Europe
Eurozone unemployment hits 8.1% in August
Statistics agency warns figures could be underplaying pandemic’s economic impact
EBRD commits to 50% green investment policy
Three candidates from European finance ministries compete to become bank’s next president
ECB open to above-target inflation – Lagarde
President lays out strategy review goals, hinting approach could bring ECB closer to the Fed
ECB taking further steps to address gender imbalance - Isabel Schnabel
Efforts to foster greater inclusion of women help tackle “groupthink”, says board member
BoE welcomes temporary deal on post-Brexit clearing
‘Equivalence’ decision will avoid short-term cliff-edge for CCPs, as Brexit negotiations enter final stages
Reserve Benchmarks 2020 report – charting new data frontiers
Perspectives on staffing and salaries, reserve coverage, portfolio construction, benchmarking, use of external parties and risk management
Is there a rift in the ECB governing council?
Mixed messages from Christine Lagarde were followed by sharp divergence among board members
ECB to accept green bonds as collateral
Green asset purchases also possible subject to programme-specific criteria
One third of reserves staff work in front-office roles
Average reserve management team size is less than 30 employees
Deeper EU capital markets will improve risk sharing - BdF paper
Researchers present new methodology to estimate cross-border financial risk sharing in the EU
EU needs single anti-money laundering body, EBA says
EBA calls for EU to include investment and crypto-asset firms in scope of tougher AML/CFT laws
Bank of Spain paper warns over eurozone’s public debt
Individual eurozone countries likely to be more vulnerable due to recent debt increases, paper says
ECB changes largest eurozone banks’ leverage ratios
Latest emergency response to Covid-19 should raise banks’ leverage ratios by about 0.3%, ECB says
Lower-income countries generate highest reserves growth
Most reserves portfolios appear to have weathered the Covid-19 crisis well
Few central banks consider climate risk within benchmarks
Despite central banks supporting mandatory climate risk disclosures, very few account for it in their benchmarks
Netherlands nominates Frank Elderson to the ECB board
NGFS chair would replace Yves Mersch, whose term expires in December 2020
ECB has ‘no room for complacency’, Lane says
Chief economist stresses ECB is ready to expand stimulus after Lagarde appeared to downplay risks
ECB leaves policy unchanged
Lagarde says she will not comment on euro’s exchange rate against the dollar
Central Banking’s strategic changes for a new era
New institute, benchmarks, virtual training and online event weeks launched
Many Paris Agreement signatories do not use ESG screens
Most reserve managers fail to take environmental factors into account for FX portfolios
Bank investors still don’t think bail-in will happen, FSB told
Questions over bailing in bank bondholders mean problem of too big to fail persists, experts warn
Resolution colleges must update resilience plans – EBA
EU’s resolution colleges should review whether their plans are “credible and feasible”, report says
A fiscal alternative to stabilise the post-Covid economy
Columbia professor Michael Woodford calls on policy-makers to think beyond interest rates
Alternative funds play key role in spreading shocks – study
Spillovers rose dramatically during Covid-19 stresses, authors find