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Economic Governance in the Euro Area : Balancing Risk Reduction and Risk Sharing
Balassone, Fabrizio - 2016
The unchecked build-up of imbalances during the 2000s exposed the euro area to the risk of sudden stops. Such risk materialized in 2009-10 and its consequences were amplified by the absence of adequate institutions. Europe embarked on a thorough process of reforming its economic governance. We...
Persistent link: https://www.econbiz.de/10012980035
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Preventing a New Global Financial Crisis Amidst the Current 'Inflation Crisis' and the Spring 2023 Bank Failure Episodes
Gortsos, Christos - 2023
US) investment banks and their subsequent, in most cases, bail-out by public funds – and on the real sector of the …
Persistent link: https://www.econbiz.de/10014354197
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The SSM at 1
Laeven, Luc; Draghi, Mario; Dombret, Andreas R.; … - SUERF - The European Money and Finance Forum; Deutsche …; … - 2016
On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...
Persistent link: https://www.econbiz.de/10011557140
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Beyond International Standards : Mapping the Future of Capital Markets Regulation
Jordan, Cally - 2018
As a response to multiple financial shocks, international standards have disappointed. Consensus-seeking has stifled innovation, perpetuating outdated regulatory concepts at a time of rapid market change. Different forces are at work now. Markets are complex and idiosyncratic; they may not be...
Persistent link: https://www.econbiz.de/10012910271
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The credit quality channel : modeling contagion in the interbank market
Fink, Kilian; Krüger, Ulrich; Meller, Barbara; Wong, … - 2015
We propose an algorithm to model contagion in the interbank market via what we term the credit quality channel. In … existing models on contagion via interbank credit, external shocks to banks often spread to other banks only in case of a … questions. For that purpose, we propose to measure the potential cost of contagion of a given shock scenario by the aggregated …
Persistent link: https://www.econbiz.de/10011381702
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Monetary policy implementation in an interbank network : effects on systemic risk
Bluhm, Marcel; Faia, Ester; Krahnen, Jan Pieter - 2014
multiple bank defaults driven by common shock exposure on asset markets, direct contagion via the interbank market, and …
Persistent link: https://www.econbiz.de/10010337579
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Origins and resolution of financial crises : lessons from the current and Northern European crises
Ostrup, Finn; Oxelheim, Lars; Wihlborg, Clas - 2009
financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of … that a financial crisis with its contagion within the system is caused by failures of legal, regulatory and political … crises would be reduced if appropriate institutions could be put in place Lacking appropriate institutions to avoid contagion …
Persistent link: https://www.econbiz.de/10003843236
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Origins and Resolution of Financial Crises; Lessons from the Current and Northern European Crises
Ostrup, Finn - 2011
financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of … that a financial crisis with its contagion within the system is caused by failures of legal, regulatory and political … crises would be reduced if appropriate institutions could be put in place Lacking appropriate institutions to avoid contagion …
Persistent link: https://www.econbiz.de/10013134667
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European Deposit Insurance and Resolution in the Banking Union
Gros, Daniel - 2014
Since the European Council of June 2012, ‘Banking Union' is a key item for the EU's policy agenda. This contribution outlines the state of the policy debate – identifying the elements that are missing but important from a theoretical viewpoint. We make concrete proposals as to how the...
Persistent link: https://www.econbiz.de/10013066150
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Banking Supervision and Resolution : The European Dimension
Schoenmaker, Dirk - 2013
Both theory (game theory) and practice (recent financial crisis) indicate that national interests prevail in cross-border resolution. National authorities aim for the least-cost solution for domestic taxpayers. This results in an undersupply of the public good of global financial stability....
Persistent link: https://www.econbiz.de/10013091845