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Balance sheet risks in monetary policy implementation
(11.09.2020)
Bank of Finland. Bulletin 4/2020
Bank of Finland. Bulletin 4/2020
Monetary policy implementation in recent years has largely centred on asset purchase programmes and long-term refinancing operations. As a result, the balance sheets of the Eurosystem national central banks have grown ...
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. ...