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This study has been drawn up by the European Added Value Unit within the European Parliament's Directorate-General for Parliamentary Research Services. It is part of a research project to better define the concepts of the cost of non-Europe and of European added value. The study recounts the development of these concepts and specifically how they have been used to support the European Parliament's work in setting the legislative agenda. It also presents their theoretical underpinnings and the main ...

Following the backsliding in democratic standards that occurred after the unsuccessful coup of 2016 and the Council of the European Union's June 2018 decision ruling out the opening of any new EU accession negotiation chapters, accession talks with Türkiye are frozen. The disputes in the eastern Mediterranean that involved some Member States, as well as the military engagement of Türkiye in Syria, provided additional tensions in relations with the EU in 2019 and 2020. In February 2020, the Commission ...

Macroprudential Policy beyond Banking

Grinnanailís 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 ...

This position paper argues that the macroprudential policy framework should include the non-bank financial sector. As this sector is much more diverse than the banking sector, applying macroprudential instruments to non-banks is not the way forward. Instead, appropriate stress-testing that takes the interconnected nature of the sector into account in combination with proper microprudential regulation is more desirable. This approach is illustrated for the case of money market funds in the EU.

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 March 2023. The briefing (i) provides a European per-spective on recent US bank failures; (ii) provides summary of the risk outlook and the picking up of corporate insolvencies; (iii) describes the risks building up in housing markets; (iv) summarises the ongoing continuing work on the macroprudential policy toolkit for cyber resilience ...

The European single market celebrates its 30th anniversary this year. On 1 January 1993, the then 12 Member States abolished border controls between each other, launching free movement of people, goods, services and capital. This infographic celebrates the single market's anniversary, looking at the history of the European Union (EU) in terms of macro-economic indicators as the number of Member States has grown. It shows exports of goods, services and investments; movement of people within the EU ...

This table provides a regular update on Member States invited for an Economic Dialogue in the competent Committee of the European Parliament and an overview of the respective legal base.

This paper was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 26 September 2022.

After the financial crisis, the supervisory framework of the euro area banking sector has been seriously scaled up. This briefing argues, however, that there still is a watchdog role for journalists, as banking supervisors cannot single out banks that take excessive risks or fall short of other obligations. Based on a survey, we find that more than half of the significant banks in the euro area organise press conferences, which could provide a suitable forum for dedicated journalist to ask challenging ...

This document provides regularly updated information on EU Member States which have received financial assistance from the ESM, the EFSF, the EFSM, the EU balance of payments assistance facility, other Member States and/or the IMF. Since August 2018, all financial assistance programmes to EU Member States have been concluded; therefore, the document focuses on the implementation of the enhanced surveillance framework for Greece and post-programme reviews for Ireland, Portugal, Cyprus, Spain and Romania ...