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Macroprudential policy : a blessing or a curse?
Popoyan, Lilit - 2016
After the destructive impact of the global financial crisis of 2008, many believe that pre-crisis financial market regulation did not take the "big picture" of the system suffciently into account and, subsequently, financial supervision mainly "missed the forest for the trees". As a result, the...
Persistent link: https://www.econbiz.de/10011477338
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Macroprudential policy at the ECB : institutional framework, strategy, analytical tools and policies
Constâncio, Vítor (ed.); Cabral, Inês (contributor);  … - 2019
This occasional paper describes how the financial stability and macroprudential policy functions are organised at the ECB. Financial stability has been a key policy function of the ECB since its inception. Macroprudential policy tasks were later conferred on the ECB by the Single Supervisory...
Persistent link: https://www.econbiz.de/10012033308
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Central clearing and systemic liquidity risk
King, Thomas B.; Nesmith, Travis D.; Paulson, Anna Louise; … - 2019
By stepping between bilateral counterparties, a central counterparty (CCP) transforms credit exposure. CCPs generally improve financial stability. Nevertheless, large CCPs are by nature concentrated and interconnected with major global banks. Moreover, although they mitigate credit risk, CCPs...
Persistent link: https://www.econbiz.de/10012130105
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The SSM at 1
Laeven, Luc; Draghi, Mario; Dombret, Andreas R.; … - SUERF - The European Money and Finance Forum; Deutsche …; … - 2016
On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...
Persistent link: https://www.econbiz.de/10011557140
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Addressing systemic risk in Europe during Covid-19 : the role of regulation and the policy mix
Dotta, Vitor - 2022
regulation, the European Central Bank provided substantial monetary policy easing, for instance the release of capital buffers …
Persistent link: https://www.econbiz.de/10013188926
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Systemically important banks : emerging risk and policy responses : an agent-based investigation
Popoyan, Lilit; Napoletano, Mauro; Roventini, Andrea - 2023
to Basel III macro-prudential frameworks and manage their liquidity in the interbank market. The Central Bank performs … type and management strategy of the bank, leading to the ''one-size-fits-all'' problem. Finally, we found that additional …
Persistent link: https://www.econbiz.de/10014332099
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Taking the Moral Hazard Out of Banking : The Next Fundamental Step in Financial Reform
Masera, Rainer - 2011
The path between financial meltdown and moral hazard in banking is, at best, narrow and impervious. During the financial crisis, public support became the standard response to save the banks in difficulty, heightening and broadening the moral hazard issue: subordinated/senior debt holders and...
Persistent link: https://www.econbiz.de/10013120058
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Macroprudential regulation and leakage to the shadow banking sector
Gebauer, Stefan; Mazelis, Falk - 2019
crisis. These policies are often aimed at the commercial banking sector, while a host of other non-bank financial … institutions, or shadow banks, may not fall under their jurisdiction. We study the effects of tightening commercial bank regulation … tighter capital requirements on commercial banks increase shadow bank lending, which may have adverse financial stability …
Persistent link: https://www.econbiz.de/10012035452
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Dealing with financial crises : how much help from research?
Pagano, Marco - 2014
previous research on the role of central banks as lenders of last resort in crises and on the real effects of bank lending and …
Persistent link: https://www.econbiz.de/10010413174
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Estimating the appropriate quantity of settlement balances in a floor system
Bulusu, Narayan; McNeely, Matthew; McRae, Kaetlynd; … - 2023
In April 2022, the Bank of Canada announced that it would continue to use a floor system to implement monetary policy … the deposit rate. In contrast, the Bank's guiding principles of prudence, transparency and neutrality, which govern the … rate close to the Bank's policy interest rate (which is equal to the deposit rate in a floor system). The second is an …
Persistent link: https://www.econbiz.de/10014392970