European Central Bank announces changes to simplify and harmonise collateral framework This move is part of the ECB’s ongoing efforts to phase out temporary crisis measures introduced after the global financial crisis.
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You are very welcome to submit your scientific papers for the SUERF - The European Money & Finance Forum - Oesterreichische Nationalbank conference on "The #Centralbank of the Future: Opportunities and Challenges"! Please note the #deadline 13 March 2024 is approaching! Fields of particular interest are: 1. #centralbanks as #risk managers during uncertain times 2. what monetry policy #instrument toolkit for the new normal - pros&cons as well as side effects of various design features? 3. Interactions between global structural changes and monetary policy - what are the challenges for monetary policy from global structural change, how might monetary policy itself influence structural change and adjustment paths?
🔊 Reminder Call for Papers: 51st Oesterreichische Nationalbank Annual Economic Conference in cooperation with SUERF - The European Money & Finance Forum: "The Central Bank of the Future: Opportunities and Challenges" 📅 Paper submission deadline: March 13, 2024 ▶ Call for Papers: https://lnkd.in/gx8WyC9h We welcome scientific theoretical and empirical papers which fit into one of the following themes: - #Centralbanks as risk managers during uncertain times - What instrument toolkit for the new normal? - Shaping the future: Global structural changes and #monetarypolicy
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🔊 Reminder Call for Papers: 51st Oesterreichische Nationalbank Annual Economic Conference in cooperation with SUERF - The European Money & Finance Forum: "The Central Bank of the Future: Opportunities and Challenges" 📅 Paper submission deadline: March 13, 2024 ▶ Call for Papers: https://lnkd.in/gx8WyC9h We welcome scientific theoretical and empirical papers which fit into one of the following themes: - #Centralbanks as risk managers during uncertain times - What instrument toolkit for the new normal? - Shaping the future: Global structural changes and #monetarypolicy
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The European Central Bank has published updated guidance on internal models. In addition to general topics, the Guide addresses credit risk, market risk and counterparty credit risk. At the same time, the document provides a guideline for banks to follow in order to be compliant with the ECB's requirements on internal models. There is also a small focus on climate and environmental risks. #ECB #Banking #Bank #Credit #Climate #Environmental
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Nature-related risk - legal implications for central banks, supervisors and financial institutions: A speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the ESCB Legal Conference 2024 discussed the risks that nature degradation poses to the economy and the financial sector. The speech further discussed nature related litigation and its impact on monetary policy. The speech can be read here: https://lnkd.in/dWQ8SRuC #climate #risk #monetarypolicy #ESG #sustainability
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Thank Maha Al-Saadi for sharing this IMF article on the role of central banks in addressing climate change. This analysis aligns well with OTS's current direction and reinforces the relevance of our existing roadmap. It's encouraging to see that our focus on the SVD (Simplify Validation Design) framework and ITMOs is in line with emerging trends in the financial sector. The article validates our ongoing initiatives: 1. Our adaptation of the SVD for central banks' climate data standardization needs 2. The integration of ITMOs and standardized metrics in our climate risk assessment tools 3. Our efforts to facilitate public-private collaboration through standardization It's reassuring to see that our current service development priorities are on track: - Continuous enhancement of the SVD framework - Refinement of our ITMO management approach - Advancement of new standards for sustainable finance This kind of external validation helps ensure we're moving in the right direction in climate data standardization and sustainable finance. Thank you for keeping us informed on these crucial market developments. Climate Action Center of Excellence (CACE) Alexandra Soezer Alexander Wiedmer Rasmal Ventures #SustainableFinance #Standardization #SVD #ITMOs
🌾(9 Sep) International Monetary Fund Central Banks and Climate Change: Key Legal Issues 🌍 Well-designed legal frameworks and institutional arrangements support the legitimacy of central banks’ autonomous decision-making when grounded on sound legal basis and can prevent over-stepping in the remit of other authorities. 🌿 The paper explores the key legal intersections of climate change and central banks. 🌡️ Climate change could impact price and financial stability, which are at the core of a central bank’s mandate. 🔥 While central banks’ legal frameworks can support climate change efforts, they also determine the boundaries of the measures they can adopt. ❄️ Central banks need to assess their mandate and authority under their current legal frameworks when considering measures to contribute to the global response to climate change, while taking actions to fulfill their legal mandates. https://lnkd.in/dQacdR6U
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Begins the Domino Effect - As the pressure increases on banks to report on their climate impact - consumers and SMEs will soon face increasing reporting requirements without any appeal process (or protection mechanism). The European Central Bank may impose unprecedented daily penalties on lenders that have failed to adequately identify their climate and environmental business risks as early as the end of this year. https://lnkd.in/eHtMECyd
Banks could face ECB daily penalties for climate failings by year-end
thebanker.com
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Climate change is one of the defining challenges for this century, and central banks are gradually understanding its implications in terms of risk and stability, and its challenges for central bank mandates and organisation. In "Central Banks and Climate Change: Key Legal Issues" Mario Tamez, @Hans Weenink, and @Akihiro Yoshihara, excellent jurists from the International Monetary Fund, have studied the matter with depth, clarity and equanimity, drawing on the IMF's vast experience with different legal frameworks. They confirm that there are certain actions (more focused on technical assessments, risk-based, etc.) that central banks can clearly adopt within their legal mandates, and others that expose them to legal and reputational risks. The conclusions are prudent, as the matter is controversial. On that count, the paper offers detailed, technical arguments, which are most welcome. I found the analysis of, e.g., the allocation of macroprudential competences, or the Institutional Arrangements precise and pertinent. This discussion should be based on precise technical arguments. For this reason, the paper is very welcome, and deserves wide reading. #climate change, #centralbanks https://lnkd.in/djXiYjj4
Central Banks and Climate Change: Key Legal Issues
imf.org
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Top supervisor Claudia Buch of the European Central Bank stated on Monday that banks operating in the euro zone should take geopolitical risks into consideration when determining how much capital to pay out and where to conduct business. "Geopolitical events ...transmit into increased credit, liquidity, market, and operational risks, for example by disrupting value chains or third-party service provision," Buch told lawmakers in Europe. Follow for more such content. Stay informed on the latest business news by visiting our website - https://buff.ly/3w3pENB #globalbusinessandfinancemagazine #businessnews #news #internationalnews #business #globalbusiness #globenews #newsupdates #todaysupdates #latestnews #globalupdates
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Risk events are economic data that can increase volatility across the financial markets. Central bank policy meetings and speeches also fall under the umbrella of risk events. Explore key risk events using the FP Markets Trading Central Economic Calendar. #FPMarkets #RiskEvents #TradingCentral #EconomicCalendar #trading #finance
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ECB-looking very silly… After 25 years of dreadful monetary policy that has significantly impacted European economies, the ECB is changing course again. And after the financial carnage they created but we paid for. Another flip-flop abandoning their much-touted data-driven approach for a “forward-looking” strategy. Why have ECB governors, including Ireland’s Gabriel Makhlouf, even in the last month, been preaching the primacy of data-driven decisions when they must have known this decision was coming? This sudden shift raises eyebrows. Central bank credibility comes from consistent, transparent guidance and decision-making, not from this sort of stuff. Yet these unelected officials remain largely unaccountable. It further erodes public trust in an institution badly in need of reform. Our politicians need to act
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