28

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The relaxation of bank capital and liquidity requirements in the wake of the coronavirus crisis

29-10-2020

EU banks entered the coronavirus crisis with high capital and liquidity buffers resulting from the reforms undertaken after the global financial crisis of 2007-2009. This allowed a bold and swift response by supervisors oriented towards supporting banks’ ability to provide credit to the real economy. This paper provides an overview and an assessment of the regulatory response to the crisis, and suggests some recommendations for the future design of countercyclical regulation.

EU banks entered the coronavirus crisis with high capital and liquidity buffers resulting from the reforms undertaken after the global financial crisis of 2007-2009. This allowed a bold and swift response by supervisors oriented towards supporting banks’ ability to provide credit to the real economy. This paper provides an overview and an assessment of the regulatory response to the crisis, and suggests some recommendations for the future design of countercyclical regulation.

Autorzy zewnętrzni

J.ABAD, R.REPULLO

Has the relaxation of capital and liquidity buffers worked in practice?

29-10-2020

We analyse the recent policy decisions made by the ECB and the national authorities related to capital, liquidity, and shareholders’ remuneration aimed at promoting credit supply from the banking sector to the coronavirus-afflicted economy. We forecast the impact of the regulatory decisions based on the empirical literature, discuss the factors that reduce the banks’ incentives to expand loan portfolios and develop policy suggestions intended to mitigate the effect of these factors.

We analyse the recent policy decisions made by the ECB and the national authorities related to capital, liquidity, and shareholders’ remuneration aimed at promoting credit supply from the banking sector to the coronavirus-afflicted economy. We forecast the impact of the regulatory decisions based on the empirical literature, discuss the factors that reduce the banks’ incentives to expand loan portfolios and develop policy suggestions intended to mitigate the effect of these factors.

Autorzy zewnętrzni

Alexandra MATYUNINA, Steven ONGENA

Information Package for the Committee of Inquiry on the protection of animals during transport (ANIT)

27-10-2020

This note aims to provide the Members of the ANIT Committee with a state of play on existing literature and data sources on live animal transport through links to key information sources and existing reports and studies.

This note aims to provide the Members of the ANIT Committee with a state of play on existing literature and data sources on live animal transport through links to key information sources and existing reports and studies.

Theory, Evidence, and Risks of the ECB’s Asset Purchase Programme

30-09-2020

In response to the COVID-19 crisis, the ECB has relaunched a massive asset purchase programme within its combined-arms monetary strategy. This paper presents and discusses the theory and the evidence of the central bank’s asset purchases, mainly in the euro area. It analyses the role of asset purchase programmes in the ECB’s toolkit and the potential associated risks, focusing specifically on the problems of the programmes’ unwinding. Finally, the paper offers some possible alternatives to the asset ...

In response to the COVID-19 crisis, the ECB has relaunched a massive asset purchase programme within its combined-arms monetary strategy. This paper presents and discusses the theory and the evidence of the central bank’s asset purchases, mainly in the euro area. It analyses the role of asset purchase programmes in the ECB’s toolkit and the potential associated risks, focusing specifically on the problems of the programmes’ unwinding. Finally, the paper offers some possible alternatives to the asset purchase programmes. This document was provided by Policy Department A at the request of the Committee on Economic and Monetary Affairs (ECON).

Autorzy zewnętrzni

Pierpaolo BENIGNO, Paolo CANOFARI, Giovanni DI BARTOLOMEO, Marcello MESSORI

EU External Migration Policy and the Protection of Human Rights

28-09-2020

This in-depth analysis focuses on the human rights implications of EU external migration policy interventions: (1) identifying human rights obligations owed to third-country nationals when engaging in cooperation with third countries and non-EU actors; (2) assessing the means and level of compliance with these obligations when designing and implementing the main policy instruments; and (3) determining the existence and adequacy of operational, reporting, monitoring and accountability mechanisms available ...

This in-depth analysis focuses on the human rights implications of EU external migration policy interventions: (1) identifying human rights obligations owed to third-country nationals when engaging in cooperation with third countries and non-EU actors; (2) assessing the means and level of compliance with these obligations when designing and implementing the main policy instruments; and (3) determining the existence and adequacy of operational, reporting, monitoring and accountability mechanisms available in each case to track and respond to potential violations. Particular attention is paid to soft-law tools, on account of their enhanced potential to erode the enforceability of obligations, to downgrade democratic accountability and generally undermine the rule of law. Paving the way for the New Pact on Migration and Asylum, special emphasis is placed on cooperation under the Global Approach to Migration and Mobility, the EU Agenda on Migration and the Migration Partnership Framework, including informal arrangements concluded by Frontex or by the Member States themselves. Four case studies guide the analysis and illustrate findings: (1) the EU-Turkey Statement; (2) the multi-modal cooperation with Libya; (3) the Joint Way Forward with Afghanistan; and (4) collaboration with Niger under the EUCAP Sahel mission. The in-depth analysis reveals that the full effect of the EU fundamental rights acquis in extra-territorial situations has not been duly accounted for and proposes a system to ensure compliance with the relevant standards covering the pre-conclusion, design, adoption, implementation, evaluation and review phases, highlighting the role of the European Parliament and civil society organisations.

