The paper assesses the main factors underlying the decreasing profitability in the European banking sector, in comparison with the US. It underscores in particular the role of low interest rates, lower concentration, tighter regulation and the absence of a deep and liquid capital market. A...

The title of this year's conference “More than the Taylor rule: Monetary Policy, Prudential Issues and Central Banking” provides the grounds for discussing several interesting issues related to the role of central banks, building in particular on the experience acquired before and during the...

Today, the European Council is expected to endorse significant changes to the institutional set-up for financial supervision and regulation in the European Union. Undoubtedly these are important reforms, particularly - but not only - against the background of the financial crisis that started in...