are many reasons behind this dislocation, since 2014 the divergence in monetary policy between the euro area and the … currency basis. The downward pressure on yields, exerted by the APP, has made euro assets less attractive and has led investors … corporate issuers to the euro market in search of cheaper funding costs. These cross-border flows from issuers and investors …

euro area and for supervising all euro area banks in order to ensure their safety and soundness, some directly and some …