ECB - European Central Bank

Simplifying climate change adaptation for banks in the EU

5 minutes ago

This paper studies the effectiveness of risk management, one of the two...

Bank to non-bank lending and the reallocation of credit

5 days ago

We analyze how bank lending to non-bank financial institutions (NBFIs) affects credit...

Quantile selection in the gender pay gap

7 days ago

We propose a new approach to estimate selection-corrected quantiles of the gender...

Monetary policy without an anchor

8 days ago

Policymakers often cite the risk that inflation expectations might “de-anchor” as a...

Towards an efficient and integrated digital capital market in Europe: the role of tokenisation and the Eurosystem’s policy response

8 days ago

This article describes the current landscape of tokenised assets, illustrating the potential...

O brave new world, that has such digitalisation in it

8 days ago

This overview of the [33rd] Macroprudential Bulletin explores how the different articles...

Euro stablecoins and their potential effect on sovereign bond markets

8 days ago

Stablecoins denominated in US dollars have attracted considerable attention in the context...

Tokenised money market funds: new technology, familiar risks?

8 days ago

The market for tokenised money market funds (TMMFs) – money market funds...

Tokenised bonds: assessing efficiency and liquidity in a nascent market

8 days ago

Tokenisation holds the promise to automate the issuance process for bonds, reduce...

Report of the ECB-ESRB workstream on buffer usability

12 days ago

Monetary policy under multiple financing constraints

12 days ago

We revisit the credit channel of monetary policy when firms face multiple...

Dynamic credit constraints: theory and evidence from credit lines

13 days ago

We use a comprehensive Swedish credit register to document that firms across...