Category Archives: ECB

ECB

Where you can find me these days

Posted on June 13, 2019 by fmpdea

As expected, I have moved to fresher pastures. I have been the Economics Editor at sister publications NordSIP and Ekonamik since the beginning of January 2019 and want to invite you to check out our content. Both publications are focused … Continue reading →

Posted in A € for your Thoughts, Aides Memoire, Banking, Blog Maintenance, Brazil, China, Current Events, ECB, Economic Concepts, Euro-zone Update, European Integration, European Interdependences, European National Politics, Finance, History, Indicators, Inflation, Media Coverage, News Round up & Comment, Political Concepts, Risk Scenario Analysis, Sovereign debt Crisis, UK, USA, Visions of the Political Future of Europe, Week Ahead, Weekly Bond Yield developments in the Euro Area, World Affairs | Leave a comment

ECB Decisions: Deposit Facility rate, APP, Unequal Supply Growth & Oil

Posted on December 14, 2015 by fmpdea

The first week of December will probably be remembered as “that time the ECB thought rates weren’t negative enough and decided to drop them by another 15 bps “. However, the central bank did more than just lower the rates: … Continue reading →

Posted in ECB, Finance | Tagged ANSA, APP, CBPP3, ECB, fracking, Greece, Oil, OPEC, PPP, PSPP, QE, Supply growth | Leave a comment

ECB Report 2015Q2 – ECB Rates, Balance Sheet, QE & Tgt2 Balances Amid Greek Crisis

Posted on June 29, 2015 by fmpdea

For reasons discussed previously, this post presents and briefly discusses a number of variables pertaining to the activity of the ECB from its inception until now. Particular focus is put on the more recent events of the last quarter and … Continue reading →

Posted in ECB, Euro-zone Update, Uncategorized | Tagged ABSPP, Asset Backed Security Purchasing Programme, CBPP, Deposit Facility, ECB, ECB assets, ECB Balance Sheet, ECB liabilities, ECB QE, Marginal Lending Facility, MRO, PSPP, Public Sector Purchase Programme, QE in the Euro zone, QE in the Eurozone, SMP, Target2 | 1 Comment

3 Accounts of Euro-Zone Crisis Management

Posted on November 21, 2014 by fmpdea

If you are interested in EU integration and if you’ve been following the Euro-Zone crisis for the last 5 years, then last week would have definitely registered the publication of the following blog post by Peter Spiegel on the FT’s Brussels … Continue reading →

Posted in A € for your Thoughts, ECB, European History, European Integration, European National Politics, Finance, Media Coverage, Sovereign debt Crisis, Visions of the Political Future of Europe | Tagged Deauville, Debt haircut, Discord, Draghi, EFSF, Euro-Zone Crisis Management, European Leadership, France, Geithner, Germany, Greece, Ireland, Matt Persson, OMT, Peter Spiegel, Sovereign debt crisis negotiations, Tony Barber | Leave a comment

A note on the Feasibility ECB Quantitative Easing

Posted on April 8, 2014 by fmpdea

Recent comments from the ECB about potential attempts to mitigate a decrease in inflation through QE have led to an increased interest in the articles posted on this website about the SMP and the CBPP. However, such interventions were pursued for different … Continue reading →

Posted in Current Events, ECB, Euro-zone Update, Inflation, Sovereign debt Crisis | Tagged CBPP, Draghi, ECB, Euro-zone, Euro-zone divergence, Inflation, LTRO, OMT, QE, Quantitative Easing, SMP, Sterilisation of ECB OMOs, Target2 | 2 Comments

Why I think the ECB is not about to cut the MRO rate

Posted on May 1, 2013 by fmpdea

On Thursday May 2nd, the Governing Council of the ECB will hold is monthly meeting to determine the path of monetary policy. The market consensus seems to be that the ECB will cut the refi rate (MRO rate). I disagree. … Continue reading →

Posted in Banking, Current Events, ECB, Euro-zone Update, Finance, Media Coverage | Tagged Asmussen, Bank Lending Survey, Channel of Monetary Policy Transmission, Coeure, Constancio, Current Account at ECB, Deposit Facility, Draghi, ECB, ECB Balance Sheet, EONIA, GDP, Inflation, LTRO, M3, Marginal Lending Facility, Mersch, MRO, MRO rate cut, PMIs, Praet, refi rate cut, Target2, TARGET2 imbalances, Weidmann | 5 Comments

What Happened in 2012?

