Publications on Financial stability

30/04/2018
Using large exposure data to gauge the systemic importance of SSM significant institutions
30/04/2018
How competition and regulation drive bank and investment fund risk profiles and their market shares
30/04/2018
Targeted review of the macroprudential framework
29/11/2017
Recent Developments in Euro Area Repo Markets, Regulatory Reforms and their Impact on Repo Market Functioning
29/11/2017
Higher Future Financial Market Volatility: Potential Triggers and Amplifiers
29/11/2017
Cross-Border Banking in the Euro Area since the Crisis: What is Driving the Great Retrenchment?
29/11/2017
Overcoming Non-Performing Loan Market Failures with Transaction Platforms
23/10/2017
Report on financial structures, October 2017
24/05/2017
Resolving Non-Performing Loans: A Role for Securitisation and Other Financial Structures?
24/05/2017
Assessing the Decoupling of Economic Policy Uncertainty and Financial Conditions
24/05/2017
Measuring Credit Gaps for Macroprudential Policy
22/05/2017
Assessing the decoupling of economic policy uncertainty and financial conditions (Special Feature of the Financial Stability Review, May 2017)
23/03/2017
Focus: EME financial market developments after the 2016 US presidential election compared with developments after the 2013 tapering talk episodeEconomic Bulletin Issue 2, 2017
22/02/2017
STAMP€: Stress-Test Analytics for Macroprudential Purposes in the euro area
02/02/2017
Focus: Economic growth in the euro area is broadeningEconomic Bulletin Issue 1, 2017
22/12/2016
Focus: Impact of the November 2016 OPEC agreement on the oil marketEconomic Bulletin Issue 8, 2016
12/12/2016
ECB contribution to the European Commission’s consultation on the review of the EU macroprudential policy framework
24/11/2016
Addressing Market Failures in the Resolution of Non-Performing Loans in the Euro Area
24/11/2016
Adapting Bank Business Models: Financial Stability Implications of Greater Reliance on Fee and Commission Income
24/11/2016
Towards a Framework for Calibrating Macroprudential Leverage Limits for Alternative Investment Funds
22/11/2016
Addressing market failures in the resolution of nonperforming loans in the euro area (Special Feature of the Financial Stability Review, November 2016)
03/11/2016
Focus: Economic developments in the aftermath of the UK referendum on EU membershipEconomic Bulletin Issue 7, 2016
27/10/2016
Report on financial structures
24/05/2016
Recent Trends in Euro Area Banks' Business Models and Implications for Banking Sector Stability
24/05/2016
Systemic Implications of the European Bail-In Tool: a Multi-Layered Network Analysis
24/05/2016
A Case for Macroprudential Margins and Haircuts
23/05/2016
Recent trends in euro area banks' business models and implications for banking sector stability (Special Feature of the Financial Stability Report, May 2016)
04/02/2016
Eurosystem contribution to the European Commission's call for evidence on the EU regulatory framework for financial services
12/01/2016
Research Bulletin No. 23
10/12/2015
The impact of the CRR and CRD IV on bank financing - Eurosystem response to the DG FISMA consultation paper
25/11/2015
Systemic Risk, Contagion and Financial Networks
25/11/2015
Quantifying the Policy Mix in a Monetary Union with National Macroprudential Policies
25/11/2015
The Impact of the Basel III Leverage Ratio on Risk-Taking and Bank Stability
23/11/2015
The impact of the Basel III leverage ratio on risk-taking and bank stability
29/10/2015
Report on financial structures
24/07/2015
Research Bulletin No. 22
28/05/2015
Bank Profitability Challenges in Euro Area Banks: the Role of Cyclical and Structural Factors
28/05/2015
A Framework for Analysing and Assessing Cross-Border Spillovers from Macroprudential Policies
28/05/2015
Resolving the Legacy of Non-Performing Exposures in Euro Area Banks
27/11/2014
Capturing the Financial Cycle in Euro Area Countries
27/11/2014
Initial Considerations regarding a Macro-Prudential Instrument based on the Net Stable Funding Ratio
27/11/2014
Fire-Sale Externalities in the Euro Area Banking Sector
13/11/2014
Article: Early warning indicators for fiscal stress in European budgetary surveillanceEconomic Bulletin Issue 11, 2014
13/11/2014
Article: The financial vulnerability of euro area households - evidence from the Eurosystem's Household Finance and Consumption SurveyEconomic Bulletin Issue 11, 2014
13/10/2014
Banking structures report, October 2014
28/05/2014
Risks from Euro Area Banks’ Emerging Market Exposures
28/05/2014
Identifying Excessive Credit Growth and Leverage
28/05/2014
