• How does trust in a central bank affect people’s inflation expectations? Our guest @Siria_Angino talks about how trust from the public helps the ECB to deliver on its mandate in the latest episode of The ECB #Podcast Link https://t.co/kaQ5nkciu8
    European Central Bank Mon 09 Dec 2019 10:24
  • We should never underestimate the political commitment to the euro, says Financial Times’ @martinwolf_ to our host @michaelsteen. Listen to The ECB #Podcast, subscribe and let us know what you think Link https://t.co/fazz6fTba3
    European Central Bank Fri 06 Dec 2019 16:51
  • ECB note on innovation and its impact on the European retail payment landscape Link
    European Central Bank Wed 04 Dec 2019 18:24
  • Working paper: Inflation trends in Asia - Implications for central banks Link
    European Central Bank Wed 04 Dec 2019 10:18
  • Working paper: The global financial cycle and capital flow episodes - A wobbly link? Link
    European Central Bank Wed 04 Dec 2019 10:18
  • Have you listened to the latest episode of our podcast yet? Our host @michaelsteen talks to behavioural economist @Siria_Angino about people’s support for the euro and trust in the ECB Link https://t.co/k9ugS8uQ16
    European Central Bank Wed 04 Dec 2019 09:33
  • ECB will directly supervise 117 banks in 2020 Link
    European Central Bank Wed 04 Dec 2019 09:03
    ECB started directly supervising subsidiaries of UBS, J.P. Morgan, Morgan Stanley and Goldman Sachs in 2019 following Brexit relocationsECB to directly supervise Akcin? bendrov? Šiauli? bankas as third largest credit institution in LithuaniaOther changes result from group reorganisations, regulatory changes, a licence withdrawal and other developments
  • Euro area bank interest rate statistics (Oct 2019) Link
    European Central Bank Wed 04 Dec 2019 09:03

    Data for cost of borrowing and deposit interest rate for corporations

    The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, remained broadly unchanged in October 2019. The interest rate on new loans of over €1 million with a floating rate and an initial rate fixation period of up to three months increased by 4 basis points from the previous month to 1.14%, driven by the interest rate effect. The rate for new loans of the same size with an initial rate fixation period of over ten years increased by 10 basis points to 1.33%. The month-on-month increase was due to developments in two euro area countries and it was mainly driven by the weight effect. In the case of new loans of up to €250,000 with a floating rate and an initial rate fixation period of up to three months, the average rate charged remained broadly unchanged at 2.01%.

    As regards new deposit agreements, the interest rate on deposits from corporations with an...

  • ECB sanctions Natixis Wealth Management Luxembourg for breaching large exposures limit and large exposures reporting requirements in 2016 and 2017 Link
    European Central Bank Tue 03 Dec 2019 22:28
    Natixis Wealth Management Luxembourg found in breach of large exposures limit and of the large exposures reporting requirements between December 2016 and November 2017ECB imposes a penalty of € 1,850,000 on Natixis Wealth Management Luxembourg
  • Cœuré: The risk is high that Europe will once again fail to fix its roof when the sun is shining Link 6/6
    European Central Bank Tue 03 Dec 2019 17:33

    It is my pleasure to welcome you here tonight to the ECB’s representative office in Brussels. It is overwhelming to see so many long-standing companions and friends.

    This office was established in the midst of the euro area sovereign debt crisis in 2011. Today, the Brussels office is part and parcel of the ECB.

    It is our eyes and ears on all European matters, thanks to the unwavering commitment and dedication of our staff here on the ground. Their network is essential for us to get first-hand insights and intelligence from Brussels.

    Maintaining a high level of cooperation and dialogue with our main European stakeholders is essential, as also exemplified by our successive efforts to further enhance the ECB’s transparency and accountability to the European Parliament and to the public at large.[1]

    Not everything is in our hands though.

    Diversity is a case in point. Taking into account our latest decisions, the proportion of female senior managers...

