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
In 2022 we conducted the first climate risk stress test of euro area central bank balance sheets to analyse how sensitive our financial risk profile can be to climate-related risk scenarios and improve our risk assessment capabilities https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202302_06~0e721fa2e8.en.html #EconomicBulletin
Market turmoil always triggers political debates on regulatory reforms, but we should rather focus on the effectiveness of supervision, says Supervisory Board Chair Andrea Enria. Effective supervision is the best reassurance for depositors.
Excess reserves affect the way we implement monetary policy, says Executive Board member @Isabel_Schnabel. In the steady state, our balance sheet should only be as large as is necessary to ensure sufficient liquidity and steer short-term interest rates
https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230327_1~fe4adb3e9b.en.html
We expect all banks under our supervision to be fully aligned with our expectations on climate and environmental risks by the end of 2024, says Supervisory Board Vice-Chair @FrankElderson. It’s both urgent and vitally important for banks to identify and manage those risks.
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RT @FrankElderson: Banks are making necessary progress in addressing climate and environmental risks. However, it should be noted that their environmental risk management capabilities are…
Watch live from 17:00 CET: Executive Board member @Isabel_Schnabel delivers a speech on balance sheet size and interest rate control at @Columbia University in New York City
How did euro area bank lending and money supply evolve in February? How do they compare with January’s figures? Find out more in the press release https://www.ecb.europa.eu/press/pr/stats/md/html/ecb.md2302~952f671d72.en.html
Our #EconomicBulletin assesses the uneven impact of recent energy price shocks. Those more affected include lower-income households and non-energy companies, despite government support. This is because they were more exposed to fluctuations in energy costs https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202302_05~d811cd64f4.en.html
Russian oil supplies have been resilient to the EU embargo and the G7 price cap, limiting the effect of sanctions on global oil prices. But sanctions could yet have a stronger impact on global oil markets as uncertainty remains, says the #EconomicBulletin https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202302_02~59c965249a.en.html
Speech @Isabel_Schnabel : Inflation in the euro area and the US - causes, persistence, outlook (presentation slides) https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230326~7c9d75b428.en.pdf
A decline in core inflation is key to achieving a timely return to our 2% inflation target, Vice-President Luis de Guindos tells Irish @businessposthq. Financial stability is vital and we’re closely monitoring it.
Read more https://www.ecb.europa.eu/press/inter/date/2023/html/ecb.in230326~d58344edad.en.html
Interview Luis de Guindos with Business Post https://www.ecb.europa.eu/press/inter/date/2023/html/ecb.in230326~d58344edad.en.html
RT @FrankElderson: Join me in turning off the lights for #EarthHour at 20:30 CET today! By supporting this global movement, we’ll raise awareness about the importance of climate action.
Want to know what the @ecb is doing to tackle climate change? Read our climate web page https://www.ecb.europa.eu/ecb/climate/html/index.en.html
RT @FrankElderson: We’ve taken key steps to align our portfolios with Paris Agreement goals, but our disclosures show there’s a long way to go. We must continue finding ways to deliver on our climate goals as we adapt to a new economic landscape. #TheECBblog @Isabel_Schnabel https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog.230324~f417b719fd.en.html
For the first time, the ECB is disclosing the carbon footprint of its financial asset holdings.
In #TheECBblog, @FrankElderson and @Isabel_Schnabel review our progress and look into how we can ensure we are in line with the goals of the Paris Agreement https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog.230324~f417b719fd.en.html
Speech Philip R. Lane: Monetary Policy in Europe: The Role of Monetary Union (presentation) http://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230323~3774a9d673.en.pdf?ca5c8372263d3a42da46b5e59403cc91
Watch live at 16:00 CET: Chief Economist Philip R. Lane discusses the post-1973 currency regime and inflation experiences at a conference organised by the Peterson Institute for International Economics.
Follow live https://www.youtube.com/watch?v=LeUWEmBRoEE
RT @FrankElderson: These climate-related financial disclosures show the progress we’ve made so far in decarbonising our portfolios and the way we still have to go.
They’ll become a powerful tool for monitoring progress towards our overall climate objectives ⬇️
For details on the scope of the disclosures, the methodology behind them and the data we used, check out our dedicated FAQ https://www.ecb.europa.eu/ecb/climate/climate-related-financial-disclosures/html/ecb.faq_climate_data.en.html
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All euro area central banks will publish their own disclosures over the coming weeks.
We’ll keep improving our disclosures and reviewing our climate-related measures to support a decarbonisation path in line with Paris Agreement goals
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🧵We’ve published our first climate-related financial disclosures.
They provide information on the carbon footprint of euro area central banks’ corporate sector holdings and our own investment portfolios.
Press release https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230323~05efc3cf49.en.html
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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
