by Lara Coulier, Cosimo Pancaro, Livia Pancotto & Alessio Reghezza How do banks manage the behavioural maturity of non-maturing deposits (NMDs)? Although NMDs are contractually floating-rate liabilities with zero maturity, banks allocate them across different maturity buckets using models that reflect past depositor behaviour. Notably, only 20% of NMDs are treated as having zero maturity,[…]
by Madalen Castells-Jauregui, Dmitry Kuvshinov, Björn Richter & Victoria Vanasco Our study documents the central role of the foreign sector in the market for safety and explores its macroeconomic implications. Using new data for advanced economies since 1980, we show that foreign demand for safe assets has steadily increased, and that is has been mainly[…]
European Central Bank Press Release Link: Press Release: Governing Council proposes simplification of EU banking rules (December 2025)
BIS Quarterly Review | 08 December 2025by Patrick McGuire, Andreas Schrimpf and Goetz von Peter Link: BIS Quarterly Review | Foreword: Shifting currents in FX and interest rate derivatives: highlights from the 2025 Triennial Survey
European Central Bank Press Release Link: Press Release: Climate change indicators (November 2025)Data: Climate change-related indicators
Published as part of the Macroprudential Bulletin 32Prepared by Alberto Grassi, Michael Kosiahn, Chiara Lelli, María Losa Martín, Michael Moers, Matthias Sydow, Michael Vincent and Garbrand Wiersema “This article expands on the 2025 EU-wide stress test by incorporating a system-wide perspective to capture contagion risks across investment funds and insurance corporations alongside the banking sector.[…]
FSI Brief by Claudio Borio, Rodrigo Coelho, Fernando Restoy and Nikola Tarashev Link: FSI Brief | No 28: Revisiting the regulatory capital stack
by the European Central Bank The Financial Stability Review provides an overview of potential risks to financial stability in the euro area. It aims to promote awareness in the financial industry and among the public of euro area financial stability issues. It is published twice a year, with the next release set for 27 May[…]
Finance and Economics Discussion Series (FEDS)by Lucia Gurrieri, Chase Ross, Ben Schmiedt, Alexandros P. Vardoulakis, and Vladimir Yankov We examine whether access to the Federal Reserve’s Overnight Reverse Repo Facility (ON RRP) affects money market fund flows during flight-to-safety episodes. We find that funds with ON RRP access serving sophisticated investors experience about a 1[…]
SUERF Policy Briefby Christoph Basten & Ragnar Juelsrud Changes in monetary policy rates are passed through to deposit rates incompletely, reducing the attractiveness to bank clients of deposits relative to assets with higher pass-through after policy rate hikes. This reduces deposit growth and, with deposits as primary refinancing, loan growth following monetary tightening, which supports[…]