European Central Bank

Europe must do more on small business loans - ECB's Coeure

Thomson ReutersApril 25, 2013 03:15

FRANKFURT (Reuters) - European institutions should find ways to ease funding strains small euro zone companies, European Central Bank Executive Board member Benoit Coeure told an Austrian newspaper in an interview. Small- and medium-sized enterprises (SMEs) in some euro zone countries are struggling to get funding from banks, which are reluctant to take on further credit risk as they try to adapt to new regulatory standards for capital and liquidity levels.

ECB has room to act on rates - Constancio

Thomson ReutersApril 24, 2013 10:00

FRANKFURT (Reuters) - The European Central Bank has room to act on interest rates if economic conditions remain weak, ECB Vice President Vitor Constancio said on Wednesday. "We have done a lot," Constancio told the European Parliament in response to a question. "We certainly still have some margin of manoeuvre to take decisions, and as President Draghi said in the latest press conference we stand ready to act if economic conditions continue to provide bad news, as has unfortunately been the case."

ECB says no collateral shortage in euro zone

Thomson ReutersApril 24, 2013 09:30

FRANKFURT (Reuters) - There is no general shortage of securities that banks have to deposit at the European Central Bank when they borrow money from it, the central bank said on Wednesday. Some economists have expressed concerns that a shortage of collateral could have a negative effect on bank lending, but ECB policymakers have said in the past that tighter collateral conditions tend to exist only in parts of the bloc struggling most with the debt crisis.

European stocks extend gains on ECB rate cut talk

Agence France-PresseApril 24, 2013 07:31

Europe's main stock market extended gains Wednesday on growing expectations of an interest rate cut by the ECB following poor German economic data, analysts said. London's FTSE 100 index of leading companies edged up 0.02 percent to stand at 6,407.38 points in late morning deals, while Frankfurt's DAX 30 climbed 0.47 percent to 7,694.75 points and in Paris the CAC 40 rose 0.44 percent to 3,799.74.

Fading German confidence fuels ECB rate cut talk

Agence France-PresseApril 24, 2013 07:01

German business confidence took a tumble this month, according to data Wednesday, putting back on the table speculation of a possible interest rate cut by the European Central Bank, analysts said. The Ifo economic institute's closely watched business climate index fell to 104.4 points in April from 106.7 points in March. That was a bigger drop than the very slight decrease to 106.2 points that most analysts had been expecting.

Fading German confidence fuels ECB rate cut talk

Agence France-PresseApril 24, 2013 06:31

German business confidence took a tumble this month, according to data Wednesday, putting speculation of a possible interest rate cut by the European Central Bank back on the table, analysts said. The Ifo economic institute's closely watched business climate index fell to 104.4 points in April from 106.7 points in March. That was a bigger drop than expected: analysts had been pencilling in only a very slight decrease this month to 106.2 points.

ECB's Weidmann tempers rate cut expectations

Thomson ReutersApril 19, 2013 11:15

WASHINGTON (Reuters) - European Central Bank policymaker Jens Weidmann still views interest rates as appropriate, he said on Friday, adding that the economy would have to worsen before the ECB should consider another cut. Earlier this week the euro weakened after markets understood comments made by Weidmann, an arch-hawk on the ECB Governing Council, as an indication that he was open to cutting rates.

Schaeuble urges ECB to reduce euro zone liquidity

Thomson ReutersApril 19, 2013 09:30

BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble said the European Central Bank (ECB) should try to limit the amount of liquidity in the euro zone, although he also acknowledged the "precarious" economic plight of some countries in the region. "There is much money in the market, in my view too much money," Schaeuble said in an interview for the German economic weekly Wirtschaftswoche released on Friday.

Banks to repay ECB 10.9 billion euros of crisis loans

Thomson ReutersApril 19, 2013 06:45

FRANKFURT (Reuters) - Banks will return early 10.941 billion euros (9.32 billion pounds) of crisis loans to the European Central Bank next week, more than expected as worries of euro zone stability abate. ECB President Mario Draghi said earlier this month that the currency bloc was "now in a position to cope with serious crises without them becoming existential or systemic". He also stressed that the ECB would provide unlimited liquidity to banks for as long as needed.

ECB's Asmussen urges governments to press ahead with banking union

Thomson ReutersApril 19, 2013 04:00

FRANKFURT (Reuters) - Germany's representative on the European Central Bank's Executive Board urged governments on Friday to press ahead with Europe's planned banking union to strengthen the financial system and avert future crises. Joerg Asmussen's call comes after Germany, backed by allies like Austria, called for a change in the EU treaty to allow for the union, raising questions about how fast it can be implemented.