"Effect trade conflict limited, escalation only has losers". This background document provides information on the economic consequences of the current trade dispute between the US and several countries that announced retaliatory packages or filed them already with the WTO.
CPB Background Document, 19 June 2018, Go to publication
Safe assets, assets with low risk and high liquidity, are the cornerstone for modern financial systems. The biggest holders of safe assets are banks, which need to hold safe assets to meet capital and liquidity requirements. Safe assets also provide high-quality, liquid collateral for banks’ repo transactions. Besides, safe assets provide benchmarks for the price formation of other financial assets.
CPB Background Document, 5 June 2018, Go to publication
This CPB Background Document provides details of the simulations of shocks to the capital position of banks in the EMU that underpins the Financial Risk Report 2018 of the CPB. This involves investigating the potential impact of two legacy problems on the capital position of banks. These problems are the high amount of government debt, especially in Italy, and the high level of non-performing loans on banks’ balance sheets.
CPB Background Document, 29 May 2018, Go to publication
The question is no longer if, but when and how unconventional monetary policy will be phased out. The undoing of the unconventional policies will affect European economies, just as their build up stimulated the euro area economy.Read more
The costs to the EU of achieving its climate targets could be substantially reduced if it would use negative emissions technology, such as the gasification of biomass in specially designed power plants that capture CO2 and store it underground (BECCS).Read the press release