EC Report on Policy Actions in the EU in Response to Financial Crisis
EC published a technical report on coping with the international financial crisis at the national level in the European context. The report outlines the policy actions taken by EU countries in the financial sector between 2008 and 2015, in response to the global financial crisis. This document was prepared by the Directorate-General for Financial Stability, Financial Services, and Capital Markets Union, also known as DG FISMA.
The report looks at reforms both at the European and the national levels and shows that decisive action in the aftermath of the crisis paid off: credit growth to the private sector has been expanding, although the situation remains uneven across EU. Confidence has returned to the financial sector, with a lower reliance on central bank borrowing. Banks are stronger due to higher capital buffers. However, work to address certain vulnerabilities, such as the high level of non-performing loans and yield spreads, continues. Financial-sector country surveillance has also increased in importance.
Related Link: Report (PDF)
Keywords: Europe, EU, Banking, Financial Stability, Policy Actions, EC
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