Europe
How EU supervisors react to interest rate risk outliers
Banks have faced no automatic penalties for breaching new NII test, but do come under microscope
France faces ‘gradual suffocation’ by debt, BdF governor says
Villeroy de Galhau finds notion of being under IMF tutelage 'insulting'
Policy impact widely gauged by macro and market indicators
Policy-making frameworks commonly reviewed on ad hoc basis
ECB does not have rule-making power – Elderson
Binding decisions are based on existing regulations and not supervisory expectations, board member says
San Marino blocks bank sale, looks to quell instability
Central bank says financial system is “solid and resilient”
Quarter of central banks have government reps on MPC
Only one such committee publishes policy-makers’ votes
Half of central banks offer no forward guidance
MPCs that meet at above-average frequency less likely to observe blackout period
MPCs with more frequent meetings tend to be more transparent
Just under three-tenths of central banks publish current level of r-star
ECB and BoJ officials reject explicit forward guidance
Central bankers promote ‘meeting-by-meeting’ approach to rates setting
Geopolitics and supply shocks top monetary policy risks outlook
Risk factors vary by nominal anchors and geographical regions
Lagarde calls for EU-wide clean energy strategy
Integrated capital markets to finance affordable and sustainable sources of power, ECB president says
Committees of exchange rate targeting central banks meet most often
Inflation targeters have the average highest number of committee members
EBA chief urges global action on multi-issuance stablecoins
Reserves backing currency should move “seamlessly” across borders to enable fungibility, says Campa
ECB staff union sues central bank over gag orders
Union alleges that ECB leadership sought to block representative from speaking
AI, low productivity, and trade in focus at G30
Georgieva, Bailey and Lagarde speak on stretched AI evaluations and distortionary trade policies
Let risks stay in non-bank sector, says EU official
Regulators and experts discuss solutions to financial activities migrating outside banking system
Targeted liquidity facilities decline year on year
Lending to small businesses and other goals are top criteria for access
EBA’s Campa on simplifying EU regulations and supervising stablecoins
The departing pan-European supervision chief speaks about advancing the banking union, streamlining the implantation of new rules, financial resilience and why he is stepping down early
BoE paper offers methods for policy-making under uncertainty
Forecast-based, news-based and rules-based methods can be used together, authors say
Top officials weigh impact of trade war and AI
ECB president says impact of US tariffs has been “exact opposite” of expectations
Central banks’ asset purchase programmes thin out further
One in five inflation targeters still use scheme, but most plan to taper purchases
Stability before competitiveness, say supervisors
ECB’s Donnery and BIS’s Restoy discuss merits of imposing secondary mandate on growth
Most monetary policy units sufficiently resourced
Macroeconomic analysis and research duties are officials’ top functions