menu
close

Venue

webex

Format

online

Date

Tuesday, December 12, 2023

In cooperation with

De Grauwe and Ji (2023c) suggest expanding the minimum-reserve requirements for banks in the euro area – e.g., by a factor of 10, thereby increasing it to 1.65 trillion EUR – and stopping to remunerate them. Only reserves held in excess of the minimum-reserve requirement would be remunerated at the interest rate on the deposit facility (currently 4%). Accordingly, the “subsidies” to commercial banks by the Eurosystem through reserve remuneration would be reduced. In this seminar, the authors and a panel of outstanding experts from central banks, academia and the financial sector will discusses the aims, the transmission channels, the potential benefits and undesirable side effects of such a measure. Attendants will have the possibility to ask questions and contribute arguments. 

Program

Time
Tuesday, 12 December 2023
14:00
Welcome and Introduction
Paul de Grauwe, Professor, John Paulson Chair in European Political Economy, European Institute I LSE
Yuemei Ji, Professor of Economics, University College London presentation

Welcome by Ernest Gnan, SUERF

14:20
Discussion and Q&A with the audience
Chair: Stefan Schmitz, Head, Financial Stability and Macroprudential Supervision Division, Oesterreichische Nationalbank
Claudia Kwapil, Principal Economist, Oesterreichische Nationalbank presentation
Robert McCauley, Non-Resident Senior Fellow, Boston University I Faculty of History, University of Oxford
Karol Paludkiewicz, Senior Research Economist, Deputy Head I Financial Markets Research Section, Deutsche Bundesbank presentation
Nicolas Charnay, Managing Director I Sector Lead, S&P Global Ratings Europe presentation
15:30
End