ECB Perception of Non-Banks: A Machine Learning-Based Approach
The authors construct an index tracking the European Central Bank's perception of non-bank financial intermediaries using 2,830 speeches delivered between July 1998 and June 2024.
Central bank · FR · 7 documents
The authors construct an index tracking the European Central Bank's perception of non-bank financial intermediaries using 2,830 speeches delivered between July 1998 and June 2024.
Approximately 8,500 companies and establishments were questioned between 27 September and 5 October.
Eight G20 members achieved the maximum score of 5/5 for direct access for non-bank payment service providers in 2025.
At end-2025, the market value of investments held by French insurers and pension funds stood at EUR 3,109 billion, representing a 5.4% increase from EUR 2,950 billion in 2024.
By 2020, general-equilibrium price changes caused by rising U.S. earnings inequality alone raised the average wealth of the top 0.1% by 25%.
A speech by the Chair or Vice Chair draws about 65 distinct Reuters articles, whereas a speech by another Board governor draws about 10.
The Banque de France baseline scenario projects the French economy to grow by 2.3% in 2022, down from 3.6% at the start of the year.