- 30/06/2017
- Sabine Lautenschläger: Stability and growth in the euro area – who plays the leading role?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, IEP Mittagsgespräch, 30 June 2017
- 30/06/2017
- Danièle Nouy: Banks and Brexit – the clock is ticking
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at a technical workshop on Brexit organised by the ECB, Frankfurt am Main, 30 June 2017
- 29/06/2017
- Ignazio Angeloni: Crisis management in the banking union: overview and early experience
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, at the European University Institute “Financing Banking Resolution” Executive Seminar, Florence, 29 June 2017
- 28/06/2017
- Ignazio Angeloni: Exchange of views on the banking reform package with the Finance and Treasury Standing Committee of the Senate of the Republic of Italy
Introductory statement by Ignazio Angeloni, Member of the Supervisory Board of the ECB, Finance and Treasury Standing Committee of the Senate of the Republic of Italy, Rome, 28 June 2017
- 28/06/2017
- Sabine Lautenschläger: Harmonisation paves the way for a European banking market
Statement by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Federal Financial Supervisory Authority 15th anniversary event, Bonn, 28 June 2017
- 22/06/2017
- Pentti Hakkarainen: Enhancing the environment for banking competition
Keynote address by Pentti Hakkarainen, Member of the Supervisory Board of the ECB, at the FIBI International Banking Conference 2017, Dublin, 22 June 2017
- 19/06/2017
- Danièle Nouy: First ordinary hearing in 2017 of the Chair of the ECB’s Supervisory Board at the European Parliament’s Economic and Monetary Affairs Committee
Introductory statement by Danièle Nouy, Chair of the Supervisory Board of the ECB, Brussels, 19 June 2017
- 19/06/2017
- Sabine Lautenschläger: Cyber resilience – A banking supervisor’s view
Statement by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the High-Level Meeting on Cyber Resilience, Frankfurt am Main, 19 June 2017
- 13/06/2017
- Sabine Lautenschläger: Supervising banks - Four priorities
Statement by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the International Monetary Conference, London, 13 June 2017
- 01/06/2017
- Sabine Lautenschläger: Banks business models: keeping pace?
Statement by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Seventeenth Annual Conference on Policy Challenges for the Financial Sector, Washington D.C., 1 June 2017
- 01/06/2017
- Pentti Hakkarainen: Banking union in 2017 – How to supervise a €27tn banking sector?
Speech by Pentti Hakkarainen, Member of the Supervisory Board of the ECB, at the CIRSF Annual International Conference, Lisbon, 1 June 2017
- 31/05/2017
- Sabine Lautenschläger: 3-6-3: Banks and change
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Bankwirtschaftliche Tagung of the BVR, Berlin, 31 May 2017
- 18/05/2017
- Sabine Lautenschläger: European banking supervision, global cooperation and challenges for banks
Presentation by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Board Meeting of the International Banking Federation, Berlin, 18 May 2017
- 15/05/2017
- Ignazio Angeloni: Common challenges for banks, regulators and supervisors
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, at the Adam Smith Society, Milan, 15 May 2017
- 15/05/2017
- Danièle Nouy: Regulation and supervision in Europe – can many cooks make a good broth?
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the “Banking Union Conference” organised by the Institute for Law and Finance (ILF) of Goethe University together with Freshfields Bruckhaus Deringer, Frankfurt am Main, 15 May 2017
- 04/05/2017
- Sabine Lautenschläger: Some supervisory expectations for banks relocating to the euro area
Introductory remarks by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, Technical workshop for banks considering relocation in the context of Brexit, Frankfurt am Main, 4 May 2017
- 02/05/2017
- Danièle Nouy: Banking union – safe and sound finance for Europe
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the RZB EU Sky Talk, Vienna, 2 May 2017
- 02/05/2017
- Danièle Nouy: Risk and capital – a balancing act
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the Austrian Chamber of Commerce, Vienna, 2 May 2017
- 25/04/2017
- Danièle Nouy: Public hearing on "Updating CRR, CRD, BRRD and SRMR: the new banking legislation package" in the ECON Committee of the European Parliament
Introductory statement by Danièle Nouy, Chair of the Supervisory Board of the ECB, Brussels, 25 April 2017
- 31/03/2017
- Ignazio Angeloni: ECB Banking Supervision achievements and challenges (slides from the presentation)
Presentation by Ignazio Angeloni, Member of the Supervisory Board of the ECB, at the Prometeia conference “Europe: risks and opportunities”, Bologna, 31 March 2017
- 27/03/2017
- Sabine Lautenschläger, Danièle Nouy: Introductory statement to the press conference on the ECB Annual Report on supervisory activities 2016 (with Q&A)
Danièle Nouy, Chair of the Supervisory Board of the ECB, and Sabine Lautenschläger, Vice-Chair of the Supervisory Board of the ECB, Frankfurt am Main, 27 March 2017
- 27/03/2017
- Sabine Lautenschläger: Digital na(t)ive? Fintechs and the future of banking
Statement by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at an ECB Fintech Workshop, Frankfurt, 27 March 2017
- 24/03/2017
- Ignazio Angeloni: 60 years on: promoting European integration in the banking union
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, at the Università Bocconi, Milan, 24 March 2017
- 23/03/2017
- Sabine Lautenschläger: Taming the fire
Statement by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Credit Risk 2017 forum, Vienna, 23 March 2017
- 23/03/2017
- Danièle Nouy: Presentation of the ECB Annual Report on supervisory activities 2016 to the European Parliament's Economic and Monetary Affairs Committee
