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Is monetary tightening a threat to financial stability?

Author

Listed:
  • Christophe Blot

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po, UPN - Université Paris Nanterre)

  • Jérôme Creel

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po, ESCP Europe - Ecole Supérieure de Commerce de Paris)

  • François Geerolf

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po, ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique, CEPR - Center for Economic Policy Research)

Abstract

The rise of policy rates in the euro area has led to a tightening of financing conditions raising concerns for financial stability. The risk of financial crisis should be neither ignored nor overstated. The euro area is not facing conditions for which there would be the highest probability of a crisis. The risk faced by banks depends on the share of adjustable-rate mortgages. At this stage, net interest margin of banks and profitability have slightly improved.

Suggested Citation

  • Christophe Blot & Jérôme Creel & François Geerolf, 2023. "Is monetary tightening a threat to financial stability?," Sciences Po Economics Publications (main) hal-05616198, HAL.
    • Handle: RePEc:hal:spmain:hal-05616198
    DOI: 10.2861/031201
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-05616198v1
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