Immediately after the outbreak of the current pandemic crisis, the EU developed a (rather) consistent strategy, by taking measures in order to deal with health emergency needs, support economic activity and employment, preserve monetary and financial stability and prepare the ground for...

For the largest 55 German banks, we detect the presence of countercyclical yield seeking in the form of acquisition of high-yielding periphery bonds in the period from Q1 2008 to Q2 2011. This investment strategy is pursued by banks not subject to a bailout, banks characterised by high...

For the largest 55 German banks, we detect the presence of countercyclical yield seeking in the form of acquisition of high-yielding periphery bonds in the period from Q1 2008 to Q2 2011. This investment strategy is pursued by banks not subject to a bailout, banks characterised by high...

Not least due to the relatively short period of existence of the Single Supervisory Mechanism (SSM), the transparency of the European Central Bank (ECB) in the SSM has not attracted significant attention from legal scholarship. This contribution seeks to close this gap to some extent by mapping...

The operationalisation in late 2014 of European Regulation 1024/2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions and establishing a Single Supervisory Mechanism (SSMR) has profoundly changed the European...

In the wake of the European financial and sovereign debt crisis there is a revived interest in the constitutional position of the European Central Bank (ECB) in the European Union legal order, notably its independence and democratic legitimacy. A new generation of researchers, witnessing and in...

An EU legal analysis of the European Central Bank's Pandemic Emergency Purchase Programme (PEPP), originally published in March 2020 in EULawLive, updated to include more references to the ECB's pandemic responses (prudential, monetary policy) and the EU's NextGenerationEU Recovery and...

The framing of ‘bail-in' as a key resolution tool within the body of the Bank Recovery and Resolution Directive (“BRRD”) has been hailed by many as the end of public bail-outs. For its effective functioning, policymakers and private counterparties have battled to renovate the liability...