The financing structure of the euro area economy has evolved since the global financial crisis with non-bank financial intermediation taking a more prominent role. This shift affects the transmission of monetary policy. Compared with banks, non-bank financial intermediaries are more responsive...

This article presents an update of the analysis of French-domiciled funds’ prospectuses carried out jointly by the Autorité des marchés financiers and the Banque de France (Darpeix, LeMoign, Même, Novakovic, 2020). The first contribution of this new study is to bring a time dimension to the...

This article constitutes a first presentation of the prospectus analysis tool developed through a cooperation between the Banque de France and the Autorité des marchés financiers (AMF). This work aims to identify the liquidity management tools (LMT) implemented funds regulated by the AMF under...