Germany
US deregulation may hinder adoption of Basel III – Dombret
Agreement has been reached on most German concerns, but the level of output floors is still key, says the Deutsche Bundesbank official
Loan-to-credit ratios affected stability of smaller German banks – paper
Bundesbank researchers look at data on “critical events” from 1995 to 2013
Future of Greek austerity divides IMF board
Some directors dissent from call to reduce mid-term primary surplus target
Spanish paper looks at eurozone inflation expectations
Pan-eurozone factors are more important than country-specific forces, paper says
Eurozone reform projects are not delivering, French governor says
“Investment crunch” is biggest problem, not savings glut, Villeroy de Galhau says
Some way to go for renminbi as reserve currency – Bundesbank's Thiele
Chinese investment markets should be opened up to foreign investors, Thiele says
Western ambassadors support independence of Ukrainian central bank as dispute continues
Diplomats line up behind Gontareva as the president’s attitude remains unclear
ECB’s economic bulletin paints mixed picture of eurozone investment
Business investment recovering overall but several factors may limit further growth, ECB says
Draghi and Mersch seek to calm German fears
The ECB’s task will be harder if Germans feel discriminated against, Mersch says; Draghi points to evidence that QE helped German savers
Bundesbank board member calls for ‘moderate’ consolidation of German banking sector
Dombret criticises German banks for low cost efficiency and outdated business models
Maskin: technocrats should set eurozone fiscal policy
Harvard economist argues a technocratic body similar to a central bank could set spending and revenue targets in eurozone before allowing politicians to determine the details
Draghi defends ECB policy to German lawmakers
Monetary policy not causing low profitability at some German banks, ECB president says; calls on policy-makers to initiate structural reforms
Major economies show clear credit price cycles, researchers say
Housing markets are a key influence on credit prices cycles in the US and major European economies, an ECB paper argues
Bundesbank places first representative in Africa
South Africa is “fertile ground” for investment, says Andreas Dombret; Jenny Kilp to be placed in Pretoria to help foster projects between Sarb and Bundesbank
CFTC charges Deutsche Bank with reporting code violations
US regulator files legal complaint against Deutsche Bank for swap reporting violations; complaint is latest blow to German giant’s US operations
Tajikistan objects to Basel Institute’s anti-money-laundering criticisms
The Basel Institute’s grading of Tajikistan as the third-worst money laundering jurisdiction in the world is based on an “absolutely incorrect analysis”, the country’s central bank says
All eyes on Italy as EBA prepares to release stress test results
Portuguese, Austrian and German banks may also be the possible subjects of market attention after tonight's publication
Bank of Italy paper aims to improve on EC current account model
Research offers a new model of external adjustment; the EC’s model tends to mis-state cyclically adjusted current account balances of large eurozone economies, researchers argue
Chinese law doubts holding back RMB internationalisation – paper
A Bank of Italy occasional paper plots the development of renminbi trading in Europe; future development may be characterised by rapid advances followed by slower periods, authors say
Short-sale disclosure rules can distort securities prices, Bundesbank paper says
European Union transparency conditions may have led to distortions in the prices of German securities by deterring short-sellers, discussion paper argues
Irish paper proposes three-phase model of volatility in bond markets
Irish paper finds ‘good’, ‘bad’ and ‘ugly’ phases in eurozone sovereign debt markets from 2003 to 2014; crisis not caused by changes to the shock mechanism, but by pre-existing cross-country links
German Constitutional Court rules in favour of ECB programme
Germany’s Federal Constitutional Court rules ECB may undertake outright monetary transactions, but sets strict conditions to be monitored by the German government
Dombret flags demographic concerns in Tokyo speech
Bundesbank board member draws parallel between Germany and Japan as he notes risks to potential growth rate; stresses need for “growth-enhancing measures”
Further key decisions loom in Greek negotiations
Major decisions remain in negotiations over bail-out; IMF staff insist on cuts to primary surplus target that have met with opposition; ECB may restore eligibility of Greek bonds as collateral