Recent Experience of European Countries with Macro-Prudential Policy
28/05/2014
Micro- versus Macro-Prudential Supervision: Potential Differences, Tensions and Complementarities
11/04/2014
The impaired EU securitisation market: causes, roadblocks and how to deal with them
27/11/2013
Preparatory Work for Banking Supervision at the ECB
27/11/2013
Gauging the Effectiveness of Cross-Sectional Macro-Prudential Tools through the Lens of Interbank Networks
27/11/2013
Predicting Financial Vulnerabilities to Guide the Set-Up of Counter-Cyclical Capital Buffers
04/11/2013
Banking structures report, November 2013
08/08/2013
Article: A macro stress-testing framework for bank solvency analysisEconomic Bulletin Issue 8, 2013
11/07/2013
Article: Is there a risk of a creeping rise in trade protectionism?Economic Bulletin Issue 7, 2013
29/05/2013
Exploring the Nexus between Macro-Prudential Policies and Monetary Policy Measures
29/05/2013
New ECB Survey on Credit Terms and Conditions in Euro-denominated Securities Financing and Over-the-Counter Derivatives Markets (SESFOD)
29/05/2013
Asset Support Schemes in the Euro Area
14/02/2013
Article: Enhancing the monitoring of shadow bankingEconomic Bulletin Issue 2, 2013
17/12/2012
Research Bulletin No. 17
14/12/2012
Towards a Banking Union
14/12/2012
The Impact of Bank Funding Market Fragmentation on Credit Intermediation during the Sovereign Debt Crisis
14/12/2012
Predicting Bank Distress and Identifying Interdependencies among European Banks
14/11/2012
European Commission's public consultation on the regulation of indices - Eurosystem's response
30/10/2012
Report on the first two years of the Macro-Prudential Research Network
19/07/2012
Research Bulletin No. 16
12/07/2012
Article: Assessing the anchoring of longer-term inflation expectationsEconomic Bulletin Issue 7, 2012
06/07/2012
Commission's green paper on shadow banking. The Eurosystem's reply
12/06/2012
Evaluating Interconnectedness in the Financial System on the Basis of Actual and Simulated Networks
12/06/2012
EU Bank Deleveraging – Driving Forces and Strategies
12/06/2012
Liquidity Regulation as a Prudential Tool: A Research Perspective
10/05/2012
Article: Comparing the recent financial crisis in the United States and the euro area with the experience of Japan in the 1990sEconomic Bulletin Issue 5, 2012
10/05/2012
Article: A fiscal compact for a stronger Economic and Monetary UnionEconomic Bulletin Issue 5, 2012
26/04/2012
Changes in bank financing patterns
12/04/2012
Article: Analysing government debt sustainability in the euro areaEconomic Bulletin Issue 4, 2012
13/03/2012
The great financial crisis: Lessons for financial stability and monetary policy. An ECB colloquium held in honour of Lucas Papademos, 20-21 May 2010
17/02/2012
Research Bulletin No. 15
16/02/2012
Article: Corporate indebtedness in the euro areaEconomic Bulletin Issue 2, 2012
19/12/2011
Mapping the State of Financial Stability
19/12/2011
Empirical Determinants of Non-Performing Loans
19/12/2011
Common Equity Capital, Banks' Riskiness and Required Return on Equity
19/12/2011
Global Liquidity: Measurement and Financial Stability Implications
19/12/2011
The Impact of Different Bank Characteristics on Risk and Performance
14/07/2011
Article: The new EU framework for financial crisis management and resolutionEconomic Bulletin Issue 7, 2011
15/06/2011
Systemic Risk Methodologies
15/06/2011
Financial Resolution Arrangements to Strengthen Financial Stability: Bank Levies, Resolution Funds and Deposit Guarantee Schemes
15/06/2011
Portfolio Flows to Emerging Market Economies: Determinants and Domestic Impact
15/06/2011
Financing Obstacles Faced by Euro Area Small and Medium-sized Enterprises During the Financial Crisis
31/05/2011
European Commission’s public consultation on the technical details of a possible EU framework for bank recovery and resolution – ESCB contribution
23/02/2011
European Commission’s public consultation on the review of the MiFID– Eurosystem contribution
23/02/2011
European Commission’s public consultation on credit rating agencies – Eurosystem reply
21/02/2011
Recent developments in securitisation
17/01/2011
Eurosystem reply to consultation on countercyclical capital buffer
09/12/2010
Stress-Testing Banks in a Crisis
09/12/2010
Basel III
09/12/2010
Comparing Macro-Prudential Policy Stances Across Countries
09/12/2010
Towards Macro-financial Models with Realistic Characterisations of Financial Instability
09/12/2010
New Quantitative Measures of Systemic Risk
20/10/2010
Recent developments in supervisory structures in the EU Member States (2007-10)
