By Miguel Ampudia, Thorsten Beck, Alexander Popov The trade-off between stability and growth has long been a subject of policy debate and informs views on the extent to which the supervision of banks should be centralised. This column presents analysis of the ECB’s Single Supervisory Mechanism, using the announcement of the mechanism and its implementation[…]

By Mikhail Mamonov, Anna Pestova and Steven Ongena Financial sanctions against Russia’s state-owned and controlled banks were imposed consecutively between 2014 and 2019, allowing banks that would potentially be targeted in the future to adjust their international and domestic exposures. This column explores the informational effects of financial sanctions, showing that compared to similar private[…]

By Christoffer Kok, Carola Müller, Steven Ongena and Cosimo Pancaro Since the financial crisis, stress tests have become an important supervisory and financial stability tool. Relying on confidential data available at the ECB, this column presents novel evidence that supervisory scrutiny associated with stress testing has a disciplining effect on bank risk. Banks that participated[…]

By Hans Degryse, Sotirios Kokas and Raoul Minetti Since the financial crisis, stress tests have become an important supervisory and financial stability tool. Relying on confidential data available at the ECB, this column presents novel evidence that supervisory scrutiny associated with stress testing has a disciplining effect on bank risk. Banks that participated in the[…]

By Bilyana Bogdanova, Tracy Chan, Kristina Micic and Goetz von Peter This statistical feature presents a new data set on long-term debt securities issued by central and general governments in domestic and foreign currencies. It combines national aggregates with data on international issuance and BIS estimates, for improved coverage across all markets of issue. The[…]