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collateral framework of the Eurosystem as a basis of illustration and case study, the paper brings to light the functioning … forces and discipline. The paper also emphasizes the important role of ratings and government guarantees in the Eurosystem …
Persistent link: https://www.econbiz.de/10011296085
On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.
Persistent link: https://www.econbiz.de/10011706117
We examine the relationship between monetary policy operations and interbank borrowing and lending of funds using sovereign bonds as collateral. We first establish that, in the precrisis period, there are important but rather weak relations between these funding sources and that this...
Persistent link: https://www.econbiz.de/10010222894
crisis have affected the conduct of monetary policy by the European Central Bank (ECB) within the Eurosystem, have led to the … Financial Supervision (ESFS) and the then of the Banking Union (BU), in some pillars of which the role of the ECB is significant … Union (including the new (2021) monetary policy strategy of the Eurosystem and its implementation amidst the ‘inflation …
Persistent link: https://www.econbiz.de/10014077291
in 2008–09. Second, the liquidity injected in the market by the ECB played an important role in attenuating the … macroeconomic impact of the shock. According to our counterfactual simulations based on the structural model, in the absence of ECB …
Persistent link: https://www.econbiz.de/10011764878
in 2008.09. Second, the liquidity injected in the market by the ECB played an important role in attenuating the … macroeconomic impact of the shock. According to our counterfactual simulations based on the structural model, in the absence of ECB …
Persistent link: https://www.econbiz.de/10011754899
As reliance on excessively short-term wholesale funding has been one of the major causes for the 2007-2009 financial crisis, recent advances in global liquidity regulation try to curb the excessive reliance on short-term wholesale funding without being clear on how such an approach will affect...
Persistent link: https://www.econbiz.de/10010342820
Persistent link: https://www.econbiz.de/10012798660
Persistent link: https://www.econbiz.de/10011814326