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Foto zeigt Claudia M. Buch (c) EUROFORUM DEUTSCHLAND SE / Foto Vogt GmbH

Banking union: credibility of monetary policy must not be jeopardised

In a speech at a banking conference, the Deputy President of the Bundesbank, Claudia Buch, has called for further institutional changes to be made to the European banking union. Monetary policy decisions must not, she said, be influenced by banking supervisory considerations.


Dr Andreas Dombret © Horst Rumpenhorst / Bundesbank

"Risk is still a factor at banks"

Bundesbank Executive Board Member Andreas Dombret has called for more progress to be made in the field of banking regulation. In an interview with the Handelsblatt newspaper, he said: "I am not yet fully satisfied with how this 'too-big-to-fail' problem is being dealt with at the international level." A lot of "small steps" had been taken, but the "great leap" was still missing, he added.


Professor Hélène Rey and Dr Andreas Dombret at the award ceremony of the Carl Menger Prize © Verein für Socialpolitik

Hélène Rey awarded the Carl Menger Prize

Economist Hélène Rey becomes the first recipient of the Carl Menger Prize for Economics. Bundesbank Executive Board member Andreas Dombret presented her with the award, which carries prize money of €20,000.


Picture shows a meeting of the Governing council of the ECB

ECB Governing Council agrees on further monetary policy easing

The ECB Governing Council resolved on 4 September to lower the main refinancing rate in the euro area to a historic low of 0.05%. Furthermore, the Eurosystem will launch an ABS purchase programme (ABSPP) and a covered bond purchase programme (CBPP3), the detailed modalities of which will not be announced until October, however.


 The picture shows a colorful carousel in front of blue sky

How voting rights rotate on the ECB Governing Council

The accession of Lithuania as the euro area’s 19th member state as from the beginning of 2015 will trigger a new voting procedure, in which the voting rights of the national central bank (NCB) governors at ECB Governing Council meetings will rotate. This is designed to ensure that decisions can still be taken efficiently in future, too.


Skyline Frankfurt am Main

Banks strengthening their capital positions

Germany’s banks are gearing up for the future capital regime by strengthening their capital positions. That is the outcome of the latest Basel III monitoring exercise, according to which Germany’s largest banks would still need, in absolute terms, a further €2.5 billion in CET 1 capital in order to meet the new standards, which will be binding from 2019 onwards.


Photo shows Emanuel Mönch

Emanuel Mönch appointed Head of the Deutsche Bundesbank's Research Centre

Emanuel Mönch will be taking over as Head of the Deutsche Bundesbank Research Centre from 1 February 2015.  He holds a doctorate in economics and will be the successor to Heinz Herrmann, who is retiring at the start of next year.


Dr. Jens Weidmann

"France must set a good example"

In an interview with the French daily newspaper Le Monde, Bundesbank President Jens Weidmann called on France to capitalise on its leading role in Europe and set a good example in budgetary matters. It is important for a reinvigorated France to play its part as one half of the Franco-German engine of Europe, said Weidmann.


Arbeiter mit Werkzeug

Economic outlook deteriorates

According to the Bundesbank’s assessment in its August Monthly Report, the outlook for the German economy has deteriorated, though its underlying tendency remains positive. This deterioration is, not least, a result of the geopolitical tensions caused by the Ukraine conflict, which are depressing business sentiment.