Europe
Lane stresses inflation will determine ECB’s PEPP purchases
Lower inflation outlook could mean the programme will remain longer than anticipated
ECB says pandemic measures have been effective
Response to Covid-19 pandemic lowered bond yields and may have stopped financial panic
Enria announces major change to ECB banking supervisor
SSM will have two new departments, and focus on banks’ business models, says Enria
ECB slows down PEPP purchases
Emergency asset buying fell to lowest level since programme was launched in April
ECB extends eurozone banks’ dividend payment pause
Enria says banks face “radical uncertainty” over pandemic’s economic impact
Lagarde hails EU fiscal-monetary co-ordination
Recovery fund will support economy from 2021, avoiding fiscal tightening once national stimulus lapses, stresses ECB president
IMF research highlights limits of exchange rate flexibility
New dataset sheds light on role of dominant-currency invoicing for exchange rate dynamics
Hungary’s central bank to start buying government securities
Central bank notes monetary policy has fallen short and cuts interest rates to a new low of 0.6%
EU recovery fund set to ease ECB’s burden
Common debt issuance likely to significantly reduce fragmentation risks, taming sovereign bond spreads, say analysts
Banque de France names CBDC partners
HSBC and Euroclear among firms chosen to take part in CBDC experiments that include improving cross-border payment infrastructure
ECB expands euro repo network
Albania and Serbia join Covid-19 liquidity backstop
Eurozone outlook is ‘highly uncertain’, says Lagarde
ECB maintains stimulus package unchanged as lower energy prices weaken inflation
The evolving role of central bank money in payments
The line between commercial and central bank money continues to blur, but the multiple-issuer/one-currency paradigm underpinning the current monetary system is set to remain in a CBDC world, write Ulrich Bindseil and Ignacio Terol
State guarantees helped prevent drop in business loans – ECB survey
But credit standards to households tightened further, as higher NPL ratios hamper credit provision
Banks used TLTRO to convert less liquid assets – ECB paper
Researchers say that broad collateral standards for first TLTRO series played important role
What makes for good financial supervision?
The Wirecard debacle has led to calls for more effective oversight in Europe. Andreas Dombret identifies four essential elements
Croatia and Bulgaria join ECB’s exchange rate mechanism
Both countries move closer to eurozone membership as largest Croatian banks come under SSM
Trust in big tech falters during pandemic – research
Netherlands Bank says trust in most public institutions has risen as banks step up during pandemic
European Ombudsman opens inquiry into BlackRock ESG advisory contract
Green lawmakers and NGOs say asset manager faces conflicts of interest, but firm rejects claims
People: CBSL gains board members; RBNZ forms new department
RBNZ fills two new payments roles; long-time Danish official retires from the central bank; ECB comms chief moves to private sector
Balancing data policies: what Covid-19 taught us
New rules are needed for data-sharing at a national and international level, write Theodoros Evgeniou, David Hardoon and Anton Ovchinnikov
Peter Praet on Europe’s Covid-19 responses
The former ECB chief economist talks about threats to financial stability, negative rates, common debt issuance and steps to improve the EMU
Eurozone inflation reached 0.3% in June
Eurostat estimates show significant differences in inflationary pressures between countries
ECB stresses capital requirements won’t hamper bank mergers
Central bank launches consultation on new guidelines on banking sector consolidation