Posted on January 29, 2013 by fmpdea

This post takes a long overdue look at the monetary, financial, economic and political developments that took place during 2012 and the trends at the end of the year. It’s an exercise in taking stock and follows a relatively simple … Continue reading →

Posted in Aides Memoire, Banking, Current Events, ECB, Euro-zone Update, European Integration, European Interdependences, European National Politics, Finance, Indicators, Inflation, Sovereign debt Crisis, Uncategorized, USA, World Affairs | Tagged 2012, Balance of Payments 2012, Bank Lending Survey, Banking Union, BoE, BoJ, Bond markets, Bonds, Central banks balance sheet, Consumption 2012, Corporate Bond Bubble, Current Account Balance 2012, Deflation in Japan 2012, ECB, EU in 2012, Euro-zone in 2012, Europe in 2012, External balance of trade goods, External balance of trade services, External Trade Balance, Fed, Financial Account Balance 2012, Government debt, Government Expenditure, Holders of government bonds, Holders of government debt, Inflation 2012, Investment 2012, Japan in 2012, Lending to SMEs survey, Long Term Refinancing Operations, LTROs, Monetary base, Monetary supply, OMT, Outright Monetary Transactions, politics of Germany, politics of Greece, politics of Italy, politics of Portugal, politics of Spain, politics of UK, QE, Quantitative Easing, Sovereign Credit Ratings, UK in 2012, USA in 2012, Voter intention polls, What Happened in 2012, Where is the money going to?, Yearly Review | 1 Comment

The European Banking Union Negotiations – Supervision

Posted on December 9, 2012 by fmpdea

The banking union is a particularly important item in the long term reform agenda of the EU/Euro-Zone, and one that has often been neglected. In a crisis that is characterised by the linkages between public finances and the banking sectors, … Continue reading →

Posted in Banking, ECB, European Integration, European Interdependences, Finance, Inflation, Sovereign debt Crisis, Week Ahead | Tagged Banking Union, Denmark, ECB, European Bank Deposit Guarantee, European Bank Deposit Guarantee Scheme, European Banking debt resolution, European Banking Supervision, European Banking Union, European Banking Union Negotiations, Financial Stability, France, Germany, Landesbank, Landesbanken, Price Stability, Scope of supervision, Spain, Sweden, UK, Voting rights | Leave a comment

A Brief Review of the Eurosystem’s TARGET2 Imbalances

Posted on November 5, 2012 by fmpdea

This post is a long overdue look at the infamous TARGET2 (im)balances, which are yet another symptom of the ongoing malaise in the Euro-Zone. I do not claim to make any new contribution in this post, whose motivation was exclusively … Continue reading →

Posted in Aides Memoire, Banking, ECB, Economic Concepts, Finance, Indicators, Inflation | Tagged Accounting, Assets, Balance of Payments, Banking Union, Banks, Buiter, Capital Flight, Central Banks, Clearing, Core, Corporates, Current Account Deficits, Deposit Facility, Deposit Flight, ECB, ECB Longer Term Refinancing Operations, ECB's Main Refinancing Operations, Equity, Euro, Euro-zone, Euro-Zone Banking Union, Eurosystem, Foreign deposit flight, Former Soviet Union Republic, Former Soviet Union Republics, FSURs, Germany, Households, ISA, Koning, Liabilities, LTRO, MRO, OMTs, Outright Monetary Transactions, overdrafts, Periphery, Ruble-Zone, Seignioreage, Settlements, Sinn, SOMA, Spain, Target2, TARGET2 imbalances | 5 Comments

Euro-Zone Banking Union: Coverage and Pace of Implementation

Posted on September 19, 2012 by fmpdea

This post considers the present debate about the coverage of the Banking Union to be created in the Euro-Zone as well as the pace of its implementation. This coverage is contentious because it affects many established interests while attempting to … Continue reading →

Posted in Banking, ECB | Tagged Banking Union, Deutsche Bank, Different European Financial Systems, Differing European Banking Systems, Differing European Financial Systems, EAA, Euro-Zone Banking Union, European Banking Systems, European Commission, European Financial Systems, FMS Wertmanagement, Italian bonds, Landesbank, Landesbanken, Merkel, Monti, Moscovici, Panicos Demetriades, Schauble, Spanish bonds, Sparkassen, West LB | 1 Comment