Events listed in [ECB] European Central Bank
ECB and SRB welcome European Commission’s legislative proposals for bank crisis ...
ID 22812
In a joint statement, the ECB and SRB have expressed their support for the EC’s proposed legislative changes to the European bank crisis management and deposit insurance framework. According to the ECB Vice-President and Chair of the Supervisory Board, Luis de Guindos and Andrea Enria respectively, the proposals will allow authorities to manage bank crises more efficiently and harmoniously, thus completing the banking union. ...
Christine Lagarde: Central banks in a fragmenting world
ID 22796
Christine Lagarde, the President of the ECB, held a speech entitled „Central banks in a fragmenting world“ at the Council on Foreign Relations in New York on 17 April 2023. We would like to present they key takeaways of this important speech: The global economy is undergoing a period of transformative change, with geopolitical tectonic plates shifting faster. The world is witnessing a **fragmentation ...
ECB welcomes expert group recommendations on European banking supervision
ID 22793
The ECB published its Assessment of the European Central Bank’s Supervisory Review and Evaluation Process, which represents the results of an external assessment of the SREP, including recommendations to become more efficient and effective. Indeed, the SREP is a vital activity of ECB Banking Supervision during which supervisors assess the risks banks face and ensure that banks are managing those risks appropriately. The report ...
Decision (EU) 2023/[XX] of the European Central Bank of 5 April 2023 amending ...
ID 22690
The Governing Council of the ECB has adopted a Decision amending Decision (EU) 2019/1743 on the remuneration of holdings of excess reserves and of certain deposits. The Decision concerns the temporary framework that was implemented in September 2022 by Decision (EU) 2022/1521, setting the remuneration of deposits at the deposit facility rate or the euro short-term rate (€STR), whichever was lower, and which will ...
Guideline (EU) 2023/[XX] of the European Central Bank of 5 April 2023 amending ...
ID 22681
The ECB has amended Guideline (EU) 2019/671 on domestic asset and liability management operations by the NCBs. The present amendment of Guideline (EU) 2019/671 reduces the frequency of the assessment of the implementation of the guideline to be submitted by the ECB to the Governing Council from one year to two years. Consequently, the **frequency with which the NCBs inform the ECB of the ...
ECB starts disclosing climate impact of portfolios on road to Paris-alignment
ID 22449
The ECB has released its first set of climate-related financial disclosures, providing information on the carbon footprint and exposure to climate risks of its portfolios, as well as on climate-related governance, strategy and risk management. The disclosures cover the Eurosystem’s corporate security holdings in the CSPP and PEPP, alongside the ECB’s euro-denominated NMPPs, comprising its staff pension fund and own funds portfolio, and are ...
Successful launch of new T2 wholesale payment system
ID 22397
The Eurosystem’s successfully launched the new T2 wholesale payment system, which includes an RTGS system and a central liquidity management tool, marking a significant milestone in the harmonisation and integration of TARGET services for Europe’s financial markets. This project is part of the Eurosystem’s continued efforts to modernise market infrastructure to ensure it meets the needs and expectations of market participants while enhancing the ...
Coordinated central bank action to enhance the provision of US dollar liquidity
ID 22355
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank have announced a joint effort to enhance the provision of liquidity through the standing US dollar liquidity swap line arrangements. As a reminder, the ECB established standing swap arrangements with the above six central banks back in 2023 in order ...
Statement by Christine Lagarde, President of the European Central Bank, on the ...
ID 22348
Christine Lagarde, President of the European Central Bank, released a statement on 19 March 2023 regarding the announcement made by the Swiss authorities. Lagarde expressed her appreciation for the timely actions and decisions made by the Swiss authorities, which have been crucial in reinstating market stability and financial security. Lagarde also emphasized the robustness of the banking sector in the euro area, which boasts ...
The climate and the economy
ID 22164
The European Central Bank (ECB) published a discussion paper in its „Working Paper Series: The climate and the economy“, examining the economic implications of climate change and the public policies being implemented to address it. The paper identifies key medium- and long-term effects on growth, innovation, inflation, financial markets, fiscal policy, and socio-economic outcomes. The authors argue that climate change will cause __income divergence, ...