External shocks tighten credit conditions – ECB bulletin
New index finds funding becomes scarce after unexpected changes in economic activity
The European Central Bank’s new Broad Intermediation Gauge (ECB-Big) index captures tighter funding conditions after domestic economies experience major disruption, analysis by ECB economists finds.
In research published via the ECB’s economic bulletin, authors Anastasia Allayioti, Paola Di Casola and Giacomo Magistretti find credit supply plummets in the wake of external shocks. The ECB-Big index reveals contraction periods following the global financial crisis of 2007-09, the aftermath of the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: www.centralbanking.com/subscriptions
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Economics
Economics Benchmarks 2026 – model banks analysis
Additional data breakdowns shed light on staffing, model types and AI usage
Brazil unveils 2027 budget to rein in spending and borrowing
Debt dynamics to remain on upward trend over coming years, says economist
Economics Benchmarks 2026 report – executive summary
Key findings from the benchmark on AI use, model design and data-driven research
Economics Benchmarks 2026 report – advanced analytics
AI usage is increasing, but banks still vary in their approaches
How credible is Venezuela’s debt restructuring?
Aggressive timetable and lack of IMF involvement raise feasibility concerns for restructuring up to $240 billion of debt
Brazil’s central bank governor warns of credit growth risks
BCB says household delinquencies remain at historically high levels
Americans worried about their country’s solvency – NBER study
Bond investors, voters and economics graduates think risk of a US debt crisis is high, paper says
Nepal has greater stability, but now it needs growth – IMF
Fund’s mission chief says central bank reforms are among measures laying path for future prosperity