18/10/2010
Article: The ECB's response to the financial crisisEconomic Bulletin Issue 10, 2010
29/09/2010
Report on EU banking structures
29/09/2010
Beyond RoE: How to measure bank performance. Appendix to the report on EU banking structures
29/09/2010
EU banking sector stability
05/08/2010
Commission public consultation on short selling - Eurosystem reply
23/07/2010
EU stress-test exercise. Key messages on methodological issues
23/07/2010
2010 EU-wide stress testing exercise: Questions & Answers
23/07/2010
EU stress-test exercise. Technical note on the macroeconomic scenarios and reference risk parameters
15/07/2010
Article: The effectiveness of euro area fiscal policiesEconomic Bulletin Issue 7, 2010
31/05/2010
Addressing risks associated with foreign currency lending in EU member states
31/05/2010
Macro-prudential Policy Objectives and Tools
31/05/2010
Analytical Models and Tools for the Identification and Assessment of Systemic Risks
31/05/2010
Recent Regulatory Initiatives to Address the Role of Systemically Important Financial Institutions
31/05/2010
Financial Networks and Financial Stability
28/04/2010
Memorandum of understanding on the exchange of information among national central credit registers for the purpose of passing it on to reporting institutions
15/04/2010
Article: Prospects for real and financial imbalances and a global rebalancingEconomic Bulletin Issue 4, 2010
15/04/2010
Article: Measures taken by euro area governments in support of the financial sectorEconomic Bulletin Issue 4, 2010
11/02/2010
Article: Euro area commercial property markets and their impact on banksEconomic Bulletin Issue 2, 2010
08/02/2010
Commission communication to 'An EU framework for cross-border crisis management in the banking sector': Eurosystem's reply to the public consultation
15/01/2010
Structural indicators for the EU banking sector
18/12/2009
The Concept of Systemic Risk
18/12/2009
The Importance of Insurance Companies for Financial Stability
18/12/2009
Tools to Detect Asset Price Misalignments
18/12/2009
Is Basel II Pro-cyclical? A Selected Review of the Literature
18/12/2009
Towards the European Systemic Risk Board
28/08/2009
Credit default swaps and counterparty risk
28/08/2009
EU banking sector stability
13/08/2009
The Eurosystem's stance on the Commission's consultation document on the review of directive 94/19/EC on deposit-guarantee schemes
15/06/2009
Some Lessons from the Financial Market Turmoil for the Use of Market Indicators in Financial Stability Analysis
15/06/2009
Estimating Probabilities of Hedge Fund Liquidation
15/06/2009
Balance Sheet Contagion and the Transmission of Risk in the Euro Area Financial System
15/06/2009
Liquidity Hoarding and Interbank Market Spreads
15/06/2009
Determinants of Bank Lending Standards and the Impact of the Finance Turmoil
14/05/2009
Article: Credit rating agencies: developments and policy issuesEconomic Bulletin Issue 5, 2009
13/05/2009
EU banks' funding structures and policies
06/03/2009
Guiding principles for bank asset support schemes
25/02/2009
European Commission's consultation on hedge funds - Eurosystem contribution
19/12/2008
The incentive structure of the ‘originate and distribute’ model
19/12/2008
Recommendations of the Governing Council of the European Central Bank on the pricing of recapitalisations
19/12/2008
Recommendations of the Governing Council of the European Central Bank on government guarantees for bank debt
19/12/2008
Commercial property markets - financial stability risks, recent developments and EU banks' exposures
17/12/2008
Covered bonds in the EU financial system
15/12/2008
Securitisation in the Euro Area
15/12/2008
Liquidity Risk Premia in Money Market Spreads
15/12/2008
Risk Management Lessons of the Financial Turmoil
15/12/2008
Recent Policy Initiatives to Strengthen the Resilience of the Financial System
28/11/2008
EU banks' liquidity stress testing and contingency funding plans
13/10/2008
EU banking structures
09/10/2008
Article: Cross-border bank mergers & aquisitions and institutional investorsEconomic Bulletin Issue 10, 2008
25/09/2008
Commission's draft directive/regulation on credit rating agencies
02/09/2008
Simulating financial instability. Conference on stress testing and financial crisis simulation exercises, 12-13 July 2007
11/07/2008
Payment systems and market infrastructure oversight report
20/06/2008
Memorandum of Understanding on Co-operation between the Financial Supervisory Authorities, Central Banks and Finance Ministries of the EU on Cross-Border Financial Stability
09/06/2008
How Has CDO Market Pricing Changed During The Turmoil? Evidence from CDS Index Tranches
