Page 2 - European Central Bank

ECB warns of financial stability risks in euro area, warns of recession

Should the outlook deteriorate further, an increase in the frequency of corporate defaults cannot be excluded, particularly among energy-intensive companies

Technical recession has become more likely, says European Central Bank

The European Central Bank sees an increased likelihood of a recession in the 19 countries that use the euro currency, warning that soaring energy prices and high inflation fed by Russia's war in Ukraine have raised risks for bank losses and turmoil on financial markets. People and firms are already feeling the impact of rising inflation and the slowdown in economic activity, ECB Vice President Luis de Guindos said. As the bank released its twice-yearly assessment of eurozone financial stability on Wednesday, de Guindos said that "risks to financial stability have increased, while a technical recession in the euro area has become more likely. A chart published with the report indicated an 80 per cent chance of recession in the eurozone and United Kingdom in the year ahead and a 60 per cent probability in the US. Many economists and the European Union's executive Commission have already predicted a technical recession for the last three months of year and the first part of next year

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ESMA logjam: EU regulator's move may disrupt bond, derivatives markets

Indian derivatives markets could see disruptions on EU regulator move

ESMA-Indian regulators logjam: European banks' loss may aid US peers

Foreign investors may switch to custodians backed by American banks for India exposure

European Central Bank pushes banks to speed up climate change work

The European Central Bank is warning that many of the financial institutions it oversees are moving too slowly to shield themselves and Europe's banking system from the impact of climate change, and it is setting new deadlines to meet those requirements. The ECB said some progress had been made but that a review of 186 banks published on Wednesday showed change was uneven and that the glass remains half full, top ECB official Frank Elderson said in a blog post on the central bank's website. The Frankfurt, Germany-based central bank for the 19 countries that use the euro currency set deadlines for banks to meet climate requirements by the end of 2024. The ECB, acting in its role as banking supervisor, is pushing banks to identify where they could face the risks of climate change and outline how they would take action. Banks are key to the European economy's functioning because most companies get the credit they need to operate from banks instead of from financial markets, the opposit

Credit Suisse hires 20 banks for $4 bn capital increase to restructure

Credit Suisse Group AG hired about 20 banks to help with a $4 billion capital increase that will help fund the extensive restructuring unveiled last week

ECB raises interest rates by 75 basis points to fight record inflation

With this, it has increased policy rate by 1.5 per cent, the highest in a decade

European stocks hover below five-week high ahead of expected ECB rate hike

But Asian markets benefited from speculation among investors that major central banks are considering slowing their aggressive interest hikes, given signs of an economic slowdown

Sensex snaps seven-day winning run, falls 288 pts; Nifty50 ends at 17,656

Profit-booking comes to play, investors dump FMCG, pvt banking stocks

ECB's Knot urges 'significant' steps at next two policy meetings

"We need at least two" more "significant rate hikes," Knot said Monday at a financial-stability presentation in Amsterdam. He doesn't expect QT to start before 2023

ECB policymakers may put hike of 75 bps on table at October meeting

The ECB lifted interest rates by a combined 125 bps at its past two meetings, the fastest pace of policy tightening on record, but inflation may still be months from its peak

Every nation for itself as dollar batters global currencies after rate hike

While the problems in currency markets right now are in many ways reminiscent of the 1980s, the solutions are unlikely to be

EU seeks $140 bn from energy firms to insulate consumers from energy crisis

European gas and power prices have rocketed this year as Russia cut fuel exports to retaliate for Western sanctions over its invasion of Ukraine

Euro jumps to 3-week peak on hawkish ECB signals, weakening dollar

In addition, ECB policymakers see growing risks they will have to raise their key interest rate to 2% or more to curb record inflation in the euro zone

European shares, euro jump on Ukrainian advances in Kharkiv province

The news of Ukrainian advances also helped lift the euro, which extended last week's post European Central Bank (ECB) gains to rise to its highest against the dollar in almost four weeks

An $83 billion investor stampede shows scale of Europe's woes

Europe's woes have grown particularly acute in recent months as the region stares down the threat of a recession just as its central bank embarks on an aggressive campaign to tame inflation

Euro leaps parity on ECB to 3-week high, US stock futures eye higher open

The euro rose back above parity to a three-week high against the dollar on Friday following a large rate hike and hawkish comments from the European Central Bank

Dollar stabilises after steep climb, euro up by 0.52% on ECB rate hike

The dollar took a breather from its surging rally on Friday as markets digested yet more hawkish Fed speak, while the euro hung on to parity by an outsized rate hike from the European Central Bank

Stocks, bond yields rise after record ECB rate hike of 75 basis points

Global stocks and government bond yields rose on Thursday after the European Central Bank raised interest rates by a record 75 basis points