euro area and for supervising all euro area banks in order to ensure their safety and soundness, some directly and some …

This paper provides an overview of supply and demand factors influencing the availability of euro-denominated debt … instruments that qualify as high-quality liquid assets (HQLA) in the euro area. The paper estimates the supply of HQLA issued by …

outlines the interaction between the monetary implementation framework used to steer short-term market interest rates and banks … indicate an increase, over recent years, in the level of excess liquidity required in the euro area to avoid a rise in short …-term market rates. Moreover, the dependency on the adopted monetary policy instruments and the external environment highlights the …

perspective. This approach employs a large-scale semi-structural model reflecting the dynamics of 91 significant euro area banks … and 19 euro area economies and is presented through an assessment of the stance evolution for the aggregate euro area … economy and for the individual euro area countries. Our results uncover mild tightening of the macroprudential policy stance …

first is the global financial crisis in 2008-09, and the second is the euro area sovereign debt crisis in 2010-12. Both … sequence of financial reforms has improved the sector's ability to deal with major macro-financial shocks at the EU/euro area …