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Liste der Veröffentlichungen des Think Tank des EP
https://www.europarl.europa.eu/thinktank
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Schlagwortliste "Währungskrise"
126 Ergebnisse
Erstellungsdatum : 26-02-2022EU economic developments and projections
Art der Veröffentlichung
Briefing
Kalenderdatum
16-02-2022
Verfasser
GRIGAITE KRISTINA | TEIXEIRA DA CUNHA INES | VEGA BORDELL Javier María
Politikbereich
Coronavirus | Wirtschaft und Währung
Schlagwortliste
Bruttoinlandsprodukt | einheitliche Währungspolitik | Eurostat | Inflation | konjunkturelle Erholung | Statistik der EU |
Steuerpolitik | Wirtschaftslage | Wirtschaftsprognose | Währungskrise
Zusammenfassung This briefing provides a summary of the recent economic developments in the EU Member States and gives an
overview of relevant economic projections forecasted by major international and EU institutions
Briefing EN
Thematic digest: Non-performing loans and asset management companies
Art der Veröffentlichung Briefing
Kalenderdatum 19-03-2021
Verfasser GOTTI GIULIA | GRIGAITE KRISTINA | KOMAZEC KATJA | MAGNUS Marcel | PACHECO DIAS CRISTINA SOFIA |
SEGALL REBECCA SARAH FANNY
Politikbereich Coronavirus | Wirtschaft und Währung
Schlagwortliste Bank | Banksystem | Coronavirus-Erkrankung | Darlehen | Epidemie | Finanzsystemstabilität |
Kapitalanlagegesellschaft | konjunkturelle Erholung | Kreditinstitut | Währungskrise
Zusammenfassung This document presents summaries of seven external papers commissioned by the European Parliament in November
2020 upon request of the Economic and Monetary Committee (ECON). Papers were delivered, analysed and
published in March 2021. ECON has requested its Banking Expert Panel to address the topic of “Non-performing
Loans – New Risks and Policies”.
Briefing EN
Non-performing Loans - New risks and policies? NPL resolution after COVID-19
Art der Veröffentlichung
Studie
Kalenderdatum
15-03-2021
Externe Autor
J. Kasinger, J.P. Krahnen, S. Ongena, L. Pelizzon, M. Schmeling, M. Wahrenburg
Politikbereich
Coronavirus | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Bank | Bankenaufsicht | Banksystem | Coronavirus-Erkrankung | Darlehen | Epidemie | Finanzsystemstabilität |
Kreditinstitut | Währungskrise | Zahlungsfähigkeit
Zusammenfassung This paper discusses policy implications of a potential surge in NPLs due to COVID-19. The study provides an
empirical assessment of potential scenarios and draws lessons from previous crises for effective NPL treatment. The
paper highlights the importance of early and realistic assessment of loan losses to avoid adverse incentives for banks.
Secondary loan markets would help in this process and further facilitate bank resolution as laid down in the BRRD,
which should be uphold even in extreme scenarios.
Studie EN
Non-performing Loans - New risks and policies? NPL resolution after COVID-19
Art der Veröffentlichung
Studie
Kalenderdatum
15-03-2021
Externe Autor
J. Haynes, P.Hope, H. Talbot
Politikbereich
Coronavirus | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Banksystem | Coronavirus-Erkrankung | Darlehen | Epidemie | Finanzsystemstabilität | Geldversorgung | konjunkturelle
Erholung | Konkurs | Währungskrise | Zahlungsfähigkeit
Zusammenfassung The COVID-19 crisis is a significant and exogenous shock to the EU corporate sector, with implications for the
operations and funding of many businesses. We compare key indicators for the global financial crisis (GFC) and the
current situation, and assess implications for the policy response. We find that while many policy actions taken in
response to the GFC remain valid, the nature of COVID-19 suggests a more tailored response is appropriate, with
support focused on sectors most directly affected and corporates whose continuation value exceeds their liquidation
value.
Studie EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 1Non-performing Loans - New risks and policies? NPL resolution after COVID-19
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum12-03-2021
Externe Autor
A. C. Bertay, H. Huizinga
Politikbereich
Coronavirus | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Bank | Bankenaufsicht | Banksystem | Coronavirus-Erkrankung | Darlehen | Epidemie | Finanzsystemstabilität |
konjunkturelle Erholung | Kreditgarantie | Währungskrise
Zusammenfassung This paper reviews the main differences between the prospects for NPL build-up and resolution between the current
pandemic and the financial crisis of 2008-2009. To facilitate NPL reduction following the pandemic, the ECB should
actively counter the revealed tendency of banks with low profitability to implement relatively low loan loss provisions.
Eingehende Analyse EN
When and how to unwind COVID-support measures to the banking system?
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum12-03-2021
Externe Autor
T. Tröger, R. Haselmann
Politikbereich
Coronavirus | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Bankenaufsicht | Banksystem | Coronavirus-Erkrankung | Epidemie | europäische Bankenunion |
Finanzsystemstabilität | Krisenmanagement | Liquidität | Währungskrise | Zahlungsfähigkeit
Zusammenfassung This in-depth analysis proposes ways to retract from supervisory COVID-19 support measures without perils for
financial stability. It simulates the likely impact of the corona crisis on euro area banks’ capital and predicts a significant
capital shortfall. We recommend to end accounting practices that conceal loan losses and sustain capital relief
measures. Our in-depth analysis also proposes how to address the impending capital shortfall in resolution/liquidation
and a supranational recapitalisation.
Eingehende Analyse EN
Non-performing loans - new risks and policies? What factors drive the performance of national asset
management companies?
Art der Veröffentlichung
Studie
Kalenderdatum
09-03-2021
Externe Autor
E. Avgouleas, R. Ayadi, M. Bodellini, B. Casu, W. P. De Groen, G. Ferri
Politikbereich
Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Banksystem | Darlehen | Finanzsystemstabilität | Förderkriterium | Kapitalanlagegesellschaft | Kreditinstitut | Liquidität |
staatliche Beihilfe | Währungskrise | Zahlungsfähigkeit
Zusammenfassung In the past decade, asset management companies (AMCs) have been an effective tool for relieving banks of large
portfolios of non-performing loans (NPLs). Managed over time, AMCs can reduce the financial burden on the overall
system.
This paper is based on the existing literature and EU experiences of national AMCs created in the aftermath of the
global financial crisis. It discusses the advantages and disadvantages of using AMCs, and considers the key elements
in their design.
Studie EN
Non-performing Loans – Different this Time? NPL resolution after COVID-19
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum05-03-2021
Externe Autor
Jakob DE HAAN
Politikbereich
Coronavirus | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Bank | Banksystem | Coronavirus-Erkrankung | Darlehen | die Niederlande | Epidemie | Fallstudie | konjunkturelle
Erholung | Kreditgarantie | Steuerabzug | Währungskrise
Zusammenfassung Model estimates of NPLs of a large sample of banks in the euro area suggest that macro-economic factors drive NPLs.
