European Union (EU)
BoJ’s Himino: Stablecoins strengthen dollar privilege
Deputy governor calls for ‘holistic’ system involving stablecoins, CBDCs, tokenisation and cash
Case for euro stablecoins ‘weaker than it appears’, says Lagarde
ECB president says settlement in tokenised markets must be anchored in central bank money
UK needs closer EU ties in multipolar world – BoE’s Bailey
Governor urges greater support for multilateral institutions to solve growing global imbalances
Cash needed for resilience, say eurozone central banks
Institutions from Austria, Germany and Spain outline why hard currency remains key
NBFI oversight ‘no longer adequate’, say BdF economists
Researchers call for stronger supervision of non-bank sector ‘before risks actually materialise’
Lane says Blanchard’s Eurobond proposal is ‘feasible’
ECB’s chief economist calls for expanded supply of euro-denominated safe assets
US policies eroding dollar’s position, say Knot and Obstfeld
Euro and yuan unlikely to supplant greenback, but ‘more multipolar’ system could arise
EU needs integration, innovation and Eurobonds – panel
Schnabel, Blanchard, Spain’s finance minister and Citadel MD discuss bloc’s future
EU-US relations ‘broken in a deep way’ by Trump 2.0 – Blanchard
Economist says 27-strong bloc must not take sides with Beijing or Washington
Regulators must be as tech savvy as the scammers – panel
Officials say fraudsters’ use of AI means central banks will need a more agile approach to supervision
Book notes: Can Europe survive? By David Marsh
Marsh poses important questions and cannot be blamed for failing to produce a roadmap to continental salvation
Olli Rehn on demographics, geopolitics and ECB policy
The Bank of Finland governor speaks about immigration and productivity, private credit and stablecoin risks, the mood on the governing council and the impact of conflict in the Middle East
Exporters to US paying only 5% of Trump’s tariffs – ECB research
Data shows stateside consumers bearing brunt of costs from levies on imports
For collateral, can TINA become TIA?
US Treasuries’ dominance as collateral in repo and derivatives is no longer set in stone, argues economist
Geopolitics becoming ‘key risk’ for central banks – panel
Experts at ECB conference say political upheaval now a greater concern than price growth
Interest rate crosswinds buffet IRRBB teams
Political intervention and rapid-fire law changes are skewering bank models for forecasting cashflows
NBU tells banks to avoid Hungary after cash and gold heist
Hungarian government official explicitly ties asset seizure to dispute over stricken oil pipeline
Bank of Russia sues EU in Luxembourg over asset freeze
Legal battle between Moscow and Brussels continues as bank reserves stay immobilised
DNB implements ‘geopolitical resilience programme’ for banks
Chair of supervision says Dutch central bank must be able to perform core tasks in ‘extreme scenarios’
QT ‘crucial’ if ECB is to tackle future crises, says Nagel
Bundesbank president says dollarisation by way of stablecoins could weaken European sovereignty
Repeat of past mistakes fuels risk of new crisis
Jesper Berg and Hans Geeroms argue that bank lobbying has succeeded in securing a dangerous softening of rules