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.
This contribution analyses the deficiencies of the current framework and identifies possible responses, in line with three levels of reform ambition.
As interest rates increase over the course of the next few months, there are bound to be asset-price corrections & rethinking of investment decisions.
Reform of the EU central clearing framework is an essential part of capital markets union, but reform should not be driven by current energy turmoil.
In this paper, we analyse whether green sovereign bonds are systematically priced differently to conventional sovereign bonds in the secondary markets
Bank of England MPC celebrates 25 years and we use this occasion to compare its decision-making process to that of the ECB