Introductory statement by Danièle Nouy, Chair of the Supervisory Board of the ECB, Brussels, 23 March 2017
- 22/03/2017
- Sabine Lautenschläger: Caution should be the life of banking
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the AFME Board Meeting in Frankfurt, 22 March 2017
- 17/03/2017
- Ignazio Angeloni: Systemic risk mitigation: the roles of capital and corporate governance
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, Conference on “Banks, Systemic Risk, Measurement and Mitigation”, Panel on: “Systemic risk mitigation; is capital enough? The crucial role of corporate governance”, Università La Sapienza, Rome, 17 March 2017
- 13/03/2017
- Sabine Lautenschläger: Walled off? Banking regulation after the crisis
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Institute of International and European Affairs, Dublin, 13 March 2017
- 02/03/2017
- Sabine Lautenschläger: The European banking sector - growing together and growing apart
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the LSE German Symposium, London, 2 March 2017
- 02/02/2017
- Julie Dickson: International and European Experience on Regulation, Supervision, and Resolution of Cross-Border Banks (slides from presentation)
Speech by Julie Dickson, Member of the Supervisory Board of the ECB, in a session at a high-level conference on Cross-Border Banking and Regulatory Reforms: What Africa Can Learn from International Experience jointly organised by the IMF/BCS and AfDB, Mauritius, 2 February 2017
- 02/02/2017
- Ignazio Angeloni: Faraway or close? Supervisors and central bankers
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, Halle Institute for Economic Research (IWH), Halle, 2 February 2017
- 25/01/2017
- Danièle Nouy: New Year's resolutions for a stable banking sector
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the European banking supervision and European Banking Federation boardroom dialogue, Frankfurt, 25 January 2017
- 18/01/2017
- Danièle Nouy: European banking supervision - a necessary innovation
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the WHU New Year's Conference, Koblenz, 18 January 2017
- 28/11/2016
- Julie Dickson: Dealing with diversity - the European banking sector
Speech by Julie Dickson, Member of the Supervisory Board of the ECB, at the 17th Handelsblatt Annual Conference on European Banking Regulation, Frankfurt am Main, 28 November 2016
- 21/11/2016
- Danièle Nouy: The European banking sector: New rules, new supervisors, new challenges (slides from the presentation)
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at Universita Sapienza di Roma, Rome, 21 November 2016
- 16/11/2016
- Danièle Nouy: Remarks at the opening of the Frankfurt office of the Spanish Banking Association
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the opening of the Frankfurt office of the Spanish Banking Association, Frankfurt am Main, 16 November 2016
- 15/11/2016
- Danièle Nouy: Times they are a-changin' - the “new normal” and what it means for banks and supervisors
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at a Deutsche Bundesbank reception, Frankfurt am Main, 15 November 2016
- 15/11/2016
- Sabine Lautenschläger: The European banking sector - a quick pulse check
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at a Euro Finance Week Conference, Frankfurt am Main, 15 November 2016
- 09/11/2016
- Danièle Nouy: Second ordinary hearing in 2016 of the Chair of the ECB's Supervisory Board at the European Parliament's Economic and Monetary Affairs Committee
Introductory statement by Danièle Nouy, Chair of the Supervisory Board of the ECB, Brussels, 9 November 2016
- 07/11/2016
- Sabine Lautenschläger: Two years and three days of European banking supervision - what has changed?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, Banking and Corporate Evening of the Deutsche Bundesbank's Regional Office in Bavaria, Munich, 7 November 2016
- 04/11/2016
- Ignazio Angeloni: A trans-Atlantic banking divide? (slides from the presentation)
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, at the 19th Annual International Banking Conference, Chicago, 4 November 2016
- 24/10/2016
- Danièle Nouy: Safe and sound banks for a strong economy - The benefits and challenges of European banking supervision (slides from the presentation)
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the 2016 Banking Conference, Bocconi University, Milan, 24 October 2016
- 19/10/2016
- Danièle Nouy: The shifting ground of banking - A supervisor's perspective
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the European Financial Round Table, Frankfurt am Main, 19 October 2016
- 06/10/2016
- Ignazio Angeloni: Challenges facing the Single Supervisory Mechanism
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, at De Nederlandsche Bank's ‘Netherlands Day', Amsterdam, 6 October 2016
- 26/09/2016
- Ignazio Angeloni: Euro area banks after the 2016 Stress Test (slides from the presentation)
Speech by Ignazio Angeloni, member of the Supervisory Board of the European Central Bank, at the Conference on “The Strengths and Weaknesses of European Banking”, Imperial College, London, 26 September 2016
- 13/09/2016
- Sabine Lautenschläger: Monetary policy in uncertain times - the ECB and the crisis
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, Parliamentary evening in Strasbourg, 13 September 2016
- 07/09/2016
- Danièle Nouy: The European banking sector in 2016: living in interesting times
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at the Eurofi Financial Forum, Bratislava, 7 September 2016
- 07/07/2016
- Sabine Lautenschläger: European Banking Supervision - Business model analysis
Presentation by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the CEO/CFO/CRO-Roundtable, Madrid, 7 July 2016
- 06/07/2016
