SAFE Finance Blog

Ignazio Angeloni: The demise of Monte dei Paschi di Siena tolls a bell for EU, not just Italy

Amendments to the European resolution framework and new rules to enhance supervisory disclosure and cooperation for investment firms

New European sustainable finance strategy, introduction of a green bond standard and a carbon border tax, and the ECB’s latest monetary policy decisions

The European Central Bank recently communicated its new monetary policy strategy. The first strategic realignment since May 2003, however, disappoints expectations on several fronts

Different measuring methods and a lack of consensus of sustainability, social, and governance criteria could misallocate a huge amount of savings. Thus, it is necessary to train tomorrow's managers to deal with the risks and opportunities associated with ESG issues

Limiting climate-damaging emissions is important and right – but this objective is not readily achievable via the publicly promoted green finance approach

New rules for OTC derivatives, updated standards on own funds and eligible liabilities, and guidelines on the MiFID II/MiFIR obligations on market data

In March 2020, a “dash for cash” driven by the Covid-19 crisis affected the liquidity of the US Treasury bonds market. While liquidity also declined in euro area sovereign debt markets, this appears to be driven by a “dash for collateral” in euro-denominated safe assets

Updated rules to strengthen non-financial reporting framework and to facilitate sustainable investment

Thomas Huertas: The euro area crisis management and deposit insurance framework is currently more likely to trigger new crises than prevent them. That is why a reset is needed, and why a reset may be feasible

Detailed rules for central counterparties extending their businesses, new standards for prudential consolidation, and draft law on the oversight framework in Germany after Wirecard scandal

In several respects, the German financial sector is one of the victims of the increasing export orientation of the German economy