Asset purchases stopped mutual fund crisis, ECB paper finds
The European Central Bank’s large-scale asset purchases helped prevent a 2020 crisis in Europe’s mutual fund sector, according to research by Johannes Breckenfelder and Marie Hoerova.
Do non-banks need access to the lender of last resort? Evidence from fund runs, published by the ECB, uses data on banks and mutual funds. In March 2020, the onset of the Covid-19 pandemic led to large-scale runs on mutual funds, which could have led to considerable disruptions in financial markets.
The authors
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