ERN: Banking & Monetary Policy (Topic)最新文献_第2页

Central Counterparties’ Insolvency and Resolution – The New EU Regulation on CCP Recovery and Resolution 中央交易对手的破产和清算——欧盟关于中央交易对手的恢复和清算的新法规

ERN: Banking & Monetary Policy (Topic) Pub Date : 2021-02-03 DOI: 10.2139/ssrn.3778649

Jens-Hinrich Binder

引用次数: 0

The Assumption that the Relationship between Monetary Easing and Inflation is Positive is Spurious 货币宽松与通货膨胀正相关的假设是错误的

ERN: Banking & Monetary Policy (Topic) Pub Date : 2021-01-11 DOI: 10.2139/ssrn.3763499

Emily M. Allen, Harry J. Geels

引用次数: 0

Are Risky Banks Rationed by Corporate Depositors? 风险银行是否受到企业储户的限制?

ERN: Banking & Monetary Policy (Topic) Pub Date : 2021-01-05 DOI: 10.2139/ssrn.3760743

Björn Imbierowicz, A. Saunders, Sascha Steffen

引用次数: 0

Foreign Demand for Euro Banknotes 欧元纸币的国外需求

ERN: Banking & Monetary Policy (Topic) Pub Date : 2021-01-01 DOI: 10.2139/ssrn.3797124

Laure Lalouette, Alejandro Zamora-Pérez, Codruta Rusu, Nikolaus Bartzsch, Emmanuelle Politronacci, Martial Delmas, A. Rúa, Marco Brandi, Martti Naksi

{"title":"Foreign Demand for Euro Banknotes","authors":"Laure Lalouette, Alejandro Zamora-Pérez, Codruta Rusu, Nikolaus Bartzsch, Emmanuelle Politronacci, Martial Delmas, A. Rúa, Marco Brandi, Martti Naksi","doi":"10.2139/ssrn.3797124","DOIUrl":"https://doi.org/10.2139/ssrn.3797124","url":null,"abstract":"In order to understand why there is a continuous increase in euro banknote circulation even though the use of cash for transactions is decreasing in the euro area – a phenomenon known as the paradox of banknotes – the members of the Overseas workstream of the Eurosystem Research Network on Cash (EURECA) 1 have conducted a study on the foreign demand for euro banknotes. The results of this study are based on desk research using data collected in the Eurosystem and from other organisations, and using both proven and innovative techniques. The objectives of this study are to identify the drivers of foreign demand and to estimate the share of euro banknotes circulating outside the euro area. The results provide an insight into the reasons for the increase in banknote circulation. They also show how significant the international demand for euro banknotes is, providing us with a clue to understanding the paradox of banknotes. The study shows that there are a multitude of factors behind the demand for euro banknotes, for both store-of-value and transaction purposes. In particular, euro cash flows are mainly driven by local-specific determinants, i.e. factors affecting a country’s demand for euro (local inflation, economic activity and foreign tourism) rather than external factors (global uncertainty or short-term interest rates in the euro area). On the back of this research, the share of euro banknotes in circulation estimated to be outside the euro area is between 30% and 50% of the total value of euro banknote circulation.","PeriodicalId":344099,"journal":{"name":"ERN: Banking & Monetary Policy (Topic)","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130549129","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: 12

Rare Disasters, the Natural Interest Rate and Monetary Policy 罕见灾害、自然利率与货币政策

ERN: Banking & Monetary Policy (Topic) Pub Date : 2020-12-22 DOI: 10.2139/ssrn.3826379

A. Cantelmo

引用次数: 23

BOFIA 2020 and the New Regime for Banks’ Insolvency and Restructuring in Nigeria 《2020年尼日利亚银行破产和重组新制度》

ERN: Banking & Monetary Policy (Topic) Pub Date : 2020-12-20 DOI: 10.2139/ssrn.3789563

A. Folarin

引用次数: 0

Incentive Compatible Relationship between Ermii and Close-Cooperation in the Banking Union: The Case of Bulgaria and Croatia 银行业联盟中Ermii与密切合作的激励相容关系——以保加利亚和克罗地亚为例

ERN: Banking & Monetary Policy (Topic) Pub Date : 2020-12-18 DOI: 10.2139/ssrn.3749876