09/06/2008
What Equity, Credit and Credit Default Swap Markets Tell Us About the Risk Profile of Banks
09/06/2008
Securitisation, Bank Risk-Taking and Loan Supply in the Euro Area
17/04/2008
Article: Developments in the EU arrangements for financial stabilityEconomic Bulletin Issue 4, 2008
31/01/2008
ECB Payments and monetary and financial stability
12/12/2007
Measuring Financial Market Liquidity and Risk Aversion Interdependence
12/12/2007
Net Asset Value Triggers as Early Warning Indicators of the Hedge Fund Liquidation
12/12/2007
Commercial Property Investment and Financial Stability
12/12/2007
The Impact of Short-Term Interest Rates on Bank Credit Risk-Taking
12/12/2007
Bank Capital In Europe and the US
30/11/2007
Review of the Lamfalussy framework - Eurosystem contribution
14/11/2007
EU banking sector stability
05/10/2007
EU banking structures
09/08/2007
Article: Leveraged buyouts and financial stabilityEconomic Bulletin Issue 8, 2007
09/08/2007
Article: The financing of small and medium-sized enterprises in the euro areaEconomic Bulletin Issue 8, 2007
09/08/2007
Article: Adjustment of global imbalances in a financially integrating worldEconomic Bulletin Issue 8, 2007
11/07/2007
Potential impact of solvency II on financial stability
15/06/2007
Bank Income Diversity and Systemic Risk
15/06/2007
Global Macro-Financial Developments and Expected Corporate Sector Default Frequencies in the Euro Area
15/06/2007
Assessing Portfolio Credit Risk in a Sample of EU Large and Complex Banking Groups
15/06/2007
Measuring Investors' Risk Appetite
15/06/2007
Accounting for Rising Leveraged Buyout Activity
18/04/2007
Large banks and private equity-sponsored leveraged buyouts in the EU
11/04/2007
Risk measurement and systemic risk. Fourth joint central bank research conference 8-9 November 2005
15/02/2007
Article: The EU arrangements for financial crisis managementEconomic Bulletin Issue 2, 2007
19/12/2006
Assessment of accounting standards from a financial stability perspective
11/12/2006
Explaining Episodes of Dynamic Credit Growth in Central and Eastern Europe
11/12/2006
The Information Content of CDS Index Tranches for Financial Stability Analysis
11/12/2006
Identifying Large and Complex Banking Groups for Financial System Stability Assessment
11/12/2006
Assessing Systemic Risk in the European Insurance Sector
11/12/2006
The EU Arrangements for Financial Crisis Management
09/11/2006
Article: Financial development in central, eastern and south-eastern EuropeEconomic Bulletin Issue 11, 2006
07/11/2006
EU banking sector stability
25/10/2006
EU banking structures
23/10/2006
Recent developments in supervisory structures in EU and acceding countries
29/09/2006
Indicators of financial integration in the euro area
01/06/2006
What Drives EU Banks' Stock Returns? An Analysis Based on the Return Decomposition Technique
01/06/2006
Assessing Banking System Risk with Extreme Value Analysis
01/06/2006
Country-Level Macro Stress-Testing Practices
11/05/2006
Article: The contribution of the ECB and the Eurosystem to European financial integrationEconomic Bulletin Issue 5, 2006
19/01/2006
Article: Hedge funds: developments and policy implicationsEconomic Bulletin Issue 1, 2006
08/12/2005
Main Effects from the New Accounting Framework on Banks
08/12/2005
What Determines Euro Area Bank Profitability?
08/12/2005
Assessing the Financial Vulnerability of Mortgage-Indebted Euro Area Households Using Micro-Level Data
08/12/2005
Central Counterparty Clearing Houses and Financial Stability
08/12/2005
Financial Market Contagion
08/12/2005
Measurement Challenges in Assessing Financial Stability
01/12/2005
The European Commission’s Green Paper on mortgage credit in the EU. Eurosystem contribution to the public consultation
25/11/2005
Large EU banks' exposures to hedge funds
17/11/2005
Green paper on the enhancement of the EU framework for investment funds. Eurosystem contribution to the Commission's public consultation
17/10/2005
EU banking sector stability
13/10/2005
Article: Assessing the performance of financial systemsEconomic Bulletin Issue 10, 2005
07/10/2005
EU banking structures
30/09/2005
Indicators of financial integration in the euro area, September 2005
01/08/2005
Eurosystem contribution to the public consultation by the European Commission on the Green Paper on Financial Services Policy (2005-2010)
20/07/2005
Reply of the ECB to the public consultation by the CEBS on the consolidated financial reporting framework for credit institutions
31/05/2005
Has the European Collateralised Debt Obligations Market Matured?
