VoxEU Columnby Fernando Broner, Sergio L. Schmukler & Goetz von Peter The countries of the Global South are becoming increasingly important actors in the global financial economy. This column uses a comprehensive new bilateral dataset on cross-border bank loans and deposits, portfolio investment, foreign direct investment, and international reserves, covering the period from 2001 to[…]
ESRB Press Release At its meeting on 21 March 2024, the General Board of the European Systemic Risk Board (ESRB) acknowledged the resilience of the banking system but concluded that financial stability risks in the EU remain elevated amid high geopolitical uncertainty. Links: ESRB Press Release – The General Board of the European Systemic Risk[…]
New York FED Liberty Street Economics – Blog Entry by Stephan Luck and Matthew Plosser The authors evaluate how deposits have evolved over the latter portion of the current monetary policy tightening cycle. They find that while deposit betas have continued to rise, they did not accelerate following the bank runs in March 2023. In[…]
IMF Blog entry by Allison Holland, Ceyla Pazarbasioglu How to Ease Rising External Debt-Service Pressures in Low-Income Countries – Debt servicing costs are increasing rapidly while annual refinancing needs have tripled to about $60 billion. Links: IMF Blog: How to Ease Rising External Debt-Service Pressures in Low-Income Countries
FSI Insights on policy implementation – No 56by Johannes Ehrentraud, Ségolène Mure, Elisabeth Noble and Raihan Zamil Non-bank financial intermediaries (NBFIs) encompass numerous firms with distinct business models that provide various financial services. This includes NBFI retail lenders, such as finance companies, mortgage companies, fintechs and big techs that lend to households and small and medium-sized enterprises (SMEs). In this[…]
by Claudia Buch Speech by Claudia Buch, Chair of the Supervisory Board of the ECB at the House of the Euro in Brussels, on “European banking supervision a decade on: safeguarding banks’ resilience amid global challenges”. Links: Speech by Claudia Buch, Chair of the Supervisory Board of the ECB
by Davide Romelli Central bank independence is widely considered the backbone of modern economic policy analysis. This column examines the evolution of central bank independence for a sample of 155 countries from 1923 to 2023, and reveals a remarkable global shift towards enhancing the independence of monetary authorities. Despite the post-2008 challenges and the recent[…]
by the ECB The supervison newsletter is published every three months. It highlights and summarises key issues in banking supervision that are of interest to banks and the wider financial sector. This issue includes among others an Interview with Claudia Buch and articles on rise in outsourcing, data quality, ICT and security risks, and stronger[…]
by Philip R. Lane Keynote speech by Philip R. Lane, Member of the Executive Board of the ECB, at the joint Banco de España, Irving Fisher Committee on Central Bank Statistics and European Central Bank conference “External statistics after the pandemic: addressing novel analytical challenges” in Madrid. Links: ECB Keynote speech: Euro area international financial[…]
by Burkhard Raunig, Michael Sigmund Since the introduction of the Single Supervisory Mechanism (SSM) in 2014, systemically important banks in the euro area are directly supervised by the ECB. From a static and dynamic perspective, we examine how this fundamental shift towards unified supervision under the SSM affects the competitive position of SSM banks. A[…]