addition, changes in sovereign and bank risk are believed to have had strong effects on world-wide exchange rates. This paper … those of bailouts. Furthermore, we demonstrate that the Euro depreciates significantly against the Yen and US Dollar … following general risk shocks in the euro area and only to a small extent following bailout shocks. The Pound Sterling is not …

Euro coins have a common European side and an individual national side. Thanks to coin migration, coins bearing a … panoply of national sides are in circulation throughout the euro area. In this paper, we model the mixing of coins circulating … in the euro area countries and in particular the extent of coin migration in the euro area. A model calibration suggests …

calculating and presentation of the data. Based on a sample of CbCRs published by EU-headquartered multinational bank groups, we …, with CbCRs prepared by bank groups from the United Kingdom and Germany being the most transparent. Inconsistencies in …

the introduction of negative deposit rates by the European Central Bank in June 2014 and a novel securities register for … the 26 largest euro area banking groups. Banks with more customer deposits are negatively affected by negative rates, as …

This paper explores the impact of low (but) positive and negative market interest rates on euro area banks' net … interest margin (NIM) and its components, retail lending and retail deposit rates. Using two proprietary bank-level data sets … adjusted their business practices when servicing new loans, thereby contributing to higher new lending in the euro area since …

We study the implications of the Eurosystem's expanded Asset Purchase Programme (APP) for the bank lending business of … euro area banks with euro area non-financial corporations (NFCs) using microeconometric matching techniques. Based on … confidential bank-level data on quantitative balance sheet items and interest rates as well as on qualitative survey responses to …