“Recession Risk and the Excess Bond Premium,” FEDS Notes. Washington: Board of Governors of the Federal Reserve System, April 8, https://www.federalreserve.gov/econresdata/notes/feds-notes/2016/recession-riskand-the-excess-bond-premium-20160408.html. International Monetary Fund (2018). World Economic Outlook Update: Brighter Prospects, Optimistic Markets, Challenges Ahead. Washington: IMF, January, https://www.imf.org/en/Publications/WEO/Issues/2018/01/11/world-economicoutlook-update-january-2018. Johansson, Peter, and Andrew Meldrum (2018). “Predicting Recession Probabilities Using the Slope of the Yield Curve,” FEDS Notes.
With regard to the Basel Accord as such, aspects of competition may arise for both the banking sector and non-banks, especially small and medium-sized companies. It is important that the Basel rules do not cause competitive disadvantages for countries or specific sectors of the economy. For this purpose, common European positions should be formulated wherever possible.