Financial institutions

Filling the gap: the geographical allocation of euro area portfolio investment liabilities and related income

03/24/2025 European Central Bank Central banks

This paper presents the estimation method used to break down the euro area portfolio investment liabilities in the international investment position (i.i.p.) and their corresponding income debits in the balance of payments (b.o.p.), by main geographical counterpart. Identifying non-resident investors in euro area portfolio investment liabilities (i.e. equity and debt securities issued by euro area residents) is a complex task, as securities are regularly traded in secondary markets and held via custodians and other financial intermediaries.

Asset Purchase Facility: Gilt Sales – Market Notice 21 March 2025

03/21/2025 Bank of England Central banks

This Market Notice sets out the schedule for sales in Q2 2025 of gilts held in the Asset Purchase Facility (APF) for monetary policy purposes.

FEDS Paper: Beyond the Streetlight: Economic Measurement in the Division of Research and Statistics at the Federal Reserve

03/21/2025 Federal Reserve Central banks

Carol Corrado, Arthur Kennickell, and Tomaz CajnerThis paper was written for the academic conference held in celebration of the 100th anniversary of the Division of Research and Statistics (R&S) of the Federal Reserve Board. The work of the Federal Reserve turns strongly on empirical efforts to understand the structure and state of the economy, and R&S can be thought of as operating a large factory for discovering and developing data and analytical methods to provide evidence relevant to the mission of the Board.

Minutes of the London FXJSC Operations Sub-committee Meeting – 20 November 2024

03/21/2025 Bank of England Central banks

The Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC) Operations Sub-Committee. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators.

Minutes of the London FXJSC Main Committee Meeting – 27 November 2024

03/21/2025 Bank of England Central banks

The Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC), which is a forum for discussion of the wholesale foreign exchange market. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators.

Minutes of the London FXJSC Legal Sub-committee Meeting – 26 November 2024

03/21/2025 Bank of England Central banks

The Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC) Legal Sub-Committee. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators.

Bank Rate maintained at 4.5% - March 2025

03/20/2025 Bank of England Central banks

The Bank of England’s Monetary Policy Committee is responsible for making decisions about Bank Rate.

Using corporate earnings calls to forecast euro area labour demand

03/20/2025 European Central Bank Central banks

This box explores the use of corporate earnings calls as a novel, high-frequency source of data for nowcasting and forecasting labour demand in the euro area. Labour demand has started to show signs of cooling following its post-pandemic peak. By applying textual analysis to transcripts of earnings calls, we construct an indicator that correlates strongly with the euro area job vacancy rate. This metric enables us to produce timely forecasts ahead of official data releases. Utilising a mixed data sampling (MIDAS) regression approach, we use this indicator to forecast the job vacancy rate.

Liquidity conditions and monetary policy operations from 23 October 2024 to 4 February 2025

03/20/2025 European Central Bank Central banks

This box describes the Eurosystem liquidity conditions and monetary policy operations in the seventh and eighth reserve maintenance periods of 2024, from 23 October 2024 to 4 February 2025.

Insights from banks and firms on euro area credit conditions: a comparison based on ECB surveys

03/20/2025 European Central Bank Central banks

This box examines euro area credit conditions from the perspective of banks and firms. The analysis uses data from the bank lending survey and the survey on the access to finance of enterprises. By offering qualitative insights into credit supply and demand, these surveys complement hard data in analysing how monetary policy is transmitted to firms through banks. The respective survey findings confirm that the general economic outlook and firm-specific conditions are significant factors affecting credit standards and the availability of bank loans.

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