ECB Youth Dialogue
We know that the decisions we take can have an impact on your day-to-day life. That’s why we want to make sure that you not only hear from or about us, but also have the chance to talk directly to and with us.
The ECB Youth Dialogue gives you the chance to do exactly that. We hold events around Europe – and online – that put you in direct contact with ECB policymakers so you can ask any questions you have and share your views with us.
Youth Dialogues on topics relating to central bankingYouth Dialogue with Andrea Enria, Rome, December 2019
Students and alumni from the Sapienza University of Rome talked with Andrea Enria, Chair of the Supervisory Board, about European banking supervision, transparency, digitalisation and other topics. Mr Enria also asked the participants about the challenges they face as aspiring professionals in the financial sector.
The event, which was held in partnership with the university’s Faculty of Economics, was an excellent opportunity for participants to express their concerns and views about the future of European banking supervision with a senior policymaker. Mr Enria offered practical advice and recommendations to those interested in pursuing a career in banking supervision. Here are the highlights from the discussion!
Watch the full event
Past events
Young professionals working in the financial industry in Lisbon talked with Andrea Enria, Chair of the Supervisory Board, and Elisa Ferreira, Vice-Governor of the Banco de Portugal, about European banking supervision, ethics in finance, digitalisation and other topics.
The event, which was held in partnership with Banco de Portugal, was an excellent opportunity for young professionals to share their thoughts, their experiences and the challenges they face with senior policymakers, while learning from each other’s perspectives. Here’s a taste of the discussion!
Having different views involved, having people that are able to challenge decisions of executives, I think, is key for good governance.
– Andrea Enria
Big tech companies have a large amount of information and captive customers. This is an area I am concerned about: payments, forex and consumer credits – and how this can affect banking.
– Andrea Enria
Until there is the necessary political will to complete the missing pieces of the Banking Union – including a fully-fledged common deposit scheme – we must take small technical steps to mitigate the big stability risks arising from the present incomplete architecture.
– Elisa Ferreira
Artificial intelligence can also be used on the supervisory side. We could use it to identify red lights which helps banks manage their risks.
– Andrea Enria
We have to work on transparent and explainable AI to make sure the outputs are fair, transparent and trustworthy for the society at large.
– Bernardo Caldas, participant (Head of data science and artificial intelligence at Novo Banco)
Bankers need to look beyond the short-term horizon when managing risks to tackle climate change. We have not yet challenged this short-sightedness.
– Andrea Enria
Your generation has been particularly hit by the financial crisis, and starting a career in finance at that time must have been really difficult. The key change needed is culture, i.e. the way that bankers perceive their responsibilities – also towards the society at large. This cannot be fixed with rules, but it must be nourished within the sector itself.
– Andrea Enria
Watch the full event
Students and alumni from Frankfurt School of Finance and Management had the chance to talk to the heads of European banking supervision about their work to keep banks safe and Europe’s financial sector strong and stable, in the interests of all of us.
With their terms of office drawing to a close, Supervisory Board Chair Danièle Nouy and Vice-Chair Sabine Lautenschläger looked back on what has been achieved since European banking supervision was established in 2014 and shared their experiences of what it was like doing something that had never been done before.
Here’s a taster of the discussion!
We were a tiny start-up in a powerful incubator. – Danièle Nouy
We were able to make use of, for example, HR and IT services already established in the ECB. – Sabine Lautenschläger
If you have a strong education, you can learn the rest. And it’s not boring at all – sometimes I wish it was more boring! There’s always work to be done. – Danièle Nouy
They are not currencies – they are digital assets. – Sabine Lautenschläger
They are a kind of casino! – Danièle Nouy
Our job is to make sure banks are resilient so they are ready for the next crisis, whenever it comes. – Danièle Nouy
If you have to move 26 authorities and 3,000 staff and ensure equal treatment of everyone, you need to have procedures. Then it’s not bureaucracy, it’s a way of ensuring credibility. – Sabine Lautenschläger
European banks started with €1 trillion of bad loans. Now we’re at €650 billion because we put the right tools in place. – Danièle Nouy
I like my job best on Fridays! Lots of us get together for a regular meeting that day and it’s always unbelievably rewarding to see everyone’s commitment, to learn from the different pools of experience and to design the future of European banking supervision together. – Sabine Lautenschläger
The ECB offers traineeships in supervision to students from many different fields of study. Just keep an eye on the website! – Danièle Nouy
Find out more!Danièle Nouy, Chair of the Supervisory Board, met with a group of young professionals working in the financial industry in Madrid. They had many questions for her, not only about European banking and financial stability, but also about ethics in finance, digitalisation and other more personal topics, such as what motivates her to do the work she does.
The event, which was held in partnership with Banco de España, was a great opportunity for younger professionals to share their thoughts and experiences with a senior policymaker and to learn from each other’s perspectives.
Here’s a taster of the discussion!
Banks’ reputations suffered with the crisis. How do we regain people’s trust?
Ethics are crucial. Banks need to take a longer-term view and act ethically. You can help to make banking safer and better.
We are working hard to adapt to the new environment we’re in. Are regulators doing the same?
Yes, we are working as hard as you to adapt. I have been doing supervision for 40 years, but I’m learning something new every day. That’s the beauty of the job. It’s very intellectually stimulating to do this job!
In my opinion, one of the biggest threats to European banking is the entrance of new players. What’s your view on fintech?
I think innovation is the name of the game. There will always be customers that will pay for traditional banking services, while others, like my granddaughter, do everything by phone. There is room for all kinds of bank. But fintechs offering banking services will be supervised as banks.
Do you think there should be more mergers and acquisitions in Europe?
We need fewer banks, but there are different ways of fixing the issue. Banks can be wound down or they can merge. But mergers need to be strategic and result in sustainable banks. Two ducks don’t make a swan – especially two sick ducks!
I really enjoyed meeting these young people – they had very good questions on many topics. They were not shy!
She was really clear and I think it was really enriching and a really positive experience. It was casual, natural, I felt really comfortable. – Marcela Nario
I think this is a wonderful way to exchange views with young people working in banks. – Federico Power Esteban
Find out more
Do you want to know more about the topics of this ECB Youth Dialogue? Take a look at the following pages!
European banking
Financial stability
Spotlight on financial stabilityCyber resilience