Banque centrale du Luxembourg

December 2017

29Dec International investment position at the end of the third quarter of 2017 Compared to the second quarter of 2017, Luxembourg’s external financial assets decreased by 277 billion euros to reach 10 438 billion euros at the end of the third quarter of 2017.(...)

21Dec Evolution of reserve requirement The Banque centrale du Luxembourg (BCL) informs that the amount of the reserve requirement, for the maintenance period from 20 December 2017 to 30 January 2018, amounts to 4 608 million euros.(...)

12Dec Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loans and deposit operations have on average evolved as follows in October 2017.(...)

06Dec Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 753 847 million euros on 31 October 2017, compared to 748 851 million euros on 30 September 2017, an increase of 0.7%.(...)

05Dec Consumer Confidence Survey Consumer confidence hits a new record high in November 2017.(...)

November 2017

29Nov Statement of Commitment to Foreign Exchange Global Code of Conduct All central banks in the European System of Central Banks (ESCB) are strongly committed to supporting and promoting adherence to the Foreign Exchange Global Code of Conduct (...)

14Nov Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loans and deposit operations have on average evolved as follows in September 2017.

08Nov Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 748 851 million euros on 30 September 2017, compared to 751 990 million euros on 31 August 2017, a decrease of 0.4%.(...)

07Nov Evolution of employment in credit institutions The Banque centrale du Luxembourg (BCL) informs that Luxembourg’s credit institutions employed 26 030 people as of 30 September 2017.(...)

06Nov Evolution of reserve requirement The Banque centrale du Luxembourg (BCL) informs that the amount of the reserve requirement, for the maintenance period from 1 November 2017 to 19 December 2017, amounts to 4 598 million euros.(...)

October 2017

31Oct Consumer Confidence Survey Consumer confidence increases and returns to peak levels in October 2017.(...)

13Oct Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loans and deposit operations have on average evolved as follows in August 2017.(...)

09Oct Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 751 990 million euros on 31 August 2017, compared to 761 658 million euros on 31 July 2017, a decrease of 1.3%.(...)

02Oct Balance des paiements du Luxembourg au premier semestre 2017 The Central Bank of Luxembourg (BCL) and STATEC inform that, according to preliminary provisional results, the current account for the first half-year of 2017 showed a surplus of 884 million euros, compared to 1.4 billion for the same period of the previous year.(...

September 2017

29Sep Consumer Confidence Survey The Banque centrale du Luxembourg’s consumer confidence indicator has picked up in September 2017.(...)

26Sep International investment position at the end of June 2017 Compared to the first quarter of 2017, Luxembourg’s external financial assets increased by 77 billion euros to reach 10 838 billion euros at the end of the second quarter of 2017.(...)

20Sep Upcoming launch of the 5th edition of the “Generation €uro Students’ Award” competition for secondary school students For the fifth year, the Banque centrale du Luxembourg (BCL), in partnership with the European Central Bank (ECB) and a dozen other national central banks of the euro area, organises the Eurosystem’s “Generation €uro Students’ Award” high school competition.(...)

19Sep HRH Grand Duke Henri visits the ECB Grand Duke Henri of Luxembourg visited the European Central Bank (ECB) on 19 September 2017.(...)

19Sep Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 761 658 million euros on 31 July 2017, compared to 760 121 million euros on 30 June 2017, an increase of 0.2%.(...)

18Sep Evolution of reserve requirement The Banque centrale du Luxembourg (BCL) informs that the amount of the reserve requirement, for the maintenance period from 13 September 2017 to 31 October 2017, amounts to 4 632 million euros(...)

18Sep Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loans and deposit operations have on average evolved as follows in July 2017.(...)

07Sep Publication of Working Paper 113 - Household debt burden and financial vulnerability in Luxembourg This paper investigates financial vulnerability across the population of Luxembourg households using balance sheet information from the 1st and 2nd wave of the Luxembourg Household Finance and Consumption Survey.(...)

01Sep "EMU architecture and the future of risk sharing in Europe" by Jean Tirole The Bridge Forum Dialogue a.s.b.l., the Central Bank of Luxembourg (BCL) have the honour to invite you on Thursday 21 September 2017 at 6.30 p.m. to a conference under the title: "EMU architecture and the future of risk sharing in Europe"(...)

