Europe
‘Do bank supervisors wear too many hats?’ asks BIS paper
Many countries require array of mandates beyond “safety and soundness”, authors say
Yield curve control not ECB’s ‘easiest way forward’ – Centeno
ECB board member Fabio Panetta calls for decisive action to reduce higher bond yields
Mário Centeno on monetary-fiscal interaction in the eurozone
Bank of Portugal governor says ECB is not being overrun by former finance ministers, must improve the definition of its inflation target and has no need for yield curve control. Centeno believes NextGenerationEU fund could serve as template for a future…
ECB pushes for greater crypto asset powers
Central bank suggests changes to afford it greater oversight of e-money issuers
Irish central bank to gain stronger anti-counterfeiting powers
Draft law makes Irish central bank national currency analysis centre and gives it enforcement role
Eurozone needs fiscal stimulus – ECB’s Schnabel
ECB board member says raising eurozone inflation needs fiscal evolution and structural reform
Corporate Services Benchmarks 2021 report – trends in financial reporting and administration
Insights on staffing and salaries, technological automation, data security, rule compliance, gender equality and green office spaces in accounting, audit, HR and administration
Paper presents real-time bank stress measurement tool
Bank of Italy paper can measure deposit flows using RTGS data, researcher says
ECB profit falls by 30% in 2020
Decrease is mainly due to lower Treasury yields reducing income on dollar portfolio
ESRB warns governments not to withdraw stimulus prematurely
New report highlights how support measures face trade-offs between cliff effects and debt sustainability
Green finance: new initiatives in China, Europe and Americas
Eurosystem adopts common investment principles; China pushes climate modelling; and more
BoE may diverge from EU on software as capital
PRA opens consultation after Bailey says there is no evidence software assets should count as capital
Paper finds little evidence of long-term scarring
Richmond Fed research finds short-term demand shocks rarely create hysteresis
Fed’s 2021 stress test includes major asset price shock
CCAR will evaluate 19 largest banks; scenario includes 55% fall in equity prices
French governor calls for ECB to make radical carbon shift
ECB is not sufficiently accounting for exposure to climate risk, says Villeroy de Galhau
People: BoE’s executive director to leave
Alex Brazier to leave BoE in September; ECB looks for senior climate official
Central banks look to shockproof models in wake of Covid-19
The Covid-19 crisis caused many central bank models to break down. Economists at the St Louis Fed, Bank of Spain and ECB were quick to innovate and say they will continue testing new tools
European supervisors unveil new rules to combat ‘greenwashing’
Authorities say the “significant” new rules should lead to better climate disclosures, but warn of flaws in the underlying legislation
CCP open access will be ‘integral’ part of Mifid review
EC official says politicians will need to decide whether to further delay open access
Eurosystem adopts common sustainable investment principles
Eurozone central banks aim for climate disclosures on non-monetary policy portfolios in two years
Eurozone inflation jumps to 0.9% in January
Analysts argue sharp increase was pushed by German tax increase and statistical changes
ECB extends non-eurozone euro swap lines
Credit facilities set up at start of Covid-19 crisis will now run until March 2022, ECB says
One-size-fits-all regulation won’t meet fintech challenge – FSI paper
Banks and big tech require specific approaches to ensure system stability, says Fernando Restoy
House price distortions slow European growth – Estonian paper
Misaligned prices amplify business cycles in short run but damage growth over long run – researchers