proposed regulation will only apply to new distressed assets from January 1, 2018
ECB calls on Commission to rethink CCP resolution and recovery plans
Proposals need to shift focus from stand-alone recovery, ECB says
EBA recommends new prudential regime for investment firms
Firms should be subject to tripartite classification with different capital requirements
Nouy: Europe’s bankers need courage for cross-border mergers
Bankers have “turned inwards” in the face of difficulties, says ECB supervisor
EBA and US agencies agree framework for cross-border resolution
Document lays out principles for information sharing and future crisis management agreements
Constâncio discusses possible changes to new ECB model
Modelling of aggregate consumption and expectations must improve - ECB vice-president
‘Substantial’ accommodation still needed in euro area – Liikanen
Bank of Finland's governor says improved growth and investment prospects have failed to affect inflation; underused capacity expected to be taken up “gradually”
Italian finance sector must change, deputy governor says
Banks too exposed to cyclical conditions and firms too dependent on loans, Rossi says
Non-bank stress tests must be improved – Constâncio
ECB vice-president says stress tests for non-banks are still in a “fledgling state”
European Commission announces supervisory agency reforms
Proposals would see Esma’s powers significantly increased while all ESAs would gain executive boards
Banks fear uneven playing field on NSFR
Asian jurisdictions are likely to implement the key liquidity metric before the US and Europe
ECB develops new overnight benchmark rate
The new rate will complement the existing overnight benchmark, Eonia
ECB paper attempts rigorous testing of economic sentiment
Researchers correlate economic data from 1985 to 2016 with measures of sentiment
Tapering ECB asset purchases could free up market forces- Bundesbank board member
Market reaction hard to predict, Joachim Wuermeling says
Brexit makes regulatory arbitrage more relevant, Nouy says
Policy-makers should rely more on regulations and less on directives, ECB supervisor says
National curbs hit budding pan-EU settlement market
Restrictions on primary dealers undermine T2S efficiencies, market sources say