European Central Bank Vice President Vitor Constancio says the "old normal" in banking regulations is gone forever due to reforms resulting from the financial crisis. "It is somewhat doubtful that monetary policy can remain effective just by going back to the traditional approach of very small central-bank balance sheets and the targeting of overnight money market rates," said Constancio, whose term is ending this month.
ECB cannot return to old monetary policy, Constancio says
Sign up for GFMA SmartBrief
Securities, global capital markets and financial services news
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.