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Artificial intelligence at EU borders: Overview of applications and key issues

07-07-2021

The EU is actively exploring how AI technologies can be developed and adopted in order to improve border control and security. A number of applications for biometric identification, emotion detection, risk assessment and migration monitoring have already been deployed or tested at EU borders. AI technologies may bring important benefits for border control and security, such as increased efficiency, better fraud-detection and risk analysis. However, these powerful technologies also pose significant ...

The EU is actively exploring how AI technologies can be developed and adopted in order to improve border control and security. A number of applications for biometric identification, emotion detection, risk assessment and migration monitoring have already been deployed or tested at EU borders. AI technologies may bring important benefits for border control and security, such as increased efficiency, better fraud-detection and risk analysis. However, these powerful technologies also pose significant challenges, related in particular to their insufficient or varying accuracy and the multiple fundamental rights risks they entail (including bias and discrimination risks, data protection and privacy risks, and the risk of unlawful profiling).

Public hearing with Christine Lagarde, Chair of the European Systemic Risk Board

28-06-2021

This note is prepared in view of a regular public hearing with the Chair of the European Systemic Risk Board (ESRB), Christine Lagarde, which will take place on 1 July 2021. The aim of the meeting is to present the ESRB Annual Report and to discuss recent developments in macroprudential policy field, potential systemic risks looming ahead, notably the impact of the pandemic. The briefing takes stock of (i) the ESRB and national macroprudential authorities’ response to the pandemic outbreak; (ii ...

This note is prepared in view of a regular public hearing with the Chair of the European Systemic Risk Board (ESRB), Christine Lagarde, which will take place on 1 July 2021. The aim of the meeting is to present the ESRB Annual Report and to discuss recent developments in macroprudential policy field, potential systemic risks looming ahead, notably the impact of the pandemic. The briefing takes stock of (i) the ESRB and national macroprudential authorities’ response to the pandemic outbreak; (ii) summarises recent risk assessments; and takes a closer look at the following topics as potential sources of increasing systemic risk: (iii) corporate insolvency risks, (iv) macroprudential policy implications from low interest rates and (v) macroprudential concerns beyond banking.

UK banks in international markets-Implications of UK-euro area divergence in regulation and supervisory practice

24-06-2021

The UK enters the post-Brexit period with a regulatory framework that is closely aligned with that of the UK, and stronger in some areas. This paper highlights that the changes in regulatory strategy and the institutional framework that have been announced by the UK will make its bank regulation more responsive, and greater use of proportionality the sector will become more competitive. Competition for EU banks in international markets will intensify, though not due to an erosion of regulatory standards ...

The UK enters the post-Brexit period with a regulatory framework that is closely aligned with that of the UK, and stronger in some areas. This paper highlights that the changes in regulatory strategy and the institutional framework that have been announced by the UK will make its bank regulation more responsive, and greater use of proportionality the sector will become more competitive. Competition for EU banks in international markets will intensify, though not due to an erosion of regulatory standards.

Külső szerző

A.Lehmann, Bruegel

Low for Longer: Effects of Prolonged Negative Interest Rate Policies

08-06-2021

In June 2014, the European Central Bank (ECB) was among the first major central banks to lower policy rates into negative territory. The deposit facility rate was subsequently cut four more times, lastly in September 2019 (to -0.5%). As an unconventional monetary policy instrument used over a prolonged period, negative interest rates require attention because of their uncertain or possibly negative side effects on the banking sector and economy at large. Four papers were prepared by the ECON Committee ...

In June 2014, the European Central Bank (ECB) was among the first major central banks to lower policy rates into negative territory. The deposit facility rate was subsequently cut four more times, lastly in September 2019 (to -0.5%). As an unconventional monetary policy instrument used over a prolonged period, negative interest rates require attention because of their uncertain or possibly negative side effects on the banking sector and economy at large. Four papers were prepared by the ECON Committee’s Monetary Expert Panel, assessing the experience with negative interest rates in the euro area over the past seven years. This publication is provided by Policy Department A for the Committee on Economic and Monetary Affairs (ECON), ahead of the Monetary Dialogue with ECB President Lagarde on 21 June 2021.

Külső szerző

Grégory CLAEYS, Joscha BECKMANN, Klaus-Jürgen GERN, Nils JANNSEN, Justus INHOFFEN, Atanas PEKANOV, Thomas URL, Daniel GROS, Farzaneh SHAMSFAKHR

NIRP, Bank Profitability and Risk-Taking: Much Ado About 50 Basis Points

01-06-2021

A widespread concern about negative policy rates is that they might depress bank profits and encourage risk-taking. We find that the impact of negative rates per se is limited. Other policy measures (TLTROs, tiered deposits) have largely neutralised the impact of NIRP on bank profits. Asset purchases might have been more important by compressing the yield curve. Any small positive impact of negative rates on lending and aggregate demand may have been swamped by the negative impact of low rates on ...

A widespread concern about negative policy rates is that they might depress bank profits and encourage risk-taking. We find that the impact of negative rates per se is limited. Other policy measures (TLTROs, tiered deposits) have largely neutralised the impact of NIRP on bank profits. Asset purchases might have been more important by compressing the yield curve. Any small positive impact of negative rates on lending and aggregate demand may have been swamped by the negative impact of low rates on productivity. This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 21 June 2021.

