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Stress-testing of liquidity risk in TARGET2

Papsdorf, Patrick (contributor); Arciero, Luca (contributor) - Europäische Zentralbank / Group on TARGET2 Stress Testing - 2017

The paper reports the outcome of the stress-testing of liquidity risk in the TARGET2 payment system, with the study … resilience of the system, defined as the network of its participants, and the appropriateness of liquidity levels under tightened … liquidity conditions. The scenarios analysed are based on extreme shocks to the value of collateral of different levels and …

Persistent link: https://www.econbiz.de/10011627053

The ECB after the crisis : existing synergies among monetary policy, macroprudential policies and banking supervision

Cassola, Nuno; Kok Sørensen, Christoffer; Mongelli, … - 2019

The prolonged crisis exposed the vulnerability of a monetary union without a banking union. The Single Supervisory Mechanism (SSM), which started operating in November 2014, is an essential step towards restoring banks to health and rebuilding trust in the banking system. The ECB is today...

Persistent link: https://www.econbiz.de/10012132851

Measuring the cost of equity of euro area banks

Altavilla, Carlo; Bochmann, Paul Martin; Ryck, Jeroen De; … - 2021

The cost of equity for banks equates to the compensation that market participants demand for investing in and holding banks’ equity, and has important implications for the transmission of monetary policy and for financial stability. Notwithstanding its importance, the cost of equity is...

Persistent link: https://www.econbiz.de/10012424350

Stablecoins : implications for monetary policy, financial stability, market infrastructure and payments, and banking supervision in the euro area

Europäische Zentralbank / Crypto-Assets Task Force - 2020

This paper summarises the outcome of an analysis of stablecoins undertaken by the ECB Crypto-Assets Task Force. At the time of writing, the stablecoin debate lacks a common taxonomy and unambiguous terminology. This paper applies a definition that distinguishes stablecoins from existing forms of...

Persistent link: https://www.econbiz.de/10012288134

Cross-border spillover effects of macroprudential policies : a conceptual framework

Kok Sørensen, Christoffer; Reinhardt, Dennis - Europäische Zentralbank / Task Force on Cross-Border … - 2020

Due to the international dimension of the financial sector within the EU and beyond, domestically oriented macroprudential policies have the potential to create material cross-border spillover effects. This occasional paper provides a detailed overview of the academic and empirical literature on...

Persistent link: https://www.econbiz.de/10012254361

The case for central bank independence : a review of key issues in the international debate

Dall’Orto Mas, Rodolfo; Vonessen, Benjamin; Fehlker, … - 2020

This Occasional Paper analyses how significant expansions in central banks' mandates, roles and instruments can result in challenges to the independence of monetary policy. The paper reviews, in particular, some of the key challenges to central bank independence brought about by the global...

Persistent link: https://www.econbiz.de/10012298570

A macro stress testing framework for assessing systemic risks in the banking sector

Henry, Jérôme (contributor) - 2013

Persistent link: https://www.econbiz.de/10011627109

Macroprudential stress test of the euro area banking system

Budnik-Gałązka, Katarzyna; Mozzanica, Mirco Balatti; … - 2019

This paper presents an approach to a macroprudential stress test for the euro area banking system, comprising the 91 largest euro area credit institutions across 19 countries. The approach involves modelling banks'reactions to changing economic conditions. It also examines the effects of adverse...

Persistent link: https://www.econbiz.de/10012033284

Macroprudential policy at the ECB : institutional framework, strategy, analytical tools and policies

Constâncio, Vítor (ed.); Cabral, Inês (contributor); … - 2019

This occasional paper describes how the financial stability and macroprudential policy functions are organised at the ECB. Financial stability has been a key policy function of the ECB since its inception. Macroprudential policy tasks were later conferred on the ECB by the Single Supervisory...

Persistent link: https://www.econbiz.de/10012033308

Developing macroprudential policy for alternative investment funds : towards a framework for macroprudential leverage limits in Europe : an application for the Netherlands

Veer, Koen J. M. van der; Levels, Anouk; Lambert, Claudia; … - 2017

This joint ECB-DNB Occasional Paper aims to inform the ongoing discussions about an EU-level framework for operationalising macroprudential leverage limits for alternative investment funds (AIFs). It builds on, and extends, the analysis of an ECB-DNB special feature article published in the...

Persistent link: https://www.econbiz.de/10011754910