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Report on financial stability

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  • Working Group of the Economic and Financial Committee

Abstract

At the Informal Ecofin of 11 September 1999 in Turku, ministers and governors agreed to ask the Economic and Financial Committee to check whether the existing regulatory and supervisory structures in the EU can safeguard financial stability, particularly in the context of a rapidly changing financial environment. For this purpose, an ad hoc working group, chaired by the Dutch Deputy Governor Henk Brouwer prepared this report on financial stability under the aegis of the EFC. The organisation of the report is as follows. Section II contains the main conclusions (assessment). The rest of the paper examines the impact of the major financial trends on the stability of the financial system in Europe (section III), as well as the arrangements in the EU aimed at safeguarding financial stability. These arrangements can be divided into two main groups: the first one covers regulations (section IV) and supervisory structures (section V), which are primarily directed at preventing financial instability. The second group of arrangements consists of various types of crisis management, such as liquidity support to individual institutions or to the market as a whole (section VI).

Suggested Citation

  • Working Group of the Economic and Financial Committee, 2000. "Report on financial stability," European Economy - Economic Papers 2008 - 2015 143, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    • Handle: RePEc:euf:ecopap:0143
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    Cited by:

    1. Andreas A. Papandreou, 2019. "Stranded assets and the financial system," Working Papers 272, Bank of Greece.
    2. Leroi RAPUTSOANE, 2015. "The lean versus clean debate and monetary policy in South Africa," Journal of Economics and Political Economy, KSP Journals, vol. 2(4), pages 467-480, December.
    3. Titelman Kardonsky, Daniel, 2002. "Multilateral banking and development financing in a context of financial volatility," Financiamiento para el Desarrollo 5100, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    4. Michel Aglietta & Laurence Scialom & Thierry Sessin, 2000. "Pour une politique prudentielle européenne," Revue d'Économie Financière, Programme National Persée, vol. 60(5), pages 59-84.
    5. Sergio Lagoa & Emanuel Leao & Ricardo Paes Mamede & Ricardo Barradas, 2014. "Financialisation and the Financial and Economic Crises: The Case of Portugal," FESSUD studies fstudy24, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    6. Jorg Bibow, 2015. "The Euro's Savior? Assessing the ECB's Crisis Management Performance and Potential for Crisis Resolution," Economics Working Paper Archive wp_845, Levy Economics Institute.
    7. Martin Hellwig, 2007. "Switzerland and Euroland: European Monetary Union, Monetary Stability and Financial Stability," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2007_9, Max Planck Institute for Research on Collective Goods.
    8. Kaushik Jayaram & Blaise Gadanecz, 2016. "Macroprudential policy frameworks, instruments and indicators: a review," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Combining micro and macro data for financial stability analysis, volume 41, Bank for International Settlements.
    9. Stéphanie Stolz, 2002. "Banking Supervision in Integrated Financial Markets: Implications for the EU," CESifo Working Paper Series 812, CESifo.
    10. Huizinga, H.P., 2003. "Comment on 'European banking, past, present, and future'," Other publications TiSEM c8499086-f8f7-4474-ab06-7, Tilburg University, School of Economics and Management.
    11. Shin, Hyun Song, 2008. "Risk and liquidity in a system context," Journal of Financial Intermediation, Elsevier, vol. 17(3), pages 315-329, July.
    12. Willy Chetwin, 2012. "Business cycle review, 1998-2011," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 75, pages 14-27, March.
    13. Mr. Andrea Pescatori & Mr. Daniel Leigh & Mr. Jaime Guajardo & Mr. Pete Devries, 2011. "A New Action-Based Dataset of Fiscal Consolidation," IMF Working Papers 2011/128, International Monetary Fund.
    14. Annemarie van der Zwet, 2003. "The Blurring of Distinctions between Financial Sectors: Fact or Fiction?," DNB Occasional Studies 102, Netherlands Central Bank, Research Department.
    15. Ramon Moreno, 2011. "Policymaking from a "macroprudential" perspective in emerging market economies," BIS Working Papers 336, Bank for International Settlements.
    16. Henk Brouwer & Ralph de Haas & Bas Kiviet, 2002. "Banking sector development and financial stability in the run up to EU accession," Macroeconomics 0209003, University Library of Munich, Germany.
    17. Picciotto, Sol & Gallardo, Agustina & Kadet, Jeffrey & Henn, Markus & Villanueva, Maria, 2017. "The G20 and the “Base Erosion and Profit Shifting (BEPS) Project”," IDOS Discussion Papers 18/2017, German Institute of Development and Sustainability (IDOS).
    18. International Monetary Fund, 2007. "Austria: Selected Issues," IMF Staff Country Reports 2007/143, International Monetary Fund.
    19. Blaise Gadanecz & Kaushik Jayaram, 2009. "Measures of financial stability - a review," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Proceedings of the IFC Conference on "Measuring financial innovation and its impact", Basel, 26-27 August 2008, volume 31, pages 365-380, Bank for International Settlements.
    20. Ocampo, José Antonio, 2001. "International asymmetries and the design of the International Financial System," Series Históricas 7776, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    21. Kollar, Miroslav & Schmieder, Christian, 2019. "Macro-based asset allocation: An empirical analysis," EIB Working Papers 2019/11, European Investment Bank (EIB).
    22. Michel Aglietta & Laurence Scialom & Thierry Sessin, 2000. "The Development of a European Prudential System," Revue d'Économie Financière, Programme National Persée, vol. 60(5), pages 59-83.
    23. Seppo Honkapohja & Frank Westermann, 2009. "Financial Architecture," Palgrave Macmillan Books, in: Seppo Honkapohja & Frank Westermann (ed.), Designing the European Model, chapter 11, pages 366-398, Palgrave Macmillan.
    24. Christoph Walkner & Jean-Pierre Raes, 2005. "Integration and consolidation in EU banking - an unfinished business," European Economy - Economic Papers 2008 - 2015 226, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    25. Jean-Paul Abraham & Peter van Dijcke, 2002. "European Financial Cross-Border Consolidation: At the crossroads in Europe? By exception, evolution or revolution?," SUERF Studies, SUERF - The European Money and Finance Forum, number 22 edited by Morten Balling, May.

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