European Central Bank (ECB)
ECB approves business continuity standards at payment infrastructures
Systemically important payment systems get a "pass" mark but are asked to focus on crisis communication
EU bailout vehicle nets top credit rating
European Financial Stability Facility secures triple A rating
ECB’s González-Páramo highlights flaws in collateral framework
European Central Bank executive board member José Manuel González-Páramo acknowledges risks in central bank’s willingness to accept broad range of collateral
Axa IM to lend funds secured by ABS
The essential ABS
Basel Committee defends adjustments to Basel III as calibration decisions loom
Regulators describe difficulties ahead as they prepare for Basel III calibration and transition decisions in September
Bank funding blow from ECB repo withdrawal
As the European Central Bank winds down its repo facility, there are fears that traditional avenues of securitisation issuance are still not viable.
Spanish banks tap ECB for record €130bn in funding
Increased borrowing reflects fears on country's banking sector.
Spanish bank borrowing from ECB continues to balloon
Spanish banks continue to depend on European Central Bank after stress tests exposed capital shortfalls
Solvency II poses bigger danger to economic stability than bank refinancing
Refinancing risk dwarfed by Solvency II’s impact on insurer appetite for corporate debt
Surviving the liquidity squeeze
Excess liquidity in the euro funding markets halved at the beginning of July, causing Eonia to leap higher. The extent of the move surprised traders and caused problems for some participants. Christopher Whittall reports
ECB closes in on inferior collateral with new haircut scheme
European Central Bank’s new discount schedule increases haircuts levied on troublesome collateral, such as asset-backed securities; analysts expect move to discourage pledging of risky assets
ECB may extend full allocation tenders into 2011
Any withdrawal of liquidity by the ECB at year-end would cause major uncertainty, say bankers
ECB insists stress tests are credible
ECB denies claims stress test scenarios were not severe enough
Eurozone has two years to agree fiscal union – DB Advisors
The viability of the Eurozone project continues to weigh on fixed income market, says chief investment officer of DB Advisors.
Economic concerns keep credit trading activity flat
Normal service appears to be a long way from resuming in credit, as macroeconomic uncertainty continues to grip the financial markets.
German economy under pressure from bank losses and euro crisis
Bond investors have snapped up German Bunds in recent weeks, with Europe’s sovereign debt crisis triggering a flight to quality. But is Germany really the safe haven it appears? Credit explores potential vulnerabilities in the German economy and assesses…
ECB pins hope on new rescue measures to save Eurozone
The commencement of the ECB’s government bond purchase programme and the announcement of an EU loan facility for struggling peripheral countries resulted in an immediate tightening of spreads. Yet uncertainty remains as to whether beneficiaries will be…
Heightened event risk as ECB excess liquidity shrinks
Dealers eagerly watch European Central Bank tenders as new maintenance period is set to begin
EBF expansion of Euribor set to increase euro benchmarks gap
Changes are planned to a key euro rates benchmark - and it could have a number of knock-on effects.
UBS creates reverse convertible index to beat deposit returns
UBS index meets demand from German retail investors for regular income that beats the European Central Bank's base rate.
Watch funding gaps, BIS warns Europe
European banks still have significant dollar funding gaps, leaving them vulnerable to foreign exchange shifts
German economic strength 'a fallacy': Charles Dumas interview
The Lombard Street Research chairman tells Credit the German economy is far weaker than has been supposed.
ECB warns of carry trade and deficit risks
Yield curve traders and crowding out remain major threats to European finances, the ECB said in its financial stability report yesterday.