This report elucidates the risk channels for EU economies associated with international financial integration and provides an overview of the macroprudential policy options that are available to address these risks.1 It builds on the main insights from the rich academic literature developed...

This report elucidates the risk channels for EU economies associated with international financial integration and provides an overview of the macroprudential policy options that are available to address these risks. It builds on the main insights from the rich academic literature developed...

Since the European Central Bank’s (ECB’s) 2003 strategy review, the importance of macro-financial amplification channels for monetary policy has increasingly gained recognition. This paper takes stock of this evolution and discusses the desirability of further incremental enhancements in the...

One of the key features of regulatory-supervisory reform thinking post 2006-2007 Global Financial (nee US Subprime Mortgage) Crisis is emergence and popularisation of the ‘systemic' theme. In a similar vein, talks of ‘too interconnected to fail' superseding ‘too big to fail' widely...