01Sep Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 760 121 million euros on 30 June 2017, compared to 770 908 million euros on 31 May 2017, a decrease of 1.4%.(...)

August 2017

30Aug Consumer Confidence Survey Consumer confidence slightly declines in August 2017.(...)

28Aug Publication of Working Paper n°112 - What Drives Gross Flows in Equity and Investment Fund Shares in Luxembourg? The paper analyses gross investment flows in equity and investment fund shares (EIFS) in Luxembourg - a small open economy with a financial center - over the period 2002Q1-2016Q3.(...)

21Aug Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loans and deposit operations have on average evolved as follows in June 2017.(...)

21Aug Evolution of employment in credit institutions The Banque centrale du Luxembourg (BCL) informs that Luxembourg’s credit institutions employed 26 133 people as at 30 June 2017. Employment in credit institutions decreased by 11 units compared to the previous quarter. It decreased by 95 units since 30 June 2016.(...)

July 2017

31Jul Evolution of reserve requirement The Banque centrale du Luxembourg (BCL) informs that the amount of the reserve requirement, for the maintenance period from 26 July 2017 to 12 September 2017, amounts to 4 603 million euros.(...)

31Jul Consumer Confidence Survey Consumer confidence stabilises in July 2017.(...)

21Jul Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loans and deposit operations have on average evolved as follows in May 2017.(...)

04Jul Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 770 908 million euros on 31 May 2017, compared to 780 831 million euros on 30 April 2017, a decrease of 1.3%.(...)

June 2017

30Jun Publication of Working Paper 110: Active labour market policies and short-time work arrangements: Evidence from a survey of Luxembourg firms We analyse the use of active labour market policy (ALMP) measures and short-time work arrangements (STWAs) by Luxembourg firms during the years of economic and financial crisis (2008-09) and the subsequent European sovereign debt crisis (2010-13).(...)

29Jun Consumer Confidence Survey Consumer confidence declines in June 2017.(...)

29Jun Publication of Working Paper 109: Systemic Financial Sector and Sovereign Risks This study takes a comprehensive approach to systemic risk stemming from Luxembourg’s Other Systemically Important Institutions (OSIIs), from the Global Systemically Important Banks (G-SIBs) to which they belong, from the investment funds sponsored by the OSIIs, from the housing market, from the non-financial corporate sector and from the sovereign.(...)

26Jun Balance of payments of Luxembourg for the first quarter of 2017 The Central Bank of Luxembourg (BCL) and STATEC inform that, according to preliminary provisional results, the current account for the first quarter of 2017 shows a surplus of 462 million euros, compared to 519 million for the same period of the previous year.(...)

26Jun International investment position at the end of March 2017 Compared to the last quarter of 2016, Luxembourg’s external financial assets increased by 180 billion euros to reach 10 487 billion euros at the end of the first quarter of 2017. (...)

16Jun Evolution of reserve requirement The Banque centrale du Luxembourg (BCL) informs that the amount of the reserve requirement, for the period of maintenance from 14 June 2017 to 25 July 2017, amounts to 4 703 million euros.(...)

16Jun 2017 silver-niobium collector coin « Castle of Useldange » on sale at BCL and 2 euro commemorative coin rolls “50th anniversary of the voluntariness of the Luxembourg army” As of Wednesday June 21, 2017, the Banque centrale du Luxembourg will sell at the counters of the Numismatic center situated at 43, avenue Monterey, L-2163 Luxembourg, the following numismatic products, while stocks last(...)

13Jun Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loans and deposit operations have on average evolved as follows in April 2017.(...)

06Jun Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 780 831 million euros on 30 April 2017, compared to 781 993 million euros on 31 March 2017, a decrease of 0.1%.(...)

01Jun Consumer Confidence Survey Consumer confidence recovers and hits a new record high in May 2017.(...)

May 2017

25May ESCB central banks welcome the publication of Foreign Exchange Global Code of Conduct The European System of Central Banks (ESCB) welcomes the publication of the Foreign Exchange Global Code of Conduct (Code) and related adherence mechanisms material.(...)

17May Publication of Working Paper 108: Public debt, central bank and money: some clarifications The purchase of securities, and more specifically government bonds, belongs to the monetary policy implementation framework of many central banks, the Eurosystem being no exception for that matter.(...)

16May Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loans and deposit operations have on average evolved as follows in March 2017.(...)

