Germany
Ulrich Bindseil on the launch of the digital euro
The ECB’s director-general for market infrastructure and payments speaks about the functionality, tiering approaches, privacy policies, ledger technology and ecosystem impact of the eurozone's planned CBDC
The role of Tips for the future payments landscape
Tips could support euro CBDC plus cross-border payments in many currencies
Otmar Issing on the art of central bank communications
EMU architect speaks about Draghi’s “whatever it takes” intervention, forward guidance failures, the Fed’s average inflation target ‘miscommunication’, and why the ECB may be overreaching in its strategy review
German contactless payments rose due to Covid-19
Bundesbank board member says pandemic changed consumers’ use of debit card system
G+D and CPS are ‘most approved’ for banknote sorting
Just over half of survey sample endorses Munich-based manufacturer
EU sees huge appetite for new triple-A asset
‘Sure’ bonds offer the ECB a less controversial option for asset purchases
Investment fund sector needs stress tests – Bundesbank paper
Researchers say their model finds investment firms can magnify losses from global asset price shock
Influential Fed economist Thomas Laubach dies
Current and former Fed officials pay tribute to the US central bank’s German influencer, who died on September 2
ECB should scale back monetary stimulus after crisis – Weidmann
Knot says central bank should adopt symmetry in the implementation of PEPP purchases
US and German economies suffer largest quarterly contraction in decades
Official figures say second quarter saw biggest US GDP decline since the Great Depression
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
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
Coronavirus panic fuels a surge in cash demand
Covid-19 has led to banknote hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US, fuelled by concerns about financial system stress, write Jonathan Ashworth and Charles Goodhart
NGFS offers concrete next steps to assess climate vulnerabilities
New climate risk scenarios will be incorporated into Bank of England stress tests and Bundesbank economic modelling, write Sarah Breeden and Sabine Mauderer
Bafin says it did not supervise scandal-hit Wirecard
Official tells Central Banking he is “not aware” of any agency supervising firm implicated in fraud
German regulator faces questions after Wirecard admits huge possible fraud
Bafin brought criminal complaint against journalists who alleged wrongdoing at German company
Weidmann to testify quarterly in parliament to explain ECB policy
Measure follows constitutional court ruling requiring ECB to demonstrate proportionality of government bond purchases
Lagarde welcomes Franco-German fund plan
Covid-19 response fund would be drawn from common EU budget
The ECB, the lockdown and the monetary financing lock
The eurozone’s central bank may need to break its prohibition on monetary financing to fight the pandemic
German banks’ capital levels affect loan supply – Bundesbank paper
Authors find balance sheet data shows loan supply has positive elasticity to capital levels
German court leaves Bundesbank caught between two legal decisions
Ruling may hamper ECB’s new PEPP programme as it is not constrained by PSPP limits
German court rules ECB must provide more evidence on PSPP
Judges strongly criticise ECJ’s ruling on QE programme, but stop short of declaring it unlawful
Debts, deficits, central banks and inflation
Forrest Capie and Geoffrey Wood ask what insights history can provide for central banks and governments managing abrupt, large increases in debt
Individual German banks at risk from interbank shocks, paper finds
Bundesbank paper presents simulation method for analysing interbank markets