Macroprudential Bulletin
Our Macroprudential Bulletin provides insight into the work we are currently doing in the field of macroprudential policy. Our goal is to raise awareness of macroprudential policy issues in the euro area by making our ongoing work and thinking in this field more transparent, and to encourage broader discussion on these key issues.
We aren’t trying to be transparent about our work just for the sake of it. This is also an opportunity to invite you to share your views with us by sending your feedback to ecb.macroprudential.bulletin@ecb.europa.eu. You can also send us an email if you want to be notified about future issues of the Macroprudential Bulletin.
Articles
Assessing possible reform proposals
At the onset of the coronavirus pandemic, money market funds proved particularly vulnerable when faced with severe market disruption. This article looks at specific policies to address the liquidity risk of these funds and ensure they can deal with large and unexpected outflows under similar periods of stress.
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The impact of a public debt quota on money market funds
Public debt assets tend to be easier to draw down and sell during market stress than private sector debt. Having a minimum public debt quota for private debt money market funds could increase their shock-absorbing capacity. What are the costs and benefits of such a proposal?
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