Friday, March 27, 2015 - 12:18 SSM Nouy: Scope Single Resolution Fund Will Suffice 0
--Reiterates view that Greece's banks remain solvent
FRANKFURT (MNI) - European Central Bank Supervisory Board Chairperson Daniele Nouy said Friday that she is confident the intended E55 billion size of the Single Resolution Fund will be sufficient.
"The size of the single resolution fund will be enough," Nouy said during a panel discussion at the Bundesbank's Conference on Debt and Financial Stability.
Only in "really, really tough crises" might limits be hit, but even in those cases new bail-in rules mean that cost for taxpayers should remain more contained than in the previous crisis.
Nouy called for a quick implementation of...
Friday, March 27, 2015 - 11:32 EURO WEEK AHEAD: Inflation, Jobs Data Highlight Easter Week 0
By Martin Baccardax
LONDON (MNI) - European investors will look to key economic data on jobs and inflation to confirm the strength of the region's recovery in an Easter holiday shortened week dominated by consumer price data and the ongoing debt crisis in Greece.
Good Friday observances around much of Europe will truncate the trading week to four days as we head into April, and the calendar of European Central Bank speakers is thin as a result, but there is still enough economic data to spark and active session in the region's financial markets.
Germany opens proceedings Monday with March inflation data, starting with state readings in the morning and ending with a federal "flash" estimate at 14:00 CET.
Friday, March 27, 2015 - 10:44 Phil Fed: Models Show Pol Shld Be Less Accommdtve Starting Q2 0
--Warns Fed Could Get Behind the Curve vs Inflation
--But Models Only 'Suggestive' Not 'Optimal;' Risks May be Asymmetric
WASHINGTON (MNI) - U.S.
Friday, March 27, 2015 - 10:32 NY Fed Survey Suggests Slightly More Credit Demand,Mostly Refi 0
--Rejections of Credit Card Limit Hikes Decrease
WASHINGTON (MNI) - The New York Fed survey taken three times a year Friday gave a faint signal of stronger credit demand, particularly for mortgage refinancing, but its overall finding appeared to be the continuing lack of enthusiasm to plunge back into heavier debt.
The most striking illustration in the report appeared to be the bar graph that showed a nearly imperceptible change in the rate of credit applications and the proportions that were accepted, rejected and discouraged going back to late 2013.
In a post on the Bank's Liberty Street blog, the report was characterized as showing "little...
Friday, March 27, 2015 - 06:51 Broadbent: No ECB Competitive Devaluation; No BOE FX Strategy 0
By David Robinson
LONDON (MNI) - Bank of England Deputy Governor Ben Broadbent said the BOE does not have a sterling exchange rate strategy and he rejected the widespread view that central banks are currently engaging in competitive devaluations.
Following a speech at Imperial College Business School, Broadbent was asked about the BOE's strategy towards the currency given its strength and the decline in other currencies on the back of monetary easing. He said the BOE just looks at the impact of sterling moves on growth and inflation.
"There is no strategy ...
Friday, March 27, 2015 - 06:30 Fed Vice Fischer: US Regulators Not Yet 'Tamed' Nonbank Sector 0
--More Work Needed on Short-Term Wholesale Funding, Hedge Funds, Derivatives
WASHINGTON (MNI) - While progress has been made in regulating the non-banking financial sector since the 2008 crisis, Federal Reserve Board Vice Chair Stanley Fischer said Friday more work needs to be done to stay ahead of further changes.
"Many reforms have been adopted for both banks and nonbank financial institutions," Fischer said in remarks prepared for the Deutsche Bundesbank Conference on Debt and Financial Stability in Frankfurt.
"But regulation is a cat and mouse game," he said.