  • Cœuré: Intergovernmental decision-making may be politically convenient in the short term, but it carries a high economic cost in the longer run. It favours procrastination and it turns every decision into a zero-sum game Link 5/6
    European Central Bank Tue 03 Dec 2019 17:33

    It is my pleasure to welcome you here tonight to the ECB’s representative office in Brussels. It is overwhelming to see so many long-standing companions and friends.

    This office was established in the midst of the euro area sovereign debt crisis in 2011. Today, the Brussels office is part and parcel of the ECB.

    It is our eyes and ears on all European matters, thanks to the unwavering commitment and dedication of our staff here on the ground. Their network is essential for us to get first-hand insights and intelligence from Brussels.

    Maintaining a high level of cooperation and dialogue with our main European stakeholders is essential, as also exemplified by our successive efforts to further enhance the ECB’s transparency and accountability to the European Parliament and to the public at large.[1]

    Not everything is in our hands though.

    Diversity is a case in point. Taking into account our latest decisions, the proportion of female senior managers...

  • Cœuré: The increasing complexity of the Stability and Growth Pact and the politicisation of its enforcement have not served us well Link 4/6
    European Central Bank Tue 03 Dec 2019 17:33

    It is my pleasure to welcome you here tonight to the ECB’s representative office in Brussels. It is overwhelming to see so many long-standing companions and friends.

    This office was established in the midst of the euro area sovereign debt crisis in 2011. Today, the Brussels office is part and parcel of the ECB.

    It is our eyes and ears on all European matters, thanks to the unwavering commitment and dedication of our staff here on the ground. Their network is essential for us to get first-hand insights and intelligence from Brussels.

    Maintaining a high level of cooperation and dialogue with our main European stakeholders is essential, as also exemplified by our successive efforts to further enhance the ECB’s transparency and accountability to the European Parliament and to the public at large.[1]

    Not everything is in our hands though.

    Diversity is a case in point. Taking into account our latest decisions, the proportion of female senior managers...

  • Cœuré: A capital markets union cannot function without European-level supervision of systemic intermediaries and infrastructures Link 3/6
    European Central Bank Tue 03 Dec 2019 17:33

    It is my pleasure to welcome you here tonight to the ECB’s representative office in Brussels. It is overwhelming to see so many long-standing companions and friends.

    This office was established in the midst of the euro area sovereign debt crisis in 2011. Today, the Brussels office is part and parcel of the ECB.

    It is our eyes and ears on all European matters, thanks to the unwavering commitment and dedication of our staff here on the ground. Their network is essential for us to get first-hand insights and intelligence from Brussels.

    Maintaining a high level of cooperation and dialogue with our main European stakeholders is essential, as also exemplified by our successive efforts to further enhance the ECB’s transparency and accountability to the European Parliament and to the public at large.[1]

    Not everything is in our hands though.

    Diversity is a case in point. Taking into account our latest decisions, the proportion of female senior managers...

  • Cœuré: Completing the Single Market is a central pillar in our efforts to boost productivity growth. It will make our monetary union more resilient and support the normalisation of real interest rates towards higher, positive levels Link 2/6 https://t.co/eboAAinSxs
    European Central Bank Tue 03 Dec 2019 17:33

    It is my pleasure to welcome you here tonight to the ECB’s representative office in Brussels. It is overwhelming to see so many long-standing companions and friends.

    This office was established in the midst of the euro area sovereign debt crisis in 2011. Today, the Brussels office is part and parcel of the ECB.

    It is our eyes and ears on all European matters, thanks to the unwavering commitment and dedication of our staff here on the ground. Their network is essential for us to get first-hand insights and intelligence from Brussels.

    Maintaining a high level of cooperation and dialogue with our main European stakeholders is essential, as also exemplified by our successive efforts to further enhance the ECB’s transparency and accountability to the European Parliament and to the public at large.[1]

    Not everything is in our hands though.

    Diversity is a case in point. Taking into account our latest decisions, the proportion of female senior managers...

  • (THREAD) The euro area architecture is still not crisis-proof, says Executive Board member Benoît Cœuré in Brussels. Read his full speech here Link 1/6
    European Central Bank Tue 03 Dec 2019 17:33

    It is my pleasure to welcome you here tonight to the ECB’s representative office in Brussels. It is overwhelming to see so many long-standing companions and friends.