- Danièle Nouy: Concluding Remarks at the 2016 ECB Statistics Conference
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, Frankfurt am Main, 6 July 2016
- 05/07/2016
- Sabine Lautenschläger: Central bank statistics: moving beyond the aggregates
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the Eighth ECB Statistics Conference, Frankfurt am Main, 5 July 2016
- 04/07/2016
- Ignazio Angeloni: Bank Competition and Bank Supervision
Speech by Ignazio Angeloni, Member of the ECB Supervisory Board, at CaixaBank, Barcelona, 4 July 2016
- 23/06/2016
- Danièle Nouy: Enhanced dialogue between Boards and Supervisors: Towards a sound governance framework
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at the SSM Conference on governance and risk appetite, Frankfurt am Main, 23 June 2016
- 20/06/2016
- Sabine Lautenschläger: Sponsors dinner of the European Cultural Days
Dinner speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, on the occasion of a get-together of friends and supporters of the European Cultural Days organised in cooperation with Deutsche Bundesbank, Frankfurt am Main, 20 June 2016
- 13/06/2016
- Danièle Nouy: First ordinary hearing in 2016 of the Chair of the ECB's Supervisory Board at the European Parliament's Economic and Monetary Affairs Committee
Introductory statement by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, Brussels, 13 June 2016
- 07/06/2016
- Ignazio Angeloni: European banks and the banking union
Remarks by Ignazio Angeloni, Member of the ECB's Supervisory Board, at the European American Economic Forum organised by Euronext and the European American Chamber of Commerce, New York, 7 June 2016
- 01/06/2016
- Sabine Lautenschläger: European banking supervision - much achieved, but still much to do
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, Bundesbanksymposium "Dialogue on banking supervision", Frankfurt am Main, 1 June 2016
- 26/05/2016
- Ignazio Angeloni: The Single Supervisory Mechanism - the fast-changing landscape of traditional banking models
Remarks by Ignazio Angeloni, Member of the ECB's Supervisory Board, FinanceMalta 9th Annual Conference 2016, Malta, 26 May 2016
- 17/05/2016
- Danièle Nouy: The new world of banking - charting the territory
Speech by Danièle Nouy, Chair of the ECB's Supervisory Board, at a joint conference of tvi24 and the Associação Portuguesa de Bancos, Lisbon, 17 May 2016
- 03/05/2016
- Ignazio Angeloni: Introductory remarks
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, Fact-finding inquiry into the conditions of the Italian banking and financial system and the safeguarding of savings, also with reference to supervision, crisis management and European deposit insurance, Rome, 3 May 2016
- 02/05/2016
- Sabine Lautenschläger: The euro - idea and reality
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the Europa Forum Luzern, Luzern, 2 May 2016
- 06/04/2016
- Danièle Nouy: Adjusting to new realities - banking regulation and supervision in Europe
Speech by Danièle Nouy, Chair of the ECB's Supervisory Board, at the European Banking Federation's SSM Forum, Frankfurt, 6 April 2016
- 23/03/2016
- Sabine Lautenschläger, Danièle Nouy: Introductory statement to the press conference on the ECB Annual Report on supervisory activities 2015 (with Q&A)
Danièle Nouy, Chair of the ECB's Supervisory Board, and Sabine Lautenschläger, Vice-Chair of the ECB's Supervisory Board, Frankfurt am Main, 23 March 2016
- 22/03/2016
- Danièle Nouy: Presentation of the ECB Annual Report on supervisory activities 2015 in the ECON Committee of the European Parliament
Introductory statement by Danièle Nouy, Chair of the ECB's Supervisory Board, Brussels, 22 March 2016
- 14/03/2016
- Danièle Nouy: European Banking Supervision - The why, the how, the what (slides from the presentation)
Speech by Danièle Nouy, Chair of the ECB's Supervisory Board, at Baden-Badener Unternehmergespräche, Baden-Baden, 14 March 2016
- 09/03/2016
- Ignazio Angeloni: Banking union and the United Kingdom in the Single Market
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, Barclays Annual Bank Capital Conference, London, 9 March 2016
- 01/03/2016
- Sabine Lautenschläger: Navigating uncertainty - governance, risk management and leveraged finance
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the ECB's Supervisory Board, at the 17th Annual Risk Management Convention by the Global Association of Risk Professionals, 1 March 2016, New York
- 23/02/2016
- Danièle Nouy: Risks and resilience - the European banking sector in 2016
Speech by Danièle Nouy, Chair of the ECB's Supervisory Board, Deutsche Bank - Bank Capital Forum, London, 23 February 2016
- 22/02/2016
- Sabine Lautenschläger: Caught in the middle? Small and medium-sized banks and European banking supervision
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the ECB's Supervisory Board, at the Banking Evening of the Deutsche Bundesbank Regional Office in Baden-Württemberg, Stuttgart, 22 February 2016
- 16/02/2016
- Danièle Nouy: Introductory statement to the panel discussion at the ECON Committee of the European Parliament
Speech by Danièle Nouy, Chair of the Supervisory Board of the European Central Bank, Brussels, 16 February 2016
- 04/02/2016
- Ignazio Angeloni: Macroprudential policies to contain systemic risks
Keynote speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, SUERF/Deutsche Bundesbank/IMFS Conference on “The SSM at 1”, Deutsche Bundesbank, Frankfurt am Main, 4 February 2016
- 28/01/2016
- Luc Coene: Supervisory reforms in Europe (slides from the presentation)
Speech by Luc Coene, ECB Member of the Supervisory Board, at the event “Impact of regulatory and supervisory reform on the banking sector” organised by Bruegel in Brussels, 28 January 2016
- 27/01/2016
- Sabine Lautenschläger: Single Supervisory Mechanism - Single Supervisory Law?
