Tag Archives: CBPP

ECB Report 2015Q3 – Resilience in the face of localised instability

As was the case previously, this post is divided in 4 parts: First, I consider the ECB’s most orthodox policy tools, the policy rates. Secondly, I review the structure of the ECB’s balance sheet. This is then followed by a … Continue reading

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ECB Report 2015Q2 – ECB Rates, Balance Sheet, QE & Tgt2 Balances Amid Greek Crisis

For reasons discussed previously, this post presents and briefly discusses a number of variables pertaining to the activity of the ECB from its inception until now. Particular focus is put on the more recent events of the last quarter and … Continue reading

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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

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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

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ECB Balance Sheet: Composition, Scope and Limits

Having considered some of the inner workings of how commercial and investment banking works from the point of view of (1)Banking intermediation, Fractional Reserve Banking and Bank runs, (2) Asymmetries of Information, Overlending and the Output gap, and  (3) Leverage … Continue reading

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Euro-Update (30): Markit Surveys, US-Iran tensions & €Z interventions

The web is awash with news reports about regional and world economics. The focus is on the recent Markit Survey results, published in the last 2 days, as well as the US-Iran tensions, bond and forex markets. Here’s my overview. … Continue reading

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