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Collateral plays a central role in monetary policy. In recent years, its importance has increased as uncollateralised … collateral availability and the need for high-quality assets. The European Central Bank has reacted to this development by … creating a series of different measures to broaden collateral availability, including changing the eligibility rules (e …
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Over the last twenty years, the process of European integration, and improvements in the processing and transmission of information, have meant that the European financial system has become less bank-based and more market-based. This trend has been reinforced by the transition to a single...
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This paper discusses how financial stability governance has evolved and how central banks and financial regulators are coping with the threats posed by climate uncertainty, providing an overview of G20 countries' green central banking experiences in the past 20 years. The analysis shows that...
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The extraordinary measures taken by the ECB to combat the financial crisis have led many observers to question whether the bank has put its independence at risk. The bank’s vow to do “whatever it takes” to save the euro has added a second (and potentially contradictory) goal alongside its...
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