This implies that the NPL-ratio may not increase in a similar fashion as after the global financial crisis. However, the
low fit of the model shows that idiosyncratic factors play a major role in explaining NPLs. This is illustrated in a case
study for the Netherlands which suggests that deferred tax payments may lead to increasing NPLs.
This paper was prepared by the Economic Governance Support Unit (EGOV) at the request of the Committee on
Economic and Monetary Affairs (ECON).
Eingehende Analyse EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 2When and how to unwind COVID-support measures to the banking system?
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum04-03-2021
Externe Autor
A. Lehmann, Bruegel
Politikbereich
Coronavirus | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Bankenaufsicht | Banksystem | Coronavirus-Erkrankung | Darlehen | Epidemie | Euro-Währungsgebiet | Europäische
Bankenaufsichtsbehörde | Europäische Zentralbank | Kreditgarantie | Rezession | Risikomanagement | Währungskrise
Zusammenfassung This paper examines regulatory measures and supervisory practices that have supported public guarantee schemes
and moratoria in euro-area countries. The focus is on flexibility shown with regard to default classifications, accounting
practices and the treatment of non-performing loans. The paper identifies a number of undesirable effects and
examines how soon such policies can be normalised.
This document was provided by the Economic Governance Support Unit at the request of the ECON Committee.
Eingehende Analyse EN
Monetary Policy During the Pandemic: Fit for Purpose?
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum01-03-2021
Externe Autor
Christophe BLOT, Caroline BOZOU, Jérôme CREEL
Politikbereich
Coronavirus | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Coronavirus-Erkrankung | einheitliche Währungspolitik | Epidemie | Euro-Währungsgebiet | Europäische Zentralbank |
finanzielles Risiko | Finanzsystemstabilität | Inflation | Makroökonomie | wirtschaftliche Auswirkung | Währungskrise |
Zentralbank
Zusammenfassung This contribution reviews the ECB measures since the start of the COVID-19 crisis, i.e. the extension of APP and the
introduction of PEPP. We show that APP announcements have helped steer inflation expectations upward. We also
show that PEPP has alleviated fragmentation risk. Finally, we show that since the mid-2000s, ECB measures have had
real effects on euro area unemployment rates, nominal effects on inflation rates and financial effects on banking
stability.
This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of
the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on
18 March 2021.
Eingehende Analyse EN
Slowing down or changing track? Understanding the dynamics of 'Slowbalisation'
Art der VeröffentlichungEingehende Analyse
Kalenderdatum 03-12-2020
VerfasserKONONENKO Vadim | NAVARRA Cecilia | STAMEGNA CARLA | TITIEVSKAIA Jana | ZUMER KLEMEN
PolitikbereichCoronavirus | Finanz- und Bankenangelegenheiten | Gleichstellungsfragen, Gleichheit und Vielfalt | Industrie |
Internationaler Handel | Sozialpolitik | Vorausplanung
Schlagwortliste Coronavirus-Erkrankung | digitale Technologie | digitale Wirtschaft | Epidemie | Globalisierung | internationale
Wirtschaft | internationale Zusammenarbeit | internationaler Handel | wirtschaftliche Zusammenarbeit | Währungskrise
Zusammenfassung Slowbalisation – understood as the slowdown in global integration – is said to have started in the aftermath of the
global financial crisis of 2007-2008. The coronavirus pandemic brought about a further dramatic fall in cross-border
movement of goods, services, capital and people, to the extent that commentators have proclaimed the beginning of
deglobalisation. This paper examines whether the phenomenon described as slowbalisation is myth or reality, by
looking at five different pathways of globalisation: international trade, financial openness, increasing inequality, cross-
border social movement, and digital exchanges. The key conclusion is that slowbalisation has not been a uniform
trend. While international economic globalisation has indeed slowed, the 'digital leap' and continued inequality suggest
that globalisation is merely changing form, not disappearing.
Eingehende Analyse EN
Multimedia Slowing down or changing track? Understanding the dynamics of 'Slowbalisation'
The Financial Stability Board (FSB). An overview of the work for 2020
Art der Veröffentlichung Briefing
Kalenderdatum 20-11-2020
Verfasser GRIGAITE KRISTINA | LARA MIRANDA ISABEL | MAGNUS Marcel | PACHECO DIAS CRISTINA SOFIA | SEGALL
REBECCA SARAH FANNY
Politikbereich Coronavirus | Wirtschaft und Währung
Schlagwortliste Coronavirus-Erkrankung | Epidemie | Finanzaufsicht | finanzielle Intervention | finanzielles Risiko | Finanzpolitik |
Finanzsystemstabilität | G20 | internationale Organisation | Währungskrise
Zusammenfassung The briefing provides an overview of the latest work by the Financial Stability Board (FSB). It first addresses the FSB
as an institution, its mandate, members and governance arrangements, and second, outlines its current work. This
paper builds and updates an earlier version.
Briefing EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 3G20 Summit of November 2020: Great expectations despite boycott calls
Art der Veröffentlichung
Briefing
Kalenderdatum
19-11-2020
Verfasser
ZAMFIR Ionel
Politikbereich
Auswärtige Angelegenheiten | Coronavirus
Schlagwortliste
G20 | Gipfeltreffen | internationale Sanktion | internationale Zusammenarbeit | konjunkturelle Erholung |
Menschenrechte | Menschenrechtsbewegung | Saudi-Arabien | wirtschaftliche Zusammenarbeit | Währungskrise
Zusammenfassung On 21-22 November, under Saudi Arabia's presidency, the G20 will hold its first regular summit in a virtual format.
Unavoidably the focus will be on the current crisis, more specifically on protecting lives and livelihoods and restoring
growth. Given the crucial role it played in tackling the 2008-2009 financial crisis, hopes are high regarding the G20's
potential role in proposing a financial and economic solution to deal with the ongoing downturn. Several major G20
members have invested massive amounts of money to keep their economies afloat, in line with the decision of the
extraordinary G20 summit held in the spring, but the depth of the current crisis requires additional action. Some critics
have argued that the G20 is not up to its perceived role. The lack of US leadership in particular has been seen as an
obstacle preventing the group from living up to its full potential. One of the crucial measures adopted by the G20 has
been to freeze the official debt payments of developing countries, with the measure recently being extended. Many
voices consider that this will not be enough to avoid state defaults however. Saudi Arabia, the first Arab country to hold
the presidency, has been eager to use the opportunity provided by its G20 presidency to showcase its ambitious
internal reform programme and its economic potential. The Saudis' leadership of the G20 in these times of turmoil has
not escaped criticism, first of all because of the perceived inconsistency between stated objectives at G20 level and
internal reality in the country, but also because of the role the country played in the oil price crash of 2020. Given the
dire human rights situation in Saudi Arabia and in its fighting in Yemen, calls for a boycott of the summit have been
multiplying. The European Parliament has suggested that the EU should downgrade its presence at the summit.
