Speech
BoE’s Woods says Solvency II not a revolution
Executive director at the Bank of England examines historical changes in insurance regulation, concluding the introduction of Solvency II is in line with existing philosophy
ECB’s Cœuré: European Fiscal Board can play key role
The newly created European Fiscal Board, as well as independent fiscal councils in eurozone nations, can make ‘decisive contributions’ to policy, Benoît Cœuré says
BoE’s Bailey sets sights on balance sheet clarity
Clear disclosure of creditor hierarchies will be ‘critical’ moving forward, says Andrew Bailey; clarity in bank balance sheets is a ‘good thing’
Banque de France governor wants public reforms
France must cut its public debt and reform its labour market, says Francois Villeroy de Galhau; the governor also calls for new investment products
Weidmann says clearer liability would strengthen eurozone
Bundesbank chief says important element of fixing the eurozone’s ills is reinstating the ‘principle of liability’, instead of resorting to bailouts
BoE’s Weale sees shorter working week adding to inflation
Various measures suggest UK workers will gradually cut back on the number of hours they work over the next few years, adding to unit labour costs, external MPC member says
French governor weighs up ‘disruptive effects’ in card payments market
François Villeroy de Galhau discusses ‘main trends’ influencing card payments market, including ‘new solutions, new behaviours and players, new regulations’
ECB's Mersch considers hurdles to single payments area for cards
European payment card schemes and processors must address issues of standardisation, security and interoperability to create an effective single payments area, Yves Mersch says
New York Fed president keeping eye on expectations
William Dudley expects inflation expectations to increase if the economy keeps growing at an above-trend pace, but any deviation could be cause for concern
ECB's Cœuré wants ‘corrective arm’ of EU tool used ‘forcefully’
European Central Bank executive board member stresses importance of sustainable rebalancing in the eurozone; wants to see potential of macroeconomic imbalance procedure realised
Europe needs ‘consistent’ policy on solvency issues, Lautenschläger argues
Decisions needed on whether the SSM has competence in solvency issues currently dealt with at national level, Lautenschläger argues; calls for reform to ‘routine’ decisions process
SNB’s Zurbrügg lays out considerations around interventions
Vice-chairman of governing board says there is no ‘one-size-fits-all’ method for deciding when or how to intervene in the foreign exchange market
Lockhart to watch inflation closely over the coming year
‘Mildly not wildly’: Atlanta Fed president remains optimistic for 2016 outlook, adding rate hikes not likely to occur at every meeting
Kaplan urges careful consideration of volatility
Federal Reserve Bank of Dallas president Robert Kaplan warns of the potential for further market volatility as normalisation continues
Mexico to ‘persevere’ in strengthening macroeconomic framework, bank deputy says
Deputy governor says effect of further normalisation in US policy ‘unclear’; Mexico to continue strengthening financial system
Risk that US public lowers inflation expectations, Chicago Fed president warns
The Federal Reserve’s undershooting of its inflation target in recent years may lower the inflation expectations of the American public, making future monetary policy harder, Evans warns
Market preoccupation with divergence likely means ‘more variability’, Poloz says
Canadian governor believes such variability to be a ‘natural reaction’ to shocks; flexible exchange rate allows for adjustment
Cleveland Fed president ‘fully supported’ rate hike
Loretta Mester expresses support for FOMC’s decision in December, but notes greater importance of policy path than date of lift-off for macroeconomic performance
Flug sets out long-term challenges facing Israeli economy
Increasing productivity growth and tackling issues related to poverty are two main challenges facing the government, central bank governor says
RBI is rebalancing shadow-banking regulation, Gandhi says
The central bank seeks to tighten regulation and move from entity- to activity-based rules, the deputy governor says
Rohde says resolution offers ‘genuine alternative’ to granting emergency liquidity
With the ability to recover or resolve firms in an orderly fashion, the National Bank of Denmark finds itself with an alternative to granting emergency liquidity assistance, governor says
Debelle highlights ‘rich potential’ in regulatory data
Regulatory reporting is still in its infancy, but already useful trends are starting to emerge, the RBA assistant governor says
Draghi calls for action on non-performing loans
Eurozone countries need wide-ranging reform of their systems for dealing with non-performing loans to stimulate the supply of capital to business, Mario Draghi says
Italian deputy governor warns on hurdles to capital markets union
The senior deputy governor of the Bank of Italy says capital markets union is necessary for the European economy but faces considerable obstacles