crisis have affected the conduct of monetary policy by the European Central Bank (ECB) within the Eurosystem, have led to the …

analyses the role of the European Central Bank (ECB) during the first phase of this crisis, both in its capacity as a monetary …

should reduce problems with non-performing loans. The effects of QE on bank profitability are therefore not one directional … been stable. Moreover, bank profitability has increased mostly as a result of efforts to clean balance sheets of impaired … countries where NPL levels were abnormally high. Moreover, we show that bank profitability in some countries has been a concern …