M. Nieto, Dalvinder Singh

{"title":"Incentive Compatible Relationship between Ermii and Close-Cooperation in the Banking Union: The Case of Bulgaria and Croatia","authors":"M. Nieto, Dalvinder Singh","doi":"10.2139/ssrn.3749876","DOIUrl":"https://doi.org/10.2139/ssrn.3749876","url":null,"abstract":"The ambition to expand participation in the European Banking Union was to allow the ‘outs’ to enter in to close cooperation, however, it did not include the simultaneous joining of ERM II. Focusing on the cases of Bulgaria and Croatia, this paper attempts to respond to a number of questions: What is the rationale behind the double requirement of having to simultaneously apply to become a member of the ERM II and to prepare to become a member of the Banking Union via rule based “close cooperation” mechanism of coordination between the EU non-euro area NCAs and the ECB? Does the integration of close cooperation countries' banking systems with the euro area banking systems support the decision to join ERM II and ¨opting-in¨ to the SSM? Do the existing “close cooperation” arrangements guarantee greater coordination of resource-allocating decisions on prudential supervision and improved internalization of financial stability decisions? What are the advantages of the preparation to become a full member of the euro area and the SSM (e.g. coordination of macro and micro-prudential regulation; coordination of micro-prudential supervision and bank resolution)? It is evident from the research undertaken in this paper that there are clear benefits from close cooperation for the respective Member States whose domestic currencies are already linked to the euro in view of the dominant position eurozone banks have in their respective domestic markets.","PeriodicalId":344099,"journal":{"name":"ERN: Banking & Monetary Policy (Topic)","volume":"47 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132605440","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: 0

Exploring Governance Issues between the SRB and the ESM in the Use of the Common Backstop 探讨SRB和ESM在使用共同担保时的治理问题

ERN: Banking & Monetary Policy (Topic) Pub Date : 2020-12-11 DOI: 10.2139/ssrn.3746884

Pier Mario Lupinu

{"title":"Exploring Governance Issues between the SRB and the ESM in the Use of the Common Backstop","authors":"Pier Mario Lupinu","doi":"10.2139/ssrn.3746884","DOIUrl":"https://doi.org/10.2139/ssrn.3746884","url":null,"abstract":"To date, the resolution of the Banco Popular Espanol, being the first and only resolution case in the euro area, has had the “benefit” of bringing to light several shortfalls of this crisis management system. Back then, thanks to the sale of business, the need of the use of the Single Resolution Fund (SRF) has been avoided, prompting criticism on whether the fund had sufficient means to overcome a major widespread crisis. \u0000 \u0000During the period elapsed from the last financial crisis, the euro area banking sector has built capital and liquidity buffers, which were aimed at protecting them for future shocks. Although it is now widely accepted that crises are of a cyclical nature, new risks and the high interconnectivity of today’s economic activities brought an unexpected crisis due to the current pandemic. The consequences of this unprecedented event in modern history had severe effects to the worldwide economy, mostly for the boundless block of labour activities, which caused severe losses for households, enterprises and governments that consequently affected the financial intermediation function of the banks. \u0000 \u0000Concerning the European Stability Mechanism (ESM), the current pandemic has had the effect to put temporary on hold the discussion on the revision of the ESM Treaty, including its role as a Backstop to the SRF, so that the Mechanism could experience a new role through the ESM Pandemic Crisis Support. \u0000 \u0000In such a framework, this paper aims to bring back the attention to the unfinished path in the establishment of the Common Backstop by addressing an important element of risk, namely its decision-making process. The main aim is to explore possible governance issues, which could hamper a timely and effective use of the Common Backstop, in the case that the SRF would be depleted and no alternative funding sources would be available.","PeriodicalId":344099,"journal":{"name":"ERN: Banking & Monetary Policy (Topic)","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114329740","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: 3

Banking Supervision and Risk-Adjusted Performance in the Host Country Environment 东道国环境下银行监管与风险调整绩效

ERN: Banking & Monetary Policy (Topic) Pub Date : 2020-11-02 DOI: 10.2139/ssrn.3781526

K. Janda, Oleg Kravtsov

引用次数: 2

Effects of Eligibility for Central Bank Purchases on Corporate Bond Spreads 央行购买资格对公司债息差的影响

ERN: Banking & Monetary Policy (Topic) Pub Date : 2020-10-22 DOI: 10.2139/ssrn.3742875

Taneli Mäkinen, Andrea Mercatanti, A. Silvestrini, Fan Li

引用次数: 35