ECB - European Central Bank

TARGET2-Securities Annual Report 2023

about 19 hours ago

The globalization of climate change: amplification of climate-related physical risks through input-output linkages

about 22 hours ago

While global supply chains have recently gained attention in the context of...

Financial Stability Review, May 2024

2 days ago

Private markets, public risk? Financial stability implications of alternative funding sources

2 days ago

Euro area private markets have grown significantly in recent years, providing alternative...

Stress testing with multiple scenarios: a tale on tails and reverse stress scenarios

3 days ago

This paper proposes an operational approach to stress testing, allowing one to...

The rise of artificial intelligence: benefits and risks for financial stability

3 days ago

The emergence of generative artificial intelligence (AI) tools represents a significant technological...

Advancements in stress-testing methodologies for financial stability applications

3 days ago

This paper provides an overview of stress-testing methodologies in Europe, with a...

Household inflation expectations: an overview of recent insights for monetary policy

4 days ago

This paper discusses the recent wave of research that has emphasized the...

Turbulent times: geopolitical risk and its impact on euro area financial stability

4 days ago

Geopolitical risk can be a threat to financial stability and the global...

The quantity theory of money, 1870-2020

5 days ago

This study re-assesses the validity of the quantity theory of money (QTM)...

The macroeconomics of liquidity in financial intermediation

8 days ago

In financial crises, the premium on liquid assets such as US Treasuries...

2023 macroprudential stress test of the euro area banking system

8 days ago

This paper presents the updated macroprudential stress test for the euro area...