Briefing EN
Rethinking Monetary and Fiscal Policy in the Post-COVID Euro Area
Art der Veröffentlichung Eingehende Analyse
Kalenderdatum 18-11-2020
Externe Autor Luigi BONATTI, Andrea FRACASSO, Roberto TAMBORINI
Politikbereich Wirtschaft und Währung
Schlagwortliste Beistandsmechanismus | Coronavirus-Erkrankung | Epidemie | Euro-Währungsgebiet | Eurosystem | Inflation |
Liquidität | Steuerpolitik | Währungskrise | Zahlungsfähigkeit | öffentliche Schulden
Zusammenfassung In the post-COVID environment, the ECB might face many and related trade-offs associated with the risk of being
dominated by policy concerns other than price stability. Most of these risks could be reduced by a revision of the euro
area governance framework, the creation of a new mechanism to provide financial assistance, and the implementation
of a one-off intervention to reduce the exposure of the Eurosystem towards the euro area sovereign debts.
This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the
request of the Committee on Economic and Monetary Affairs (ECON). ahead of the Monetary Dialogue with the ECB
President on 19 November 2020.
Eingehende Analyse EN
Uncertainty in the Euro Area During the First Wave of the COVID-19 Pandemic
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum18-11-2020
Externe Autor
Atanas PEKANOV, Stefan SCHIMAN
Politikbereich
Coronavirus | Wirtschaft und Währung
Schlagwortliste
Antikrisenplan | Coronavirus-Erkrankung | Epidemie | Euro-Währungsgebiet | Finanzsystemstabilität | Inflation |
konjunkturelle Arbeitslosigkeit | Steuerpolitik | wirtschaftliche Auswirkung | Währungskrise
Zusammenfassung Uncertainty - a state in which assessing future conditions by economic agents is hampered - rose sharply during the
current pandemic. A bout of uncertainty can have similar effects like an adverse demand shock, dampening private
consumption, investment and, hence, inflation. According to our own estimations, however, the pandemic-induced
spike of uncertainty has caused little macroeconomic damage so far. The introduction of PEPP was a quick and
decisive action that stopped uncertainty from rising further and probably contained its adverse economic effects.
This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the
request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB
President on 19 November 2020.
Eingehende Analyse EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 4Go Big or Go Home? The ECB’s Asset Purchase Programmes in Macroeconomic Perspective
Art der Veröffentlichung
Studie
Kalenderdatum 30-09-2020
Externe AutorPierre L. SIKLOS
Politikbereich
Bewertung von Rechtsvorschriften und politischen Maßnahmen in der Praxis | Coronavirus | Finanz- und
Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste einheitliche Währungspolitik | Euro-Währungsgebiet | Europäische Währung | Finanzaufsicht | Finanzsystemstabilität |
Währungskrise
Zusammenfassung Until this year, governments in the single currency area appeared to be ‘missing in action’. There is belated recognition
that monetary and fiscal policies must coordinate especially in crisis conditions. The euro area has experienced crisis
or near crisis conditions for over a decade. Lessons are being learned late but there continue to be several gaps that
the euro area and its members need to close. The paper highlights these and the continuing threats to the single
currency area.
This document was provided by Policy Department A at the request of the Committee on Economic and Monetary
Affairs (ECON).
Studie EN
The ECB in the COVID-19 Crisis: Whatever it Takes, Within its Mandate
Art der VeröffentlichungEingehende Analyse
Kalenderdatum 15-05-2020
Externe Autor Grégory CLAEYS
PolitikbereichCoronavirus | Demokratie in der EU, institutionelle und parlamentarische Rechte | EU-Recht: Rechtsordnung und
Rechtsakte | Wirtschaft und Währung
Schlagwortliste Coronavirus-Erkrankung | Epidemie | Euro-Währungsgebiet | Europäische Zentralbank | Europäisches
Zentralbanksystem | Geldpolitik | Inflation | Marktregulierung | Preisstabilität | Rezession | Währungskrise
Zusammenfassung To keep the euro-area economy afloat, the European Central Bank (ECB) has announced a large number of measures
since the beginning of the COVID-19 crisis. This response has triggered fears of a future increase in inflation. We
discuss the risks that the ECB is unable to fulfil its price-stability mandate, and also whether these new measures
respect legal limits set by the EU Treaties. We conclude that the measures introduced by the ECB during the crisis and
the resulting increase in the size of its balance sheet, even if it were to be permanent, should not restrict its ability to
achieve its price-stability mandate in the future, within its legal obligations.
This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the
request of the committee on Economic and Monetary Affairs.
Eingehende Analyse EN
How has the macro-economic imbalances procedure worked in practice to improve the resilience of the
euro area?
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum14-04-2020
Externe Autor
Alexander KRIWOLUZKY, Malte RIETH
Politikbereich
Wirtschaft und Währung
Schlagwortliste
Antikrisenplan | Banksystem | Beistandsmechanismus | Euro-Währungsgebiet | Finanzsystemstabilität |
Makroökonomie | Rezession | wirtschaftliche Disparität | Währungskrise
Zusammenfassung This paper analyses the effects of the implementation of the Macroeconomic Imbalance Procedure (MIP) on the
macroeconomic performance of countries in the EU and the euro area. We find that the introduction of the MIP led to a
decline in current account imbalances and private sector debt and credit flows, but that the overall effects are limited.
To strengthen the MIP, we support the introduction of the Budgetary Instrument for Convergence and
Competitiveness, i.e. a fund that pays grants, conditional on the implementation progress of economic reforms..
Eingehende Analyse EN
Macroeconomic Imbalances Procedure: has it worked in practice to improve the resilience of the euro
area?
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum24-02-2020
Externe Autor
Lorenzo CODOGNO
Politikbereich
Wirtschaft und Währung
Schlagwortliste
Euro-Währungsgebiet | Finanzaufsicht | Finanzsystemstabilität | Haushaltsdefizit | Makroökonomie | Rezession |
wirtschaftliche Disparität | Wirtschaftspolitik | Währungskrise | öffentliche Schulden
Zusammenfassung The main aim of the paper is to assess the contribution of the Macroeconomic Imbalance Procedure (MIP) to its
original objectives. It analyses whether the European Union and the Euro Area are today better equipped to identify
and prevent unsustainable macroeconomic developments in the future. It provides an overview of how the MIP has
worked in practice. It presents some stylised trends in macro variables and how the procedure tracks them. It provides
a counterfactual exercise on how the procedure would have helped to address the underlying problems in those
Member States that required financial assistance during the financial and economic crisis. The main policy
recommendations of the study are that some re-tooling of the MIP is necessary and that increasing its ownership at the
national level is essential.
