Eurozone
EU legal officer says Latvian government wrongly barred governor
Authorities provided no evidence to back claims governor acted corruptly, advocate general says
Draghi warns of downside risks as ECB ends net asset purchases
ECB will continue buying sovereign bonds with yields below deposit rate
ECB has made ‘little use of macro-pru powers’, senior official says
Eurozone authorities lack powers to deal with diffuse sovereign risk or shadow banks – ECB official
ECB paper examines banks’ responses to unconventional policy
Weaker banks’ sheets reduce credit supply in response to conventional policy shocks, paper finds
EU stress tests should follow US example – EBA chairman
Enria says EU process is too slow and opaque compared to US approach
ECB paper looks at large database on inflation expectations
Expectations more powerful when lower bound on nominal rates is binding, researchers find
ECB prepares to supervise largest Bulgarian banks
Move comes as Bulgarian government attempts to join single currency
Immigrants smooth eurozone labour market shocks – Bank of Italy paper
Non-EU immigrants have higher mobility than Europeans moving between countries – researchers
ECB nominates Enria as next head of banking supervisor
Italian candidate likely to be accepted as next head of SSM
The EU tries to rethink its faltering AML regime
The European Union plans to centralise its anti-money laundering efforts following a series of scandals this year. Dan Hardie looks at the options available and the multitude of challenges that remain
Hurdles remain for euro as international reserve currency
Dollar’s incumbency, institutional deficiencies and rise of the renminbi hamper the euro’s progress
SRB should publish banks’ MREL requirements – EBA’s Enria
But market abuse rules need amending to avoid SRB disclosing confidential resolution actions
ECB board weighs external risks in policy meeting
Risks in growth outlook “broadly balanced”, ECB reports
Eurozone fiscal rules have major pro-cyclical effects – DNB paper
Researchers say strengthening fiscal buffers may modify stability pact’s effects
Draghi’s ‘whatever it takes’ cut bank risk-taking – BIS paper
Study examines Mexican markets to pick out effects of the ECB president’s intervention
Cash still reigns in euro area
Large number of countries still use cash for high-value payments, but national disparities remain
EC’s Cyprus ‘failure’ undermined Eurozone central bank independence – Demetriades
Barroso’s decision not to take legal action against Cyprus for undermining the independence of the central bank damaged the ECB’s authority and emboldened others, claims former CBC governor
Demetriades says EU-level AML enforcement vital to tackle ‘security risk’
Centralised and credible AML enforcement body needed to complete banking union and protect EU security, says former Eurosystem governor
Demetriades on political pressures on central banks and their governors
Former governor of the Central Bank of Cyprus speaks about the Cypriot banking crisis, the need for EU-wide AML oversight, independence and his fears for stability of the monetary union
People: Lagarde rules out transition to top EU jobs
IMF chief dismisses rumours linking her to upcoming changes in EU leadership positions; Bundesbank appoints executive board members; Thailand picks board member
ESM’s Pacciani says public bodies must balance risk and mission
Public institutions must meet their mandates without losing sight of sound risk management, the chief risk officer says
Weidmann urges Greece to implement further reforms
Deutsche Bundesbank president recommends additional reforms and “sound” fiscal policy
ECB unveils guidelines for hiring ‘ethical hackers’
“Tiber-EU” framework designed to help financial institutions toughen cyber defences
Banque de France paper analyses sovereign debt crisis
High NPL and sovereign debt holdings affected banks’ interbank funding access, paper finds