Ricardo's threads | Nothing contributes so much to the prosperity and happiness of a country as high profits

ECB perception of non-banks: a machine learning-based approach

11/02/2026 European Central Bank Central banks

This paper studies the European Central Bank’s (ECB) perception of non-bank financial intermediaries (NBFIs) and how this perception is publicly communicated. We construct a perception index based on ECB speeches over the period 1998–2025. Sentiment in references to non-banks is classified by a large language model that we fine-tune on our own hand-labeled dataset constructed for this purpose. The resulting index reveals a predominantly negative and declining perception over time, particularly since the Global Financial Crisis.

ECB perception of non-banks: a machine learning-based approach

11/02/2026 European Central Bank Central banks

This paper studies the European Central Bank’s (ECB) perception of non-bank financial intermediaries (NBFIs) and how this perception is publicly communicated. We construct a perception index based on ECB speeches over the period 1998–2025. Sentiment in references to non-banks is classified by a large language model that we fine-tune on our own hand-labeled dataset constructed for this purpose. The resulting index reveals a predominantly negative and declining perception over time, particularly since the Global Financial Crisis.

Serbia shuts down bank favoured by Russians

11/02/2026 Financial Times UK

Alta Bank suspected of wiring large amounts of money out of the country after ex-president Aleksandar Vučić’s election loss

Constantly on edge at work? It could be anticipatory stress

11/02/2026 The Conversation UK

Prostock-studio/ShutterstockIn Nosferatu (1922), one of cinema’s most haunting images arrives before the vampire himself: his shadow. Something is approaching, but we don’t know exactly what it is, or what will happen when it arrives. The fear lies in the anticipation.

Manufacturing remains in expansion despite October slowdown

11/02/2026 Macropolis European Union

The Manufacturing PMI dropped in October, landing at 53.3 points, down from 54.0 in the previous month, S&P Global data showed on Monday.

Piraeus Bank reports solid profits of 890 mln in 9M

11/02/2026 Macropolis European Union

Piraeus Bank posted a net profit of 890 million euros in 9M this year, from 815 million euros in 9M 2025.

Alpha Bank profitability stays strong in 9M with 8.4% YoY rise

11/02/2026 Macropolis European Union

Alpha Bank reported a net profit of 766.1 million euros in 9M, compared to a profit of 706.7 million euros in 9M 2025, a rise of almost 8.4 percent.

Eurobank reports solid rise in profitability of 12.4% YoY in 9M

11/02/2026 Macropolis European Union

Eurobank posted a net profit of 1.16 billion euros in 9M 2026, from 1.03 billion euros a year earlier, up by 12.4 percent year-on-year (YoY).

Mitsotakis prepares ND for long campaign after retreat from NPL legislation

11/02/2026 Macropolis European Union

Kyriakos Mitsotakis is effectively launching this Monday New Democracy's long march towards the next general election, seeking to place both his government and party organisation on a war footing while there is still ample time remaining in the parliamentary term.

Monetary policy in times of high public debt

11/02/2026 European Central Bank Central banks

High public debt around the globe has revived concerns that it could impede central banks’ ability to control inflation. This article explains how public debt affects the work of central banks. They can still control inflation, but they must take public debt into account when setting rates, because debt affects the level of interest rates consistent with price stability.

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