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Measuring the cost of equity of euro area banks

Altavilla, Carlo; Bochmann, Paul Martin; De Ryck, Jeroen; … - 2021

The cost of equity for banks equates to the compensation that market participants demand for investing in and holding banks' equity, and has important implications for the transmission of monetary policy and for financial stability. Notwithstanding its importance, the cost of equity is...

Persistent link: https://www.econbiz.de/10012521158

A map of the euro area financial system

Andersen, Isabel; Sánchez Serrano, Antonio - 2024

We present a methodology based on quarterly sectoral accounts to build a map of the euro area financial system. The map can be used to visualise existing cross-sectoral interconnections and exposures, to analyse how the main bilateral positions have evolved over time, and to understand how past...

Persistent link: https://www.econbiz.de/10015123033

Sovereign bond purchases and risk-sharing arrangements: Implications for monetary policy

Blaszkiewicz-Schwartzman, Monika - 2015

The design of the euro area Quantitative Easing (QE) programme raises the question of whether insuficient liquidity in the bond markets will reduce the impact of the programme and lead to market volatility. While estimates suggests that scarcity of around €102 billion may arise over the life...

Persistent link: https://www.econbiz.de/10011430932

Availability of high-quality liquid assets and monetary policy operations: An analysis for the euro area

Grandia, Roel (contributor); Hänling, Petra (contributor); … - 2019

This paper provides an overview of supply and demand factors influencing the availability of euro-denominated debt instruments that qualify as high-quality liquid assets (HQLA) in the euro area. The paper estimates the supply of HQLA issued by the public and private sectors as well as the...

Persistent link: https://www.econbiz.de/10012141416

TARGET2 analytical tools for regulatory compliance

Glowka, Marc; Müller, Alexander; Friz, Livia Polo; … - 2022

As the operator of a systemically important payment system (SIPS), the Eurosystem has the responsibility of regularly assessing the resilience of the Trans-European Automated Real-time Gross Settlement Express Transfer System (TARGET2) to various types of risks, as set out in the Principles for...

Persistent link: https://www.econbiz.de/10013480189

The collateral frameworks of the Eurosystem, the Federal Reserve System and the Bank of England and the financial market turmoil

Cheun, Samuel; von Köppen-Mertes, Isabel; Weller, Benedict - 2009

In response to the turmoil in global financial markets which began in the second half of 2007, central banks have changed the way in which they implement monetary policy. This has drawn particular attention to the type of collateral used for backing central banks’ temporary open market...

Persistent link: https://www.econbiz.de/10011606259

Two New Measures of Bankruptcy Efficiency

Brogi, Ricardo; Santella, Paolo - 2004

This study is aimed at developing new empirical models for evaluating the efficiency of bankruptcy legislations. The paper is divided in three parts. In the first part, we analyze from a conceptual point of view the effects on debtor firms of the lack of creditors' powers in bankruptcy. In the...

Persistent link: https://www.econbiz.de/10011689917

Die Nutzung insolvenzrechtlicher Sanierungswege durch kleine und mittlere Unternehmen: Das Beispiel der Eigenverwaltung

Kranzusch, Peter; Icks, Annette - 2018

Sanierungswege, z. B. das eigenverwaltete Schutzschirmverfahren vor der Insolvenz und die Eigenverwaltung während des …With the introduction of the ESUG law, German insolvency legislation was reformed in 2012. It offers new proceedings … for enterprise re-organisation, both before insolvency and between the application for insolvency and the start of the …

Persistent link: https://www.econbiz.de/10011818046

Design, Structure and Implementation of a Modern Deposit Insurance Scheme

Bernet, Beat; Walter, Susanna - 2009

One of the important consequences to be drawn from the course of the financial crisis up to now is the insight that more attention must be paid in the future to the factors of liquidity, liquidity management and liquidity protection. That holds true for the protection of the stability of an...

Persistent link: https://www.econbiz.de/10011689941

Central bank digital currency: Functional scope, pricing and controls

Bindseil, Ulrich; Panetta, Fabio; Terol, Ignacio - 2021

Even before their deployment in major economies, one of the concerns that has been voiced about central bank digital currency (CBDC) is that it might be too successful and lead to bank disintermediation, which could intensify further in the case of a banking crisis. Some also argue that CBDC...

Persistent link: https://www.econbiz.de/10013331893