In this analysis we review financial systems on three different levels. First, we look at overall financial stress and stress in the sovereign bond market. Then, we look closer at the banking sectors examining different risk factors. Finally, we analyse supply and demand of credit to the nonfinancial private sector. We do so for three Eurozone countries – France, Germany and Spain – which have different banking systems, but share the same recent monetary stimulus (Quantitative Easing, QE).
Download policy brief: ‘Banking risk in France, Germany and Spain‘