Külső szerző

Daniel GROS, Farzaneh SHAMSFAKHR

Public hearing with Andrea Enria, Chair of the ECB Supervisory Board

19-03-2021

This note is prepared in view of a regular public hearing with the Chair of the Supervisory Board of the European Central Bank (ECB), Andrea Enria, which will take place on 23 March 2021. During the hearing, Chair Enria will present the Annual Report on supervisory activities 2020, which will be published the same day. This paper addresses (i) the implications of supervisory measures in response to COVID-19; (ii) supervisory work for 2021 (supervisory priorities, stress test, fit and proper assessments ...

This note is prepared in view of a regular public hearing with the Chair of the Supervisory Board of the European Central Bank (ECB), Andrea Enria, which will take place on 23 March 2021. During the hearing, Chair Enria will present the Annual Report on supervisory activities 2020, which will be published the same day. This paper addresses (i) the implications of supervisory measures in response to COVID-19; (ii) supervisory work for 2021 (supervisory priorities, stress test, fit and proper assessments, recovery planning); (iii) medium and longer term structural risks (Basel III, anti-money laundering, climate risk, and completing the Banking Union); (iv) recent ECB publications; and (v) recent developments in the banking sector relating to the Greensill case.

Coronavirus: Vaccination debates [What Think Tanks are thinking]

05-03-2021

As the second wave of the coronavirus passes, numbers of new infections and the death rate are currently both in decline globally. At the same time, countries across the world have begun vaccination programmes. In parallel, fears that the impact of the disease will continue, as some new, highly contagious mutations of the virus have spread, have lead governments to adopt additional preventive border restrictions and lockdowns. Among many debates on the subject, two stand out – the slower vaccination ...

As the second wave of the coronavirus passes, numbers of new infections and the death rate are currently both in decline globally. At the same time, countries across the world have begun vaccination programmes. In parallel, fears that the impact of the disease will continue, as some new, highly contagious mutations of the virus have spread, have lead governments to adopt additional preventive border restrictions and lockdowns. Among many debates on the subject, two stand out – the slower vaccination rate in the EU compared to the UK and US, and the imbalance between rich and poor countries in the availability of vaccines, with a third debate, on vaccination passports, emerging rapidly. This note offers links to recent commentaries, studies and reports from international think tanks on the pandemic and related issues. A previous item from this series on the coronavirus was published in February 2021.

When and how to unwind COVID-support measures to the banking system?

04-03-2021

This paper examines regulatory measures and supervisory practices that have supported public guarantee schemes and moratoria in euro-area countries. The focus is on flexibility shown with regard to default classifications, accounting practices and the treatment of non-performing loans. The paper identifies a number of undesirable effects and examines how soon such policies can be normalised. This document was provided by the Economic Governance Support Unit at the request of the ECON Committee.

This paper examines regulatory measures and supervisory practices that have supported public guarantee schemes and moratoria in euro-area countries. The focus is on flexibility shown with regard to default classifications, accounting practices and the treatment of non-performing loans. The paper identifies a number of undesirable effects and examines how soon such policies can be normalised. This document was provided by the Economic Governance Support Unit at the request of the ECON Committee.

Külső szerző

A. Lehmann, Bruegel

Improving the resilience of critical entities

23-02-2021

This briefing finds that the European Commission's impact assessment (IA), which accompanies the directive proposal on the resilience of critical entities, provides a good evidence-based problem definition and a sufficiently broad range of options. The assessment is mostly qualitative, due to difficulties in quantification. The IA could have been more transparent in its description of stakeholder views, and could have provided due references and a link to the feasibility study which has supported ...

This briefing finds that the European Commission's impact assessment (IA), which accompanies the directive proposal on the resilience of critical entities, provides a good evidence-based problem definition and a sufficiently broad range of options. The assessment is mostly qualitative, due to difficulties in quantification. The IA could have been more transparent in its description of stakeholder views, and could have provided due references and a link to the feasibility study which has supported the IA. Further explanations to support the preferred option in terms of efficiency would have benefited the analysis.

Improving the common level of cybersecurity across the EU

11-02-2021

Drawing on the findings of an evaluation of the NIS directive, the IA generally seems to provide a clear and relevant analysis of the shortcomings of the existing NIS Directive and the available policy options for their improvement by a new legal act. It appears that the IA's assumptions are based on a thorough stocktaking exercise involving the consultation of a big number of stakeholders. The IA could however have explained in closer detail practical implications of the proposed initiative. It ...

Drawing on the findings of an evaluation of the NIS directive, the IA generally seems to provide a clear and relevant analysis of the shortcomings of the existing NIS Directive and the available policy options for their improvement by a new legal act. It appears that the IA's assumptions are based on a thorough stocktaking exercise involving the consultation of a big number of stakeholders. The IA could however have explained in closer detail practical implications of the proposed initiative. It would have been useful if the IA had provided a fuller impact analysis particularly of potential economic costs and fundamental rights implications, as noted in the RSB opinion. Finally, the range of options assessed is limited to two in addition to the baseline. Given that the final outcome of the assessment is a significant revision of the existing legal framework, one might have expected a more granular formulation of policy options in the IA.

Következő események

29-11-2021
The Mutual Defence Clause (Article 42(7) TEU) in the face of new threats
Meghallgatás -
SEDE
29-11-2021
Competitiveness of EU agriculture
Meghallgatás -
AGRI
30-11-2021
Eliminating Violence against Women - Inter-parliamentary committee meeting
Egyéb esemény -
FEMM

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