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Macroprudential Policy beyond Banking

Podrobná analýza 03-05-2023

The argument for applying borrower-based measures (BBMs) to non-banks to make these institutions more resilient is weaker than in the case of banks, as non-bank failures create fewer negative externalities. At the same time, the implications of extending the scope of BBMs to non-banks for income and wealth distributions may be more negative, as this would leave younger and poorer households with no options to obtain housing finance. Therefore, it is not obvious that countries that apply BBMs to banks ...

Covering almost one third of the EU's area, but only 17.9 % of the EU population, the Baltic Sea region encompasses a group of countries characterised by a high degree of interdependence, with a tradition of cooperation dating back to the late Middle Ages and the Hanseatic League. This shared identity was cemented further through the EU accession of the Baltic States and Poland in 2004, increasing to eight the number of EU Member States in the Baltic region (Denmark, Estonia, Finland, Germany, Latvia ...

Launched in 2014, the EU strategy for the Adriatic and Ionian region (EUSAIR) is the third macro-regional strategy (MRS) to have been set after those for the Baltic Sea region and the Danube region. With the recent inclusion of North Macedonia and San Marino, the strategy now covers four EU Member States and six third countries, mostly from the Western Balkans, one of its goals being to facilitate the EU enlargement process of countries from this region. The EUSAIR is unique in that it is the only ...

This note is prepared in view of a regular public hearing with the Chair of the European Systemic Risk Board (ESRB), Christine Lagarde, which will take place on 20 June 2022. The aim of the meeting is to discuss recent developments in macroprudential policy field, potential systemic risks looming ahead, notably the impact of the Russia-Ukraine conflict. The briefing provides (i) summaries of the issues highlighted by the ESRB in its letters to the European Parliament; (ii) the risks building-up ...

Spanning a prominent geopolitical area between Germany's Black Forest and the Black Sea, the EU strategy for the Danube region (EUSDR) is the largest and most diverse among the four EU macro-regional strategies (MRS). It started its existence in 2010, was overhauled in 2020, and covers 14 EU and non-EU countries. It is structured around four pillars: connecting the region; protecting the environment; building prosperity; and strengthening the region. Similar to the other macro-regional strategies ...

A rich tapestry of nations and cultures, the Mediterranean has always been a strategic area for the European Union (EU) and there is much mutual benefit to be garnered from closer cooperation with the countries of the southern and eastern Mediterranean. As a geographical region whose countries face many shared challenges given their joint proximity to a common sea, the idea of establishing a macro-regional strategy for the Mediterranean region has been present in EU discourse from the very beginning ...

EU strategy for the Alpine region

Briefing 17-12-2019

Launched in January 2016, the European Union strategy for the Alpine Region (EUSALP) is the fourth and most recent macro-regional strategy to be set up by the European Union. One of the biggest challenges facing the seven countries and 48 regions involved in the EUSALP is that of securing sustainable development in the macro-region, especially in its resource-rich, but highly vulnerable core mountain area. The Alps are home to a vast array of animal and plant species and constitute a major water ...

Encompassing regions from European Union (EU) Member States and third countries confronted with a common set of challenges, macro-regions are defined on the basis of geographical features. Whether inspired by a sense of regional identity, a desire to engage in closer cooperation or to pool resources, all macro-regional strategies share the aim of ensuring a coordinated approach to issues best addressed jointly. In spite of a broad consensus on the importance of the macro-regional strategies as a ...

As geographical concentrations of enterprises, which work together in the same field to develop a high level of expertise, services and skills, clusters are hotbeds of innovation and play an important role in the EU economy. Known as transnational clusters when they involve actors from two or more countries in the same geographical area, clusters tend to generate higher employment growth than firms located outside clusters, and are estimated to account for a significant proportion of jobs in the ...

One of the EU’s main instruments for promoting European territorial cooperation, macro-regional strategies bring together regions from Member States and third countries confronted with a common set of challenges. While each macro-regional strategy differs in terms of the countries involved or the scope of its policies, they all share the same common aim: to ensure a coordinated approach to issues best tackled together. Parliament is due to discuss an own-initiative report on the implementation of ...