    This office was established in the midst of the euro area sovereign debt crisis in 2011. Today, the Brussels office is part and parcel of the ECB.

    It is our eyes and ears on all European matters, thanks to the unwavering commitment and dedication of our staff here on the ground. Their network is essential for us to get first-hand insights and intelligence from Brussels.

    Maintaining a high level of cooperation and dialogue with our main European stakeholders is essential, as also exemplified by our successive efforts to further enhance the ECB’s transparency and accountability to the European Parliament and to the public at large.[1]

    Not everything is in our hands though.

    Diversity is a case in point. Taking into account our latest decisions, the proportion of female senior managers...

  • Working paper: Financial cycles, credit bubbles and stabilization policies Link
    European Central Bank Tue 03 Dec 2019 10:32
  • Working paper : Merging structural and reduced-form models for forecasting: opening the DSGE-VAR box Link
    European Central Bank Tue 03 Dec 2019 10:27
  • Lagarde: The last European elections highlighted that people expect ambitious responses from Europe. Matching these expectations by working together is the best way to strengthen people’s confidence in the European project, the euro and the ECB. (10/10) Link
    European Central Bank Mon 02 Dec 2019 14:02

    Brussels, 2 December 2019

    Madam Chair,

    Honourable members of the Economic and Monetary Affairs Committee,

    Ladies and gentlemen,

    I am very happy to be back before this Committee for my first regular hearing as ECB President. I want to express my personal and sincere gratitude to this house for the support I received during the appointment process. And I look forward to a constructive and positive relationship between our two institutions going forward.

    The connection between the ECB and the European Parliament is especially valuable today as a means to reinforce trust in European institutions.

    In the euro area, support for the single currency has grown steadily in recent years, rising from a low of 62% in 2013 during the crisis to an all-time high of 76% today. Trust in the ECB has grown in that time as well – but its recovery after the crisis has been less dynamic.[1]

    My predecessors at the ECB were alert to this and already acted to...

  • Lagarde: We play our part, in full independence, in assessing the value of central bank digital currencies for European citizens and the broader economy. Our ultimate goal is to foster safer, innovative and integrated payments in euro. (9/10)
    European Central Bank Mon 02 Dec 2019 14:02
  • Lagarde: Since 2016, the ECB has been exploring the application of new technologies, particularly distributed ledger technologies, to market infrastructures. But driving change also means identifying and managing the risks that come with breaking new ground. (8/10)
    European Central Bank Mon 02 Dec 2019 14:02
  • Lagarde: Last year, the ECB launched TARGET Instant Payment Settlement (TIPS), an instant payment service that allows money to reach the recipient within seconds, 24 hours a day, 365 days a year. TIPS increases the speed and safety of customers’ daily transactions. (7/10)
    European Central Bank Mon 02 Dec 2019 14:02
  • Lagarde: Our review of the ECB’s monetary policy strategy will start in the near future. It will be guided by two principles: thorough analysis and an open mind. This will require time for reflection and for wide consultation. (6/10)
    European Central Bank Mon 02 Dec 2019 14:02
  • Lagarde: The macroeconomic landscape has changed and new challenges such as demographics, disruptive technology and climate change have emerged. This calls for us to review our strategy and consider how our monetary policy can best deliver on our mandate. (5/10)
    European Central Bank Mon 02 Dec 2019 14:02
  • Lagarde: The ECB’s accommodative policy stance has been a key driver of domestic demand during the recovery, and that stance remains in place. Monetary policy will continue to support the economy and respond to future risks in line with our price stability mandate. (4/10)
    European Central Bank Mon 02 Dec 2019 14:02
  • Lagarde: I look forward to a constructive and positive relationship between our two institutions going forward. The connection between the ECB and the European Parliament is especially valuable today as a means to reinforce trust in European institutions. (3/10)
    European Central Bank Mon 02 Dec 2019 14:02
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