Keynote speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Workshop of the European Banking Institute (EBI) hosted by the ECB, Frankfurt, 27 January 2016
- 13/01/2016
- Sabine Lautenschläger: After one year of European banking supervision, have expectations been met?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the Austrian Bankers' Business Lunch, Frankfurt, 13 January 2016
- 12/01/2016
- Sabine Lautenschläger: Einheitlicher Aufsichtsmechanismus. Das erste Jahr - die ersten Erfolge (Präsentationsfolien)
Vortrag von Sabine Lautenschläger, Mitglied des Direktoriums der EZB und stellvertretende Vorsitzende des Aufsichtsgremiums des einheitlichen Aufsichtsmechanismus, Zonta Club Frankfurt am Main, 12. Januar 2016
- 09/12/2015
- Sabine Lautenschläger: Single Supervisory Mechanism - Achievements after one year
Presentation by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the Eleventh High-level Meeting for the Middle East & North Africa Region: Global Banking Standards and Regulatory and Supervisory Priorities, Abu Dhabi, 9 December 2015
- 27/11/2015
- Ignazio Angeloni: Challenges and priorities for the ECB banking supervision
Remarks by Ignazio Angeloni, Member of the Supervisory Board of the European Central Bank, Banking Union Conference, Banking & Payments Federation Ireland/Mazars, Dublin, 27 November 2015
Summary
In its first year in operation ECB Banking Supervision exceeded expectations, but work is underway to bring the single supervisor of the euro area to ever higher standards. Mr Angeloni emphasises that harmonisation of the way supervision is conducted across the euro area is key. Otherwise there cannot be a level playing field which enables fair competition, a precondition for growth and prosperity. In this context the ECB Supervisory Board has identified around 120 “options and national discretions” in Union law which can be exercised by a supervisor, for which a single approach has been agreed upon. In a public consultation ECB Banking Supervision is currently seeking comments from stakeholders on two documents, a Guide and a Regulation, in which this agreement is spelled out. Mr Angeloni encourages the banking community to submit questions and suggestions during this consultation, which ends on 16 December, using the contacts on the website of ECB Banking Supervision.
Regarding day-to-day supervision, Mr Angeloni explains that business models and profitability will be key priorities in 2016. Another priority is credit risk, considering that a number of institutional credit segments exhibit a persistent high stock of non-performing loans (NPLs). Other objectives are the fostering of comparability and the quality of internal models as well as capital adequacy. Governance and risk propensity will remain a priority in 2016. These priority areas for the SSM will be further refined and will eventually be published.
Mr Angeloni underscores the importance of transparency in the way supervision is conducted. Investor decisions need to be supported by adequate information on the returns and risks involved. Some knowledge of supervisory requirements can help in this respect. To that end, an appropriate degree of disclosure on the annual supervisory exercise known as Supervisory Review and Evaluation Process (SREP) could be helpful. So far, the SSM has disclosed a broad description of a common methodology for the SREP in its Guide to Banking Supervision. Going forward, as the SREP methodology becomes more established, steps towards greater transparency will be possible.
- 24/11/2015
- Danièle Nouy: The Single Supervisory Mechanism after one year: the state of play and the challenges ahead
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, Banca d'Italia conference “Micro and macroprudential banking supervision in the euro area”, at the Università Cattolica, Milan, 24 November 2015
- 23/11/2015
- Sabine Lautenschläger: Stormy times - how is the ECB handling them?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory at the 2015 - General Assembly of the Bavarian Economic Advisory Committee, Munich, 23 November 2015
- 23/11/2015
- Danièle Nouy: Towards a New Age of Responsibility in Banking and Finance: Getting the Culture and the Ethics Right
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at Goethe Universität in Frankfurt, 23 November 2015
- 18/11/2015
- Sabine Lautenschläger: The SSM after one year
Keynote speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the IIF Colloquium on European Banking Union, Frankfurt, 18 November 2015
- 17/11/2015
- Sabine Lautenschläger: Qualitative and quantitative banking supervision
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the conference “Banking Supervision, Resolution and Risk Management” during the 18th Euro Finance Week 2015, Frankfurt, 17 November 2015
- 10/11/2015
- Danièle Nouy: European banking supervision after year one: what lies ahead?
