Ecb Banking Supervision
11 july 2019 what are benchmark rates why are they important and why are they being reformed.
Ecb banking supervision. For media queries please contact uta harnischfeger tel. Ecb banking supervision will engage with banks to ensure the continuity of their critical functions. The european central bank ecb is the central bank of the 19 european union countries which have adopted the euro. The coronavirus crisis and ecb banking supervision.
These measures will be revised as necessary. As of october the two countries significant banks will be supervised directly by the ecb. Ecb banking supervision provides temporary capital and operational relief in reaction to coronavirus. Access legal documents related to european banking supervision including ecb supervisory decisions and a compendium of relevant eu and international laws.
Taking stock and looking ahead by andrea enria chair of the supervisory board of the ecb. 49 69 1344 6321. The ecb welcomes bulgaria and croatia to european banking supervision and their supervisory authorities to the supervisory board with full voting rights as first non euro area members. The ecb supervisory board is monitoring developments.
Ecb banking supervision today published its first assessment of the potential vulnerabilities of the euro area banking sector in the wake of the coronavirus covid 19. Member of the executive board of the ecb and vice chair of the supervisory board of the ecb at the banking supervision resolution and risk management conference during the 21st euro finance week frankfurt am main 13. Banking supervision take a look at the ecb s banking supervision website for more in depth explainers on this topic. More media publications.
To assist banks in their preparation ecb banking supervision is publishing good practices outlining how banks can best structure their benchmark rate related governance identify benchmark rate related risks and create action plans and documentation in relation to the reforms. During this start up phase ecb banking supervision established banking supervision on the european level by successfully building on the best practices and supervisory cultures of the national competent authorities of the 19 euro area countries. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency. Frankfurt am main 28 july 2020.
The senior managers to head the respective business areas are.