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Interaction between monetary policy and bank regulation: lessons for the ECB

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  • Marek D¹browski

Abstract

The European Central Bank (ECB) recently became engaged in macro-prudential policies and the micro-prudential supervision of the largest Euro area banks. These new tasks should help complete financial integration, and make the Euro area more resilient to financial instability risks. However, the multiplicity of mandates and instruments involves a risk of their inconsistency which could compromise the ECB’s core price-stability mandate as well as its independence. The experience of central banks during the recent global financial crisis confirms that such risks are not purely hypothetical.

Suggested Citation

  • Marek D¹browski, 2016. "Interaction between monetary policy and bank regulation: lessons for the ECB," CASE Network Studies and Analyses 0480, CASE-Center for Social and Economic Research.
    • Handle: RePEc:sec:cnstan:0480
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    File URL: https://case-research.eu/sites/default/files/publications/S%26A%20480.pdf
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    Citations

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    Cited by:

    1. Richard Varghese, 2018. "The Bank Lending Channel A Time-Varying Approach," IHEID Working Papers 10-2018, Economics Section, The Graduate Institute of International Studies.
    2. Giuseppe Mastromatteo & Giuseppe Mastromatteo, 2016. "Minsky at Basel: A Global Cap to Build an Effective Postcrisis Banking Supervision Framework," Economics Working Paper Archive wp_875, Levy Economics Institute.

    More about this item

    Keywords

    monetary policy; macro-prudential policy; banking regulation; banking supervision; money multiplier; money velocity; financial stability; European Central Bank;
    All these keywords.

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G01 - Financial Economics - - General - - - Financial Crises
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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