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Public finances Draft 2019 budget and financial plan to 2022: forward-looking, fair and responsible
On 6 July 2018, Germany’s federal cabinet adopted the government draft for the 2019 federal budget and the financial plan to 2022.
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ezb-finanzstabilitaetsbericht ECB published November 2021 Financial Stability Review
The semi-annual Financial Stability Review finds that financial stability risks from the pandemic have lessened in the near term, but vulnerabilities are building up ahead.
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Public finances Emerging from the crisis with sound fiscal policy and optimism
The federal cabinet today adopted the government draft for the 2022 federal budget and the fiscal plan to 2025. The German government is continuing to pursue a decisive fiscal policy that includes large-scale assistance measures and record investment levels. In addition, the numbers show that the federal government is in good fiscal shape. Germany’s debt ratio is far lower than projected and …
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esrb-bericht ESRB – second report on low interest rate environment
The European Systemic Risk Board (ESRB) has published a second report on macroprudential policy issues arising from the low interest rate environment in the financial system of the European Union (EU). Looking beyond recent cyclical developments, the coronavirus (COVID-19) shock may have increased the likelihood and persistence of a “low for long” scenario.
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esrb-empfehlung ESRB published recommendations on medium-term residential real estate vulnerabilities
ESRB has published five warnings and two recommendations on medium-term residential real estate vulnerabilities and the assessment of compliance with recommendations issued in 2019.
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esrb-bericht ESRB publishes two reports on macroprudential stance
The assessment of the macroprudential stance may support policymakers in deciding how to address systemic risks, aid communication of macroprudential policy decisions and increase accountability.
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esrb-empfehlung ESRB Recommendation for the establishment of a EU-SCICF
The European Systemic Risk Board (ESRB) has published a Recommendation for the establishment of a pan-European systemic cyber incident coordination framework (EU-SCICF).
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esrb-empfehlung ESRB Recommendation to the Financial Stability Committee
The ESRB addresses its recommendations to national macroprudential supervisory authorities. In Germany, this is the function of the Financial Stability Committee. Accordingly, the Financial Stability Committee will participate in identifying, and sharing information related to, recommended fiscal policy actions in connection with Covid-19.
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esrb-empfehlung ESRB recommends increasing the resilience of money market funds
ESRB has published a policy recommendation aimed at increasing the resilience of money market funds based on the lessons learned on the financial market turmoil of 2020. An additional report provides an impact assessment.
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FAQs
What does macroprudential supervision mean? What is the significance of a Financial Stability Committee recommendation? What is the Bundesbank’s role in the Financial Stability Committee? What are warnings and recommendations?