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Financial stability latest publications

March 7, 2019

Central Bank digital currencies: features, options, pros and cons

The emergence of cryptocurrencies is opening the way to Central Bank Digital Currencies (CBDCs). This paper highlights the pros and cons of issuing CBDCs under four different variants: from the more modest proposals to the most ambitious ones where there could be a serious disruption in financial intermediation.

January 21, 2019

Resilience of mortgage lending

If economic crises serve for anything it is for us all to learn from our mistakes. Now that the worst is behind us, we should have been thinking for some time now about how to fix what didn’t work and how to safeguard what did.

November 19, 2018

Global | 2018 G-SIBs list: the three key changes

The Financial Stability Board (FSB) has released its 2018 list for the Global Systemically Important Banks (G-SIBs). The total number of G-SIBs decreases to 29 (from 30). The three key changes versus the prior list are: i) one bank in (BPCE); ii) two outs (Nordea and RBS) and iii) two banks shift to a lower bucket (Bank of …

June 25, 2018

Completing the Banking Union is a priority

Next week’s Euro Summit is a great opportunity for Member States to move ahead with the strengthening of the Economic and Monetary Union (EMU), many parts of which still remain to be developed. Prominent among these are completing the Banking Union and defining the future role of the European Stability Mechanism (ESM).

June 11, 2018

Regulatory reform in the USA: From words to deeds

Since Donald Trump took office in 2017, the United States has embarked on a process of easing and recalibration of its financial regulation. While this process will not entail a dismantling of its regulatory framework, it is certainly the largest overhaul made since the last financial crisis.
  • Geography Tags
  • USA

April 6, 2018

Central Bank Digital Currencies in LatAm

We identified the most relevant factors for the implementation of a CBDC in LatAm, under different designs. We concluded that the region could benefit more from the adoption of a CBDC than developed countries. However, the existence of costs associated with implementation casts uncertainty on where it will be adopted first.

January 15, 2018

Monetary policy and bank profitability

Monetary policy took centre stage in the recent international crisis – as a weapon against stagnation and deflation, as an instrument for re-establishing financial stability and, in the case of the euro zone, as a crucial tool for combating the financial fragmentation which at one stage threatened the very survival of the e…

December 22, 2017

U.S. | The state of prolonged low interest rates challenges financial stability

Financial stability is defined by its ability to facilitate economic growth. Yet in the “new normal” economic environment of prolonged moderate growth, low nominal and real interest rates, an aging population, and rising longevity, the economic environment poses risks to financial stability.
  • Geography Tags
  • USA