Month: September 2019

September 2019: the ECB Occasional Paper – Macroprudential policy at the ECB: Institutional framework, strategy, analytical tools and policies

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This occasional paper describes how the financial stability and macroprudential policy functions are organised at the ECB. Financial stability has been a key policy function of the ECB since its inception. Macroprudential policy tasks were later conferred on the ECB by the Single Supervisory Mechanism (SSM) Regulation. The paper describes the ECB’s macroprudential governance framework[…]

September 2019: IMF Working Paper – A Monitoring Framework for Global Financial Stability

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This paper describes the conceptual framework that guides assessments of financial stability risks for multilateral surveillance, as currently presented in the Global Financial Stability Report (GFSR). The framework emphasizes consistency in measuring financial vulnerabilities across countries and over time and offers a summary statistic to quantify aggregate financial stability risks. The two parts of the[…]

September 2019: New VoxEU Column – The effectiveness of cross-border cooperation in banking supervision

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Following the Global Crisis, countries have significantly increased their efforts to cooperate on bank supervision, the prime example being the euro area’s Single Supervisory Mechanism. However, little is known about whether such cooperation helps improve the stability of the financial system. Using panel data for a large sample of cross-border banks, this column examines whether[…]

The IFABS Conference “Sustainable banking and finance: A new global paradigm”

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CfP Deadline Date: September 15, 2019 Conference Event: December 5-7, 2019 Event Location: Medellin, Colombia Organizer(s): Universidad EAFIT, the Central Bank of Colombia (“Banco de la Republica”), the Federal Reserve Board, University of Nottingham. The IFABS Conferences aim to provide a forum for discussion and critical analysis of major financial and banking challenges and networking[…]

Non-bank Financial Sector and Financial Stability

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Conference Event: October 4, 2019 Event Location: London School of Economics, London, Great Britain Keynote speaker(s): Ralph Koijen (University of Chicago Booth School of Business and CEPR) Organizer(s): London School of Economics Non-bank financial intermediation comprises almost half of the global financial sector. Since the crisis, UK private non-financial corporations have also substituted funding from[…]

10th RCEA Macro-Money-Finance Conference

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Conference Event: September 13-14, 2019 Event Location: Waterloo, Ontario, Canada Keynote speaker(s): • Emmanuel Farhi (Harvard University, NBER and CEPR) • Enrique Mendoza (University of Pennsylvania and NBER) Organizer(s): RCEA (Rimini Centre for Economic Analysis) The current macroeconomic situation indicates a growing possibility of the next recession. Economic growth has slowed down in Europe and[…]

CEPR Working Paper: Macroprudential Policy with Leakages

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Author(s): Julien Bengui, Javier Bianchi Date: August 2019 Abstract: The outreach of macroprudential policies is likely limited in practice by imperfect regulation enforcement, whether due to shadow banking, regulatory arbitrage, or other regulation circumvention schemes. We study how such concerns affect the design of optimal regulatory policy in a workhorse model in which pecuniary externalities[…]

2019 FinTech Conference

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CfP Deadline Date: September 20, 2019 Conference Event: December 2, 2019 Event Location: the NHH Norwegian School of Economics in Bergen, Norway Organizer(s): The NHH Norwegian School of Economics, the Argentum Center for Private Equity FinTech has rapidly assumed center stage in the financial industry. The impact of informational technology is expected to radically restructure[…]