Fernando Avalos and Emmanuel C Mamatzakis, (2018), “Euro area unconventional monetary policy and bank resilience”, BIS Working Papers, No 754, 2 Νοεμβρίου
The ECB has deployed a broad array of unconventional monetary policy tools over the last few years. Those include negative interest rates, and several programmes of asset purchases and long-term liquidity provision, which we bundle together under the general label of “quantitative easing”. We study the impact of these measures on the “resilience” of banks in the euro area. We characterise the bank level resilience in terms of the size of a shock to profitability, as measured by returns on assets, which a bank can withstand without wiping out its loss-absorbing buffers.
Σχετικές Αναρτήσεις
- Dell’Ariccia G., Rabanal P. and SandriWednesday D., (2018), «Unconventional monetary policies in the euro area, Japan, and the United Kingdom», Hutchins Center Working Paper #48, 17 Οκτωβρίου
- Gregory Claeys, Maria Demertzis, (2017), «How should the European Central Bank ‘normalise’ its monetary policy?», Bruegel, 23 Νοεμβρίου