Europe
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
‘Significant non-linearities’ in debt-investment relationship, paper says
Researchers look at data from five peripheral eurozone countries
Only 30% probability of eurozone inflation hitting target in next year, paper says
Italian researchers present composite index based on 15 indicators of price dynamics
BIS’s Restoy warns against ‘supervisory straitjacket’
Rules-based frameworks for banking sector intervention may “unduly constrain” regulators, the head of the Financial Stability Institute says
Bank of Spain was one of toughest pre-crisis regulators, report argues
But counter-cyclical provisions were not high enough to cope with crises, Bank of Spain says
Benoît Cœuré: exchange rate pass-through has fallen for eurozone
ECB board member calls for reconsideration of IS curve modelling
Irish governor calls for fiscal prudence
The government’s debt target may need to be revised, argues Lane
‘Red teams’ will test cyber-security of European financial infrastructure
Bundesbank official praises “bug bounty” programmes that pay hackers to uncover vulnerabilities
Dispelling the German monetary myth
Economic historian Simon Mee finds the famous German aversion to inflation was the product of political battles in the mid-twentieth century