Autorzy zewnętrzni

Dr Violeta MORENO-LAX,

Unlocking the potential of the EU Treaties: An article-by-article analysis of the scope for action

28-05-2020

The latest Eurobarometer surveys indicate that there is consistent support for more EU action in various policy areas, including preventing climate change, tackling irregular migration, designing a common foreign and security policy and preventing terrorism. Assuming that the Treaty of Lisbon will be the framework for EU action for the foreseeable future, this paper explores possibilities for broadening the scope of EU action in order to respond to these repeated calls from EU citizens. With a view ...

The latest Eurobarometer surveys indicate that there is consistent support for more EU action in various policy areas, including preventing climate change, tackling irregular migration, designing a common foreign and security policy and preventing terrorism. Assuming that the Treaty of Lisbon will be the framework for EU action for the foreseeable future, this paper explores possibilities for broadening the scope of EU action in order to respond to these repeated calls from EU citizens. With a view to reappraising the legal framework of the EU, it aims at identifying those legal bases in the Treaties that remain either under-used (in terms of the purposes they could be used to achieve) or completely unused. It analyses possible ways of delivering on EU policies, including in the development of common rules, providing enhanced executive capacity, better implementation of existing measures, targeted financing and increased efficiency. An overview table sets out possible initiatives, which are then explored in greater detail in 50 fiches, organised according to broad policy clusters reflecting the priorities of the von der Leyen Commission. Possible measures are mentioned in each fiche, along with the legal bases in the current Treaties on which action could potentially be based. It is a revised and expanded version of a paper published in January 2019, ahead of the European elections.

Policy Departments' Monthly Highlights - May 2020

11-05-2020

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

Policy Departments' Monthly Highlights - February 2020

10-02-2020

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

Climate change [What Think Tanks are thinking]

05-12-2019

Government officials from across the world are currently engaged in the 2019 United Nations Climate Change Conference, also known as COP25, focussing on how to implement the 2015 Paris Agreement on reducing greenhouse gas emissions. The conference, which runs from 2 to 13 December 2019, was moved at short notice to Madrid in Spain, to avoid the social unrest in Chile. Meanwhile, the new President of the European Commission, Ursula von der Leyen, is preparing a set of new climate and environmental ...

Government officials from across the world are currently engaged in the 2019 United Nations Climate Change Conference, also known as COP25, focussing on how to implement the 2015 Paris Agreement on reducing greenhouse gas emissions. The conference, which runs from 2 to 13 December 2019, was moved at short notice to Madrid in Spain, to avoid the social unrest in Chile. Meanwhile, the new President of the European Commission, Ursula von der Leyen, is preparing a set of new climate and environmental initiatives, as part of the European Green Deal. This note brings together commentaries, analyses and studies by major international think tanks and research institutes on climate talks and wider issues relating to climate change.

Rule of law [What Think Tanks are thinking]

15-11-2019

The European Union is a community of law, with the rule of law being a basic value since the Union's inception. The President-elect of the European Commission, Ursula von der Leyen, has confirmed a strong commitment to uphold the rule of law, which remains a shared responsibility for all EU institutions and all Member States. However, developments in several EU Member States – for example Czechia, Hungary, Poland, Slovakia and Malta – have raised concerns over how far this commitment is actualy being ...

The European Union is a community of law, with the rule of law being a basic value since the Union's inception. The President-elect of the European Commission, Ursula von der Leyen, has confirmed a strong commitment to uphold the rule of law, which remains a shared responsibility for all EU institutions and all Member States. However, developments in several EU Member States – for example Czechia, Hungary, Poland, Slovakia and Malta – have raised concerns over how far this commitment is actualy being observed in practice, sparking a lively debate across the EU and action in the EU institutions themselves. This note offers links to recent commentaries, studies and reports from major international think tanks on the rule of law debate.

Planowane wydarzenia

20-01-2021
EPRS online policy roundtable with the World Bank: Where next for the global economy
Inne wydarzenie -
EPRS
25-01-2021
Public Hearing on "Gender aspects of precarious work"
Przesłuchanie -
FEMM
27-01-2021
Public hearing on AI and Green Deal
Przesłuchanie -
AIDA

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