European Central Bank ECB News

European Central Bank Test Simulates Cyber Attacks on Financial Firms

The European Central Bank has designed a new test simulating cyber attacks on banks, stock exchanges and other firms that are critical for the functioning of the financial system, it said on Wednesday. The move follows a string of heists …

Swiss Re Hikes Corporate Debt Holdings, Cuts Risky Government Bonds

The European Central Bank has turned government bonds into one of the riskiest asset classes, prompting Swiss Re AG to move more of its investments into corporate debt, according to the reinsurer’s chief investment officer. “If you’re looking for a …

Insurers Provide Cover for German Banks Stashing Billions of Euros

Europe’s top insurers are selling protection to German banks that hoard billions of euros of cash in vaults to avoid paying a penalty by parking it at the European Central Bank, company executives told Reuters. The sums are so big …

Europe Deepens Union with ECB as Chief Bank Watchdog

Europe clinched a deal on Thursday to give the European Central Bank new powers to supervise euro zone banks from 2014, embarking on the first step in a new phase of closer integration to help underpin the euro. After more …