(2014), “Hazardous Times for Monetary Policy: What Do Twenty-Three Million Bank Loans Say About the Effects of Monetary Policy on Credit Risk-Taking?”, Econometrica, Vol. 82(2), March, pp. 463–505. With a more resilient banking sector in the euro area, we have seen this more positive picture develop. Credit risk exposures in banks’ loan books have declined as monetary policy has eased.
I think some useful ideas will emerge here that we can discuss together. We see the Ombudsman (together with the managing of customer complaints) as a very important part of consumer protection, flanked by supervision (in both its regulatory aspects and its interventions), and by financial education: dialogue between these three different functions is fundamental.