Eurozone
Policymakers need wider range of systemic risk models – paper
Researchers attempt to combine systemic importance and systemic risk approaches
ECB approves major financial infrastructure programmes
ECB plans for Target2 and T2S to merge, plus new collateral management system for Eurosystem
European Commission proposes creating a European Monetary Fund
The new EU institution would replace the European Stability Mechanism in 2019
Portuguese finance minister named new head of Eurogroup
ESM manager praises Mário Centeno as a “passionate economist”
Stronger growth improves financial conditions in Europe – ECB review
Manufacturing activity and consumer sentiment bolsters growth across the region
ECB and 14 European central banks commit to forex code of conduct
Bank of England and rest of the European Union central banks set to follow suit in early 2018
European recovery may be stronger than previously thought
If the great recession and sovereign debt crisis are considered a single shock, “recovery is in line with – or better than – historical patterns”
Some eurozone banks must reform audits – ECB supervisor
Boards do not always pay enough attention to audits, says Pentti Hakkarainen
IMF’s Lipton urges eurozone to speed up banking union
First deputy managing director says Europe should capitalise on support for euro and ensure uniform capital market regulation is in place
Weidmann says ECB should have set time for end to asset purchases
Current policy risks blurring line between fiscal and monetary policy, Bundesbank president says
ECB to reduce monthly asset purchases to €30 billion
Central bank extends QE by nine months until September 2018, and keeps rates unchanged
ECB taper unlikely to upset major European equity investors
Norway’s sovereign wealth fund is boosted by its €200 billion investment in European stocks
Nouy: Europe’s bankers need courage for cross-border mergers
Bankers have “turned inwards” in the face of difficulties, says ECB supervisor
EBA and US agencies agree framework for cross-border resolution
Document lays out principles for information sharing and future crisis management agreements
ECB develops new overnight benchmark rate
The new rate will complement the existing overnight benchmark, Eonia
Irish governor calls for fiscal prudence
The government’s debt target may need to be revised, argues Lane
Big banks’ share prices more sensitive to rate moves – paper
Lower capital ratios diminish exposure to changes in the yield curve, says research
ECB cautions Slovenia over ‘critical infrastructure’ draft law
Legislation should not encroach on the central bank’s regulation of payments systems, says ECB
German court refers ECB bond purchases to ECJ
“Doubtful” whether PSPP is authorised by German and European law, says court
Credit spreads’ limited use as short-term predictors – paper
Researcher examines the accuracy of three sets of credit spreads
ECB and ESRB present database on European financial crises
New database will be key tool for macro-prudential authorities
IMF gloom on US and UK balanced by brighter spots elsewhere
IMF raises projections for China, Japan and eurozone as the UK and US falter; maintains global growth forecasts at 3.5% in 2017
Too early to tell if eurozone NPL reforms are sufficient – ECB
Changes to legal systems are “not keeping pace” with new laws
EC approves state aid for two Italian banks
Small regional banks will receive about €5 billion, having avoided resolution