Eingehende Analyse EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 5Communication During Unconventional Times: The ECB’s Approach
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum15-01-2020
Externe Autor
Eddie GERBA and Corrado MACCHIARELLI
Politikbereich
Wirtschaft und Währung
Schlagwortliste
Antikrisenplan | einheitliche Währungspolitik | Europäische Zentralbank | Inflation | Transparenz des
Entscheidungsprozesses | wirtschaftliche Auswirkung | Wirtschaftsprognose | Währungskrise
Zusammenfassung During the past five years, communication of the ECB has changed drastically, not least with the introduction of
forward guidance. Against this backdrop, this note assesses how successful the central bank has been in influencing
financial markets and expectations and discusses the challenges for future ECB communication.
This document was provided by Policy Department A at the request of the Committee on Economic and Monetary
Affairs.
Eingehende Analyse EN
Financial Stability in the Euro Area
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum15-01-2020
Externe Autor
Salomon FIEDLER, Klaus-Jürgen GERN
Politikbereich
Wirtschaft und Währung
Schlagwortliste
Bankenaufsicht | einheitliche Währungspolitik | Euro-Währungsgebiet | europäische Bankenunion | Finanzaufsicht |
finanzielles Risiko | Finanzsystemstabilität | Steuerpolitik | Währungskrise | Zins
Zusammenfassung Risks to financial stability in the euro area appear to be contained for the time being, but could be substantial in the
longer run. The European financial system is still not crisis-proof. We argue that a deposit insurance schemes are not
a good option to increase overall financial stability and higher equity ratios for banks are the appropriate approach to
make the financial system safer.
This document was provided by Policy Department A at the request of the Committee on Economic and Monetary
Affairs.
Eingehende Analyse EN
The ECB’s Communication Strategy: Limits and Challenges After the Financial Crisis
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum15-01-2020
Externe Autor
Kerstin BERNOTH and Geraldine DANY-KNEDLIK
Politikbereich
Wirtschaft und Währung
Schlagwortliste
Bankenaufsicht | Europäische Zentralbank | Geldpolitik | Inflation | Informationszugang | Preisstabilität | Public relations
| Verwaltungstransparenz | Währungskrise | öffentliche Meinung
Zusammenfassung Given its central role in public accountability and in the formation of expectations, it is important to reflect on ways to
improve the ECB’s communication policy. Communication should not generally strive for maximum transparency. The
optimum degree of transparency varies between different aspects of monetary policy and banking supervision.
Although the ECB already communicates very openly with the public and achieves a very high level of transparency in
all aspects, we see room for improvement in its communication strategy in several respects.
This document was provided by Policy Department A at the request of the Committee on Economic and Monetary
Affairs.
Eingehende Analyse EN
Financial Stability Risks and Policy Options
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum15-01-2020
Externe Autor
Christophe BLOT, Jérôme CREEL and Paul HUBERT
Politikbereich
Wirtschaft und Währung
Schlagwortliste
Bankenaufsicht | finanzielles Risiko | Finanzsystemstabilität | Geldpolitik | Hypothek | Unterkunft | Wertpapierbörse |
Währungskrise | Zahlungsfähigkeit | Zins
Zusammenfassung We pay special attention to the different types of financial risk discussed in the public debate: equity, housing,
corporate debt, public debt sustainability, and banks and insurance companies’ profits. Our assessment does not point
to significant risks in the euro area even if attention should be drawn on some local or specific market segments. Even
if monetary policy may not be the most appropriate tool to dampen these risks, the ECB has still some policy options to
respond to an economic slowdown.
This document was provided by Policy Department A at the request of the Committee on Economic and Monetary
Affairs.
Eingehende Analyse EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 6Financial Risks in Europe: The End of the Beginning
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum15-01-2020
Externe Autor
Christopher A. HARTWELL
Politikbereich
Wirtschaft und Währung
Schlagwortliste
Euro-Währungsgebiet | finanzielles Risiko | Finanzsystemstabilität | Geldpolitik | internationale Wirtschaft |
Makroökonomie | Rezession | Wirtschaftspolitik | Währungskrise
Zusammenfassung It appears that recession may be on the way for the EU as a whole and the euro area in particular. Having used all of
its instruments in the previous crisis, the European Central Bank has little left that can be helpful when the inevitable
happens. This brief examines the financial risks facing the euro area and details how flexibility and non-intervention –
the direct opposite approach from the global financial crisis – should characterise the response to the next crisis.
This document was provided by Policy Department A at the request of the Committee on Economic and Monetary
Affairs.
Eingehende Analyse EN
A decade on from the financial crisis: Key data
Art der Veröffentlichung Briefing
Kalenderdatum 17-10-2019
Verfasser CLAROS GIMENO Eulalia | SZCZEPANSKI Marcin
Politikbereich Finanz- und Bankenangelegenheiten
Schlagwortliste Wirtschaftspolitik | wirtschaftsstatistische Erhebung | Währungskrise
Zusammenfassung The financial crisis began with the collapse of Lehman Brothers, starting a worldwide chain reaction. The EU economy
contracted for five consecutive quarters, with growth returning only in the second half of 2009. Stimulatory and fiscal
actions by national governments and the EU, and the Eurosystem's loose monetary policy, helped achieve recovery. It
was short-lived, however, as in 2010 a sovereign debt crisis resulted from a loss of financial market confidence, with
soaring public debt. Yields on government bonds, particularly in the periphery countries, rose dramatically. Ad hoc
rescue devices, such as the European Financial Stabilisation Mechanism, brought the situation under control, later
supported by the pledge of European Central Bank President Mario Draghi to do 'whatever it takes' to save the euro.
The acute phase of the crisis ended in 2014, followed by a period of extremely low inflation and weak growth. To boost
inflation, facilitate bank lending and stimulate the economy, the Eurosystem relied increasingly on quantitative easing.
While 2017 was the EU's best year since the crises, with economic performance returning to pre-crisis levels, recent
data suggest that the momentum is weakening, both in and outside the EU.
Briefing EN
A decade on from the crisis: Main responses and remaining challenges
Art der Veröffentlichung Briefing
Kalenderdatum 17-10-2019
Verfasser SZCZEPANSKI Marcin
Politikbereich Wirtschaft und Währung
Schlagwortliste Wirtschaftspolitik | wirtschaftsstatistische Erhebung | Währungskrise
Zusammenfassung It has been a decade since the financial crisis erupted and changed the world in 2008. Few at the time guessed what
would be its magnitude and long-term consequences. The interconnectedness of the economy and the financial sector
facilitated the spread of the crisis from the United States to Europe. First, the EU faced the Great Recession in the
2008-2009 period and then, after a short recovery, several Member States succumbed to the sovereign debt crisis.
