The euro-area denominated payment systems and the conduct of monetary policy: Some considerations ahead of Brexit
Indgående analyse
15-02-2018
The framework for euro-denominated payment systems has undergone significant changes in recent years leading to a concentration of payments performed by Central Counterparty Clearing Houses. As it stands, a large part of euro-denominated transactions, derivatives in particular, are cleared through CCPs located in the UK; which poses challenges to the current supervisory framework because of the UK leaving the EU. Against this background, this note discusses the extent to which the current set-up bears risks, including for the conduct of the ECB monetary policy.
Indgående analyse
Ekstern forfatter
Corrado MACCHIARELLI, Mara MONTI, London School of Economics
Om dette dokument
Type af publikation
Nøgleord
- betalingssystem
- clearingaftale
- Den Europæiske Centralbank
- DEN EUROPÆISKE UNION
- Det Forenede Kongerige
- EU-institutioner og EU-forvaltning
- Europa
- europæisk integration
- FINANSER
- finansielt tilsyn
- fri kapitalbevægelighed
- GEOGRAFI
- institutionernes funktion
- INTERNATIONALE RELATIONER
- monetær politik
- monetære forhold
- POLITIK
- politisk geografi
- reguleringspolitik
- samarbejdspolitik
- tredjeland
- udtræden af EU
- udøvende magt og offentlig forvaltning
- valutaforhold
- økonomisk geografi