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, Handelsblatt conference - European banking supervision, Frankfurt am Main, 10 November 2015
- 04/11/2015
- Sabine Lautenschläger: Looking ahead - Closing Remarks at the ECB Forum on Banking Supervision
Closing remarks by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the SSM Banking Supervision Forum, 4 November 2015
- 04/11/2015
- Danièle Nouy: Introductory remarks
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at the ECB Forum on Banking Supervision, Frankfurt, 4 November 2015
- 02/11/2015
- Sabine Lautenschläger: One year of SSM
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at an international conference on "One year of SSM effective and efficient supervision in a volatile world?" organised by the Institute of Law and Finance, Frankfurt, Germany, 2 November 2015
- 21/10/2015
- Danièle Nouy: The banking union, one year on
Introductory remarks by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at the Center for European Reform, London, 21 October 2015
- 19/10/2015
- Danièle Nouy: Second ordinary hearing in 2015 of the Chair of the ECB's Supervisory Board at the European Parliament's Economic and Monetary Affairs Committee
Introductory statement by Danièle Nouy, Chair of the Supervisory Board of the ECB, Brussels, 19 October 2015
- 14/10/2015
- Ignazio Angeloni: Intervention at the opening of the Frankfurt office of the EBF
Intervention by Ignazio Angeloni, Frankfurt am Main, 14 October 2015
- 01/10/2015
- Danièle Nouy: A year of the SSM - résumé and outlook
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at the ESE (European Supervisor Education Initiative) Conference 2015 "Financial supervision in Europe - on the right track?" hosted by Czech National Bank, Prague, 1 October 2015
- 30/09/2015
- Ignazio Angeloni: Banking supervision and the SSM: five questions on which research can help
Speech by Ignazio Angeloni, Member of the Supervisory Board of the European Central Bank, at the Centre for Economic Policy Research's Financial Regulation Initiative Conference organised by Imperial College Business School/CEPR, Panel 1 “Banking Supervision and Regulation”, London, 30 September 2015
Summary
The SSM has been operating for 11 months and all national authorities contribute, but none is predominant. Three features of the SSM receive less attention than others: with the SSM the ECB has been given both micro- and macroprudential responsibilities; the coexistence of national and European components in the legal basis of the SSM is a source of asymmetry, which conflicts at times with a level-playing field; and the founding regulation of the SSM – the SSM Regulation – gives it extensive powers over the banks under its direct responsibility, covering all supervisory tasks.
Mr Angeloni then highlights five areas in which research could benefit supervisors. The first area concerns financial stability – how to define it and how to measure it. Good measures of financial stability remain elusive. In contrast to monetary policy, where an extensive literature on the definition and measurement of price stability exists, no quantified objective is available for supervisors. Financial stability is multidimensional and hard to enshrine in a single notion or measure.
The second area relates to how much capital should banks hold. Answers are required for how much capital is needed in “normal” conditions, how it depends on preferences and other factors, at what point capital should be considered excessive, and why. These dilemmas are routine for banking supervisors because of their responsibility in setting Pillar 2 requirements.
The third area concerns the diversification and optimal mix of capital. As hybrid instruments are inherently complex, their use may add uncertainty to the financial system. The question is whether the additional complexity is outweighed by benefits in terms of added flexibility, better incentive structure, or lower costs.
Another question relates to what role there is for other prudential requirements. A framework is needed on how liquidity and capital requirements interact. In principle, the distinction between insolvency and temporary cash shortages is clear; but in practice, it is blurred because temporary illiquidity may lead to premature asset liquidation in stressed market conditions, and hence to losses.
A final question has to do with where – specifically, in which sub-entity of a banking group – should capital and liquidity be located. For the SSM, the problem is important because of the presence of large cross-border groups. The SSM has launched a project on harmonising national options and discretions in the CRD IV and CRR, which will increase the flexibility to manage capital and liquidity for banking groups, while still respecting basic prudential requirements.
Mr Angeloni concludes that some of these issues are very complex, and that understanding is still incomplete and evolving; which is why more research is needed.
- 29/09/2015
- Luc Coene: The future of regulation in Europe
Speech by Luc Coene, ECB representative to the Supervisory Board of the ECB, at the Deloitte Global Financial Services Networking Meeting, Dublin, 29 September 2015
- 28/09/2015
- Sabine Lautenschläger: Reintegrating the banking sector into society: earning and re-establishing trust
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the 7th International Banking Conference “Tomorrow's bank business model - How far are we from the new equilibrium” organised by Bocconi University in Milan, 28 September 2015
- 24/09/2015
- Julie Dickson: The relevance of the supervision of behaviour and culture to the SSM
Speech by Julie Dickson, Member of the Supervisory Board of the European Central Bank, at the conference "Looking forward: effective supervision of behaviour and culture at financial institutions" in the Tropenmuseum and organised by De Nederlandsche Bank, Amsterdam, 24 September 2015
Summary
Julie Dickson gives a keynote address at De Nederlandsche Bank (DNB) in Amsterdam. At a conference focussed on supervision of behaviour and culture at financial institutions, she says that DNB has taken a leading role in emphasising the role of behaviour and culture in financial institutions.
Ms Dickson then explains the importance the Single Supervisory Mechanism (SSM) places on corporate governance, noting that a key priority in 2015 was a thematic review on risk governance and risk appetite in the 123 banks directly supervised by the SSM which, she confirms, is now close to completion. She says the review is providing valuable insights, which are important for this year’s Supervisory Review and Evaluation Process process; and also for providing a basis for planning next year’s supervisory cycle.
