Budnik, Katarzyna Couaillier, Cyril Duijm, Patty Faykiss, Peter Gajewski, Krzysztof Holtorf, Claudia Izquierdo Rios, Laura Koban, Anne Kok, Christoffer Laliotis, Dimitrios Lamas, Matías Lialiouti, Georgia Loehe, Sebastian Marques, Aurea Matos, Joana Meller, Barbara Melo, Ana Sofia Moldovan, Iulia Morão, Alexandra Pereira, Ana Pessarossi, Pierre Roling, Christoph Rutkauskas, Virgilijus Schmitz, Stefan Silbermann, Leonid Szakacs, Janos Tissari, Päivi Ubl, Eva Di Virgilio, Domenica Vlachogiannakis, Nikolaos Bonner, Clemens Wedow, Michael
This study provides a conceptual and monitoring framework for systemic liquidity, as well as a legal assessment of the possible use of macroprudential liquidity tools in the European Union. It complements previous work on liquidity and focuses on the development of liquidity risk at the system-wide level. A dashboard with a total of 20 indicators is developed for the financial system, including banks and non-banks, to assess the build-up of systemic liquidity risk over time. In addition to examining liquidity risks, this study sheds light on the legal basis for additional macroprudential liquidity tools under existing regulation (Article 458 of the Capital Requirements Regulation (CRR), Articles 105 and 103 of the Capital Requirements Directive (CRD IV) and national law), which is a key condition for the implementation of macroprudential liquidity tools.