Banking and capital markets
While the world was saved from financial instability during the pandemic, new developments in the European Union’s financial system are emerging.
While the COVID-19 pandemic has not led to financial instability thanks to effective European Central Bank intervention and major government interventions, new developments in the EU financial system are emerging.
Our researchers monitor financial sector developments and public policy responses, and make policy recommendations with a specific attention to the role of the financial sector to support the EU’s green and digital transitions.
Recently published and updated
Exchange rates and fundamentals: Forecasting with long maturity forward rates
The Euro at 25: Fit for purpose?
Why I’m not concerned about the billions of central bank “losses”
Central banks’ losses are not a cause for concern
Barcelona 5: The International Economic and Financial Order After the Pandemic and War
Better Backstops, Safer Banks
The EU’s banking union needs to keep growing for Europe’s economy to thrive.
Events
Next steps for the European Anti-Money Laundering Authority
At this invitation-only event Raluca Pruna discussed the state of the legislation to create an EU Anti-Money Laundering Authority
Government bonds in the ECB collateral framework: What role for credit ratings in the new normal?
How does the ECB's reliance on external credit assessments affect bond yields, government vulnerability, and potential sovereign debt crises?
Taking stock: 25 years of EMU
Closed-door conference jointly organized with De Nederlandsche Bank
Podcasts
Climate change, the next big financial threat
A warming planet poses new risks to European sovereign debt. How can the continent protect itself?
Capital markets union - why now?
What is hindering the EU from achieving a Capital markets union?
What to do with frozen Russian assets
How could the EU help further fund Ukraine two years into the war?
Ten years of Europe’s banking union
How far along is Europe’s banking union, and what is next?