research

The policy contribution examines the concepts of economic solidarity and responsibility, with a particular focus on the Banking Union and some of its unresolved crisis management issues. The authors argue…

For macroprudential policy to fulfil its role in curbing systemic risk it needs to manage several challenges relating to its political sensitivity and institutional context. The policy paper discusses these…

The shadow banking sector has managed to successfully replicate the functions of the traditional banking sector by creating a variant of demandable debt. However, debt in the shadow banking sector…

The IMF paper presents a novel approach to investigate and model the network of euro area banks’ large exposures within the global banking system. It documents the degree of interconnectedness…