Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder
Greece’s employment balance in September turned positive as there were 19,727 more hirings than departures, from a negative balance of 9,875 in August, according to data from the Labour Ministry’s Ergani information system.
Within the context of its Fiscal Monitor, the International Monetary Fund released its latest fiscal estimates for Greece, taking a traditionally more conservative view on the country’s public finances.
Policy rates in advanced economies are unusually low. What effect does this have on bank stability? I identify two competing effects. On the one hand, low rates harm bank profits by squeezing interest margins. On the other hand, they boost the value of long-term assets held by banks. Using a standard banking model, I determine the policy rate level at which these two forces cancel each other out, i.e. the tipping point. Past this tipping point, the net effect of low rates on bank capital is negative.
FTSE Russell, MSCI and S&P indices account for more than 80% of passive European equity assets
Refunds proposed for clients who have not initiated legal claims, and perhaps for those who drop them
The Japanese economy has experienced a prolonged slowdown in growth and persistent declines in the real interest rate, while at the same time the country’s labour force has been rapidly ageing. This column explores a novel causal link between the ageing labour force and the low-frequency declining trend in the real interest rate since the 1970s, and suggests that the ageing of the labour force accounts for 40% or more of the declines in the real interest rate observed between the 1980s and 2000s in Japan.
In July, the ECB issued its first Strategic Review since 2003. The latest CfM-CEPR survey investigates one component of the announced policy shift: the new definition of price stability. Most members of the panel of experts on the European economy support the ECB explicitly allowing inflation to exceed its target for extended periods to make up for below-target inflation in the past. This 60% majority has divided views on the optimal alternative policies, with the largest share supporting average inflation targeting and some members supporting nominal GDP targeting or hybrid policies.
A sale of consumer health division gives under-fire management cash to play with
Just one dollar bond sold since heavily indebted company’s missed payment shook markets