Europe
People: Peru’s president-elect asks governor to stay on
Plus: Irish central bank makes senior appointments
Romania and Poland continue to hold rates
Central banks exercise caution as inflation and geopolitical risk cloud outlook
DNB fines ABN Amro €8.5m for AML shortcomings
Former ECB supervisory board member says penalty signals seriousness of breach
Floored: Basel III rethink upsets IRB dominance
Introduction of output floor means internal ratings’ popularity takes a hit, but isn’t quite out for the count
Size and business model are key elements of risk profile
Supervisors tend to inspect systemic banks once a year
ECB tells banks to plan for AI-related collapse in cyber defences
European Systemic Risk Board warns response times have narrowed from days to minutes
Supervisors report sharp increase in AI adoption
Summarisation ranks as topmost area of application, with biggest use in larger teams
Data-driven approach needed to assess impact of AI – Lane
ECB board member sets out multiple unknowns as technology reshapes macroeconomic landscape
Soledad Núñez on the future of European financial stability
Spanish deputy governor discusses global regulation and lessons from extreme weather
Banque de France’s Denis Beau on supervisory reform
The Banque de France’s deputy governor speaks about suppression of the systemic risk buffer, proposals for a TLAC floor, and simplifying bank regulation and resolution
Credit risk is supervisors’ top priority
Climate and AI risks rank lowest across respondents
Lagarde ‘regrets’ forward guidance and Warsh plans ‘family fight’
Fed, ECB, BoC and BoE heads discuss inflation, uncertainty, AI, stagflation and independence in Sintra
‘Who pays?’ remains biggest puzzle of digital euro – panel
Specialists say successful payment systems solve problems for consumers and merchants
More data does not mean better outcomes – EBA policy expert
EU’s previous credit risk approach created ‘crazy backlog of model validations’, official says
Europe leads in funds for deposit insurance and resolution
Supervisors from high income jurisdictions more likely to operate deposit insurance and resolution funds
EUR vs USD stablecoins is the wrong debate
Market structure and regulatory cohesion is at the centre of the stablecoin liquidity evolution, says Flow Traders’ digital assets head
Elizabeth McCaul on the need for resilience in cyber security
Former ECB official explains why response preparedness is more important than predicting attacks
BoE publishes approach to joint stablecoin regulation with FCA
Framework sets out path for stablecoin issuers facing oversight from two regulators
African supervisory authorities tend to lack sufficient staff
Most respondents combine banking supervision in one unit
Non-central bank authorities tend to supervise non-banks
Non-banks offering credit-like products unregulated in tenth of jurisdictions
Cheap Chinese imports keep eurozone goods inflation down
Paper says prices may stay low because of excess capacity, weak Chinese demand and yuan
ECB scraps 40 supervisory publications in simplification push
Revised guidelines should make bank’s expectations clearer, says vice-chair of its supervisory board
Governors move markets as much as ECB board members – paper
Presidents' speeches have greatest influence, followed by those given by heads of national central banks
Geopolitics is driving monetary policy – panel
ECB’s Vujčić points to impact of US equities, while BoE’s Taylor says uncertainty justifies rates hold