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TARGET balances have risen during the period of the Eurosystem's asset purchase programme (APP). The APP gives rise to substantial cross-border flows of reserves at the time of asset purchases and beyond, reflecting the interaction of decentralised monetary policy implementation and the...
Persistent link: https://www.econbiz.de/10011719852
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
This publication summarizes the lessons learned from the 30 country reviews of sustainable development that have been published since 2002 as part of OECD economic surveys. It also examines the concrete action that countries have taken to promote sustainable development while concentrating on...
Persistent link: https://www.econbiz.de/10002723469
Persistent link: https://www.econbiz.de/10003425308
Persistent link: https://www.econbiz.de/10003488374
This paper investigates the interrelations between monetary, macro- and microprudential policies. It first provides an overview of the three policies, starting with their main instruments and objectives. Monetary policy aims at maintaining price stability and promoting balanced economic growth,...
Persistent link: https://www.econbiz.de/10011647771