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While neither the legal nor institutional framework in Germany were adequate for dealing with stressed banks in the recent financial crisis, the newly established Federal Agency for Financial Market Stabilisation fills that gap. Initially focusing on rescuing banks, that agency now focuses on restructuring them.
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The report assess the potential impact of a crisis in the banking sector on public finances in four selected EU Member States and finds that in two of them governments are likely to have to cover losses generated in the banking system.
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The financial crisis exposed serious flaws in the European framework for cross-border banking, including deposit insurance. Iceland’s experience shows that sizeable cross-border banking operations in small countries with their own currency come with very significant risks.
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The macro-prudential authority is being adopted by monetary policy authorities as a means to limit systemic financial risks in the light of weaknesses revealed by the crisis. This article outlines the powers, scope and accountability that should characterise the macro-prudential authority.
These reports describe the main features of the financial, and insurance and private pensions markets of countries that have recently joined the OECD.
These reports describe the main features of the financial markets of countries that have recently joined the OECD.
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This speech discusses policy responses to financial crises, with a particular focus on the US experience with government intervention during the 2008-09 financial crisis. It also reflects on the possibilities for conducting crisis management without financial guarantees.
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This article underlines the need for long-term investors to finance growth and the need to create instruments better suited to their needs, particularly in the context of the recent regulatory changes.
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Although securitisation issuance has slumped in recent years with both the US and European markets having become increasingly dependent on central bank and government support, the securisation market is expected to recover over a long term horizon.
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This article explains the European Investment Bank Group’s role in creating a better environment for financing business, innovation and green growth and provides examples of ways that the financing of innovation can be improved against the backdrop of a flexible, business-oriented EU framework.<