Válogatás a nemzetközi intézmények és külföldi jegybankok publikációiból (2020.12.10-16.)

NEMZETKÖZI SZEMELVÉNYEK

Válogatás a nemzetközi intézmények és külföldi jegybankok publikációiból

2020. december 10. - december 16.

	TARTALOMJEGYZÉK
1.	MONETÁRIS POLITIKA, INFLÁCIÓ ...................................................................................................	3
2.	PÉNZÜGYI STABILITÁS, PÉNZÜGYI PIACOK ....................................................................................	4
3.	MIKROPRUDENCIÁLIS FELÜGYELET ÉS SZABÁLYOZÁS...................................................................	7
4.	FINTECH, KRIPTOVALUTÁK, MESTERSÉGES INTELLIGENCIA ........................................................	11
5.	ZÖLD PÉNZÜGYEK, FENNTARTHATÓ FEJLŐDÉS............................................................................	13
6.	PÉNZFORGALOM, FIZETÉSI RENDSZEREK .....................................................................................	14
7.	MAKROGAZDASÁG .......................................................................................................................	14
8.	ÁLTALÁNOS GAZDASÁGPOLITIKA.................................................................................................	15
9.	KÖLTSÉGVETÉSI POLITIKA, ADÓZÁS .............................................................................................	18
10.	SZANÁLÁS......................................................................................................................................	19
11.	STATISZTIKA ..................................................................................................................................	20

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1. MONETÁRIS POLITIKA, INFLÁCIÓ

The importance of trust for the ECB's monetary policy	ECB
https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201216_1~9caf7588cd.en.html	Speech
Speech by Isabel Schnabel, Member of the Executive Board of the ECB, as part of the seminar series
"Havarie Europa. Zur Pathogenese europäischer Gegenwarten" at the Hamburg Institute for Social
Research (Hamburger Institut für Sozialforschung), 16 December 2020
Related slides:
https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201216_1_slides~6a4d4852dd.en.pdf?
841135faa7be71576f99fe284616790d
The resilience of the euro	ECB
https://www.ecb.europa.eu/press/key/date/2020/html/esb.sp201215~70e721ba43.en.pdf?37fadf96f	Speech
9937c465033fac347d971d7
Presentation by Philip R. Lane, Member of the Executive Board of the ECB, at the ECB legal colloquium
on Post-Pandemic Economic Governance, 15 December 2020
A commitment to the recovery	ECB
https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201214~f98082db90.en.html	Speech
Speech by Fabio Panetta, Member of the Executive Board of the ECB, at the Rome Investment Forum
2020, Rome, 14 December 2020
Introductory statement to the press conference (with Q&A)	ECB
https://www.ecb.europa.eu/press/pressconf/2020/html/ecb.is201210~9b8e5f3cdd.en.html	Speech
Speech by Christine Lagarde, President of the ECB, Luis de Guindos, Vice-President of the ECB, Frankfurt
am Main, 10 December 2020
Monetary policy in a changing world	BIS
https://www.bis.org/review/r201210a.htm	Central Bankers'
Speech by Mr Stefan Ingves, Governor of the Sveriges Riksbank, at Business Arena Stockholm,	Speech
12 December 2020.
Globalisation and monetary policy	BIS
https://www.bis.org/review/r201211c.htm	Central Bankers'
Welcome address by Mr Luigi Federico Signorini, Deputy Governor of the Bank of Italy, at the CEPR	Speech
International Macroeconomics and Finance (IMF) Programme Meeting Webinar, 10-11 December 2020.
Consolidated financial statement of the Eurosystem as at 11 December 2020, 15/12/2020	ECB
https://www.ecb.europa.eu/press/pr/wfs/2020/html/ecb.fst201215.en.html	Press Release
Commentary:
https://www.ecb.europa.eu/press/pr/wfs/2020/html/ecb.fs201215.en.html
Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates),	ECB
11/12/2020	Press Release
https://www.ecb.europa.eu/press/govcdec/otherdec/2020/html/ecb.gc201211~ef1f417b08.en.html
ECB prolongs support via targeted lending operations for banks that lend to the real economy,	ECB
10/12/2020	Press Release
https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.pr201210_1~e8e95af01c.en.html
ECB extends pandemic emergency longer-term refinancing operations, 10/12/2020	ECB
https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.pr201210~8acfa5026f.en.html	Press Release

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ECB monetary policy decisions, 10/12/2020	ECB
https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.mp201210~8c2778b843.en.html	Press Release
European Central Bank: Frank Elderson appointed member of the executive board, 10/12/2020	EU
https://www.consilium.europa.eu/en/press/press-releases/2020/12/10/european-central-bank-	Press Release
frank-elderson-appointed-member-of-the-executive-board/
What to Do When Low-for-Long Interest Rates are Lower and for Longer, 14/12/2020	IMF
https://blogs.imf.org/2020/12/14/what-to-do-when-low-for-long-interest-rates-are-lower-and-for-	Blog Post
longer/
Blog post by Tobias Adrian (Financial Counsellor and Director of the Monetary and Capital Markets
Department of the IMF)
Weigh(t)ing the basket: aggregate and component-based inflation forecasts for the euro area,	ECB
14/12/2020	Publication
https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2501~8797484f4b.en.pdf?586e1a92fcfae4e5e71
5732faf65ad0c
The authors compare direct forecasts of HICP and HICP excluding energy and food in the euro area and
five member countries to aggregated forecasts of their main components from large Bayesian VARs
with a shared set of predictors. They focus on conditional point and density forecasts, in line with
forecasting practices at many policy institutions. Their main findings are that point forecasts perform
similarly using both approaches, whereas directly forecasting aggregate indices tends to yield better
density forecasts. In the aftermath of the Great Financial Crisis, relative forecasting performance was
typically only affected temporarily. Inflation forecasts made by Eurosystem/ECB staff perform similarly
or slightly better than those from our models for the euro area.
Keywords: aggregation; inflation forecasting; Bayesian VAR model.

2. PÉNZÜGYI STABILITÁS, PÉNZÜGYI PIACOK

Financial stability and too-big-to-fail after the Covid-19 pandemic	BIS
https://www.bis.org/review/r201216c.htm	Central Bankers'
Opening address by Prof Claudia Buch, Vice-President of the Deutsche Bundesbank, at the TBTF	Speech
webinar, Adam Smith Business School, University of Glasgow Commercial Law Centre, University of
Edinburgh, virtual, 16 December 2020.
French financial institutions faced with the crisis	BIS
https://www.bis.org/review/r201210i.htm	Central Bankers'
Speech by Mr François Villeroy de Galhau, Governor of the Bank of France and Chairman of the Autorité	Speech
de contrôle prudentiel et de resolution (ACPR), at the virtual ACPR Day, 27 November 2020.
4th Joint Regional Financing Arrangements Research Seminar discusses financial sector	EU
post-COVID-19,16/12/2020	Press Release
https://www.esm.europa.eu/press-releases/4th-joint-regional-financing-arrangements-research-
seminar-discusses-financial-sector
Glaciers of Global Finance: The Currency Composition of Central Banks' Reserve Holdings, 16/12/2020	IMF
https://blogs.imf.org/2020/12/16/glaciers-of-global-finance-the-currency-composition-of-central-	Blog Post
banks-reserve-holdings/
Blog post by Alina Iancu (Deputy Unit Chief in the Strategy, Policy and Review Department of the IMF),
Neil Meads (Senior Economist in the Strategy, Policy and Review Department of the IMF), Martin

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