She points out that the review has been a new experience for many banks, some of which are not used to answering the kind of questions the SSM is asking, such as why boards believe their risk appetite framework is appropriate, or why they believe the information they are getting from their management teams is appropriate. She says the review also touches on incentives, by asking questions regarding the consequences for employees within an institution of not respecting the risk appetite framework and by exploring whether the risk appetite framework encouraged the desired risk-taking behaviour.
She says that though the review is an initial one, over time, as its knowledge of each bank grows, it is to be expected that such assessments by the SSM will go deeper.
She then underlines the huge opportunities that bringing together supervisors of 19 different countries can offer and notes that the SSM is consulting the DNB to explore how to make optimum use of their staff and to better understand their approach.
She also speaks about the ECB’s position on supervisory participation in regular bank board meetings. She says that the ECB’s current view is that supervisors should meet with boards as needed to deliver supervisory messages, and may also attend part of a board meeting from time to time to watch and to see what information is being provided and what questions are being asked; but that it will not attend as a general rule.
Finally, she touches upon the challenges confronting the ECB in its work to harmonise differing transpositions of the Capital Requirements Directive. She says that when the ECB has to assess the suitability of new bank board members, it is confronted with very diverse national rules and practices. And that although it can go some way towards harmonising rules on suitability of the management body, it cannot harmonise specific items laid down in national law. She says that in areas like fit and proper assessments, it is therefore not easy to spread best practices across the 19 SSM countries. And that the ECB is seeking more changes to bank regulation in Europe.
- 22/09/2015
- Danièle Nouy: The role of internal control and internal audit
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at the European Confederation of Institutes of Internal Auditing (ECIIA) conference, Paris, 22 September 2015
- 15/09/2015
- Danièle Nouy: Safety and progress: an SSM perspective
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at the FMA supervisory conference entitled “Safety and progress in financial markets - a contradiction?”, Vienna, 15 September 2015
Summary
Daniele Nouy, Chair of the Supervisory Board of the ECB, speaks to an audience at the Austrian Financial Market Authority’s Supervisory conference in Vienna on the theme of safety and progress in finance and banking supervision.
Ms Nouy explains how the Single Supervisory Mechanism (SSM) has a clear mission to ensure the safety and soundness of banks, and to contribute to the financial integration of the euro area.
She highlights the innovative aspects of the SSM as an organisation, pointing to the SSM and the SSM Regulation as key advances. Then she focuses on the substance of the work the SSM is undertaking to harmonise the different supervisory options and discretions (ONDs) available to banks and supervisors at national level. She points out that the SSM can only be a credible provider of safety and progress, if its actions are supported by structural initiatives at both the European and national level.
She says that SSM combines a bank-specific approach with a cross-sector view and has a better knowledge of how banks are linked to the rest of the financial system, drawing also upon the excellent analysis prepared in other units of the ECB while respecting the separation principle between supervisory tasks and monetary policy.
She stresses that supervised banks should be subject to consistent prudential requirements based on their inner characteristics regardless of where their business is located. Ultimately, equivalent economic and financial conditions must receive the same regulatory and supervisory treatment.
She says that approximately eight months after the start of a project to tackle options and national discretions, the Supervisory Board of the ECB adopted in mid-July a policy package on close to 100 ONDs. This policy package is being translated into a legal package, composed of an ECB regulation for general ONDs, and internal guidance laying down stances and specifications for case-by-case ONDs. Ms Nouy adds that the resulting draft regulation will be subject to a public consultation, to be launched at the beginning of November.
As a supervisor, she says the SSM’s most valuable contribution to economic growth is to do its job: by implementing regulation consistently, by closely monitoring supervised institutions in a forward-looking, risk-based and proportionate way, and by taking timely and determined action when needed.
She says that the SSM wants safety and progress to serve sustainable growth and that the SSM helps in creating the right environment for it, fostering intense competition, but on fair grounds, encouraging risk-taking, but in a transparent and responsible manner, and ensuring financial stability, but not at the expense of taxpayers. This, she concludes, is the SSM’s contribution to the well-being of the people of Europe.
- 11/09/2015
- Danièle Nouy: European Banking Supervision: Levelling the playing field
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at Corporate Program Roundtable organised by the Council on Foreign Relations, New York, 11 September 2015
- 01/09/2015
- Julie Dickson: Will the Eurozone caucus on financial regulation?
Speech by Julie Dickson, Member of the Supervisory Board of the European Central Bank, at a lunch discussion organised by the Centre for European Reform, Morgan Stanley, London, 1 September 2015
Summary
The implementation of rules by supervisors matters just as much as the rules themselves, Julie Dickson, member of the Supervisory Board of the ECB, tells an audience in London at an event organised by the Centre for European Reform.
She highlights that the emphasis being placed by the ECB on the quality of supervision in Europe is refreshing and that the day to day efforts of supervisors in addressing bank risks are key to contributing to the safety and soundness of credit institutions and the stability of the financial system.
She points to four key areas of focus: the ECB’s aim for consistent supervisory practice in the area of non performing loan recognition, coverage and write-offs; conducting a public consultation in the autumn to work towards harmonising over 150 options and national discretions available at national level; the unified application of the 2015 supervisory review and evaluation process methodology which she says, will become more robust over time as the ECB’s knowledge of the banks it supervises increases; and finally a targeted review of internal models at banks that will aim to ensure that capital held reflects underlying risks - a task she says is complex and will take several years to complete.
