Europe
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
Climate risk could affect both financial and price stability – BdF’s Dees
Head of French central bank’s climate economics unit says monitoring climate risks is vital for fulfilling primary mandate
ECB’s Montagner: banks, insurers need separate capitalisation
Insurance arms should not backstop banking businesses in bancassurance groups, top supervisor says
BoE analysis sparks debate over reuse of repo collateral
Central bank policy analyst contends reuse of collateral may amplify volatility in repo rates
Tariffs do not solve tensions but erode global growth – Lagarde
In speech to the PBoC, ECB president says countries with surpluses and deficits must both try to find solutions
Central banks favour instant payments over CBDCs
Interoperability of systems and financial inclusion drive decisions among survey respondents
Central bankers discuss policy-making amid high uncertainty
Flexibility, caution and financial stability analysis can support monetary policy, panellists say
ECB to move to ‘hybrid’ balance sheet model – Finland’s Välimäki
Bank of Finland board member heralds “new dawn” of Eurosystem monetary policy implementation
Rule of law of ‘highest relevance’ for central banks – Elderson
Economic growth requires institutional independence and strong legal framework, ECB board member says
Digital yen must be as robust as cash – BoJ deputy governor
Uchida says Japanese CBDC will need to retain public trust to same degree as notes and coins
BoE makes subtle leverage snipe at CCP cross-margining
Margin offsets might increase risk, but could also encourage more central clearing
MREL cut must be paired with more external funding – BIS’s Restoy
Reforms to resolution regime might appear technical but entail political choices, FSI chair argues
Banque de France governor declares victory over inflation
Villeroy de Galhau says France has to “spend better” to reduce debt
Near-24/7 RTGS systems more susceptible to outages
Central banks with longest uptime also report highest number of contingency sites
Working group minutes: central banks seek cash cycle efficiencies
Some EME institutions are restructuring operations and promoting digital payment methods
Most RTGS systems projected for upgrade within a year
Two in three RTGSs operating 13–16 hours daily to be upgraded within a year
European Central Bank reduces rates by 25bp
Lagarde hints at pause in next meeting, dispels rumours about early departure
Central bank gold buying slows in April
World Gold Council says higher prices may be behind reduced interest
ECB greenlights Bulgaria’s accession to eurozone
Politicians show cautious optimism as Bulgarian central bank governor lays out next steps
Budget and RTGS operating expenses rise year on year
Share of central banks charging both fixed and varied fees for RTGS access grows