Interaction between monetary policy and bank regulation: lessons for the ECB

Marek D¹browski
Authors registered in the RePEc Author Service: Marek Pawel DABROWSKI

No 480, CASE Network Studies and Analyses from CASE-Center for Social and Economic Research

Abstract: The European Central Bank (ECB) recently became engaged in macro-prudential policies and the micro-prudential supervision of the largest Euro area banks. These new tasks should help complete financial integration, and make the Euro area more resilient to financial instability risks. However, the multiplicity of mandates and instruments involves a risk of their inconsistency which could compromise the ECB’s core price-stability mandate as well as its independence. The experience of central banks during the recent global financial crisis confirms that such risks are not purely hypothetical.

Keywords: monetary policy; macro-prudential policy; banking regulation; banking supervision; money multiplier; money velocity; financial stability; European Central Bank (search for similar items in EconPapers)
JEL-codes: E51 E52 E58 G01 G18 G28 (search for similar items in EconPapers)
Pages: 30
Date: 2016-02
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
References: Add references at CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:sec:cnstan:0480

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