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The move to European Banking Union involving the supervision and resolution of banks at euro-area level was stimulated by the sovereign debt crisis in the euro area in 2012. However, the long-term objective of Banking Union is dealing with intensified cross-border banking. The share of the...
Persistent link: https://www.econbiz.de/10011420986
Financial supervision focuses on the aggregate (macroprudential) in addition to the individual (microprudential). But an agreed framework for measuring and addressing financial imbalances is lacking. We propose a holistic approach for the financial system as a whole, beyond banking. Building on...
Persistent link: https://www.econbiz.de/10011420997
Central banks have already started to look at climate-related risks in the context of financial stability. Should they also take the carbon intensity of assets into account in the context of monetary policy? The guiding principle in the implementation of monetary policy has been 'market...
Persistent link: https://www.econbiz.de/10012140820
How can governments and companies be jointly empowered to have a positive impact on the sustainable development goals? The current economic system is largely geared towards increasing economic growth. But this could come at the expense of rising social inequality and environmental...
Persistent link: https://www.econbiz.de/10012605176
European Union countries offer a unique experience of financial regulatory and supervisory integration, complementing various other European integration efforts following the second world war. Financial regulatory and supervisory integration was a very slow process before 2008, despite...
Persistent link: https://www.econbiz.de/10011779202
Integrated capital markets facilitate risk sharing across countries. Lower home bias in financial investments is an indicator of risk sharing. We highlight that existing indicators of equity home bias in the literature suffer from incomplete coverage because they consider only listed equities....
Persistent link: https://www.econbiz.de/10011779204