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Finland benefits from Eurosystem’s securities purchases
(30.06.2015)
Bank of Finland. Bulletin 3/2015
Bank of Finland. Bulletin 3/2015
The effects of the Eurosystem’s expanded asset purchase programme (EAPP) are already visible on the financial markets. The achievements of the programme are, however, only intermediate goals from a central bank perspective, ...
Monetary policy to be normalised gradually and in a predictable manner
(18.10.2018)
Bank of Finland. Bulletin 4/2018
Bank of Finland. Bulletin 4/2018
The Governing Council of the ECB anticipates that net asset purchases under the asset purchase programme (APP) will be phased out by the end of 2018. The decision can be seen as a first step towards normalisation of monetary ...
TARGET2 balances – a truth more boring than fiction?
(18.10.2018)
Bank of Finland. Bulletin 4/2018
Bank of Finland. Bulletin 4/2018
As a result of the euro area sovereign debt crisis, the Eurosystem's internal receivables and liabilities have risen from the depths of technical details into headlines. What are these much discussed TARGET2 balances, and ...
Implementation of monetary policy purchase programmes at the Bank of Finland
(11.09.2020)
Bank of Finland. Bulletin 4/2020
Bank of Finland. Bulletin 4/2020
The expanded asset purchase programme was introduced in 2015, when Eurosystem interest rates began to reach their lowest threshold. Bond purchase programmes have become one of the most significant approaches to monetary ...
No credit without collateral
(11.09.2020)
Bank of Finland. Bulletin 4/2020
Bank of Finland. Bulletin 4/2020
In order for banks to obtain credit from the central bank and payments to be transmitted smoothly, adequate collateral is required. Collateral protects the central bank against the credit risk associated with the counterparty. ...