Dieses Gutachten wurde vor dem Hintergrund der

  • Finanzmarktkrise 2007bis 2010 und
  • dem Entwurf der Europäischen Kommission für eine einheitliche Einlagensicherung in der EU

verfasst. Gemäß dem Gutachtenauftrag – Auftraggeber ist der Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) – soll insbesondere die institutionelle Ausgestaltung und Nachhaltigkeit der Einlagensicherung der Volks- und Raiffeisenbanken – die sich aus der Institutssicherung der Mitgliedsbanken ergibt – gewürdigt werden.


Bedeutung und Zukunftsfähigkeit von Institutssicherungssystemen
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The Case for Reviving Securitization
IW-Kurzbericht, 26. September 2016

Markus Demary The Case for Reviving SecuritizationArrow

European financial markets are still fragmented. A lack of cross-border lending and cross-border asset holdings hinders the financing of the economy, the conduct of monetary policy as well as cross-border risk-sharing against asymmetric shocks. Reviving the market for securitizations is vital for achieving these goals. A true European Capital Markets Union is needed, but there are still a lot of obstacles to overcome. mehr

Why the ECB is not to blame for low interest rates
Gastbeitrag, 15. September 2016

Markus Demary auf EUROPP Why the ECB is not to blame for low interest ratesArrow

In the latest set of EU stress tests, several German lenders performed poorly. As Markus Demary writes in EUROPP (Blog of LSE about European Politics and Policy), some of this performance has been blamed on low interest rates squeezing the profitability of lenders. He argues that while the ECB has frequently been blamed for this situation, the reality is more complex and instead reflects long-term trends which can only be addressed by lasting structural reforms. mehr

IW-Kurzbericht, 2. August 2016

Markus Demary Italy's Banking Crisis – Creditor Bail-in Is No PanaceaArrow

Italy’s banks are struggling under high amounts of non-performing loans on their balance sheets and the Italian government is fighting with the European Commission over putting 50 billion Euro of problem loans into a bad bank, which needs funding of 10 billion Euro with public money. Calculations of the Cologne Institute for Economic Research reveal that banks need to be recapitalised with additional 21.7 billion Euro under this plan. mehr