Conference proceedings 2014 : 25-27 May 2014, Sintra, Portugal
This volume contains the contributions for the 2014 ECB Forum on Central Banking. This is the first in a series of annual events that will bring together senior central bankers and leading academics from across the world to discuss topics of major relevance to central banks. The year 2014 is an opportune time to initiate such an event. The environment in which central banks find themselves has changed radically in the aftermath of the financial crisis. The architecture and frameworks of financial regulation and bank supervision are undergoing a major transformation. This is especially true in... the euro area, as the ECB takes on its new responsibilities in the fields of banking supervision and macroprudential policy. In addition, various legacies of the crisis, not least the overhang of public and private debt, will continue to have an impact on the behaviour of economic agents in the years to come. Hence, it is entirely fitting that our first event is focused on two topics: the interaction between monetary policy and financial regulation and the implications of balance sheet adjustment for monetary policy.