collateral framework of the Eurosystem as a basis of illustration and case study, the paper brings to light the functioning … in modern monetary and financial systems, namely central bank collateral frameworks. Their importance can be understood …, not defined in a market, but by the collateral frameworks and interest rate policies of central banks. Using the …

This paper investigates the European Central Bank's (ECB) monetary policies. It identifies an antigrowth bias in the … bank's monetary policy approach: the ECB is quick to hike, but slow to ease. Similarly, while other players and … attached to the euro area’s official competitive wage-repression strategy, which is in conflict with the ECB's price stability …

This study assesses the European Central Bank’s (ECB) crisis management performance and potential for crisis resolution …. The study investigates the institutional and functional constraints that delineate the ECB’s scope for policy action under … that the ECB may well stand out positively when compared to other important euro-area or national authorities involved in …

Union to survive, rather than to disparities in the level of competitiveness among countries of the Eurozone. This crisis of … working as lender of last resort for the euro area member States; indeed, only when the ECB took this responsibility by …

supervision in the eurozone, the question of centralizing ELA within the ECB also arises … both the macro-level – through the European Central Bank (ECB) – and also for individual credit institutions in the guise … framework in which the ECB and the NCBs carry out their respective roles as LOLR. The question of who holds competence for …

, as bank bonds are still considered eligible collateral for monetary policy main refinancing operations. Against this … ECB's market operations. In doing that we will assess whether — and to what extent — the ECB is potentially bearing the … prudential requirements. In the meantime, the European Central Bank (“ECB”) is playing a prominent role in the secondary market …

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 …

This paper offers an encompassing analysis of the ECB's collateral criteria between 2001 and 2013. A comprehensive … three stylized facts: (1) Since the outbreak of the financial crisis, the ECB has been six times more active in collateral … policy making than in the seven years before. Thereby, the ECB broadened the eligible collateral pool both (2) at the …

In this paper, I analyze the impact of the extension of the ECB s collateral framework on securities sales. In addition … lead to fire sales adversely impacting other financial institutions. I find clear evidence that the ECB s collateral …