Monetary developments in the euro area: August 2019

Annual growth rate of broad monetary aggregate M3 increased to 5.7% in August 2019 from 5.1% in July (revised from 5.2%) Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, increased to 8.4% in August from 7.8% in July Annual growth rate of adjusted loans to households stood at 3.4% in August, unchanged from […]

Consolidated financial statement of the Eurosystem as at 20 September 2019

In the week ending 20 September 2019 gold and gold receivables (asset item 1) increased by EUR 1 million owing to transactions in gold by two Eurosystem central banks. The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.2 billion to EUR 287.8 billion. As a result of the Eurosystem’s open market operations and standing facilities, […]

ESRB issues five warnings and six recommendations on medium-term residential real estate sector vulnerabilities

The European Systemic Risk Board (ESRB) has today published a set of country-specific warnings and recommendations on medium-term vulnerabilities in the residential real estate sector. The ESRB has a mandate to issue warnings when significant systemic risks are identified and to provide recommendations for remedial action to address such risks. The warnings were sent to the […]

ECB sanctions Piraeus Bank S.A. for breaching own funds provisions between 2015 and 2017

Piraeus Bank S.A found in breach of own funds provisions on an individual and on a consolidated basis during six consecutive quarterly reporting periods between 2015 and 2017 committed under the direction of the former management of Piraeus Bank S.A. ECB imposes a penalty for an amount of € 5,150,000 on Piraeus Bank S.A. The […]

Consolidated financial statement of the Eurosystem as at 13 September 2019

In the week ending 13 September 2019 gold and gold receivables (asset item 1) increased by EUR 5 million owing to transactions in gold by two Eurosystem central banks. The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.3 billion to EUR 288 billion. As a result of the Eurosystem’s open market operations and standing […]

Gap between real-world and type-approval emissions undermines incentives for cleaner cars

Incentives to promote fuel-efficient cars have not always resulted in expected emission reductions, due to the growing gap between real-world and type approval emissions. However, according to a new European Environment Agency (EEA) briefing, incentives that boost the uptake of electric vehicles considerably reduce greenhouse gas and air pollutant emissions.

EMA advises companies on steps to take to avoid nitrosamines in human medicines

EMA’s human medicines committee (CHMP) is requesting as a matter of precaution that marketing authorisation holders for human medicines containing chemically synthesised active substances review their medicines for the possible presence of nitrosamines and test all products at risk. If nitrosamines are detected in any of their medicines, marketing authorisation holders must inform authorities promptly so that appropriate […]