Euro
Cross-border credit slips back into contraction
Latest BIS statistics show rebound of cross-border claims was temporary; China bucks trend with rapid growth of inward credit
Carney warns against splitting London’s euro clearing
Europe would suffer more than the UK if euro clearing moves to the EU post-Brexit, Bank of England governor says
EBA and US agencies agree framework for cross-border resolution
Document lays out principles for information sharing and future crisis management agreements
Constâncio discusses possible changes to new ECB model
Modelling of aggregate consumption and expectations must improve - ECB vice-president
Czech exchange rate floor helped fight deflation – IMF paper
Range of methods imply the exchange rate floor was an effective measure, having been employed after hitting the zero lower bound
Banks fear uneven playing field on NSFR
Asian jurisdictions are likely to implement the key liquidity metric before the US and Europe
Riksbank: housing market is a ‘serious threat’ to stability
Swedish central bank welcomes amortisation proposals, but says further measures may be needed
ECB cautions Slovenia over ‘critical infrastructure’ draft law
Legislation should not encroach on the central bank’s regulation of payments systems, says ECB
ECB council worries about euro’s strength, though recovery continues
Minutes of July’s monetary policy meeting suggest low inflation warrants loose policy, but recovery is gathering momentum
Archive – EMU: a sceptical US view
Allan Meltzer of the American Economic Association explains why he is worried about a union by the back door; first published in November 1997
Swedish inflation above target, but tightening unlikely
The Scandinavian economy recorded a 4% year-on-year expansion in the second quarter of 2017, but a strong krona and the ECB’s loose policy stance make an immediate rate rise difficult
Higher CPI unlikely to change Danish loose monetary policy
Consumer prices rise in July at the highest rate since December 2012 on food prices and package holidays, but analysts expect it to fall again over the coming months
Belgium’s mint to close in 2018
Coin production will be outsourced to save money, given decline in production, losing no jobs in the process, Mint official says
ECB and ESRB present database on European financial crises
New database will be key tool for macro-prudential authorities
Weaker franc gives SNB newfound leeway
The central bank may be able to slow or halt its massive foreign exchange acquisitions as the Swiss franc hits its lowest level against the euro since January 2015
BoE’s Broadbent: globalisation has been largely a good thing
Bank of England deputy says flexible labour market has helped dull the pain of adjustment to trade shocks, while lower prices have most benefited the poorest groups
Any London forex trading move would be ‘gradual’ – ECB
City’s place in global submarine cable network is likely to be key, researcher says
Wholesale funding ‘dry-ups’ driven by bank quality, ESRB paper argues
Researchers use data on certificate of deposit market between 2008 and 2014
US dealers wade into European CCP relocation debate
CFTC hearing warns of increased margining costs and a pre-Brexit client onboarding crunch
Exogenous constraints affected asset purchase programme, Irish paper says
Research letter looks at impact of extended scheme
French regulator lays out plan to capture London euro clearing
AMF calls for equivalence to be scrapped for biggest CCPs and trade repositories
Reserve managers see politics shaping currency allocations
European political uncertainty weakens confidence in euro, with sterling pressured by Brexit; dollar’s popularity resurgent, despite Trump’s economic policies
Book notes: Architects of the Euro, edited by Kenneth Dyson and Ivo Maes
This biographical study of the 10 key players in the development of the Economic and Monetary Union provides a contrast to more historical analyses
ECB set for €50 note launch
The European Central Bank is to launch the fourth banknote in the new Europa series on April 4; the new note will retain design elements from previous series, but will feature revamped security features