Europe
Eurozone needs major resolution reforms, Enria says
ECB supervisor says policy-makers should create new tools to deal with medium-sized banks
BdF paper looks at French law on climate disclosures
Law led to sharp cut in French firms’ holdings of fossil fuel-related instruments, research finds
ECB says new data highlights stabilising effect of inflation expectations
Analysts argue that new approach to analysing surveys has “important practical advantages”
People: Rolle gets second governor term at Central Bank of Bahamas
Bahamas governor get second five-year term; new director-general for information systems appointed at ECB; Central Bank of Namibia recruits banking operations head, and more
Firms and households form inflation expectations very differently – paper
Confidence in economy has strongly divergent effects, Central Bank of Ireland research finds
Furlough schemes may conceal slack in EU labour market – ECB research
The longer the pandemic continues, the more job reallocation will be needed, authors say
BoE officials welcome stronger post-Brexit regulatory powers
Andrew Bailey says UK must not become a “rule-taker” on financial services
Hernández de Cos encourages banks to use capital buffers
Basel Committee chair says it is “only a matter of time” before losses become apparent
ECB outlines changes to forecasting during Covid
High-frequency data, GDP-at-risk, changes to use of PMI and stringency index all useful, authors say
Tourism acts as Covid-19 amplifier in the eurozone
Shock is increasing fragmentation risks in the region due to its uneven effect across countries
Hernández de Cos says yield curve control ‘worth exploring’
ECB could target differential between OIS curve and riskier sovereign yields
People: San Francisco Fed appoints strategy and people officer
Dallas and San Francisco Feds appoint officials; new ECB comms chief takes up role; Bank of Greece adviser to head up payments network
The role of Tips for the future payments landscape
Tips could support euro CBDC plus cross-border payments in many currencies
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor and Basel Committee chair Pablo Hernández de Cos favours a form of average inflation targeting, says ECB is willing to boost stimulus and Basel reforms not diminished by Covid-19 exceptions; stresses the need for structural reform and…
2020: The year in review
The past 12 months have been marked by crisis-fighting and losses, but also innovation
Paper tracks changing rhetoric of Bank of Italy governors
Governors have changed the focus of their concluding remarks over time, as well as the length of their speeches
People: T&T governor has term extended
Hilaire will stay at T&T central bank until 2023; Sri Lanka promotes two assistant governors to deputy posts; Australia appoints new assistant governor; CNB official joins Esma board
What does 2021 hold for the ECB?
Former officials reflect on AIT, how the strategy review may affect normalisation, QE options and the need for new tools
BoE’s inflation target may hamper response to no-deal Brexit – IMF
Report urges BoE to bolster market communication in the event no deal is reached
EBA sets out methods for AML risk assessments
Reports can be triggered by concerns over authorities’ anti-money laundering frameworks
Size matters for central bank research publishing
Staff numbers have strongest association with central banks’ research output
ECB establishes tough conditions for banks to resume dividends
Dividends must remain below 15% of cumulative profits in 2019-20 and not higher than 0.2% of CET1 ratio
Economists earn more than number-crunchers at central banks
On average, statisticians take home 88% of what economists earn
Loans to SMEs should have lower capital requirements – BdF paper
More SME lending boosts banks’ portfolio diversity and decreases systemic risk exposure, paper finds