The combined crises had catastrophic consequences for economic growth, investment, employment and the fiscal
position of many Member States. The EU engaged in short-term 'fire-fighting' measures such as bailouts to save banks
and help stressed sovereigns, while at the same time reforming the inadequate framework. While signs of moderate
recovery showed in 2014, the risk of falling into deflation or secular stagnation remained high, and it was only in 2017
that the EU economy returned to a state similar to that of before the crisis. The signs in 2019 are not so promising
however. Many efforts have been made to improve resilience in the EU and the euro area. These have included
improving the stability of the financial sector, strengthening economic governance, creating a safety net for sovereigns
in distress and carrying out structural reforms, particularly in the countries most affected. In addition, the European
Central Bank (ECB) has taken unconventional policy measures. Nonetheless many argue that the pace of the reforms
has slowed down considerably since 2013 when the economic situation began to improve. The legacy of the crisis is
still present and many challenges persist. These include the absence of a clear and agreed vision for the future of
economic and monetary union (EMU), perennial macroeconomic imbalances and high public deficits in a number of
Member States, and the ongoing risk of a doom loop between sovereigns and the banking sector. Post crisis
vulnerabilities also include rising inequalities, youth unemployment and high in-work poverty risk levels. See also our
infographic, A decade on from the financial crisis: Key data, PE 640.145.
Briefing EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 7Monetary Policy in the Euro Area after Eight Years of Presidency of Mario Draghi: Where Do We Stand?
Art der VeröffentlichungEingehende Analyse
Kalenderdatum 16-09-2019
Externe Autor Salomon FIEDLER and Klaus-Jürgen GERN
PolitikbereichBewertung von Rechtsvorschriften und politischen Maßnahmen in der Praxis | Finanz- und Bankenangelegenheiten |
Wirtschaft und Währung
Schlagwortliste Euro-Währungsgebiet | Europäische Zentralbank | Geldpolitik | Inflation | Wirtschaftslage | Währungskrise
Zusammenfassung Against the backdrop of slowing growth and subdued inflation in the euro area, we address the question to what extent
additional monetary stimulus can be expected from the ECB if needed. We find that “more of the same” policies will
probably not be effective and that there are no attractive alternatives there. After more than ten years of exceptionally
loose monetary policy it is now the turn of fiscal and structural policies to reinvigorate the European economies.
Eingehende Analyse EN
Amending capital requirements: The 'CRD-V package'
Art der Veröffentlichung
Briefing
Kalenderdatum 30-07-2019
Verfasser
STAMEGNA CARLA
Politikbereich
Annahme von Rechtsvorschriften durch das EP und den Rat | Finanz- und Bankenangelegenheiten | Wirtschaft und
Währung
Schlagwortliste Finanzdienstleistungen | Finanzhilfe | finanzielle Intervention | Kapitalanlagegesellschaft | kleine und mittlere
Unternehmen | Kreditinstitut | Liquiditätskontrolle | Richtlinie (EU) | Stabilisierung der Wirtschaft | Unternehmen in
Schwierigkeiten | Vorschlag (EU) | Währungskrise | Zahlungsfähigkeit | Zins
Zusammenfassung In May 2019, the European Parliament and the Council (the co-legislators) adopted the legislative proposals amending
the Capital Requirements Directive and Regulation, which establish the prudential framework for financial institutions
operating in the EU. The amendments implement the most recent regulatory standards for banks, set at international
level ('Basel III framework'). They also address some regulatory shortcomings and aim to contribute to sustainable
bank financing of the economy. The final acts were published in the Official Journal on 7 June 2019. The new
provisions will for the most part apply as of 2021. Fourth edition. The 'EU Legislation in Progress' briefings are updated
at key stages throughout the legislative procedure.
Briefing EN
Sovereign Debt Restructuring and Debt Mutualisation in the Euro Area: An Assessment
Art der Veröffentlichung Eingehende Analyse
Kalenderdatum 04-06-2019
Externe Autor S. Rossi
Politikbereich Europäisches Semester | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste Euro-Währungsgebiet | Schuldennachlass | Währungskrise | öffentlicher Schuldendienst
Zusammenfassung Existing proposals for reform in the euro area, including the introduction of an orderly sovereign debt restructuring
mechanism and of forms of debt mutualisation, rely on similar implicit or explicit assumptions: The “diabolic loop”
between sovereign debt and domestic banks is to be mitigated or avoided; market discipline has to be maintained; and
moral hazard has to be avoided. This paper discusses the stated goals of existing proposals, together with their likely
anticipated and unanticipated effects and trade-offs. It recognizes that several of these underlying assumptions and
frameworks are at odds with the extant empirical evidence. It concludes by setting forth a three-pronged proposal for
reform in the Euro Area. First, it is desirable to have a more explicit seniority structure in sovereign debt, which should
be achieved by introducing a junior class of risky sovereign bonds linked to nominal GDP growth. Second,
governments with high legacy debt and/or high deficits should be required to access new financing by issuing such
junior bonds. Third, the extent of fiscal stabilization and banking union in the Euro area should be increased.
Eingehende Analyse EN
Are the current “automatic stabilisers” in the Euro Area Member States sufficient to smooth economic
cycles?
Art der Veröffentlichung Eingehende Analyse
Kalenderdatum 27-05-2019
Externe Autor A.Fatas
Politikbereich Europäisches Semester | Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste Euro-Währungsgebiet | Konjunkturzyklus | Steuerpolitik | Währungskrise
Zusammenfassung Since 2008, and as the result of central banks reaching the zero-lower bound, fiscal policy has come back as a
potential, possibly primary, tool to stabilize business cycles. We present evidence that European countries have
historically relied on automatic stabilisers for counter-cyclical policies, while discretionary fiscal policy has been pro-
cyclical (unlike in the US). Pro-cyclical fiscal policies became so strong in the years 2010-14 that they completely
eliminated the benefits of automatic stabilisers. Looking forward, there are calls to strengthen automatic stabilisers. We
argue in this paper that without addressing the reasons behind the pro-cyclicality of discretionary policy, this cannot be
a solution. Strengthening automatic stabilisers faces similar challenges and trade-offs as proposals to make
discretionary policy more countercyclical.
Eingehende Analyse EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 8A Fiscal Capacity for the Eurozone: Constitutional Perspectives
Art der Veröffentlichung Eingehende Analyse
Kalenderdatum 15-02-2019
Externe Autor Federico Fabbrini, Professor of EU Law at Dublin City University (DCU) and Founding Director of the DCU Brexit
Institute
Politikbereich Demokratie in der EU, institutionelle und parlamentarische Rechte
Schlagwortliste Euro | Euro-Währungsgebiet | Stabilisierung der Wirtschaft | Steuerpolitik | Wirtschafts- und Währungsunion |
Währungskrise
Zusammenfassung This in-depth analysis, commissioned by the European Parliament’s Policy Department for Citizens’ Rights and
Constitutional Affairs at the request of the AFCO Committee, considers from a constitutional perspective the
introduction of a fiscal capacity for the Eurozone. After explaining the constitutional asymmetry of Economic &
Monetary Union, and surveying several recent proposals to establish a fiscal capacity, the in-depth analysis explains in
comparative perspective how other federal unions by aggregation such as the United States and Switzerland are
endowed with centralized fiscal stabilization tools and discusses how such a fiscal capacity could be established in the
Eurozone, considering issues of legal bases, governance and accountability, as well as possible windows of
opportunities to introduce it post-Brexit.
