Have you ever heard of Metéora? Metéora is a group of rock pillars in Greece at the very top of which several monasteries were built centuries ago. As you can imagine, it is quite hard to reach these monasteries. In fact, until the 1920s or so, the only way to get there was by sitting…
SummaryFocusThis paper assesses the effectiveness of dynamic provisioning and conditional reserve requirements, in Peru, where banks can grant loans in both domestic currency and US dollars. These measures had two distinct policy objectives. Dynamic pr...
SummaryFocusThis paper estimates the impact of changing reserve requirements for banks on the credit supply in Brazil. We use a database that covers virtually all loans to private non-financial firms from the first quarter of 2008 to the second quarter...
SummaryFocusThis paper studies the impact on borrowers of loan-to-value (LTV) limits in Brazil, restricting the amount of credit that borrowers can take out. It considers two major housing finance segments. The first segment comprises housing loans dir...
Today I would like to describe how the euro area economy is developing and explain our latest monetary policy decisions. The economic recovery is continuing but inflation developments remain subdued. So, while we are confident in the recovery, we still need a patient and persistent approach to our monetary policy to ensure that medium-term price…
The Securities and Exchange Commission today announced the agenda and panelists for the 36th Annual Government-Business Forum on Small Business Capital Formation. The November 30 event will begin at 9 a.m. Central Standard Time (10 a.m. Eastern Stan...
Multi-national banking group Santander and credit card firm American Express have announced they will cryptocurrency firm Ripple's technology for cross-border payments via blockchain. The firms have partnered with Ripple to speed up cross-border payments between the U.S. and the U.K. by using blockchain technology. Payments made by American Express' business customers on its...
Today I would like to come back on an issue that has found some of our attention in the recent past: securitisation. What has happened: Is it part of CMU agenda? It is not helping banks to sanitize their balance sheets more rapidly when there is such a great need?
The ECB has introduced several monetary policy measures since June 2014, which have played a crucial role in supporting the economy and have been demonstratively effective in preventing a period of disinflation from slipping into one of outright deflation. More than three years later, the risks of deflation have mostly disappeared due to the effective…
In its ongoing efforts to protect Main Street investors, the Securities and Exchange Commission’s Enforcement Division today issued a report highlighting its priorities for the coming year as well as a review of enforcement actions that took place duri...