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Blog Post

Silvia Merler

The strange case of the MPS capital shortfall

Italy's banking saga continues with the announcement that beleaguered MPS may need to find an additional €3bn. What exactly has changed, and what does it say about ECB decision making?

By: Silvia Merler Topic: Finance & Financial Regulation Date: December 27, 2016
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Opinion

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Guntram B. Wolff

Eurozone QE and bank profitability: Why it is too early to taper

In the eyes of the critics, the quantitative easing programs have been of little help to growth and inflation and have instead been an attack on savers, undermining the profitability of banks and insurances. Do these arguments stand scrutiny?

By: Maria Demertzis and Guntram B. Wolff Topic: European Macroeconomics & Governance Date: December 8, 2016
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External Publication

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The impact of the legal and operational structures of euro-area banks on their resolvability

This paper evaluates the obstacles to resolvability that the legal and operational structures of the large euro-area banks could present, assuming that it is possible to liquidate smaller and medium-sized banks through a transfer of the relevant activities to other banks.

By: Dirk Schoenmaker Topic: Finance & Financial Regulation Date: December 6, 2016
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Parliamentary Testimony

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Energy policies in Eastern European partners

Euronest Parliamentary Assembly, 1 December 2016.

By: Georg Zachmann Topic: Parliamentary Testimonies Date: December 2, 2016
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Parliamentary Testimony

petropoulos-bruegel-rev-pptEuropean Parliament

Collaborative economy

Georgios Petropoulos was invited to speak at a workshop on collaborative economy organised by the Internal Market Committee (IMCO) of the European Parliament on November 8.

By: Georgios Petropoulos Topic: European Parliament, Parliamentary Testimonies Date: November 18, 2016
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Parliamentary Testimony

geo-blocking-petropoulos-pptEuropean Parliament

Geo-blocking and non audiovisual copyrighted content services

Georgios Petropoulos attended a meeting of IMCO Working Group on the Digital Single Market on November 14.

By: Georgios Petropoulos Topic: European Parliament, Parliamentary Testimonies Date: November 18, 2016
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Parliamentary Testimony

EFTA Parliamentary committee on Brexit

Guntram Wolff attended a panel debate on Brexit, organised by the EFTA Parliamentary Committee.

By: Guntram B. Wolff Topic: Parliamentary Testimonies Date: November 18, 2016
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Working Paper

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Reform of the European Union financial supervisory and regulatory architecture and its implications for Asia

This Working Paper reviews recent developments in the EU’s financial supervisory and regulatory architecture with a view to draw out lessons for regional financial regulatory architecture in Asia.

By: Zsolt Darvas, Dirk Schoenmaker and Nicolas Véron Topic: Finance & Financial Regulation, Global Economics & Governance Date: November 17, 2016
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Opinion

Nicolas Véron

Breaking the vicious circle

Nicolas Véron argues that EU banking union can only be complete if the vast amounts of domestic sovereign debt held by many banks are reduced

By: Nicolas Véron Topic: Finance & Financial Regulation Date: October 21, 2016
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Blog Post

MariaDemertzis1 bw

A framework for thinking about bad loans

An important guiding principle in resolving non-performing loans (NPLs) should be to ensure that viable debt remains serviced, while non-viable debt gets resolved. We present here a framework to approach the issue.

By: Maria Demertzis Topic: Finance & Financial Regulation Date: October 18, 2016
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Blog Post

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ECB bank supervision cannot tackle debt restructuring single-handedly

The European Central Bank has begun to tackle a key symptom of banking sector fragility with its proposed guidelines on banks’ management of non-performing loans (NPLs). But detailed targets for the reduction of NPLs and prescriptions for the internal governance and management of distressed assets also represent a new style of more intrusive supervision. For the ECB to succeed in bank rehabilitation, a macroeconomic scenario should guide the deleveraging process, capacity needs to be built, and governments will need to support a more holistic restructuring effort.

By: Alexander Lehmann Topic: Finance & Financial Regulation Date: October 13, 2016
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Policy Contribution

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Fiscal capacity to support large banks

This Policy Contribution outlines a fiscal cost scenario for the recapitalisation of large banks during a severe systemic crisis.

By: Pia Hüttl and Dirk Schoenmaker Topic: Finance & Financial Regulation Date: October 3, 2016