ESRB: Advisory Scientific Committee Reports (Topic)最新文献

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Can EFTs Contribute to Systemic Risk? EFTs会导致系统性风险吗?

ESRB: Advisory Scientific Committee Reports (Topic) Pub Date : 2019-06-01 DOI: 10.2139/ssrn.3723329

M. Pagano, Antonio Sánchez Serrano, J. Zechner

引用次数: 22

Approaching Non-Performing Loans from a Macroprudential Angle 从宏观审慎的角度看待不良贷款

ESRB: Advisory Scientific Committee Reports (Topic) Pub Date : 2018-10-01 DOI: 10.2139/ssrn.3723327

J. Suárez, Antonio Sánchez Serrano

{"title":"Approaching Non-Performing Loans from a Macroprudential Angle","authors":"J. Suárez, Antonio Sánchez Serrano","doi":"10.2139/ssrn.3723327","DOIUrl":"https://doi.org/10.2139/ssrn.3723327","url":null,"abstract":"This report looks at non-performing loans (NPLs) from a macroprudential angle. The accumulation of NPLs on banks’ balance sheets comes to the attention of macroprudential authorities when they weaken a significant part of the financial system, threatening its stability or impairing one or more of its core functions, such as the provision of credit to the real economy. Various imperfections, including unaddressed externalities, economies of scale and coordination failures, institutional distortions (stemming from the accounting, regulatory and tax treatment of NPLs or the judicial and market structures needed for their efficient resolution) and moral hazard vis-à-vis the providers of the banks’ safety net, may call for policy action on the management of NPLs. While the tools needed to address these imperfections and their consequences may not be mainly macroprudential, the trade-offs that must be struck when using such tools have an important macroprudential component, thus requiring an active involvement of macroprudential authorities – not least as assessors of the overall consistency and cumulative systemic impact of the undertaken policies, in normal times as well as during crises and in their aftermath.","PeriodicalId":227276,"journal":{"name":"ESRB: Advisory Scientific Committee Reports (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128835462","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 13

The Consequences of the Single Supervisory Mechanism for Europe's Macro-Prudential Policy Framework 单一监管机制对欧洲宏观审慎政策框架的影响

ESRB: Advisory Scientific Committee Reports (Topic) Pub Date : 2013-09-01 DOI: 10.2139/ssrn.3723323

A. Sapir, M. Hellwig, M. Pagano, V. Acharya, L. Balcerowicz, Arnoud Boot, Markus K. Brunnermeier, C. Buch, Ieke van den, Charles W. Calomiris, D. Gros, Dario Focarelli, A. Giovannini, Andreas Ittner, D. Schoenmaker, Charles Wyplosz

{"title":"The Consequences of the Single Supervisory Mechanism for Europe's Macro-Prudential Policy Framework","authors":"A. Sapir, M. Hellwig, M. Pagano, V. Acharya, L. Balcerowicz, Arnoud Boot, Markus K. Brunnermeier, C. Buch, Ieke van den, Charles W. Calomiris, D. Gros, Dario Focarelli, A. Giovannini, Andreas Ittner, D. Schoenmaker, Charles Wyplosz","doi":"10.2139/ssrn.3723323","DOIUrl":"https://doi.org/10.2139/ssrn.3723323","url":null,"abstract":"The European macro-prudential policy framework operates at two levels. First, the ESRB has a legal responsibility for macro-prudential oversight in the EU. Second, various national and EU authorities have responsibility for the implementation of macro-prudential policy. The creation of a European banking union is an important innovation within this two-level structure. In response to this innovation, this paper makes two key points. First, the ECB should be in charge of macro-prudential policies conferred by the Capital Requirements Regulation and Directive. Within the ECB, macro-prudential decisions should be taken entirely by the Governing Council, while micro-prudential decisions should be prepared by the Supervisory Board. Second, the ESRB remains the only EU-wide body in charge of macro-prudential supervision, responsible for all financial activities. The ESRB's effectiveness could be strengthened by creating a post of Managing Director, who would carry out the policy determined by the General Board and would be responsible to the General Board for the management of the ESRB. JEL Classification: G28","PeriodicalId":227276,"journal":{"name":"ESRB: Advisory Scientific Committee Reports (Topic)","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2013-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128545902","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2