Ms Dickson also acknowledges that improving the quality and consistency of supervision requires not just supervisory convergence but also convergence on European bank regulation. She identifies areas where harmonising some approaches hold more challenges than others. In the area of consistently applying fit and proper requirements for members of the banks’ boards and senior management, she says the ECB is confronted with very different national rules and practices. She also cites a German draft law on banking regulation that delegates to the German Federal Ministry of Finance certain competences to issue regulations which would replace the administrative guidelines issued by the competent German authority, BaFin. She emphasises that if such practices increase, the harmonisation and the establishment of uniform conditions would be hampered significantly.
She concludes that through the Single Supervisory Mechanism, Europe is moving quickly to harmonise supervisory approaches. ‘The ECB is taking banking supervision very seriously’, she concludes. ‘It’s a challenging, full time job and we’re doing everything possible to make banking union a success.’
- 26/06/2015
- Danièle Nouy: Tommaso Padoa-Schioppa Memorial Lecture
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism
- 25/06/2015
- Danièle Nouy: First ordinary hearing in 2015 of the Chair of the ECB's Supervisory Board at the European Parliament's Economic and Monetary Affairs Committee
Introductory remarks by Danièle Nouy, Chair of the Supervisory Board of the ECB, Brussels, 25 June 2015
- 23/06/2015
- Ignazio Angeloni: Exchange of views on supervisory issues with the Finance and Treasury Committee of the Senate of the Republic of Italy
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, Rome, 23 June 2015
- 09/06/2015
- Danièle Nouy: Stable financial markets, stable Europe
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at the Economic Council in Berlin, 9 June 2015
- 27/04/2015
- Danièle Nouy: The banking union and financial integration
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism at the Joint conference of the European Commission and European Central Bank on “European Financial Integration and Stability”, 27 April 2015, Brussels
- 23/04/2015
- Ignazio Angeloni: Rethinking banking supervision and the SSM perspective
Speech by Ignazio Angeloni, Member of the Supervisory Board of the European Central Bank, Conference on “The new financial architecture in the Eurozone”, European University Institute, Fiesole, 23 April 2015
- 21/04/2015
- Sabine Lautenschläger: Monitoring, regulation and self-regulation in the European banking sector
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the evening reception at the Deutsche Aktieninstitut in Frankfurt am Main, 21 April 2015.
- 20/04/2015
- Ignazio Angeloni: Towards a macro-prudential framework for the single supervisory area
Remarks by Ignazio Angeloni, Member of the Supervisory Board of the European Central Bank, Belgium Financial Forum, Brussels, 20 April 2015
- 17/04/2015
- Ignazio Angeloni: The SSM and international supervisory cooperation
Remarks by Ignazio Angeloni, Member of the Supervisory Board of the European Central Bank, at the Symposium on “Building the Financial System of the 21st Century: an Agenda for Europe and the US”, Eltville, 16 April 2015
- 31/03/2015
- Danièle Nouy: Presentation of the first ECB annual report on supervisory activities by the Chair of the ECB's Supervisory Board at the European Parliament's Economic and Monetary Affairs Committee
Introductory remarks by Danièle Nouy, Chair of the Supervisory Board of the ECB, Brussels, 31 March 2015
- 17/03/2015
- Danièle Nouy: The European banking landscape - initial conclusions after four months of joint banking supervision and the main challenges ahead
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at the SZ Finance Day 2015, Frankfurt am Main, 17 March 2015
- 16/03/2015
- Sabine Lautenschläger: How can prudential regulation foster growth?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at Frankfurt Finance Summit, Frankfurt am Main, 16 March 2015
Summary
Supervisors can contribute to sustainable economic growth by ensuring that supervised entities are resilient to plausible shocks, properly managed, adequately capitalised and subject to an efficient risk management and the right incentives. The European Single Supervisory Mechanism takes a medium to long-term perspective on this, resisting those who argue for short-term relief. The SSM ensures that banks can deliver in their tasks in all phases of the economic cycle and thus are able to provide the economy with the financial services that corporations, smaller firms and citizens need.
- 27/01/2015
- Ignazio Angeloni: Transparency and banking supervision
Remarks by Ignazio Angeloni, Member of the Supervisory Board of the European Central Bank at the ICMA Capital Market Lecture Series, Frankfurt am Main, 27 January 2015
- 20/11/2014
- Danièle Nouy: Marking the inauguration of the ECB's new supervisory responsibilities
Keynote speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at the inauguration of the European Central Bank's new supervisory responsibilities, Frankfurt am Main, 20 November 2014
Summary
Speaking at the Inauguration of the European Central Bank’s new supervisory responsibilities, Danièle Nouy, Chair of the Supervisory Board of the ECB, reflected on the origins of the Single Supervisory Mechanism, which she traced back to the hard lessons learned from the global financial crisis. She also commented on the unprecedented undertaking of setting up a new supervisory system in less than a year, while simultaneously conducting the comprehensive assessment. Ms Nouy stated that “the ECB was a perfect and natural home. No other institution could have offered better support for the creation of the SSM”.
