Europe
Google data can underpin eurozone GDP nowcasts – Banque de France paper
Researchers say method is particularly useful when official data is unavailable
Draghi gives downbeat assessment of eurozone prospects
ECB stands ready to use “all instruments” to meet inflation target, Draghi says
ECB nominates Yves Mersch to supervisory board
Lautenschläger gains new responsibilities on governing council; Mersch must be approved by European Parliament and will retain legal portfolio
ESRB sets out first steps towards common macro-prudential stance
Problems exist with turning conceptual framework into operational tool, report concedes
Risk management worsened in 2018 at large EU banks – ECB
Supervisory review of EU banks shows fall in quality of governance, but no rise in funding risks
Irish central bank warns no-deal Brexit would harm growth
Central bank expects strong Irish growth if ‘disorderly Brexit’ is avoided, but inflation is still weak
Euro’s ‘heft’ has been underappreciated – BIS’s Borio
Several roles of the euro as an international currency are underappreciated, says Borio
The IFF China Report 2019: New globalisation – The path to the future
Multilateral rules and multilateral bodies will need to be upgraded in the coming years to better represent the shift in economic gravity towards Asia, which has emerged as the largest contributor to global growth during the past decade.
ESRB publishes scenario for CCP stress tests
Esma announces UK-based CCPs will still be covered in event of “no-deal Brexit” on April 12
Uncertainty demands pragmatic approach, French governor says
Villeroy de Galhau warns central bankers to avoid creating “additional doubts”
Eurozone macro-prudential policies have large cross-border effects – ECB paper
Impact especially strong when different countries have asymmetric financial cycles, researchers say
EU regulators warn on no-deal Brexit impact
Firms must make contingency plans, regulators say, as Brexit deadlock continues
People: New chief operating officer appointed at the Fed
Patrick McClanahan returns to US central bank to take up COO post; former Central Bank of Ireland chief dies; and more
ECB still short of 2019 gender targets
European Central Bank may restart recruitment processes if not enough women apply for roles, as it looks to meet ambitious targets by the end of the year
ECJ asked to rule on whether public bodies can reject cash
German high court asks European Court of Justice to rule on legal tender definition, which could allow public institutions to refuse cash payments
Eurozone governments must pursue fiscal expansion, Praet says
ECB chief economist says monetary policy cannot support recovery without support
ECB says Slovene draft law would harm central bank
Proposal is latest round in long-running political battle over bail-in of shareholders and creditors
Central banks must become more diverse – Carney
Improving diversity increases strength and reduces groupthink, BoE governor argues
Major EU banks would withstand economic storm – ECB research
ECB test says in profound crisis below 10% of banks would struggle to meet capital requirements
Europe needs cross-border banking reforms – Lautenschläger
Nations must reform ring-fencing before next crisis hits, says ECB supervisor
Draghi says ECB could further delay rate hike as inflation disappoints
Weaker growth forecast contributed to reduction in central bank inflation forecast to 1.6% in 2021
ECB rejects amendment from EU institutions on CCP regulation
Proposed changes would ‘distort’ ECB’s request for change, Draghi says
EU must prevent large firms dominating markets, Praet says
ECB chief economist warns market concentration may have serious macroeconomic effects
Brexit coin may have to be redesigned amid delay
The coin face is stamped with a message and the UK’s expected departure date