Eingehende Analyse EN
Exchange of views with Mrs Elke König, Chair of the Single Resolution Board
Art der Veröffentlichung
Briefing
Kalenderdatum
05-12-2018
Verfasser
DESLANDES JEROME JEAN PHILIPPE | MAGNUS Marcel | PACHECO DIAS CRISTINA SOFIA | PERAKI MARIA
Politikbereich
Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Ausschuss EP | Bankgeschäft | EU-Behörde | Fonds (EU) | Kapitalanlagegesellschaft | Kreditinstitut | Liquidität |
Präsident einer Institution | Unternehmen in Schwierigkeiten | Währungskrise
Zusammenfassung This briefing presents selected issues regarding the work of the Single Resolution Board (SRB) in advance of the
exchange of views with Mrs Elke König, Chair of the SRB, in ECON on 6 December 2018. The briefing thematically
covers the following: (i) Pending response to the EP 2017 Banking Union report, (ii) Updated information in the
resolution case of Banco Popular, including the Valuation 3 report, (iii) SRB’s 2018 MREL policy; (iv) The backstop to
the Single Resolution Fund (SRF); (v) Liquidity in resolution, including the summary of external briefings commissioned
by the ECON Committee; (vi) Brexit-related issues, (vii) Bank liquidation regime, (viii) Other publications including the
SRB’s 2019 work programme and the 2018 contributions to the SRF.
Briefing EN
Monetary policy implications of transitory versus permanently subdued growth prospects
Art der Veröffentlichung Auf einen Blick
Kalenderdatum 30-11-2018
Verfasser DESSIMIROVA Denitza | PATERNOSTER Dario
Politikbereich Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste Bibliografie | Geldpolitik | Wirtschaftswachstum | Währungskrise
Zusammenfassung This note, provided by Policy department A, gives an overview of in-depth analyses prepared for the Monetary
Dialogue which took place on 26 November 2018.
Auf einen Blick EN
EMU Reform and the New Normal for Monetary Policy: Challenges and Perspectives
Art der Veröffentlichung Eingehende Analyse
Kalenderdatum 29-11-2018
Externe Autor Andrew HUGHES HALLETT
Politikbereich Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste Bank | Euro-Währungsgebiet | Europäische Zentralbank | Eurosystem | Liquiditätskontrolle | Währungskrise
Zusammenfassung This paper assesses the scope for monetary policy in the euro area as it returns to normal financial conditions without
support from easy money but with a financial stability objective (whether legislated or not). We find that both financial
stability and traditional monetary objectives can be achieved without one limiting the achievement of the other
because, in the new normal, the ECB can use new policy tools derived from the regulatory metrics required under the
post-crisis macro-prudential framework. Whether they offer large improvements depends on how a clear mandate for
financial stability is defined and whether coordination with traditional monetary or fiscal policies is needed. Risks to
monetary policy in the new normal are mainly external and depend on the transmission of monetary policies not
aligned with ECB policies. This document was provided by Policy Department A at the request of the Economic and
Monetary Affairs Committee.
Eingehende Analyse EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 9Central Bank Communication at Times of Non-Standard Monetary Policies
Art der Veröffentlichung Eingehende Analyse
Kalenderdatum 14-09-2018
Externe Autor Lukasz JANIKOWSKI, Andrzej RZONCA
Politikbereich Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste Banksystem | Geldpolitik | Krisenmanagement | Währungskrise | Zentralbank | Zins
Zusammenfassung Communication is an important monetary policy tool, as central banks can use it to manage the expectations of
economic agents. Communication becomes even more important in times of non-standard monetary policies due to
increased levels of uncertainty and the introduction of new policy tools. In this paper, we summarise the literature on
central bank communication in times of non-standard monetary policies, with a particular focus on forward guidance.
This document was provided by Policy Department A at the request of the Economic and Monetary Affairs Committee.
Eingehende Analyse EN
Post-crisis Excess Liquidity and Bank Lending
Art der Veröffentlichung Eingehende Analyse
Kalenderdatum 14-09-2018
Externe Autor Corrado MACCHIARELLI
Politikbereich Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste Bank | Euro-Währungsgebiet | Europäische Zentralbank | Eurosystem | Liquiditätskontrolle | Währungskrise
Zusammenfassung With the Asset Purchase Program, the European Central Bank has supplied significant amounts of liquidity into the
financial system starting from 2015, resulting yet into a new upswing in excess liquidity. The expanded asset purchase
programme (APP) program broadly coincided with further cuts in the ECB’s deposit facility rate, which currently stands
at -0.4%. Against this background, this note assesses the ECB policy of negative rate on the deposit facility and
discusses the associated risks in the context of an excess liquidity overhang for the euro area, including risk-appetite
for banks.
This document was requested by the European Parliament's Committee on Economic and Monetary Affairs.
Eingehende Analyse EN
Central Banks Communications and Monetary Policy
Art der Veröffentlichung Eingehende Analyse
Kalenderdatum 14-09-2018
Externe Autor Professor Karl Whelan
Politikbereich Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste Banksystem | Geldpolitik | Krisenmanagement | Währungskrise | Zentralbank | Zins
Zusammenfassung Communications about plans for future monetary policy are one of the key tools through which central banks can affect
the economy. The addition of non-standard policies such as quantitative easing has complicated communication for
central banks and there have been some lessons for the ECB to learn from communications mistakes made by other
central banks in recent years. The ECB has so far done well in handling the communications issues relating to the
ending of its Asset Purchase Programme but it faces a number of communications challenges as it seeks to normalise
monetary policy.
This document was provided by Policy Department A at the request of the Economic and Monetary Affairs Committee.
Eingehende Analyse EN
Central Bank Communication during Normal and Crisis Times
Art der Veröffentlichung Eingehende Analyse
Kalenderdatum 14-09-2018
Externe Autor Christophe Blot, Paul Hubert
Politikbereich Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste Banksystem | Geldpolitik | Krisenmanagement | Währungskrise | Zentralbank | Zins
Zusammenfassung Central banks have intensified their communication strategy since the mid 1990’s and it has become an important
instrument of central banks’ policymaking toolkit. A large empirical evidence suggests that central bank communication
has effectively enhanced the transmission of monetary policy before and during the financial crisis. Nevertheless, the
use of communication as a policy instrument is fragile since it depends on economic agents’ perceptions and beliefs. It
is crucial that central bank communication be consistent with policy decisions.
