De Grauwe, Paul (contributor); Ji, Yuemei (contributor); … - European Parliament / Directorate-General for Internal …; … - 2017
According to the ECB, the recent rise in TARGET 2 balances could be seen as the result of the decentralised implementation of the extended asset purchase programme (APP). The programme entails cross-border payments by the purchasing NCBs, with around 50% of involved counterparties resident...