European Union (EU)
Rates cannot blunt trade coercion, Krugman tells ECB conference
Nobel laureate says EU’s fix for external shocks lies in industrial, not monetary, policy
Europe’s growth obstacles are of ‘our own making’, Elderson says
ECB board member warns diverging national interests may hurt continent’s future
ECB funds biodiversity loss – NGO report
Reclaim Finance urges central bank to stop purchasing bonds issued by fossil fuel firms
Higher global yields complicate ECB’s position, Nagel says
Bundesbank president says inflation too high, and backs eurozone-wide debt earmarked for defence
EU foreign ministers renew prospect of Russian asset seizure
Letter acknowledges solution cannot place undue financial risks on any member state
Hungary cuts rates as inflation hits lowest level in nearly a decade
Monetary policy council votes to reduce base rate to 5.5%, extending easing cycle
Europe’s main asset in digital race is its size, says Lagarde
ECB president says domestic barriers must be lifted so start-ups can drive innovation
Merchants in the cash system
As policy-makers seek to protect cash acceptance and increasingly look to retailers to facilitate access to cash, Martina Horakova argues that merchants need adequate cash services themselves – and that providing cash to the public should not come at…
CFTC uses emergency powers to overturn prediction market ban
Temporary US-wide ban would make financial instruments “waste away”, chairman says
National Bank of Romania holds rates amid political instability
Board votes to keep policy rate at 6.5%, extending two-year hold
‘Hybrid’ regimes more exposed to sanctions – BdF study
Measures more likely to succeed against authoritarian states with an element of democratisation
Bank of Russia confirms new crypto regime
Law forms part of de-dollarisation and alternative payments push as Moscow seeks new ways to evade sanctions
‘Tips clone’ developed by Bank of Italy goes live in Balkans
Bosnia and Herzegovina and Montenegro become first jurisdictions connected by payments system
Tajikistan keeps inflation on target after lowering band
Central bank reports 4.1% price growth in H1, 50bp higher than in first half of last year
Jasmina Selimović on managing Europe’s last currency board
The Central Bank of Bosnia and Herzegovina governor speaks about building resilience to counter geoeconomic shocks, strengthening reforms amid EU convergence, addressing stablecoin and NBFI risks, Sepa integration, and capacity building.
US regulators throw banks a curveball on committed credit lines
New Basel III charge on undrawn facilities will hit largest banks in areas like fund finance and credit cards
Floored: Basel III rethink upsets IRB dominance
Introduction of output floor means internal ratings’ popularity takes a hit, but isn’t quite out for the count
ECB tells banks to plan for AI-related collapse in cyber defences
European Systemic Risk Board warns response times have narrowed from days to minutes
More data does not mean better outcomes – EBA policy expert
EU’s previous credit risk approach created ‘crazy backlog of model validations’, official says
Mervyn King on his career and big ‘mistakes’
The former BoE governor speaks with Christopher Jeffery about the value of transparency, lessons from the GFC, the need to track broad money and tie short-term funding to haircut collateral, and danger presented by non-banks
With agentic AI, where does the regulatory buck stop?
Supervisors on panel discuss best ways to prevent emerging tech from posing systemic risks