The importance of collateral as an instrument for monetary policy has increased in recent years not only in the light of the changes in the ECB's collateral framework during the crisis but also due to the progressive replacement of the unsecured money market segment with the secured one in the...

The notes in this compilation provide an indication of the possible economic and financial impact of Brexit on the euro-area/EU economy. Notwithstanding the potential adverse effects, Brexit could also provide an opportunity for far-reaching reform to the euro area governance. The notes have...

The notes in this compilation assess the implications and risks stemming from persistent fragmentation of euro area financial markets for the transmission of monetary policy and discuss feasible policy options which may be effective in reducing this fragmentation. The papers prepared by the...

The notes in this compilation assess the implications and risks stemming from persistent fragmentation of euro area financial markets for the transmission of monetary policy and discuss feasible policy options which may be effective in reducing this fragmentation. The papers prepared by the...

At the press conference following the ECB Governing Council meeting of 3 December 2015, the President of the ECB Mario Draghi reiterated the readiness of the ECB to adopt, if necessary, additional measures - in terms of size, composition and duration of the of the asset purchase programme EAPP -...

The notes in this compilation provide an indication of the possible economic and financial impact of Brexit on the euro-area/EU economy. Notwithstanding the potential adverse effects, Brexit could also provide an opportunity for far-reaching reform to the euro area governance. The notes have...

At the press conference following the ECB Governing Council meeting of 3 December 2015, the President of the ECB Mario Draghi reiterated the readiness of the ECB to adopt, if necessary, additional measures - in terms of size, composition and duration of the of the asset purchase programme EAPP -...

The notes in this compilation review the main features (size, structure, etc.) of sovereign bond markets in euro area Member States and discuss, in the relation to expanded asset purchase programme (EAPP) of the ECB, the financial risks the Eurosystem is potentially taking on its balance sheet...