This document was provided by Policy Department A at the request of the Economic and Monetary Affairs Committee.
Eingehende Analyse EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 10When Communication becomes the Policy
Art der Veröffentlichung Eingehende Analyse
Kalenderdatum 14-09-2018
Externe Autor Daniel Gros
Politikbereich Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste Banksystem | Geldpolitik | Krisenmanagement | Währungskrise | Zentralbank | Zins
Zusammenfassung Non-standard policy measures are intended to work via financial markets. Their effectiveness thus depends on how
ECB communication affects the expectations of market participants far into the future. Communication has become as
important as the details of the policy measures itself. The success of communication is often measured by short term
market reactions, increasingly using advanced statistical techniques to interpret them. But this ‘policy making by the
markets’ lacks a strong anchor because financial markets often anticipate policy and the assessments of investors
change all the time, often independently of monetary policy actions.
This document was provided by Policy Department A at the request of the Committee on Economic and Monetary
Affairs.
Eingehende Analyse EN
Further harmonising EU insolvency law from a banking resolution perspective?
Art der Veröffentlichung
Briefing
Kalenderdatum
28-05-2018
Verfasser
DESLANDES JEROME JEAN PHILIPPE | MAGNUS Marcel
Politikbereich
Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Bankgeschäft | EU-Behörde | Europäische Bankenaufsichtsbehörde | europäische Bankenunion | Europäisches
Parlament | Fonds (EU) | Italien | Kapitalanlagegesellschaft | Kreditinstitut | Liquidität | Richtlinie (EU) | Richtlinie EG |
Währungskrise
Zusammenfassung Further to recent resolution and liquidation cases experienced in the Banking Union, both the Single Resolution
Mechanism (SRM) and the Single Supervision Mechanism (SSM) have called for further harmonisation of insolvency
law. In April 2018, the SRB stressed that “the divergence of national insolvency laws is a major obstacle towards a
fully-fledged Banking Union”. As part of the SRM review due by 31 December 2018, the Commission shall “evaluate
the necessity of taking steps order to harmonise insolvency proceedings for failed institution”. This briefing explains
why the completion of the Banking Union may need to be underpinned by further progress in harmonising Member
States’ insolvency law. This briefing takes a ‘banking resolution’ perspective, and does not specifically address
initiatives that the Commission has taken to improve the efficiency of Member States’ insolvency law framework (See
separate EGOV briefing “Completing the Banking Union”).
Briefing EN
The ESM and the IMF: comparison of the main features
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum27-04-2018
Verfasser
GASPAROTTI ALESSANDRO | ZOPPÉ Alice
Politikbereich
Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Eurogroup (Euro-Zone) | Europäischer Stabilitätsmechanismus | Externe Zuständigkeit (EU) | Internationaler
Währungsfonds | Koordinierung der WWU-Politiken | Wirtschaftslage | wirtschaftspolitische Steuerung (EU) |
Währungskrise | währungspolitische Zusammenarbeit
Zusammenfassung This document provides a comparison of the main objectives, tools and governance structures of the European
Stability Mechanism (ESM) and of the International Monetary Fund (IMF). It contributes to the debate on recent
proposal regarding the possible evolution of the ESM into a “European Monetary Fund”, in the wider context of the
discussions on how to strengthen the governance of Economic and Monetary Union. The note also presents
summaries of three external papers prepared in spring 2017, upon a request of the Economic and Monetary
Committee on this subject.
Eingehende Analyse EN
Cash outflows in crisis scenarios: do liquidity requirements and reporting obligations give the SRB
sufficient time to react?
Art der Veröffentlichung
Eingehende Analyse
Kalenderdatum19-04-2018
Externe Autor
Alexander Lehmann (Bruegel)
Politikbereich
Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Arbeitsweise der Organe | Bank | Bankenaufsicht | Euro-Währungsgebiet | Finanzkontrolle | Finanzsystemstabilität |
gemeinsamer Fonds | Kreditinstitut | Liquidität | Mitgliedstaat der EU | Ordnungspolitik | Risikomanagement |
Währungskrise
Zusammenfassung Bank failures have multiple causes though they are typically precipitated by a rapidly unfolding funding crisis. The
European Union’s new prudential liquidity requirements offer some safeguards against risky funding models, but will
not prevent such scenarios. The speed of events seen in the 2017 resolution of a Spanish bank offers a number of
lessons for the further strengthening of the resolution framework within the euro area, in particular in terms of inter-
agency coordination, the use of payments moratoria and funding of the resolution process.
Eingehende Analyse EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 11Public hearing with Danièle Nouy, Chair of the Supervisory Board, presenting the SSM Annual Report
2017
Art der Veröffentlichung
Briefing
Kalenderdatum
22-03-2018
Verfasser
MAGNUS Marcel
Politikbereich
Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Bankgeschäft | EU-Behörde | Euro-Währungsgebiet | Europäische Zentralbank | Finanzbedarf |
Kapitalanlagegesellschaft | Kreditinstitut | Mitgliedstaat der EU | Präsident einer Institution | Statistik | Währungskrise |
öffentliche Anhörung
Zusammenfassung This note is prepared in view of a regular public hearing with the Chair of the Supervisory Board of the European
Central Bank (ECB) who will inter alia present the SSM Annual Report 2017. The EP received a copy of that report on
a confidential basis, under embargo until Monday, 26 March 2018, at 15:00 CET. In view of that restriction, this briefing
does not refer to that Annual Report in any way.
The following issues are addressed in this briefing: the self-liquidation of directly supervised ABLV, the ECB
Addendum on NPLs, the latest release of the ECB’s Supervisory Banking Statistics, and external briefing papers
provided for the ECON Committee which analyse the 2017 SREP results.
Briefing EN
Cash outflows in crisis scenarios
Art der VeröffentlichungEingehende Analyse
Kalenderdatum 16-03-2018
Externe Autor W.P.de Groen, CEPS
PolitikbereichFinanz- und Bankenangelegenheiten | Landwirtschaft und Entwicklung des ländlichen Raums | Wirtschaft und
Währung
Schlagwortliste Bank | Bankenaufsicht | Euro-Währungsgebiet | Finanzkontrolle | Finanzsystemstabilität | gemeinsamer Fonds |
Kreditinstitut | Liquidität | Mitgliedstaat der EU | Ordnungspolitik | Risikomanagement | Währungskrise
Zusammenfassung The large majority of the more than € 2.5 trillion of public and monetary support that euro area banks received between
2008 and 2016 was liquidity support. Liquidity has nevertheless been inadequately addressed in the legislative
overhaul following the global financial crisis. This paper focuses on liquidity in resolution, the moment when the need
for liquidity is most acute. Based on an assessment of the liquidity needs as well as the role and size of the central
bank facilities and Single Resolution Fund, it draws the conclusion that a back-stop for the resolution fund, prompter
corrective action and better information exchange between the authorities involved appear to be required in order to
improve the functioning of the resolution mechanism.
