Carlo Altavilla is Head of Monetary Analysis Division in the Directorate General Monetary Policy of the European Central Bank (ECB). He is a Research Fellow of the Centre for Economic Policy Research (CEPR) in London. He holds a Ph.D. in Economics from the Catholic University of Leuven. In his role, Carlo oversees the assessment of bank liquidity and funding conditions across the euro area, the assessment of credit constraints, the functioning of the bank lending channel, and the calibration of standard and non-standard measures working through the banking system. He also chairs the task-force on banking analysis for monetary policy of the Monetary Policy Committee of the European System of Central Banks. His research interests cover monetary policy and empirical banking, with focus on the effectiveness of non-standard monetary policies, bank lending conditions, credit and sovereign debt dynamics.