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Past Event

Macroprudential policy: what instruments can be effective?

The concept of “macroprudential” financial policy, long advocated from Basel by the Bank for International Settlements, has gained prominence in the wake of recent financial turmoil, and most large jurisdictions have created new institutions that focus on the macroprudential level as opposed to traditional, “micro” prudential supervision of individual financial institutions. This includes the European […]

Date: Mar 6 - Topic: Banking and capital markets

The concept of “macroprudential” financial policy, long advocated from Basel by the Bank for International Settlements, has gained prominence in the wake of recent financial turmoil, and most large jurisdictions have created new institutions that focus on the macroprudential level as opposed to traditional, “micro” prudential supervision of individual financial institutions. This includes the European Systemic Risk Board, the US Financial Stability Oversight Council, and various new bodies at the level of individual member states. These new institutions, however, will ultimately be only as effective as the instruments they wield. Intriguingly, the debate on macroprudential policy instruments is still at an early stage. To explore it further, this session presented new analysis from the Bank of England as well as a perspective from one of the Eurosystem’s National Central Banks.

Speakers

David Aikman has overall responsibility for advising the Bank of England’s newly formed Financial Policy Committee on macroprudential policy tools. His team also leads for the Bank on prudential policy matters in Basel, at the European Systemic Risk Board and in other EU-level discussions. He joined the Bank in 2003 and has worked there in macroeconomic forecasting and analysis. He holds a PhD in Macroeconomics from the University of Warwick.

Stijn Ferrari joined the National Bank of Belgium in 2009 and works there in the Prudential Policy and Financial Stability Department. In this capacity he participates in several international working groups on macroprudential policy instruments. He holds an MSc in Advanced Studies in Economics and a PhD in Economics from Katholieke Universiteit Leuven.

Chair – Nicolas Véron, Senior Fellow, Bruegel

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External Publication

European Parliament

Don't let up - The EU needs to maintain high standards for its banking sector as the European economy emerges from the COVID-19 pandemic

In-depth analysis prepared for the European Parliament's Committee on Economic and Monetary Affairs (ECON).

By: Rebecca Christie and Monika Grzegorczyk Topic: Banking and capital markets, European Parliament Date: October 21, 2021
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Blog Post

Better sustainability data is still needed to accelerate the low-carbon transition in capital markets

Investors need more trustworthy sustainability data. Regulators should leave space for better products to emerge, while remaining alert to well-known patterns of misconduct in capital markets.

By: Alexander Lehmann Topic: Banking and capital markets Date: October 18, 2021
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External Publication

European Parliament

Tailoring prudential policy to bank size: the application of proportionality in the US and euro area

In-depth analysis prepared for the European Parliament's Committee on Economic and Monetary Affairs (ECON).

By: Alexander Lehmann and Nicolas Véron Topic: Banking and capital markets, European Parliament, Macroeconomic policy Date: October 14, 2021
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Past Event

Past Event

What is the link between biodiversity loss and financial instability?

Biodiversity loss impacts financial stability. How big is the risk of biodiversity loss for financial institutions?

Speakers: Sylvie Goulard, Romain Svartzman, Guntram B. Wolff and Michael Wilkins Topic: Banking and capital markets Date: October 5, 2021
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External Publication

Brexit and European finance: Prolonged limbo

It will take longer than many had anticipated for the dust to settle on the post-Brexit financial landscape and its respective implications for the EU and the UK.

By: Nicolas Véron Topic: Banking and capital markets Date: September 24, 2021
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Past Event

Past Event

Setting up the EU as a new benchmark borrower

At this closed-door event Siegfried Ruhl, Counselor to the Director-General for Budget at the European Commission will discuss the EU's borrowing program.

Speakers: Rebecca Christie and Siegfried Ruhl Topic: Banking and capital markets Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: September 16, 2021
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Opinion

El Salvador’s great crypto experiment

Can bitcoin surpass the dollar in popularity and make El Salvador the first state to operate entirely with a private currency?

By: Maria Demertzis Topic: Banking and capital markets Date: September 14, 2021
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Past Event

Past Event

Sustainable finance

Bruegel Annual Meetings, Day 3 - In this session on the final day of the Meetings, our panelists will discuss the future of finance and its sustainability.

Speakers: Maria Demertzis, Alberto De Paoli, Pierre Heilbronn and Alexandra Jour-Schroeder Topic: Banking and capital markets, Green economy Location: Palais des Académies, Rue Ducale 1, Brussels Date: September 3, 2021
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Past Event

Past Event

Monetary and macroeconomic policies at the crossroads

Bruegel Annual Meetings, Day 2- In this session we would like to discuss monetary and macroeconomic policies after Covid-19.

Speakers: Grégory Claeys, Per Callesen, Gita Gopinath, Jorge Sicilia Serrano and Lawrence H. Summers Topic: Banking and capital markets Location: PALAIS DES ACADEMIES, RUE DUCALE 1 Date: September 2, 2021
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Past Event

Past Event

European banks: under global competitive pressure?

Bruegel Annual Meetings, Day 2 - European banks have lost stature and remain generally low-profitability, low-valuation in comparison to their global peers. Is that a problem? If so, what can EU policymakers do to address it?

Speakers: José Antonio Álvarez Álvarez, Mairead McGuinness and Nicolas Véron Topic: Banking and capital markets, Macroeconomic policy Location: Palais des Academies, Rue Ducale 1 Date: September 2, 2021
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Podcast

Podcast

Environmental, societal and governance criteria: hit or miss?

Is sustainable investing contributing to society’s climate and social goals, or preventing systemic change?

By: The Sound of Economics Topic: Banking and capital markets, Green economy Date: August 26, 2021
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Opinion

Small investors punch above their weight when it comes to improving corporate governance

Far from being irresponsible know-nothings, retail investors provide a vital counterpoint to institutional investors.

By: Rebecca Christie Topic: Banking and capital markets Date: August 25, 2021
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