Europe
ECB’s Evelien Witlox on design choices for the digital euro
The digital euro’s program director speaks about holding limits, waterfall arrangements, programmability, blockchain usage and offline ‘secure elements’ for cash-like exchanges
ECB sheds light on uses for a digital euro
‘Sandbox’ participants speak of largely positive experiences with prototype CBDC
ECB and SNB explore linking payment systems
Feasibility study will run through 2026, central banks say
Merz backs using Bank of Russia funds to help Ukraine
Frozen central bank assets could collateralise €140bn interest-free loan, says German chancellor
Central Europe’s central banks hold rates
Switzerland, Czech Republic and Hungary keep policy steady
Europeans flock to cash during times of crisis – ECB research
Study highlights hard currency’s role as ‘spare’ tyre in payments system
World Bank Ramp membership stronger among smaller teams
Share of central banks participating in network rises year on year
Eurozone consumers shifted habits after tariffs – ECB survey
More financially literate citizens stopped buying US goods, consumer expectations survey shows
People: Head of Bank of Mauritius to step down
Plus: Ethiopia appoints governor and EBA chair announces departure
Central banks on average intervened in FX markets 21 times in past year
Minority of respondents expanded access to swap lines
Central bankers’ compromised immunity
Just how much legal protection should officials have from spurious lawsuits or wrongful dismissal?
Esma needs dose of BoE agility, says official
Clearing house supervisor Giusto points to central bank's consultation on Emir as example of nimbler approach
Majority of reserve management strategies unchanged by US tariffs
Some central banks have changed duration or currencies, but for most, business remains as usual
Stablecoins pose bigger risks to US than to EU – de Guindos
ECB vice-president also expresses hope that “populist movements in Europe do not prevail”
Securities lending banks engage external managers for new assets
Allocation to third parties rises year on year to 15.6% on average
Political turmoil rattles Turkish lira carry trade
Echoes of March crackdown that sparked market rout leave traders on alert
Non-dollar stablecoins could spur greenback’s decline – BdF deputy
Central banks should embrace, not oppose, financial innovation, Bénassy-Quéré argues
Competitiveness, not regs, led to Poland’s RTGS upgrade – expert
Central bank aims to maintain payments “edge” with ISO 20022-compatible Sorbnet 3 system
Investment remains largest tranche of most FX reserves
Asset-screening central banks more likely to operate other tranches
Smaller reserve holders rarely lend securities or conduct stress tests
CVAR remains widely used risk management technique
Liquidity impairment harms policy transmission – BIS paper
Authors say QE may be more potent in times of market stress
Reserve managers typically do not employ negative screening
Central banks with short-term import coverage more likely to utilise tool
European Central Bank holds rates
Staff’s new projections look “similar” to those published in June, Lagarde says
SNB to publish minutes of policy meetings in transparency push
Summaries of discussions will put Swiss central bank in line with its global peers