Eingehende Analyse EN
Exchange of views with Mrs Elke König, Chair of the Single Resolution Board
Art der Veröffentlichung
Briefing
Kalenderdatum
15-03-2018
Verfasser
MAGNUS Marcel
Politikbereich
Finanz- und Bankenangelegenheiten | Wirtschaft und Währung
Schlagwortliste
Bankgeschäft | EU-Behörde | Europäisches Parlament | Fonds (EU) | Kapitalanlagegesellschaft | Kreditinstitut |
Liquidität | Präsident einer Institution | Währungskrise
Zusammenfassung This briefing presents selected issues regarding the work of the Single Resolution Board (SRB) in advance of the
exchange of views with Mrs Elke König, Chair of the SRB, in ECON on 20 March 2018. The briefing thematically
covers events since the last hearing: the SRB’s 2017 MREL Policy, the ECA’s special report on the SRB, it updates on
the SRB resolution decision in case of Banco Popular, in particular with a view on the published non-confidential
versions of the related valuation reports, and provides summaries of external expert briefing papers on the topic of
“cash outflows in crisis scenarios”.
Briefing EN
26-02-2022 Quelle : © Europäische Union, 2022 - EP 12Securitisation and capital requirements
Art der Veröffentlichung
Briefing
Kalenderdatum 25-01-2018
Verfasser
DELIVORIAS Angelos
Politikbereich
Annahme von Rechtsvorschriften durch das EP und den Rat | Finanz- und Bankenangelegenheiten | Wirtschaft und
Währung
Schlagwortliste Angleichung der Rechtsvorschriften | Annahme des Gesetzes | Bankgeschäft | Finanzbedarf | Finanzbestimmung |
finanzielles Risiko | Finanzmarkt | Geldversorgung | Kapitalanlagegesellschaft | Kreditinstitut | Ordentliches
Gesetzgebungsverfahren | Verordnung (EU) | Währungskrise
Zusammenfassung As part of its ambition to create a Capital Markets Union, the European Commission wants to revive the securitisation
market in the EU, in order to offer new financing tools and ease credit provision, especially for small and medium-sized
enterprises. Its 'securitisation initiative', set out in a proposed regulation on 30 September 2015, would establish a new
framework for 'simple, transparent, and standardised' (STS) securitisations. This new initiative also has implications for
the overall prudential framework for credit institutions and investment firms, therefore the Commission proposed to
amend the Capital Requirements Regulation (EU) No 575/2013 accordingly. The proposed amendments would adjust
risk retention profiles to reflect properly the specific features of STS securitisations. The most significant changes are:
a new hierarchy of risk calculation methods and lower capital requirements for STS. The Council agreed on a general
approach on both dossiers in early December 2015. Parliament’s ECON Committee adopted its report a year later, and
the two institutions reached agreement on the text in trilogue in June 2017. This briefing further updates an earlier
edition of July 2016: PE 573.935. See also our updated briefing on the related proposal: PE 608.777.
Briefing EN
Euro Summits: Role and expectations ahead of the meeting of 15 December 2017
Art der Veröffentlichung Auf einen Blick
Kalenderdatum 13-12-2017
Verfasser POLIDORI Silvia
Politikbereich Wirtschaft und Währung
Schlagwortliste Beistandsmechanismus | Euro-Währungsgebiet | Gipfeltreffen | SKS-Vertrag | wirtschaftspolitische Steuerung (EU) |
Währungskrise
Zusammenfassung Since 2008, Euro Summits have brought together the Heads of State or Government of those countries whose
currency is the euro, providing policy guidance to assure the smooth functioning of Economic and Monetary Union
(EMU) and the euro area. Donald Tusk, who chairs the Euro Summit as well as being President of the European
Council, has convened a Euro Summit for 15 December 2017. This will be the first such meeting since those dedicated
to the Greek crises in 2015.
Auf einen Blick EN
Finanzielle Unterstützung der EU-Mitgliedstaaten
Art der Veröffentlichung
Kurzdarstellungen zur EU
Kalenderdatum 01-06-2017
Verfasser
HRADISKY Martin
Politikbereich
Wirtschaft und Währung
Schlagwortliste
Beistandsmechanismus | EU-Darlehen | Euro-Währungsgebiet | Koordinierung der WWU-Politiken |
Stabilitätsprogramm | Voraussetzung für die Beihilfegewährung | wirtschaftliche Konvergenz | Währungskrise |
Zahlungsbilanz | öffentliche Schulden
Zusammenfassung Die europäischen Mechanismen für die finanzielle Unterstützung dienen der Wahrung der Finanzstabilität der EU und
des Euro-Währungsgebiets, da finanzielle Schwierigkeiten in einem Mitgliedstaat erhebliche Auswirkungen auf die
makrofinanzielle Stabilität in anderen Mitgliedstaaten haben können. Die finanzielle Unterstützung ist an
makroökonomische Auflagen gebunden (sie ist ein Darlehen und keine Transferzahlung), damit die Mitgliedstaaten,
die eine solche Unterstützung erhalten, die notwendigen steuerlichen, wirtschaftlichen, strukturellen und
aufsichtsrechtlichen Reformen durchführen.
Kurzdarstellungen zur BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV
EU
Bankenunion
Art der Veröffentlichung
Kurzdarstellungen zur EU
Kalenderdatum 01-06-2017
Verfasser
MAGNUS Marcel
Politikbereich
Finanz- und Bankenangelegenheiten
Schlagwortliste
Bankeinlage | Bankenaufsicht | Binnenmarkt | Euro-Währungsgebiet | Europäische Zentralbank | Finanzbedarf |
Finanzinstitution | Finanzmarkt | Koordinierung der WWU-Politiken | parlamentarische Kontrolle | Währungskrise
Zusammenfassung Die Bankenunion wurde als Reaktion auf die Finanzkrise geschaffen und besteht derzeit aus zwei Teilen, dem
Einheitlichen Aufsichtsmechanismus (SSM) und dem Einheitlichen Abwicklungsmechanismus (SRM). Der SSM
überwacht die größten und wichtigsten Banken im Euro-Währungsgebiet unmittelbar auf europäischer Ebene,
während es Aufgabe des SRM ist, ausfallende Banken in geordneter Weise und mit minimalen Kosten für die
Steuerzahler und die Realwirtschaft abzuwickeln. Ein dritter Teil, das Europäische Einlagensicherungssystem (EDIS),
wird derzeit erörtert.
Kurzdarstellungen zur BG, ES, CS, DA, DE, ET, EL, EN, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV
EU
26-02-2022 Quelle : © Europäische Union, 2022 - EP 13You can also read
