Latest news with #DeutscheBundesbank
Finextra
13 hours ago
- Business
- Finextra
Eurosystem launches single collateral management system
The Eurosystem successfully launched its new, unified Eurosystem Collateral Management System (ECMS) on 16 June 2025 after the migration to the new set-up was completed over the weekend of 13-15 June. 0 The ECMS thus becomes the fourth TARGET Service in operation, advancing the Eurosystem's vision for a unified, efficient and innovative European financial framework. The ECMS manages assets used as collateral in Eurosystem credit operations. Together with the other TARGET Services, the ECMS will ensure that cash, securities and collateral can flow freely across Europe. The software and the environment for the new system were delivered by the Deutsche Bundesbank, the Banco de España, the Banque de France and the Banca d'Italia - the four national central banks that act as service providers for TARGET Services (T2, TARGET2-Securities and TIPS). The successful launch of the ECMS reflects the joint efforts and commitment of all euro area central banks in supporting their market participants (counterparties, central securities depositories and triparty agents) throughout this project. Thanks to close cooperation and extensive activities such as testing and migration rehearsals, all parties have ensured that participants can fully leverage the benefits of the new platform from day one. With the ECMS going live, the Eurosystem now offers a single system that harmonises the management of collateral for Eurosystem credit operations. The ECMS replaces the individual national collateral management systems previously operated by the 20 euro area national central banks. Furthermore, the ECMS will facilitate the smooth flow of cash, securities and collateral within the euro area by enhancing the liquidity management features of the TARGET Services.
Bloomberg
23-04-2025
- Business
- Bloomberg
Bloomberg Surveillance TV: April 23, 2025
- Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI - Joachim Nagel, President at Deutsche Bundesbank - Torsten Slok, Chief Economist at Apollo Management - Dan Ives, Head Global Technology at Wedbush Securities Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI, offers his S&P 500 outlook amid further uncertainty about tariffs and corporate earnings. Joachim Nagel, President at Deutsche Bundesbank, joins from the IMF Spring Meetings to talk about the outlook for European and global economies as the US levies global tariffs. Torsten Slok, Chief Economist at Apollo Management, talks about the outlook for a US recession this year. Dan Ives, Head Global Technology at Wedbush Securities, breaks down Tesla earnings.
Yahoo
13-03-2025
- Business
- Yahoo
US tariffs could deepen Germany's recession, says bank
Tariffs on goods being imported into the US could tip Europe's largest economy into another recession, according to the president of Germany's central bank. Germany economy has contracted for the past two years and with tariffs, the country "could expect a recession for this year" too, Joachim Nagel, the head of the Deutsche Bundesbank, told the BBC World Service in an exclusive interview. Without tariffs, the bank forecasts the German economy will stagnate but still grow, by about 0.2%, he added. He said "there are only losers" when imposing tariffs, and supported the EU's retaliatory measures against US President Donald Trump's 25% tariff on all steel imports from overseas. Tariffs are a central part of Trump's overall economic vision - he hopes they will boost US manufacturing and protect jobs, but critics say in the immediate term they will raise prices for US consumers. In response to Trump's move, the EU has hit back with import taxes on a range of US products, which are set to come into force on 1 April. Mr Nagel called Trump's tariff policy "economics from the past" and "definitely not a good idea". A global trade war is one of the concerns from tariffs and retaliatory tariffs, he said, but added it was a "necessity" for the EU to react "because if something is working against you, you can't accept a policy like this". However, he suggested that when the US realises that the price that needs to be paid will be "highest on the side of the Americans", it will allow further opportunity for all sides to come to a different resolution. "I hope that in the end, good policy will succeed," he said. How will the latest Trump tariffs affect the UK? Trump halts plan for 50% steel and aluminium tariffs on Canada EU hits back at Trump tariffs and warns against trade war Germany's export economy had been one of its strengths in past decades, and its cars such as BMW, Mercedes, Volkswagens and Audis are popular in the US. Mr Nagel refuted claims that Germany was the "sick man of Europe", saying it had a "strong economic basis" and "strong small and medium sized companies". "But nevertheless, when you are exposed to an export-oriented model, then you are more exposed in a situation when tariffs are going up and there are so many uncertainties, so many unknowns," he added. He said Germany could overcome such challenges "over the next couple of years". However, German consumers are set to face higher prices. The head of Germany's BGA federation of wholesale, foreign trade and service, Dirk Jandura, warned on Wednesday that Germans might have to dig deeper into their pockets to pay for American products, such as orange juice, bourbon and peanut butter, in supermarkets. Commenting on recent unprecedented changes in Germany's economic policy, which were altered allow the country to borrow more to spend on defence and infrastructure, Mr Nagel said it was an "extraordinary measure" for an "extraordinary time". "The whole world is facing tectonic changes which makes the current situation very different from those seen in the past, hence the fiscal change," he said. He added the policy change would allow Germany some financial breathing room for recovery in the next few years, adding it provided a "stability signal to the market".
BBC News
13-03-2025
- Business
- BBC News
US tariffs could deepen Germany's recession, says bank
Tariffs on goods being imported into the US could tip Europe's largest economy into another recession, according to the president of Germany's central economy has contracted for the past two years and with tariffs, the country "could expect a recession for this year" too, Joachim Nagel, the head of the Deutsche Bundesbank, told the BBC World Service in an exclusive tariffs, the bank forecasts the German economy will stagnate but still grow, by about 0.2%, he said "there are only losers" when imposing tariffs, and supported the EU's retaliatory measures against US President Donald Trump's 25% tariff on all steel imports from overseas. Tariffs are a central part of Trump's overall economic vision - he hopes they will boost US manufacturing and protect jobs, but critics say in the immediate term they will raise prices for US response to Trump's move, the EU has hit back with import taxes on a range of US products, which are set to come into force on 1 Nagel called Trump's tariff policy "economics from the past" and "definitely not a good idea".A global trade war is one of the concerns from tariffs and retaliatory tariffs, he said, but added it was a "necessity" for the EU to react "because if something is working against you, you can't accept a policy like this".However, he suggested that when the US realises that the price that needs to be paid will be "highest on the side of the Americans", it will allow further opportunity for all sides to come to a different resolution."I hope that in the end, good policy will succeed," he said. Germany's export economy had been one of its strengths in past decades, and its cars such as BMW, Mercedes, Volkswagens and Audis are popular in the Nagel refuted claims that Germany was the "sick man of Europe", saying it had a "strong economic basis" and "strong small and medium sized companies"."But nevertheless, when you are exposed to an export-oriented model, then you are more exposed in a situation when tariffs are going up and there are so many uncertainties, so many unknowns," he said Germany could overcome such challenges "over the next couple of years".However, German consumers are set to face higher prices. The head of Germany's BGA federation of wholesale, foreign trade and service, Dirk Jandura, warned on Wednesday that Germans might have to dig deeper into their pockets to pay for American products, such as orange juice, bourbon and peanut butter, in supermarkets. 'Tectonic changes' Commenting on recent unprecedented changes in Germany's economic policy, which were altered allow the country to borrow more to spend on defence and infrastructure, Mr Nagel said it was an "extraordinary measure" for an "extraordinary time"."The whole world is facing tectonic changes which makes the current situation very different from those seen in the past, hence the fiscal change," he added the policy change would allow Germany some financial breathing room for recovery in the next few years, adding it provided a "stability signal to the market".
