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
Today the @NGFS_ turns 5!
The network is key in deepening and broadening our knowledge on how climate change affects the financial system and the economy.
Only together can central banks and supervisors worldwide do their part in the fight against climate change #ProudToBeNGFS
RT @NGFS_: The #NGFS turns 5 today!
In 5 years, the Network has grown to now 140 members and observers.
Congratulations to all of them for this fantastic journey and the numerous achiev…
What will our banking supervisors focus on in the next three years? Are banks ready for the economic challenges?
Host @katieranger_ talks to Supervisory Board member Kerstin af Jochnick and supervisor Mario Quagliariello on #TheECBPodcast https://pod.link/1481819425/episode/5efa6c5131872e6a80da6012cde2e8ac
High uncertainty calls for extreme prudence by both banks and supervisors, say Supervisory Board member Kerstin af Jochnick and Supervisory Strategy and Risk Director Mario Quagliariello. We stand ready to adapt our priorities if needed.
Read more https://www.bankingsupervision.europa.eu/press/blog/2022/html/ssm.blog221212~52bd154288.en.html
We’ve set our supervisory priorities for 2023-2025.
They aim to ensure banks:
- remain resilient to shocks
- address digitalisation effectively and strengthen their management
- step up efforts to address climate and environmental risks
Read more https://www.bankingsupervision.europa.eu/banking/priorities/html/index.en.html
RT @ESRBofficial: 🧵Resilience is key in helping the financial system to deliver on its goal of supporting the real economy, ESRB Chair Christine @Lagarde says in a video address at our #AnnualConference https://www.esrb.europa.eu/news/speeches/date/2022/html/esrb.sp221208~6434a7d3dd.en.html
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Panetta: The digital finance ecosystem needs an anchor of stability in the form of a digital risk-free asset, which only central bank money can provide.
That is why we are working on a digital euro and the future of wholesale settlement using central bank money
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Panetta: There's an urgent need for regulation to protect consumers, define risk management and corporate governance, and reduce the contagion risks of stablecoins.
We should tax crypto-assets according to their social costs, including tax evasion and environmental impact
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Panetta: The risks of crypto finance stem from three main flaws:
1️ Unbacked crypto-assets offer no benefits to society
2️ Stablecoins are not as stable as they claim to be
3️ Crypto markets are highly leveraged and interconnected
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🧵 Crypto-assets have become the bubble of a generation, says Executive Board member Fabio Panetta at the @LBS's Insight Summit 2022.
Crypto-assets are not money. Many are just a new way of gambling
https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp221207_1~7dcbb0e1d0.en.html
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Register to watch live from 15:30 CET: Executive Board member Fabio Panetta speaks about the bursting of the crypto bubble and the future of digital finance at @LBS
We are not calling for the implementation of Basel III just for the sake of compliance; we are doing so because it is the best way to guarantee the safety and soundness of our banks, says Supervisory Board member Elizabeth McCaul.
Read the full speech https://www.bankingsupervision.europa.eu/press/speeches/date/2022/html/ssm.sp221206~4b3db654e4.en.html
Letter from Fabio Panetta to Irene Tinagli, ECON Chair, on the technical onboarding package for digital euro prototyping
https://www.ecb.europa.eu/pub/pdf/other/ecb.mepletter221207_Tinagli~8fbed00897.en.pdf?c2c85200ac8ea6e8a862e80ed8982a90
Working Paper: Real interest rates, bank borrowing, and fragility https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2755~47e97f95c3.en.pdf?5934fa3beaf84e8b249ef080cf19a140
We have launched a long-term partnership with the
@EUI_FBF_School to deliver specialised training for all European banking supervisors. The programme will better prepare supervisors for new risks, in line with our supervisory priorities.
Find out more https://www.bankingsupervision.europa.eu/press/pr/date/2022/html/ssm.pr221206~648a78d36b.en.html
What do consumers in the euro area expect will happen to inflation, their incomes, their spending and the value of their homes 12 months from now? We’ve published the latest results of our Consumer Expectations Survey.
Press release https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.pr221207~cda8f02f9f.en.html
Speech Philip R. Lane: ECB monetary policy (slides) https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp221207~be7f420c85.en.pdf?6f0c960e5e3ccaf270d96dce51f0670a
How will we boost our cooperation as a step towards integrated reporting by banks? We outlined our strategy in a joint workshop with @EBA_News, attended by 250 participants from European authorities and the banking industry.
Find out more https://europa.eu/!B4BG3g
RT @EBA_News: 📃Collaboration is key in the way forward towards integrated reporting!
Full house yesterday in the joint workshop organised by #EBA and @ecb with authorities and the banking industry, sett…
Working Paper: Conditional density forecasting - a tempered importance sampling approach https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2754~adfdf8ae5e.en.pdf?cb47d84f9e0dedbf01ced56ee7e38225
Firms anticipate a further decline in the availability of external financing and expect their internal funds to be insufficient to meet future financing needs. Future turnover expectations remain positive, but less so than in the past. Read the results https://www.ecb.europa.eu/stats/ecb_surveys/safe/html/ecb.safe202212~6bc3312ea1.en.html
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Financing needs increased, while the availability of external funds declined slightly. The net percentage of firms reporting tighter financing conditions reached historical highs
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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
