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
🇪🇺@Isabel_Schnabel: The United Kingdom remains an important partner of the European Union and the euro area, and London is still a global financial centre. Therefore, the ECB has a small office in London to maintain our network and collect market intelligence. #AskECB
RT @JanMusschoot: @ecb @Isabel_Schnabel Why does the ECB need an office in London? #AskECB
?t=BJ0IfNDJteR_GoKMPOY4XA&s=19
The @NGFS_ climate scenarios explain how climate risks may evolve in the future and what that means for our economy.
Would you like to use them, or do they already guide your work? Participate in the NGFS survey to help ensure that they remain relevant https://www.ngfs.net/en/webform/user-feedback-survey-ngfs-climate-scenarios-february-2023
No one wins in a wage-price spiral, Vice-President Luis de Guindos tells Süddeutsche Zeitung @SZ. We must avoid one or the ECB will have to raise interest rates by more than would have otherwise been needed.
Read the interview https://www.ecb.europa.eu/press/inter/date/2023/html/ecb.in230208~028be3e58d.en.html
Every year we look at the challenges banks face, to make sure they can fend them off. What did we find in our latest assessment?
Host @KatieRanger_ explores this topic with Supervisory Board Chair Andrea Enria in #TheECBPodcast.
Tune in https://pod.link/1481819425/episode/25e491a0ebc06788e02079017b73e6a6
Enria: We’re asking banks to make sure they actively manage risks of cross border and direct exposure to Russia. Many have already taken action.
Enria: Governance is one area where we are raising more issues with many banks. If this issue is not resolved there will be some supervisory consequences.
Enria: We noticed an increase in cyber attacks during the pandemic and after Russia invaded Ukraine. The level of damage from these attacks has not been massive, but it is an area to which banks need to devote a lot of attention.
The landscape of banks' internal models is very complex. We have launched an initiative to simplify it. The benefits of internal models will be limited with the introduction of the output floor, Supervisory Board Chair Andrea Enria tells a press conference.
Enria: European banking supervision is not only working to ensure banks remain resilient to shocks. It is also striving to make its supervisory interventions more effective and enforceable for long-lasting and unresolved issues affecting the banking sector
Enria: For the few banks that are highly exposed to the risks of leveraged transactions or have specific deficiencies in their risk controls for this line of business, in the 2022 cycle we introduced a targeted capital add-on in their Pillar 2 requirements
Enria: Risk data aggregation and reporting was the worst-rated sub-category of internal governance in the 2022 SREP cycle. Despite supervisory efforts, adequate risk data aggregation and reporting capabilities are still the exception
Enria: There are some signs of latent risk, highlighting the need for a prudent approach to risk management and provisioning. Although headline NPE figures continued to improve, bad loans have already started to increase in specific portfolios, such as consumer finance
Supervisory Board Chair Andrea Enria: A key factor putting downward pressure on supervisory stance is the persistent weakness of internal controls. Risk control deficiencies are still affecting credit scores https://www.bankingsupervision.europa.eu/press/speeches/date/2023/html/ssm.sp230208~4ee762ce05.en.html
Watch the ECB Banking Supervision press conference live: Chair Andrea Enria and Vice-Chair @FrankElderson present SREP 2022 results. https://n.respublicae.eu/i/broadcasts/1YpKkgAkRnPKj
Banks have solid capital and liquidity positions and increased profitability, our latest SREP shows. However, they still need to address persistent weaknesses, particularly in their risk control and governance frameworks.
Read more https://www.bankingsupervision.europa.eu/press/pr/date/2023/html/ssm.pr230208~8971619db2.en.html
Join Supervisory Board Chair Andrea Enria and Vice-Chair @FrankElderson at 10:00 CET today as they present the results of the 2022 Supervisory Review and Evaluation Process and take questions from journalists https://www.bankingsupervision.europa.eu/home/html/index.en.html
Last call to enter the Young Economist Prize for the chance to win €10,000 and share your research at this year’s #ECBForum, on macroeconomic stabilisation in a volatile inflation environment!
Submit your paper by midnight on 13 February https://www.ecb.europa.eu/pub/conferences/ecbforum/YE_competition/html/index.en.html
Register and watch live today from 18:00 CET:
Executive Board member @Isabel_Schnabel discusses current monetary policy at a webinar hosted by @finanzwende (in German)
https://www.finanzwende.de/ueber-uns/web-seminare/web-seminar-geldpolitik-in-zeiten-von-pandemie-und-krieg/
RT @finanzwende: Diskutiert mit @Isabel_Schnabel über Geldpolitik in Zeiten von Pandemie und Krieg. Dienstag, 18 Uhr.
Jetzt anmelden: https://www.finanzwende.de/ueber-uns/web-seminare/web-seminar-geldpolitik-in-zeiten-von-pandemie-und-krieg/
Watch live from 10:00 CET tomorrow: Supervisory Board Chair Andrea Enria and Vice-Chair @FrankElderson will present the results of the 2022 Supervisory Review and Evaluation Process and take questions from journalists https://www.bankingsupervision.europa.eu/home/html/index.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
