Europe
No changes to Fed swap lines, Lagarde worried about ‘truth’ – panel
Fed, ECB, BoE, BoJ and BoK governors discuss tariffs, stablecoins, r*, scenario analyses and the future
Book notes: Our dollar, your problem, by Kenneth Rogoff
An excellent overview of the evolution of the world economy during the last seven decades, and a warning against complacency
Climate change among issues that became ‘taboo’ during QE – study
Central banks also exercised “strategic silence” on house prices to avoid becoming politicised
Pillar 2 supervisory requirements broadly decided at national level
Only 15% of authorities operate regional supervision offices
ECB announces dual-track DLT strategy
Short-term programme connecting platforms and Target services to launch in 2026
IMF disburses additional $500m to Ukraine
Central bank governor welcomes “positive news from Washington” as country passes latest EFF review
Supervisors rate resource sufficiency higher than staffing
Annual salary of supervision officials averages just over $40,000
ECB unveils latest strategy fit ‘for all circumstances’
Chief economist says unconventional tools are “unconventional for a reason”
Finland’s Välimäki on the ECB’s monetary policy framework review
Bank of Finland board member Tuomas Välimäki discusses the benefits of a ‘hybrid’ balance sheet model to provide dependable structural liquidity without distorting markets
Most supervisors have mandate to oversee non-banks
Supervision department staff average just over 150 individuals
Ex-OCC chief Michael Hsu on the impact of an America-first agenda
The former acting comptroller of the currency speaks with Christopher Jeffery about the future of the US Treasury market, Fed independence, financial de-regulation, the Genius Act and international co-operation
Abandoning HICP targeting would help the poorest – paper
Focus on discretionary spending inflation could lower recessions’ effects, Sintra conference paper argues
Policy to remain restrictive for now, says BoE governor
Bailey says there will be “gradual and careful approach” to any further easing
Home loans with loose standards go sour when rates rise – ECB
Borrowers who “may not initially appear risky” could be swept away in a downturn, bank warns
Czech central bank holds rates in unanimous decision
CNB takes wait-and-see approach despite strong economic growth
Hungary holds rates as economic outlook nosedives
MNB’s annual growth forecasts are significantly lower than the government’s
Recollections may differ on Weimar hyperinflation – ECB blog
Author says first-hand accounts suggest episode was less traumatic than politicians would later claim
Lagarde renews calls for digital euro
ECB president tells lawmakers to “rapidly” introduce legislation for CBDC launch
Bank of England urged to rethink HHI concentration risk add-on
Experts think overhaul of credit risk measure should be part of PRA’s ongoing Pillar 2 review
US stablecoins pose ‘severe risks’ to monetary sovereignty – paper
Assets threaten stability in eurozone and global south, authors find
Bailey ‘remains to be convinced’ about retail CBDCs
BoE governor adds that stablecoins must “pass the test of singleness of money”
Regulatory confusion hinders euro stablecoins, says DRW founder
Conflicting interpretations of EU rules will divert more capital away from euro assets, says Don Wilson
EBA mulls rule changes to speed up model approval process
Reducing compliance burden of credit risk model updates can aid banks and supervisors
BoE seeks balance in regulating financial innovation
Prudential supervisor outlines hands-off approach for AI but tight rules for crypto