Banking Risk and Regulation的动态

?? Have we got it wrong on windfall taxes? Perhaps we are looking in the wrong place. Instead, it’s time for central banks to stop paying banks billions of taxpayers’ money in interest, writes Maria Demertzis ?? In a CEPR - Centre for Economic Policy Research?paper, Paul De Grauwe and Yuemei Ji estimated that, based on the May level of interest rates, the ECB would pay?€135bn in annual interest to euro area banks, equivalent to 1.01% of the euro area’s GDP. ?? ?? In the case of the US, the Federal Reserve would pay $162bn or the equivalent of 0.64% of US GDP, and the Bank of England would pay ￡39bn or the equivalent of 1.75% of the UK GDP.? ??♀? Maria writes: "It is not unreasonable to ask whether consumers (through their central banks) should be making such sizeable transfers to commercial banks, because of balance sheet policies that central banks have had to pursue in the past 10 years? ?? "More so when the consumer themselves faces a severe cost of living crisis." #costoflivingcrisis #ecb #centralbanks cc School of Transnational Governance European University Institute? https://lnkd.in/e3UEy5AW