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Central Banks Headlines

ECB launches new reference rate after failed reform

The European Central Bank will develop a new overnight reference interest rate by 2020, it said on Thursday, potentially creating a new benchmark after industry players failed to revamp existing facilities hit by fraud and dwindling liquidity.

ECB may ask fintech banks to hold bigger buffers

High-tech banks looking to enter the fintech zone may be asked to hold bigger liquidity and capital buffers due to the unique nature of their risks, the European Central Bank said in draft licensing guidelines on Thursday.