European Central Bank @ecb@respublicae.eu
Unofficial automated mirror. No copyright asserted. ∎ The European Central Bank is the central bank for Europe's single currency, the euro. Its main task is to maintain the euro's purchasing power.
Joined Apr 2022
RT ClevelandFedResearch
The annual Cleveland Fed-ECB Inflation Drivers & Dynamics Conference is on Aug 31 & Sept 1. The conference hosts top researchers in academia, central banks, & other institutions to discuss inflation-related research. Register to join virtually on day 1: http://bit.ly/3OK5BZE
🐦🔗: https://n.respublicae.eu/ClevFedResearch/status/1696567648333754428
🧵 In a fragmented global economy, we need to work together to achieve a more integrated Europe, writes Executive Board member Fabio Panetta.
Central to this strategy is creating a single European market for capital: the capital markets union.
https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog230830~cfe3be0960.en.html
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Re Panetta: Despite progress, the results are not yet satisfactory.
Euro area bond markets remain underdeveloped and fragmented across national borders. Equity is mainly unlisted, reducing the pool of potential investors.
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The economic outlook in the euro area has weakened, says Executive Board member @Isabel_Schnabel. Uncertainty about how fast the slowdown will reduce inflation calls for a data-dependent, robust approach that considers the distribution of inflation risks https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230831~c25314a3fc.en.html
We’re changing the look of euro banknotes. Find out more about the process and let us know your preferences on the shortlisted themes via our survey on #FutureBanknotes https://survey.ecb.europa.eu/euro-banknote-survey?lang=en
Verena Ross, Chair of the European Securities and Markets Authority, explains in our Supervision Newsletter why crypto-assets will always be less safe than traditional financial products. We also take a look at internal model supervision and risk tolerance https://www.bankingsupervision.europa.eu/press/supervisory-newsletters/html/index.en.html
The EU’s crypto regulation framework provides limited consumer protection, says Verena Ross, Chair of the European Securities and Markets Authority. She calls for more transparency on credit default swaps and for streamlined rules on sustainable finance https://www.bankingsupervision.europa.eu/press/publications/newsletter/2023/html/ssm.nl230816.en.html
How have banks passed on our recent interest rate hikes? And what’s the impact on people and firms?
Host @KatieRanger_ and Chief Economist Philip R. Lane unpick these questions in the third and final episode of #TheECBPodcast’s Summer School mini-series https://soundcloud.com/europeancentralbank/the-ecb-podcast-summer-school-3-the-role-of-banks-in-fighting-inflation/s-qNZRBttq7FN?si=00704533814e49e8ae3583375f606dc7&utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing
Nearly all recent internal model investigations were initiated by banks, not the ECB. Overall, the assessments did not lead to a systematic rise in risk-weighted assets. We expect banks to work on evaluating and simplifying their internal model landscapes https://www.bankingsupervision.europa.eu/press/publications/newsletter/2023/html/ssm.nl230816_4.en.html
Last year was positive for securitisations with significant risk transfer: transactions with performing loans reached a new peak, and the volume of securitisations with non-performing loans dropped significantly https://www.bankingsupervision.europa.eu/press/publications/newsletter/2023/html/ssm.nl230816_1.en.html
Banks need to ensure that pandemic-related data are not skewed by support measures or other temporary factors before they incorporate the data into their IRB models. Our updated Guide to internal models will clarify topics such as the definition of default https://www.bankingsupervision.europa.eu/press/publications/newsletter/2023/html/ssm.nl230816_2.en.html
Our media seminar takes place on 13-14 September. If you work for the media and wish to attend, send an email to media@ecb.europa.eu to apply.
It is a chance for you to discuss monetary policy and banking supervision topics off the record, and to meet policymakers at the ECB.
Our risk tolerance framework translates our priorities into day-to-day supervision and lets supervisors focus on essential tasks. This may result in a lighter reporting burden and fewer assessments for banks, which still benefit from a level playing field https://www.bankingsupervision.europa.eu/press/publications/newsletter/2023/html/ssm.nl230816_3.en.html
How did euro area current account balance evolve in June? How does it compare with the same month a year earlier? Find out more in the press release https://www.ecb.europa.eu/press/pr/stats/bop/2023/html/ecb.bp230822~b793a6f093.en.html
🧵What makes a good banknote? It should be easy to use, appeal to the public and be hard to counterfeit. And its design needs to speak to people. #TheECBblog explores the principles of banknote design – and asks for your input https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog230824~362178a805.en.html
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RT Christine Lagarde
Hello from the Jackson Hole Economic Policy Symposium! I’m looking forward to sharing my thoughts and exchanging views with central bankers from around the globe on the very relevant theme of “Structural shifts in the global economy”. Thanks for hosting the event @KansasCityFed!
🐦🔗: https://n.respublicae.eu/Lagarde/status/1695096738451689833
🧵Changes in labour markets, the energy transition and a deepening geopolitical divide are characterising the current environment, says President @Lagarde at Jackson Hole.
We need to understand how these shifts will affect our economies and how we can best respond to them
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How do our interest rate hikes fight inflation? Are we already seeing the impact on prices? And is this the end of super-low rates?
Host @katieranger_ puts these questions to our Chief Economist Philip R. Lane in #TheECBPodcast’s Summer School mini-series https://pod.link/ecbpodcast/episode/08504aa69b1b50ea1c2c9294d49c3341
The latest Economic Bulletin is out!
The Bulletin presents the economic and monetary information which forms the basis for our policy decisions.
Read more https://www.ecb.europa.eu/pub/economic-bulletin/html/eb202305.en.html
Consumers’ interest rate expectations have increased following the tightening of monetary policy, our #EconomicBulletin finds. Participants in our Consumer Expectations Survey are factoring the impact of higher interest rates into their spending decisions https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202305_02~09baa904dd.en.html
Unofficial automated mirror. No copyright asserted. ∎ The European Central Bank is the central bank for Europe's single currency, the euro. Its main task is to maintain the euro's purchasing power.
Joined Apr 2022
