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The European Commission’s approach to the supervision and restructuring of the EU banking system has numerous shortcomings. As an alternative, this article proposes a European Resolution Authority and a European Restructuring Fund for systemically important banks and the implementation of a...
Persistent link: https://www.econbiz.de/10009748596
Despite the experience of the ongoing sovereign debt crisis, European banks continue to hold large amounts of bonds from their home governments. This ties the fates of the sovereign and the banks together, leading to the disruptive self-reinforcing feedback loops that brought the euro area to...
Persistent link: https://www.econbiz.de/10009724736
Governments, regulatory authorities and standard-setting bodies started acting on global stablecoins triggered by the Libra announcement. Among the concerns expressed by the G7 and the G20 are risks to the stability of the financial system. The Financial Stability Board and the Financial Action...
Persistent link: https://www.econbiz.de/10012405497
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Although there are currently four retail central bank digital currencies in circulation, no central bank has yet issued … the wholesale form of a central bank digital currency. There are good reasons to do so, however, and central banks have … already conducted projects in this area. A wholesale central bank digital currency could be issued in different ways. This …
Persistent link: https://www.econbiz.de/10014477684
Libra - a global virtual currency project initiated by Facebook - has been the subject of many controversial discussions since its announcement in June 2019. This paper provides a differentiated view on Libra, recognising that different development scenarios of Libra are conceivable. Libra could...
Persistent link: https://www.econbiz.de/10012170025
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Brexit is not only a historical chapter of the British — EU relationship, but it also carries immense challenges for fi nancial market stability in the short and medium run for the 28 member states of the European Union. The scale of these challenges depends heavily on the outcome of EU-UK...
Persistent link: https://www.econbiz.de/10011929879
The attitude of German exporters and importers to currency risks under a system of floating exchange rates has, for the first time, been the subject of an empirical study by the HWWA Institute. The investigation was, in the main, based on a questionnaire sent to 719 enterprises of all sizes...
Persistent link: https://www.econbiz.de/10011557053
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