Category Archives: ECB

ECB

A note on the Feasibility ECB Quantitative Easing

Recent comments from the ECB about potential attempts to mitigate a decrease in inflation through QE have led to an increased interest in the articles posted on this website about the SMP and the CBPP. However, such interventions were pursued for different … Continue reading

Posted in Current Events, ECB, Euro-zone Update, Inflation, Sovereign debt Crisis | Tagged , , , , , , , , , , , , | 2 Comments

The European Banking Union Negotiations – Supervision

The banking union is a particularly important item in the long term reform agenda of the EU/Euro-Zone, and one that has often been neglected. In a crisis that is characterised by the linkages between public finances and the banking sectors, … Continue reading

Posted in Banking, ECB, European Integration, European Interdependences, Finance, Inflation, Sovereign debt Crisis, Week Ahead | Tagged , , , , , , , , , , , , , , , , , , , | Leave a comment

Euro-Zone Banking Union: Coverage and Pace of Implementation

This post considers the present debate about the coverage of the Banking Union to be created in the Euro-Zone as well as the pace of its implementation. This coverage is contentious because it affects many established interests while attempting to … Continue reading

Posted in Banking, ECB | Tagged , , , , , , , , , , , , , , , , , , , , , | 1 Comment

ECB Market Intervention: Outright Monetary Transactions (“OMT”) – A Preliminary Assessment

Last Thursday, September 6th, the ECB introduced its new goverment bond purchasing programme, known as the Outright Monetary Transactions (“OMT”). If you are interested in getting the information from the lion’s mouth, you can watch the press conference here,read its transcript here and get the … Continue reading

Posted in ECB, Euro-zone Update, Sovereign debt Crisis | Tagged , , , | 2 Comments

Draghi hints at renewed SMP intervention

So I’ve noticed a renewed interest in the blog post “ECB Market Intervention: The Securities Market Programme (SMP)“. This was brought about by the following remarks by president of the ECB, Mario Draghi, in a speech he gave in London:

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ECB Market Intervention: The Securities Market Programme (SMP)

Update: As of September 6th, 2012, the SMP was discontinued and the assets held in its accounts were transferred assimilated by the Outright Monetary Transactions (OMT) accounts. For a preliminary assessment of the OMT, please check this blog post. Otherwise, … Continue reading

Posted in Aides Memoire, ECB, Economic Concepts | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , | 12 Comments

ECB Market Intervention: Covered Bond Purchasing Programme (CBPP)

Having looked at the tools available to the ECB, at its balance sheet, and at the transmission of monetary policy into the interbank lending market.after considering financial market failures due to Fractional Reserve Banking, overlending and VaR, I would like … Continue reading

Posted in Aides Memoire, Banking, ECB, Economic Concepts | Tagged , , , , , , , , , , , , , , , , , | 6 Comments