31/05/2005
Assessing the Determinants of Financial Distress in French, Italian and Spanish Firms
31/05/2005
Indicators of Financial Distress in Mature Economies
31/05/2005
Assessing Financial Stability: Conceptual Boundaries and Challenges
12/05/2005
Article: Consolidation and diversification in the euro area banking sectorEconomic Bulletin Issue 5, 2005
12/05/2005
Article: The evolving framework for corporate governanceEconomic Bulletin Issue 5, 2005
22/02/2005
Review of the application of the Lamfalussy framework to EU securities markets legislation
10/02/2005
Article: Bank market disciplineEconomic Bulletin Issue 2, 2005
31/01/2005
Banking structures in the new EU Member States
20/01/2005
Article: The new Basel capital accord: main features and implicationsEconomic Bulletin Issue 1, 2005
15/12/2004
Cross-Border Bank Contagion Risk in Europe
15/12/2004
Growth of the Hedge Fund Industry: Financial Stability Issues
15/12/2004
Securities Settlement Systems and Financial Stability
15/12/2004
The Comprehensive Approach of Basel II
15/12/2004
Aggregate EU Household Indebtedness: Financial Stability Implications
24/11/2004
Report on EU banking structure 2004
24/11/2004
EU banking sector stability 2004
11/11/2004
Article: Developments in the EU framework for financial regulation, supervision and stabilityEconomic Bulletin Issue 11, 2004
08/07/2004
Article: Accounting for the resilience of the EU banking sector since 2000Economic Bulletin Issue 7, 2004
08/07/2004
Accounting for the resilience of the EU banking sector since 2000
24/05/2004
Credit risk transfer by EU banks: activities, risks and risk management
12/02/2004
Article: The impact of fair value accounting on the European banking sector - a financial stability perspectiveEconomic Bulletin Issue 2, 2004
02/12/2003
Comments of the ECB on the third consultative document of the European Commission on regulatory capital review
28/11/2003
Structural analysis of the EU banking sector, Year 2002
19/11/2003
EU banking sector stability
09/10/2003
Article: The integration of Europe’s financial marketsEconomic Bulletin Issue 10, 2003
09/10/2003
Article: Recent developments in financial structures of the euro areaEconomic Bulletin Issue 10, 2003
04/09/2003
The New Basel Capital Accord: reply of the European Central Bank to the third consultative proposals (CP3)
07/08/2003
Article: Recent developments in the euro area banking sectorEconomic Bulletin Issue 8, 2003
18/06/2003
Developments in national supervisory structures
10/04/2003
Article: A bank lending survey for the euro areaEconomic Bulletin Issue 4, 2003
22/03/2003
Memorandum of Understanding on the exchange of information among credit registers for the benefit of reporting institutions
12/02/2003
EU banking sector stability
16/11/2002
Structural analysis of the EU banking sector
08/08/2002
Article: Recent developments and risks in the euro area banking sectorEconomic Bulletin Issue 8, 2002
28/05/2002
Developments in banks' liquidity profile and management
09/05/2002
Article: International supervisory co-operationEconomic Bulletin Issue 5, 2002
08/11/2001
Fair value accounting in the banking sector: ECB comments on the "Draft standard and basis for conclusions - financial instruments and similar items" issued by the Financial Instruments Joint Working Group of Standard Setters
15/06/2001
The New Basel Capital Accord, Comments of the European Central Bank
17/05/2001
Article: The new capital adequacy regime the ECB perspectiveEconomic Bulletin Issue 5, 2001
30/03/2001
The role of central banks in prudential supervision
20/12/2000
EU banks' margins and credit standards
20/12/2000
Mergers and acquisitions involving the EU banking industry - facts and implications
10/08/2000
Article: Price and cost indicators for the euro area: an overviewEconomic Bulletin Issue 8, 2000
22/04/2000
Article: EMU and banking supervisionEconomic Bulletin Issue 4, 2000
03/04/2000
EU banks' income structure
03/04/2000
Asset prices and banking stability
30/07/1999
The effects of technology on the EU banking systems
20/04/1999
Article: Banking in the euro area: structural features and trendsEconomic Bulletin Issue 4, 1999
25/02/1999
Possible effects of EMU on the EU banking systems in the medium to long term