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The ECB's targeted longer-term refinancing operations have increased bank lending to the private sector
(04.04.2019)
Bank of Finland. Bulletin 1/2019
Bank of Finland. Bulletin 1/2019
In recent years, the ECB has supported bank lending in the euro area by offering long-term financing to banks. The aim of the longer-term refinancing operations (LTROs), the most recent one in particular, was to encourage ...
Slightly negative central bank interest rates ease financial conditions
(12.11.2019)
Bank of Finland. Bulletin 4/2019
Bank of Finland. Bulletin 4/2019
Negative interest rates have been an integral part of the ECB's overall monetary accommodation for just over five years now. The ECB lowering its deposit facility below zero has especially reduced the cost of market-based ...
Only very subdued growth in sight
(12.11.2019)
Bank of Finland. Bulletin 4/2019
Bank of Finland. Bulletin 4/2019
The global economic cycle entered a phase of slower growth in early 2018. At the same time, the United States began to step up its protectionist measures. By September 2019, it had already imposed substantial additional ...
The Eurosystem’s two-tier system for remunerating excess liquidity holdings
(12.11.2019)
Bank of Finland. Bulletin 4/2019
Bank of Finland. Bulletin 4/2019
As a part of the broad monetary policy stimulus package introduced at its September meeting, the Governing Council of the ECB decided to introduce a two-tier system for reserve remuneration. The goal of the system is to ...
Accessible summary: Only very subdued growth in sight
(12.11.2019)
Bank of Finland. Bulletin 4/2019
Bank of Finland. Bulletin 4/2019
Global economic growth has slowed substantially in the current year. One cause has been the trade war between the United States and China, which has escalated further since the spring. Now both countries have already imposed ...
The impact of digitalisation on bank profitability
(29.05.2019)
Bank of Finland. Bulletin 2/2019
Bank of Finland. Bulletin 2/2019
The profitability of the European banking sector is weaker than 10 years ago or compared with banks outside the EU. However, the average figures conceal market differences among EU banks.
Editorial: Rising household debt levels must be addressed in time
(09.05.2019)
Bank of Finland. Bulletin 2/2019
Bank of Finland. Bulletin 2/2019
Finland's financial system is structurally vulnerable due to the country's high levels of household debt and proportionately large banking system. Indebted households respond to declining economic conditions and increased ...