Describing the SSM as the first supervisor “with a truly European mandate, which will impact the way we supervise the banking sector”, Ms Nouy argued that its set-up would allow for more benchmarking and peer comparisons. Ms Nouy then highlighted the need to address macro-prudential risks from a system-wide perspective. She noted that all of the moves to converge supervisory practices, such as the new Joint Supervisory Teams (JSTs) who base their supervisory decisions on the single European rulebook, would make little sense if the regulatory environment remained fragmented.
Looking ahead, the Chair of the European banking supervisory system called for reducing national discrepancies and pointed to the now famous report by Jacques de Larosière from 2009 in which he called for aligning financial regulation. “Our priority will be to tackle the most controversial national options, for instance regarding the definition of capital”, Ms Nouy added, before concluding that it was now time to focus on making this new system operate effectively to deliver supervision that is “tough and thorough”.
- 18/11/2014
- Sabine Lautenschläger: Start of the Single Supervisory Mechanism: from the comprehensive assessment to day-to-day supervision
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, at the Euro Finance Week, Frankfurt, 18 November 2014
- 13/11/2014
- Sabine Lautenschläger: The interplay between macro-prudential, micro-prudential and monetary policies at the ECB (slides from the presentation)
Presentation by Sabine Lautenschläger, Member of the Executive Board of the ECB, at the conference “Macroprudential policy: Implementation and Interaction with other Policies” jointly organised by Sveriges Riksbank and the IMF in Stockholm, 13 November 2014
- 10/11/2014
- Ignazio Angeloni: The SSM sails past the starting line: Seeking high-quality supervision and level playing field
Remarks by Ignazio Angeloni, Member of the Supervisory Board of the European Central Bank, International conference on “Start of European Banking Union: Perspectives and Challenges” London School of Economics and Political Science, London, 10 November 2014
- 03/11/2014
- Danièle Nouy: Regular Hearing of the Chair of the ECB's Supervisory Board at the European Parliament's Economic and Monetary Affairs Committee
Introductory remarks by Danièle Nouy, Chair of the Supervisory Board of the ECB, Brussels, 3 November 2014
- 31/10/2014
- Ignazio Angeloni: Countdown to the start of the SSM
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, Conference on “El comienzo de la Supervisión Bancaria Europea” - Organised by KPMG and CUNEF - Collegio Universitario de Estudios Financieros, Madrid, 31 October 2014
- 26/10/2014
- Vítor Constâncio, Danièle Nouy: Transcript of the comprehensive assessment press conference (with Q&A)
Vítor Constâncio, Vice-President of the ECB and Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism (SSM), Frankfurt am Main, 26 October 2014
- 15/10/2014
- Danièle Nouy: Concluding remarks
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, Seventh ECB Statistics Conference “Towards the banking Union. Opportunities and challenges for statistics”, Frankfurt am Main, 15 October 2014
- 30/09/2014
- Sabine Lautenschläger: National supervision in a European system: What is the new balance?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, Fifth FMA supervisory conference, Vienna, 30 September 2014
- 26/09/2014
- Ignazio Angeloni: Ethics in finance: a banking supervisory perspective
Remarks by Ignazio Angeloni, Member of the Supervisory Board of the ECB, Conference on “The New Financial Regulatory System: Challenges and Consequences for the Financial Sector”, Venice, 26 September 2014
- 01/08/2014
- Ignazio Angeloni: Stress-testing banks: are econometric models growing young again?
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, at the Inaugural Conference for the Program on Financial Stability, School of Management, Yale University, 1 August 2014
- 23/06/2014
- Danièle Nouy: Single Supervisory Mechanism - Opportunities and Challenges
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the Irish Banking Federation's Banking Union Conference, Dublin, 23 June 2014
- 18/06/2014
- Ignazio Angeloni: Savings banks in the European banking landscape
Speech by Ignazio Angeloni, Member of the Supervisory Board of the ECB, at the Financial Meeting of the Confederación Española de Cajas de Ahorros, Madrid, 18 June 2014
- 05/06/2014
- Danièle Nouy: Launch of the SSM - what will change in banking supervision and what are the imminent impacts on the banking sector?
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the Third FIN-FSA Conference on EU Regulation and Supervision, Helsinki, 5 June 2014
- 03/06/2014
- Danièle Nouy: Regulatory and financial reporting essential for effective banking supervision and financial stability
Dinner speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, Fourth ECB conference on accounting, financial reporting and corporate governance for central banks, Frankfurt am Main, 3 June 2014
- 23/05/2014
- Sabine Lautenschläger: Making the comprehensive assessment a success
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, at the Expansión - 5th Financial Event, Madrid, 23 May 2014
- 12/05/2014
- Danièle Nouy: Toward the European Banking Union: achievements and challenges
Speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, at the OeNB Economics Conference, Vienna, 12 May 2014
- 18/03/2014
- Danièle Nouy: Hearing at the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Danièle Nouy, chair of the Supervisory Board, Single Supervisory Mechanism, ECB, Brussels, 18 March 2014
- 03/02/2014
- Sabine Lautenschläger: Confirmation hearing for the Vice-Chair of the SSM Supervisory Board
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, Strasbourg, 3 February 2014
