Remittances continue to be an importance source of development financing, reaching $559 billion to low- and middle-income countries in 2019, but the high cost of sending remittances is a deterrent factor. This column provides fresh evidence on both cost- and risk-based constraints and market structures that are barriers to lower remittance fees. In particular, access to
The coronavirus health crisis also had a strong impact on financial systems. This column discusses its effects on euro area financial integration and financial structure. It illustrates how decisive monetary, fiscal and prudential policy responses first contained and then reversed the initial sharp fragmentation in asset prices across member countries. Overall cross-border