Financial and Fiscal Newsletter Archives - IREF Europe https://en.irefeurope.org/tag/financial-and-fiscal-newsletter/ Independent research and policy analysis on fiscal, monetary, and regulatory issues in Europe Sun, 23 Jan 2022 16:31:32 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.3 https://en.irefeurope.org/wp-content/uploads/sites/3/2026/04/IREF-LinkedIn-Profile-DarkBlue-scaled.png Financial and Fiscal Newsletter Archives - IREF Europe https://en.irefeurope.org/tag/financial-and-fiscal-newsletter/ 32 32 Banks in the US as well as Europe Push Back Against New Rules https://en.irefeurope.org/publications/iref-newsletter/article/banks-in-the-us-as-well-as-europe-push-back-against-new-rules/?utm_source=rss&utm_medium=rss&utm_campaign=banks-in-the-us-as-well-as-europe-push-back-against-new-rules https://en.irefeurope.org/publications/iref-newsletter/article/banks-in-the-us-as-well-as-europe-push-back-against-new-rules/#respond Fri, 19 May 2017 11:44:14 +0000 https://en.irefeurope.org/publications/iref-newsletter/banks-in-the-us-as-well-as-europe-push-back-against-new-rules/ Given the effort being invested into the banking turnaround story by the European authorities, and in particular the European Banking Authority, and the cohesive international supervisory effort being spearheaded by…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/banks-in-the-us-as-well-as-europe-push-back-against-new-rules/feed/ 0 Liborgate Re-Rears Its Ugly Head https://en.irefeurope.org/publications/iref-newsletter/article/liborgate-re-rears-its-ugly-head/?utm_source=rss&utm_medium=rss&utm_campaign=liborgate-re-rears-its-ugly-head https://en.irefeurope.org/publications/iref-newsletter/article/liborgate-re-rears-its-ugly-head/#respond Fri, 19 May 2017 11:11:21 +0000 https://en.irefeurope.org/publications/iref-newsletter/liborgate-re-rears-its-ugly-head/ Last month, we reported on compliance failures at very senior levels of the Bank of England, resulting in the resignation of Charlotte Hogg. There was another scandal, also involving the…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/liborgate-re-rears-its-ugly-head/feed/ 0 Accommodative Monetary Policy is Encroaching on Fiscal Policy https://en.irefeurope.org/publications/iref-newsletter/article/accommodative-monetary-policy-is-encroaching-on-fiscal-policy/?utm_source=rss&utm_medium=rss&utm_campaign=accommodative-monetary-policy-is-encroaching-on-fiscal-policy https://en.irefeurope.org/publications/iref-newsletter/article/accommodative-monetary-policy-is-encroaching-on-fiscal-policy/#respond Sun, 16 Apr 2017 17:56:53 +0000 https://en.irefeurope.org/publications/iref-newsletter/accommodative-monetary-policy-is-encroaching-on-fiscal-policy/ We believe that the ECB is presently using monetary policy in effect to conduct fiscal, as well as monetary policy. Elected politicians should be up in arms; that they are…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/accommodative-monetary-policy-is-encroaching-on-fiscal-policy/feed/ 0 Compliance Meltdown at the Bank of England https://en.irefeurope.org/publications/iref-newsletter/article/compliance-meltdown-at-the-bank-of-england/?utm_source=rss&utm_medium=rss&utm_campaign=compliance-meltdown-at-the-bank-of-england https://en.irefeurope.org/publications/iref-newsletter/article/compliance-meltdown-at-the-bank-of-england/#respond Sun, 16 Apr 2017 17:50:42 +0000 https://en.irefeurope.org/publications/iref-newsletter/compliance-meltdown-at-the-bank-of-england/ The Bank of England is the focus of two separate news items. Firstly, the BBC has apparently uncovered a videotape evidencing that the Bank strongly pressured commercial banks to falsify…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/compliance-meltdown-at-the-bank-of-england/feed/ 0 Unicredit’s Rights Issue – the figures don’t add up https://en.irefeurope.org/publications/iref-newsletter/article/unicredit-s-rights-issue-the-figures-don-t-add-up/?utm_source=rss&utm_medium=rss&utm_campaign=unicredit-s-rights-issue-the-figures-don-t-add-up https://en.irefeurope.org/publications/iref-newsletter/article/unicredit-s-rights-issue-the-figures-don-t-add-up/#respond Thu, 16 Mar 2017 18:37:01 +0000 https://en.irefeurope.org/publications/iref-newsletter/unicredit-s-rights-issue-the-figures-don-t-add-up/ Unicredit’s well-publicised rights issue was reported by the press as a resounding success. Underwritten by Morgan Stanley and UBS, the €13bn issue, priced at a 38% discount to the bank’s…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/unicredit-s-rights-issue-the-figures-don-t-add-up/feed/ 0 Supervision cannot save insolvent banks https://en.irefeurope.org/publications/iref-newsletter/article/supervision-cannot-save-insolvent-banks/?utm_source=rss&utm_medium=rss&utm_campaign=supervision-cannot-save-insolvent-banks https://en.irefeurope.org/publications/iref-newsletter/article/supervision-cannot-save-insolvent-banks/#respond Thu, 16 Mar 2017 18:18:42 +0000 https://en.irefeurope.org/publications/iref-newsletter/supervision-cannot-save-insolvent-banks/ Regulators Provide Misleading Reassurances as to Bank Solvency February 10th was the fourth anniversary of David Cameron’s “Bloomberg Speech” in which he promised an ‘in or out’ EU membership referendum…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/supervision-cannot-save-insolvent-banks/feed/ 0 Stress Tests don’t work https://en.irefeurope.org/publications/iref-newsletter/article/stress-tests-don-t-work/?utm_source=rss&utm_medium=rss&utm_campaign=stress-tests-don-t-work https://en.irefeurope.org/publications/iref-newsletter/article/stress-tests-don-t-work/#respond Mon, 13 Feb 2017 18:33:58 +0000 https://en.irefeurope.org/publications/iref-newsletter/stress-tests-don-t-work/ Criticisms of bank stress tests continue to mount, particularly as banks continue to struggle. A new problem recently emerged: the marked shortfall between the market capitalisation of most European banks…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/stress-tests-don-t-work/feed/ 0 Inflation To Rise – We expect UK, ECB and US Policy to Diverge https://en.irefeurope.org/publications/iref-newsletter/article/inflation-to-rise-we-expect-uk-ecb-and-us-policy-to-diverge/?utm_source=rss&utm_medium=rss&utm_campaign=inflation-to-rise-we-expect-uk-ecb-and-us-policy-to-diverge https://en.irefeurope.org/publications/iref-newsletter/article/inflation-to-rise-we-expect-uk-ecb-and-us-policy-to-diverge/#respond Mon, 13 Feb 2017 18:14:12 +0000 https://en.irefeurope.org/publications/iref-newsletter/inflation-to-rise-we-expect-uk-ecb-and-us-policy-to-diverge/ Purely for geopolitical reasons, namely frustration at the failure of the governments of individual member states to respond to repeated calls for “structural reforms”, your authors had taken the view…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/inflation-to-rise-we-expect-uk-ecb-and-us-policy-to-diverge/feed/ 0 January’17 Financial and Banking Features Newsletter https://en.irefeurope.org/publications/iref-newsletter/article/january-17-financial-and-banking-features-newsletter/?utm_source=rss&utm_medium=rss&utm_campaign=january-17-financial-and-banking-features-newsletter https://en.irefeurope.org/publications/iref-newsletter/article/january-17-financial-and-banking-features-newsletter/#respond Tue, 17 Jan 2017 10:33:52 +0000 https://en.irefeurope.org/publications/iref-newsletter/january-17-financial-and-banking-features-newsletter/ Central Banks Pray for Electoral “Shocks”. Forced to Nationalise Monte dei Paschi, Italy Looks in Trouble, but Cleverly Plays its Sicilian Defence. Central Banking How will Central Banks cope with…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/january-17-financial-and-banking-features-newsletter/feed/ 0 December’16 Financial and Banking Features Newsletter https://en.irefeurope.org/publications/iref-newsletter/article/december-16-financial-and-banking-features-newsletter/?utm_source=rss&utm_medium=rss&utm_campaign=december-16-financial-and-banking-features-newsletter https://en.irefeurope.org/publications/iref-newsletter/article/december-16-financial-and-banking-features-newsletter/#respond Sun, 11 Dec 2016 18:06:16 +0000 https://en.irefeurope.org/publications/iref-newsletter/december-16-financial-and-banking-features-newsletter/ The Eventual Impact of Rising Bond Yields. Further Cracks Appearing in the ‘Global Consensus’ of Bank Supervision. Central Banking Global Bond Market Yields are Rising The ECB’s recently announced 6…

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