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Know your (holding) limits : CBDC, financial stability and central bank reliance

Meller, Barbara; Soons, Oscar - 2023

individual banks and system wide, and for a given level of liquidity risk tolerance. We simulate the impact of a fictitious …) the number of deposits withdrawn and the speed at which this occurs, ii) the liquidity available within the banking system … at the time of the digital euro introduction, iii) the liquidity risk preferences of the markets and supervisors, iv) the …

Persistent link: https://www.econbiz.de/10014334552

Macroprudential policy at the ECB : institutional framework, strategy, analytical tools and policies

Constâncio, Vítor (ed.); Cabral, Inês (contributor); … - 2019

This occasional paper describes how the financial stability and macroprudential policy functions are organised at the ECB. Financial stability has been a key policy function of the ECB since its inception. Macroprudential policy tasks were later conferred on the ECB by the Single Supervisory...

Persistent link: https://www.econbiz.de/10012033308

The ECB after the crisis : existing synergies among monetary policy, macroprudential policies and banking supervision

Cassola, Nuno; Kok Sørensen, Christoffer; Mongelli, … - 2019

The prolonged crisis exposed the vulnerability of a monetary union without a banking union. The Single Supervisory Mechanism (SSM), which started operating in November 2014, is an essential step towards restoring banks to health and rebuilding trust in the banking system. The ECB is today...

Persistent link: https://www.econbiz.de/10012132851

Implications of higher inflation and interest rates for macroprudential policy stance

Hempell, Hannah S.; Silva, Fatima; Scalone, Valerio; … - 2024

In recent years, monetary policy and inflation considerations have been playing an increasingly important role for macroprudential authorities in their policy setting. This paper aims to assess the implications of high inflation and rising interest rates for macroprudential policy stance. The...

Persistent link: https://www.econbiz.de/10015084468

The role of financial stability considerations in monetary policy and the interaction with macroprudential policy in the euro area

2021

Since the European Central Bank’s (ECB’s) 2003 strategy review, the importance of macro-financial amplification channels for monetary policy has increasingly gained recognition. This paper takes stock of this evolution and discusses the desirability of further incremental enhancements in the...

Persistent link: https://www.econbiz.de/10012650769

Cross-border spillover effects of macroprudential policies : a conceptual framework

Kok Sørensen, Christoffer; Reinhardt, Dennis - Europäische Zentralbank / Task Force on Cross-Border … - 2020

Due to the international dimension of the financial sector within the EU and beyond, domestically oriented macroprudential policies have the potential to create material cross-border spillover effects. This occasional paper provides a detailed overview of the academic and empirical literature on...

Persistent link: https://www.econbiz.de/10012254361

Extraordinary measures in extraordinary times : public measures in support of the financial sector in the EU and the United States

Stolz, Stéphanie Marie (contributor); … - 2010

Persistent link: https://www.econbiz.de/10011627078

The role of financial stability considerations in monetary policy and the interaction with macroprudential policy in the euro area

2023 - Revised June 2023

Persistent link: https://www.econbiz.de/10014303988

Stress-testing of liquidity risk in TARGET2

Papsdorf, Patrick (contributor); Arciero, Luca (contributor) - Europäische Zentralbank / Group on TARGET2 Stress Testing - 2017

The paper reports the outcome of the stress-testing of liquidity risk in the TARGET2 payment system, with the study … resilience of the system, defined as the network of its participants, and the appropriateness of liquidity levels under tightened … liquidity conditions. The scenarios analysed are based on extreme shocks to the value of collateral of different levels and …

Persistent link: https://www.econbiz.de/10011627053

Liquidity in resolution : estimating possible liquidity gaps for specific banks in resolution and in a systemic crisis

Amamou, Raschid; Baumann, Andreas; Chalamandaris, Dimitrios - 2020

This paper contributes to the debate on liquidity in resolution by providing a quantitative assessment of liquidity … gaps of banks in resolution in the euro area. It estimates possible ranges of liquidity gaps for significant banks under … different assumptions and scenarios. The findings suggest that, while the average liquidity gaps in resolution are limited, the …

Persistent link: https://www.econbiz.de/10012313295