-border bank lending in US dollars, and particularly in euro, is highly concentrated in a small number of countries. The UK is … central in the international network of loans denominated in euro, although there are tentative signs that this role has … optimisation strategies. The empirical analysis suggests that euro-denominated loans face the "tyranny of distance", in line with …

Four years after the introduction of the euro, this paper provides an overview of the current structure and integration … of the euro area financial systems and related policy initiatives. We first compare the euro area financial structure … with that of the United States and Japan. Using new and comprehensive financial account data, we also describe how the euro …

analyze the role and impact of heterogeneities in euro overnight unsecured market. The empirical assessment of the functioning … against some significant events that occurred in the euro money market, such as the reform of the Eurosystem’s operational …

This paper uses a unique dataset where credit rejections experienced by euro area firms are matched with firm and bank … the euro area during the sovereign debt crisis, and in credit developments characterising the post-crisis recovery … representation of euro area firms of small and medium size. Our findings suggest that, while firm balance sheet factors have been …

We analyse the interaction between monetary and macroprudential policies in the euro area by means of a two …-country DSGE model with financial frictions and cross-border spillover effects. We calibrate the model for the four largest euro area …

two non-stressed euro area economies, we show that "zombie" firms generally continued to lever up during the 2010 … tied to weak banks in euro area periphery countries increase their indebtedness even further. Sustainable economic recovery …