This paper discusses the effect of cross-border deposits (CBDs) for the stability of the relation between monetary aggregates and nominal GDP in the five largest EC countries. The analysis is developed in terms of “information content” of alternative money definitions (including or excluding...

The launch of the Single Supervisory Mechanism and the new European legislation on micro and macroprudential instruments (Capital Requirements Directive IV and Capital Requirements Regulation) open important new prospects for banking supervision in Europe. This article reviews opportunities and...

Using a simple method, based on forward interest spreads, we analyse the recent movements in the 10-year yield differentials between three currencies (Italian lira; Spanish peseta; Swedish krona) and the DM in order to gauge the extent to which the reduction in these differentials was due to...