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Excess foreign exchange reserves and overcapitalisation in the Eurosystem

Author

Listed:
  • Daniel Gros
  • Franziska Schobert

Abstract

Die Bilanz des Europäischen Zentralbanksystems (EZBS) ist um 50% länger als notwendig, und da die europäischen Notenbanken ihre Bilanzen so undurchsichtig wie möglich gestalten, ist es schwer, genau festzustellen, woher die überflüssigen Positionen stammen. Daniel Gros, stellvertretender Direktor des Centre for European Policy Studies, CEPS, Brüssel, und Franziska Schobert, Universität Frankfurt, haben ausgerechnet, daß die Zentralbanken der EWU-Länder ihre Bilanzen um etwa 200 Mrd. Euro kürzen könnten. Darüber hinaus empfehlen sie, daß die Bilanzen in Zukunft offen gelegt werden, um der Öffentlichkeit über die finanzielle Lage der National- und Zentralbanken Einblick zu gewähren.

Suggested Citation

  • Daniel Gros & Franziska Schobert, 1999. "Excess foreign exchange reserves and overcapitalisation in the Eurosystem," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 52(19), pages 25-35, October.
    • Handle: RePEc:ces:ifosdt:v:52:y:1999:i:19:p:25-35
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    Cited by:

    1. Mr. Peter Stella, 2002. "Central Bank Financial Strength, Transparency, and Policy Credibility," IMF Working Papers 2002/137, International Monetary Fund.
    2. Schobert, Franziska, 2006. "Linking financial soundness and independence of central banks--Central and Eastern Europe, Turkey and CIS countries," Research in International Business and Finance, Elsevier, vol. 20(2), pages 239-255, June.
    3. Franziska Schobert, 2003. "Euroisation. Assessing the Loss of Seigniorage and the Impact on the Interest Premium in Central European Countries," Revue économique, Presses de Sciences-Po, vol. 54(5), pages 913-935.
    4. Karel Bruna & Jaroslava Durc�kov�, 2012. "Banking system liquidity absorption and monetary base backing in the context of exchange rate policy in the Czech Republic, Poland and Hungary," Post-Communist Economies, Taylor & Francis Journals, vol. 24(2), pages 257-275, October.

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