16May Publication of Working Paper 107: Firm Growth in Europe: an Overview based on the CompNet Labour Module This paper illustrates the main features of the Labour Module of the CompNet dataset which provides indicators of firm growth over the period 1995-2012 across 17 EU (13 euro area) countries and 9 macro-sectors.(...)

15May Publication of Working Paper 106: The Luxembourg Household Finance Consumption Survey: Results from the 2nd wave This report presents the main results and the underlying methodology of the 2nd wave of the Luxembourg Household Finance and Consumption Survey (LU-HFCS) and compares them to those obtained in the 1st wave in 2010.(...)

08May Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 781 992 million euros on 31 March 2017, compared to 771 265 million euros on 28 February 2017, an increase of 1.4%.(...)

08May Evolution of employment in credit institutions The Banque centrale du Luxembourg (BCL) informs that Luxembourg’s credit institutions employed 26 144 people as of 31 March 2017. Employment in credit institutions increased by 82 units compared to the previous quarter.(...)

08May Film on cash management at the BCL In order to better present its missions and tasks, the Banque centrale du Luxembourg (BCL) has released a short explanatory film on its website (www.bcl.lu) on the processing of euro banknotes.(...)

04May Evolution of reserve requirement The Banque centrale du Luxembourg (BCL) informs that the amount of the reserve requirement, for the period of maintenance from 3 May 2017 to 13 June 2017, amounts to 4 705 million euros.(...)

April 2017

27Apr Consumer Confidence Survey Consumer confidence slightly decreases in April 2017.(...)

10Apr Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loans and deposit operations have on average evolved as follows in February 2017.(...)

10Apr Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 771 265 million euros on 28 February 2017, compared to 777 500 million euros on 31 January 2017, a decrease of 0.8%.(...)

07Apr Generation €uro students’ award competition: the winning teams at the ECB Two students of Luxembourg's Generation €uro Student's Award winning team, team "Wolfie" from the Athénée de Luxembourg, accompanied by their teacher, were welcomed at the European Central Bank (ECB) on 4-5 April 2017 for the European Award Event, which was also attended by the winning teams of the other participating countries.(...)

06Apr The official 2017 BU set "city of Esch-sur-Alzette" on sale at BCL As of Thursday April 13, 2017, the Banque centrale du Luxembourg will sell at the counters of the Numismatic center situated at 43, avenue Monterey, L-2163 Luxembourg, the official 2017 Luxembourg BU set “city of Esch-sur-Alzette”.(...)

03Apr 4.4.2017: Introduction of the new 50 euro banknote of the “Europa” series On 4 April, the Banque centrale du Luxembourg (BCL) and the national central banks of the euro area have introduced the new 50 euro banknote, the fourth banknote from the “Europa” series, after the introduction of the 5, 10 and 20 euro banknotes in 2013, 2014 and 2015.(...)

March 2017

30Mar International investment position at the end of December 2016 Compared to the third quarter of 2016, Luxembourg’s external financial assets increased by 402 billion euros to reach 10 308 billion euros at the end of the last quarter of 2016.(...)

29Mar Balance of payments of Luxembourg in 2016 The Central Bank of Luxembourg (BCL) and STATEC inform that, according to preliminary provisional results, the current account for 2016 resulted in a surplus of 2.6 billion euros, corresponding to an almost 5% drop compared to 2015.(...)

29Mar Visit of Her Royal Highness the Grand Duchess at the BCL in the context of the “Woch vun de Suen” On Wednesday 29 March 2017, Mr Gaston Reinesch, Governor of the Banque centrale du Luxembourg (BCL), has had the honour of welcoming Her Royal Highness the Grand Duchess at the BCL in the context of the presentations held to pupils of primary education during the European Money Week (“Woch vun de Suen”) from 27 to 31 March.(...)

27Mar Consumer Confidence Survey Consumer confidence strongly increases and hits a record high in March 2017.(...)

16Mar Evolution of reserve requirement The Banque centrale du Luxembourg (BCL) informs that the amount of the reserve requirement, for the period of maintenance from 15 March 2017 to 2 May 2017, amounts to 4 607 million euros.(...)

14Mar Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loans and deposit operations have on average evolved as follows in January 2017.(...)

09Mar Publication du Cahier d’études n°105 : Investment Price Rigidity and Business Cycles Les rigidités de prix --- définies comme le processus lent et progressif d'ajustement des prix à la suite de chocs --- constituent un ingrédient important de l'analyse macroéconomique.(...)

