Financial Intermediation

The Financial Intermediation department focuses on the role of intermediaries in the capital market, in particular banks and insurance companies, but also little or non-regulated market participants ("shadow banks") and their "off-balance-sheet" activities. Research focuses on the supervision and regulation of banks (e.g., liquidity regulation), the role of banks in the transmission of monetary policy into the real economy (e.g., the willingness to take risks at low-interest rates), the importance of safe investments in banking, or the consequences of digitalization and the green transformation for the business models of financial intermediaries.