Europe
Lenders to export-oriented firms may face losses – Danish governor
Nødgaard also recommends that banks improve their cyber defence plans
Dollar stablecoins would reintroduce credit risk – Cipollone
ECB board member makes renewed case for digital euro, announces collateral management system
ECB intervention stabilised debt market during Covid – research
Study by bank’s economists says firms found it harder to issue commercial paper later on
NY Fed and BIS explore monetary policy in a tokenised world
Project Pine’s smart contracts are designed so central banks can adapt them to their currencies and frameworks
US has got what it wanted from Basel, say former regulators
Process has been "essentially driven" by US interest, says former Fed vice-chair
German and Spanish governors criticise US policies
Nagel defends Fed independence, while Escrivá cautions against excessive deregulation
BoE to consult on promoting clearing for gilt repo market
Deputy governor also takes aim at bilateral repo haircuts and cross-CCP netting
Hungary to change central bank law
Amended legislation would increase size of monetary council and ban creation of new foundations
EBRD outlook turns gloomy after US tariffs
“Not a very happy picture” for world economy, says institution’s chief economist
Eurozone monetary policy must remain ‘firmly’ neutral – Schnabel
ECB board member cautions against overreacting to undershooting
Rate hikes have created debt-servicing difficulties – ECB study
Research also points to overall robustness in eurozone’s household lending sector
Over half of central banks employ strategic progress monitoring tools
Just a quarter of jurisdictions evaluate success with external means
Albania, Norway, Sweden hold rates, Poland cuts by 50bp
Falling food and energy prices amid high trade uncertainty prompt cautious approaches
Central banks rate strategic plan visibility and authority highest
Resourcing tends to be somewhat more challenging across jurisdictions
ECB launches digital euro ‘innovation platform’
Bank garners around 70 private “pioneers” and “visionaries” to discuss CBDC
Third of central banks link staff remuneration to strategic plan
Strategic planners are paid $40,000 on average per year
Eurozone exports to US unlikely to rise in trade war – ECB study
US tariffs rerouted Chinese goods to eurozone, but exporters there failed to boost US presence
Almost half of eurozone ready to stop buying US goods – ECB study
Tariffs have triggered significant animosity among consumers, research finds
Pension funds hesitate over BoE’s buy-side repo facility
Reduced leveraged and documentation ‘faff’ curb appetite for central bank’s gilt liquidity lifeline
Strategic plans widely integrated into staff annual reviews
Staffing averages just under five persons in strategic planning units
US Basel equivalence questioned as EU patience wears thin
MEPs say unfaithful US implementation of Basel III could trigger review of access to EU markets
ECB removes need for governing council to approve CCP facility
New “automatic” facility will require safeguards that are “still being implemented”, bank says
Working group minutes: refining forecast models
Central bank economists discuss challenges of tackling errors and integrating new model features
Stress tests stronger in EU than in US – BdF research
Lenders remain well capitalised in both regions but European banks are more resilient, study finds