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 @FrankElderson: We need to increase the uptake and efficiency of climate catastrophe insurance and create incentives to adapt to and reduce climate risks.
Natural disasters are becoming more frequent and more severe, with a big impact on our economy and financial system ⬇️
The EU has a climate insurance gap. Only about a quarter of losses from climate-related disasters are insured. Greater coverage could reduce the resulting economic damage.
A joint #TheECBblog post with @eiopa_europa_eu looks at how to go about this https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog.230424~4cdc3a38ba.en.html
Panetta: The EU is one of the most open economies, with significant dependencies that can turn into vulnerabilities.
It needs to defend multilateralism and revisit its growth model, balancing external orientation with domestic investment and home-grown innovation
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🧵 Closer European integration is the best response to global fragmentation, says Executive Board member Fabio Panetta at @Bruegel_org. It increases our resilience to the destabilising effects of geopolitical tensions on the economy.
Speech https://www.ecb.europa.eu//press/key/date/2023/html/ecb.sp230424~67a4af298c.en.html
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Did you know only a quarter of climate catastrophe losses in the EU are insured? Together with @eiopa_europa_eu, we’re calling for increased uptake of insurance to protect people and businesses in Europe against losses from natural disasters.
Press release https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230424~a242491813.en.html
What are climate disclosures and how are they helpful?
Check out our new #Explainer to find out why climate disclosures matter for us as a central bank and banking supervisor https://www.ecb.europa.eu/ecb/educational/explainers/html/what-are-climate-disclosures.en.html
RT @FrankElderson: Climate disclosures mean we can all make more informed decisions. At the @ecb, we also publish information on our own carbon footprint and how we plan to reduce it.
But what e…
Shocks resulting from the climate crisis are felt by our economy, says Executive Board member @FrankElderson at @PIIE. As a central bank and banking supervisor, we therefore cannot ignore climate and environmental factors, and have to take them into account in our work.
RT @FrankElderson: At the @ecb we are climate and environmental policy takers, not policymakers. We take climate and environmental factors into account in our work to deliver on our supervisory and…
RT @FrankElderson: Follow live from 16:30 CET: Looking forward to speaking at @PIIE about the importance of taking climate-related and environmental factors into account in our monetary policy and banking supervision activities https://www.piie.com/events/accounting-climate-change-within-central-bank-and-banking-supervision-mandates
What are climate disclosures and how are they helpful?
Check out our new #Explainer to find out why climate disclosures matter for us as a central bank and banking supervisor https://www.ecb.europa.eu/ecb/educational/explainers/html/what-are-climate-disclosures.en.html
RT @FrankElderson: We've published our third assessment of the progress European banks have made on disclosing climate and environmental risks.
As banking supervisors, we'll take appropriate supervisory action if necessary to ensure banks comply with stricter disclosure standards ⬇️
European banks have made progress on disclosing climate risks. However, they urgently need to improve the quality of those disclosures, as tighter EU rules will take effect this year. Non-compliance will trigger supervisory action.
Press release https://www.bankingsupervision.europa.eu/press/pr/date/2023/html/ssm.pr230421~213bf10fbe.en.html
Firms must grapple not only with the inflation shock but also with the impact of the upward shift in interest rates that is needed to ensure inflation quickly subsides, says Chief Economist Philip R. Lane at the @Entirl Summit.
Speech https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230419~09fe9b3295.en.html
Does Croatia joining the euro change the ECB?
Many headlines have focused on what switching to the euro means for Croatia. But now #TheECBblog looks at what has changed for us at the central bank.
Read the post https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog.230419~5eaa4a67e7.en.html
Watch live from 12:30 CET today: Chief Economist Philip R. Lane speaks about the impact of the monetary policy tightening and the financing of firms at the @Entirl Summit https://www.enterprise-ireland.com/en/Events/OurEvents/Summit_2023.html
How did euro area current account balance evolve in February? 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.bp230419~d1c3dbc3d4.en.html
RT @BIS_org: Project Gaia is a joint effort of the #BISIH Eurosystem centre, @bancodeespana, @bundesbank and @ecb. It will gather all the scattered and diverse information on how financial firms deal with climate change and make it available in a structured database https://www.bis.org/about/bisih/topics/suptech_regtech/gaia.htm
RT @FrankElderson: Another crucial step towards making climate and environmental risk assessments easier!
To make companies’ climate-related data available quickly and efficiently, we are working on an open-access, web-based tool together with @BIS_org, @BancoDeEspana and @bundesbank ⬇️
The global economy is starting to split into competing blocs, President @Lagarde tells the @CFR_org.
To provide for stability, we need to think about how to respond to changing geopolitics not when fragmentation occurs, but before.
Read her speech https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230417~9f8d34fbd6.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
