Europe
Third TLTRO sees extra €98 billion borrowed from ECB
Latest allocation of cheap loans pushes total amount borrowed to €310 billion; measures aimed at repairing transmission mechanism and encouraging loans to real economy
Protestors clash with police as ECB opens new premises
Demonstrations organised to coincide with inauguration of new ECB building lead to outbreaks of violence; Draghi calls for economics and politics of integration to be ‘reconciled’
Riksbank: Economic activity in Sweden ‘at a standstill'
Central bank survey shows companies still being hampered by the slow recovery in Europe, leading them to try cutting costs to increase margins
ECB publishes new economic bulletin
The first in the new series, introduced to ‘mirror’ new governing council meeting cycle, features an assessment of the Chinese economic outlook
Researchers find evidence of ‘European unemployment cycle’
Working paper published by The Netherlands Bank separates the different origins of unemployment in Europe, finding the continent- and country-level factors most influential
IMF report says ‘time has never been more right' to reform securitisation markets
Staff report emphasises need to make securitisation practices more robust while spurring demand; calls for standardised classifications of underlying risk characteristics
Mersch lays out path to capital markets union
ECB executive board member says harmonised regulation and ‘institutional adjustments’ needed in Europe; suggests change in securities markets
BoE’s Cunliffe wants better allocation of capital in Europe
Better functioning capital markets would encourage savings to be put to better use, allow greater risk sharing and provide alternative sources of finance, deputy governor says
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
EBA moving to iconic Canary Wharf tower
European Banking Authority will soon vacate its current offices in the City of London and take up residence in Canary Wharf
ECB statistics chief calls for greater co-operation on data reporting
Aurel Schubert says crisis exposed bank's traditional aggregated statistics as ‘insufficient for comprehensive analysis'; new approach needs to avoid double reporting
BoJ paper finds US crisis policy more impactful on markets than European measures
Authors test policy responses to the global financial crisis including monetary, liquidity and financial sector policies, finding US announcements led to higher abnormal returns
ECB’s Godeffroy sees clear path to 2015 T2S launch
Director-general leading Target 2 Securities project says testing is largely going to plan; platform to create ‘survival of the fittest’ environment for European CSDs
Kocherlakota explains dissent from FOMC decision to end asset purchases
Minneapolis Fed president says downside risks to inflation outlook ‘arguably worse' than a year ago; says evidence from Japan and Europe shows need to act on 'an ongoing basis'
Fears surface over lack of trust among resolution authorities
Countries still do not trust one another enough to cooperate fully during the resolution of a globally systemic bank, participants at Chatham House event warn
Swift resists ‘political pressure' to disconnect Russian and Israeli banks
Brussels-based cooperative says calls for exclusion undermines ‘systemic global character' of its services; previously condemned EU parliament resolution in September
Olli Rehn: Scotland would need central bank to join EU
Independent Scotland would not be able to both keep the pound sterling and join the EU, former commissioner argues, referring to ‘core part' of union treaty
Bank of Portugal initiates administrative proceedings against 14 banks in first half of 2014
Throughout the period the Portuguese central bank also issued 357 recommendations 'to require the correction of irregularities and infringements detected'
Europe doubles RMB transactions with Greater China in one year
European hubs fuel growth in renminbi usage with 10% share of global payments, after major financial hubs sign swap agreements with the People's Bank of China
US and Europe more vital for Australian trade than thought
Australian goods being exported to western markets indirectly via east Asia, skewing statistics, according to paper using ‘complementary' estimates of value-added trade
Central Bank of Hungary buys $1.8m vacation home
Rural ‘castle hotel' boasts swimming pool, beer pavilion and a bowling alley; will be used for ‘recreation purposes' by staff and create local jobs, bank says
Opinion: Sepa opens borders for European money
ECB’s director-general of market infrastructure and payments reflects on the successful creation of the single euro payments area, its beneficial impacts and the payment cards challenge to come
Reza Moghadam quits IMF to join Morgan Stanley in London
IMF's Europe chief to 'return home' after 22 years with the Fund, lately ‘spearheading the Fund's response from one crisis to the next'; Thomsen promoted on an interim basis
Finland paper: Loans-to-deposits among best indicators of banking crises
Paper examines banking crises in 11 EU countries between 1980-2013; growth rates and trend deviations of loan stock variables also yield 'useful' signals of impending crises