Central Banking at a Crossroads
Central Banking at a Crossroads

Author: Charles Goodhart

Publisher: Anthem Press

Published: 2014-12-01

Total Pages: 292

ISBN-13: 1783083042

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This book reflects on the innovations that central banks have introduced since the 2008 collapse of Lehman Brothers to improve their modes of intervention, regulation and resolution of financial markets and financial institutions. Authors from both academia and policy circles explore these innovations through four approaches: ‘Bank Capital Regulation’ examines the Basel III agreement; ‘Bank Resolution’ focuses on effective regimes for regulating and resolving ailing banks; ‘Central Banking with Collateral-Based Finance’ develops thought on the challenges that market-based finance pose for the conduct of central banking; and ‘Where Next for Central Banking’ examines the trajectory of central banking and its new, central role in sustaining capitalism.

CoMap: Mapping Contagion in the Euro Area Banking Sector
CoMap: Mapping Contagion in the Euro Area Banking Sector

Author: Mehmet Ziya Gorpe

Publisher: International Monetary Fund

Published: 2019-05-10

Total Pages: 63

ISBN-13: 1498312071

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This paper presents a novel approach to investigate and model the network of euro area banks’ large exposures within the global banking system. Drawing on a unique dataset, the paper documents the degree of interconnectedness and systemic risk of the euro area banking system based on bilateral linkages. We develop a Contagion Mapping model fully calibrated with bank-level data to study the contagion potential of an exogenous shock via credit and funding risks. We find that tipping points shifting the euro area banking system from a less vulnerable state to a highly vulnerable state are a non-linear function of the combination of network structures and bank-specific characteristics.

Europe at the Crossroads
Europe at the Crossroads

Author: Basil R. Jones

Publisher: Nova Publishers

Published: 2008

Total Pages: 250

ISBN-13: 9781604561012

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As a continent, the economy of Europe is currently the largest on Earth. The European Union, or EU, an intergovernmental body composed of most of the European states, is one of the two largest in the world. Of the member states in the EU, Germany has the largest national economy. Thirteen EU countries share a common unit of currency, the Euro. Major economic sectors in Europe include agriculture, manufacturing, and investment. The majority of the EU's trade is with the United States, China, India, Russia and non-member European states. This book focuses on the latest economic and political issues in Europe.

Economic Convergence in the Euro Area: Coming Together or Drifting Apart?
Economic Convergence in the Euro Area: Coming Together or Drifting Apart?

Author: Mr.Jeffrey R. Franks

Publisher: International Monetary Fund

Published: 2018-01-23

Total Pages: 47

ISBN-13: 1484338499

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We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.

EU Policymaking at a Crossroads
EU Policymaking at a Crossroads

Author: Sybille Münch

Publisher: Edward Elgar Publishing

Published: 2022-12-08

Total Pages: 295

ISBN-13: 1788977653

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For readers interested in an overview of what led to the adoption of the European Union’s Multiannual Financial Framework (MFF) and its aftermath, this book traces the discursive dynamics and milestones of the negotiations around the MFF and the new recovery instrument, aimed at alleviating the economic crisis caused by the Coronavirus pandemic.

European Banking Supervision
European Banking Supervision

Author: André Sapir

Publisher:

Published: 2016-06-14

Total Pages: 182

ISBN-13: 9789078910411

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European banking supervision, also known as the Single Supervisory Mechanism, is the first and arguably the main component of European banking union. In late 2014, the European Central Bank became the supervisor for the region's largest banking groups; the ECB also oversees the supervision by national authorities of smaller banks. This Blueprint is the first in-depth study of how this ground-breaking reform is working in practice. Despite teething troubles and occasional misjudgements, this assessment finds that overall European banking supervision has been effective, demanding and broadly fair, at least for the banks under the ECB's direct watch. Even so, achieving a truly single market in banking services will require more time, further supervisory initiatives and new Europe-wide regulatory and legislative steps.

Euro-Area Banking at the Crossroads
Euro-Area Banking at the Crossroads

Author: Agnes Belaisch

Publisher: INTERNATIONAL MONETARY FUND

Published: 2001-04-01

Total Pages: 74

ISBN-13: 9781451844665

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This paper analyses the process of disintermediation, the progress in consolidation, the impact of new technologies, and the role of ownership and control structures for the euro area banking sector. The impact of these trends on competition policy, "too big to fail" concerns, and financial stability is investigated. In this setting, the paper endorses stronger cross-border coordination among supervisory authorities but notes that more formal cross-border arrangements through supranational agencies seem, at this stage, premature. However, an increased capacity to perform centralized market surveillance, building on domestic supervisory information, is needed to ensure the efficiency and stability of euro-area financial markets.

Financial Regulation at the Crossroads
Financial Regulation at the Crossroads

Author: Panagiotis Delimatsis

Publisher: Kluwer Law International B.V.

Published: 2011-01-01

Total Pages: 426

ISBN-13: 9041133550

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This book brings outstanding expertise and provides insightful perspectives from nineteen authors with diverse backgrounds, including officials from international organizations, national regulators, and commercial banking, as well as academics in law, economics, political economy, and finance. The authors not only shed light on the causes of the financial turmoil, but also present thoughtful proposals that contribute to the future policy debate, and discuss opportunities that financial services can offer in funding activities which raise standards of living through initiatives in microfinance, renewable energy, and food distribution. The contributions to this volume tackle several of the thorniest issues of financial regulation in a post-crisis environment, such as: the mechanics of contagion within the financial system and the role of liquidity; moral hazard when large financial institutions are no longer subject to the disciplinary effects of bankruptcy; bank capital requirements; management compensation; design of bank resolution schemes; a function-centric versus institution-centric regulatory approach; subsidization and compatibility of stimulus packages with EU rules on state aid; trade finance and the role of the GATS prudential carve-out; and the role of financial services in promoting human rights or combating climate change.