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The Annual Meetings of the World Bank Group (WBG) and International Monetary Fund (IMF) convene finance ministers and central bank governors to participate in the highest-level decision-making bodies of the two institutions, as well as in various committees and groups that drive the agenda on issues related to the international monetary system and development policy. The 2024 Annual Meetings took place in Washington, D.C. from 21 to 26 October 2024. This paper summarises the main developments and ...

This study examines key rulings on the supervision and resolution of credit institutions in the EU and their impact on the Banking Union framework. It explores how case law has refined the European Central Bank鈥檚 practices, shareholders' and boards' rights, and the interaction between ECB and Single Resolution Board powers during 鈥榝ailing or likely to fail鈥� assessments. While highlighting how litigation has clarified processes, rights, and the criteria for resolution, the study鈥檚 findings underscore ...

After a series of unprecedented interest rate hikes on both sides of the Atlantic, inflation in the euro area and the United States is cooling down from a 40-year high. However, uncertainty about the inflation and growth outlook remains high, as the European Central Bank and the Federal Reserve are considering their next moves. Five papers were prepared by the ECON Committee鈥檚 Monetary Expert Panel, making a comparative assessment of inflation dynamics and monetary policy stances in the two monetary ...

Under the stress test of the inflation process, the two central banks' stances across the Atlantic share similarities but show also significant differences. Similarities and differences are reflected also in inflation dynamics in the US and the euro area. Differences are mainly due to the mix of factors that originated the take-off of inflation, some structural features of the economies, the institutional contexts and associated fiscal stances. This document was provided by the Economic Governance ...

As monetary policy continues to tighten and excess liquidity is gradually drained from the banking system, the European Central Bank (ECB) is confronted with a decision on which liquidity provision framework the Eurosystem should adopt going forward. Three papers were prepared by the ECON Committee鈥檚 Monetary Expert Panel, discussing the relative advantages and disadvantages of the ample reserves/floor system versus the scarce reserves/corridor system. This document was provided by the Economic ...

This note has been prepared for a regular public hearing with the Chair of the Supervisory Board of the European Central Bank (ECB), Andrea Enria, which will take place on 28 June 2023. The briefing addresses: (i) the ECB鈥檚 recent Financial Stability Review, (ii) the results of four asset quality reviews, (iii) the ECB鈥檚 progress report on the disclosure of climate and environmental risks, (iv) three critical reviews of the SSM鈥檚 work (vii) the ECB鈥檚 views on the proposed changes to the Crisis ...

Even if QT is as inefficient as QE at affecting inflation, now is the time to cut the size of central banks鈥� balance sheets. The stabilising effects of large balance sheets are eroded as the financial markets adapt to excess reserves. If QT proves to be financially destabilising, it can be temporarily interrupted, possibly even reversed. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the ...

合法博彩网站 will discuss the European Central Bank (ECB) annual report for 2021 during its February plenary session, in the presence of the Banks' President, Christine Lagarde. The ECB's annual report describes the tasks and activities of the European System of Central Banks (ESCB), reports on its monetary policy and thus provides an important pillar of the ECB's accountability to the European 合法博彩网站. Following the debate, 合法博彩网站 will vote a resolution on the basis of an own-initiative ...

The inflation challenge today is a global phenomenon and because of the integrated global economy, domestic monetary policy can have spillover effects to other economies. In response to widespread inflation, we are now seeing a synchronised monetary tightening by many central banks. The simultaneous and mutually-compounding tightening of financing conditions might exceed what is necessary to contain inflation and exacerbate the global recession risk. While monetary policy coordination between central ...

Completing the Banking Union has been a long term endeavour, on the back of the less successful negotiations on its third leg - the common deposit guarantee scheme. The current crisis caused by the outbreak of COVID-19 will evidently put the current setup of Banking Union to test, but may also create a new impetus and political will for it鈥檚 completion. This briefing, based on two earlier EGOV briefings (here and here), (1) sets out the main milestones of such process so far, (2) outlines where work ...