07Mar Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 777 500 million euros on 31 January 2017, compared to 763 668 million euros on 31 December 2016, an increase of 1.8%.(...)

01Mar The Bridge Forum Dialogue - Conference of Mr Mario Monti Conference of Mr. Mario Monti, Former Italian Prime Minister (2011-2013) and Former Member of the European Commission (1995-2004): “Future financing of the EU: time for change?”(...)

01Mar Finals and award ceremony of the "Generation €uro Students' Award" high school competition Mardi 28 février étaient organisées à la BCL la finale et la remise des prix du concours scolaire de l’Eurosystème « Generation €uro Students’ Award ».(...)

February 2017

27Feb Consumer Confidence Survey Consumer confidence stabilises in February 2017.(...)

22Feb The Bridge Forum Dialogue - Conference of Mr Mario Monti The Bridge Forum Dialogue a.s.b.l. and the European nvestment Bank have the honour to invite you(...)

13Feb 6,000 shops and small businesses in Luxembourg will receive leaflets on the new 50 € banknote In anticipation of the launch of the new 50 € banknote on 4 April 2017, 2.8 million shops and small businesses in the euro area, including 6,000 in Luxembourg, will receive an information leaflet and a lenticular card introducing the new banknote. (...)

10Feb Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loans and deposit operations have on average evolved as follows in December 2016.(...)

08Feb The 2017 coin card “50th anniversary of the voluntariness of the Luxembourg army” on sale at the BCL As of Thursday 9 February 2017, the Banque centrale du Luxembourg will sell at the counters of its Numismatic Centre located at 43, avenue Monterey, L-2163 Luxembourg, a coin card including the 2 euro commemorative coin, minted in Brilliant Uncirculated quality, which is dedicated to the 50th anniversary of the voluntariness of the Luxembourg army. (...)

07Feb Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 763 668 million euros on 31 December 2016, compared to 768 441 million euros on 30 November 2016, a decrease of 0.6%. Between the months of December 2015 and December 2016, the aggregated balance sheet increased by 2.3%. (...)

06Feb Evolution of employment in credit institutions The Banque centrale du Luxembourg (BCL) informs that Luxembourg’s credit institutions employed 26 062 people as of 31 December 2016.(...)

03Feb New Director of the Banque centrale du Luxembourg By virtue of a Grand-Ducal Decree of 12 December 2016, Mr Roland Weyland, First Advisor to the BCL Executive Board, was appointed Director of the BCL for a period of 6 years as of 1 January 2017.

January 2017

27Jan Organisation of a training seminar for economics and social sciences teachers at the BCL On Thursday, 26 January, a training seminar for teachers, tutors and trainee teachers in economics and social sciences was held at the BCL on the theme: "The Eurosystem’s Monetary Policy”.(...)

25Jan Evolution of reserve requirement The Banque centrale du Luxembourg (BCL) informs that the amount of the reserve requirement, for the period of maintenance from 25 January 2017 to 14 March 2017, amounts to 4 658 million euros.(...)

25Jan Film about the missions and tasks of the Banque centrale du Luxembourg In order to better present its missions and tasks, the Banque centrale du Luxembourg (BCL) has released a short explanatory film that is available on its website (www.bcl.lu).(...)

24Jan Interest rates The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the main interest rates applied by Luxembourg’s credit institutions to euro area households and non-financial corporations (NFCs) for their loan and deposit operations have on average evolved as follows in November 2016.(...)

24Jan Oath of office at the BCL On 23 January 2017, 16 new staff members of the Banque centrale du Luxembourg (BCL) have been sworn in by Mr Gaston Reinesch, Governor of the BCL...

20Jan Publication of the Bulletin BCL 2016/3 En ce jour, la Banque centrale du Luxembourg (BCL) a publié son Bulletin 2016/3.

06Jan Consumer Confidence Survey Consumer confidence continues to increase in December 2016.(...)

05Jan Evolution of credit institutions’ balance sheet The Banque centrale du Luxembourg (BCL) informs that, based on preliminary data, the aggregated balance sheet of credit institutions reached 768 441 million euros on 30 November 2016, compared to 753 155 million euros on 31 October 2016, an increase of 2.0%.(...)

2017

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