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We need to act faster and restructure the banking sector more deeply to avoid repeating past mistakes in dealing with bad loans, writes Supervisory Board Chair Andrea Enria. We also need an integrated European response. An asset management company could be the solution.
The crisis is likely to lead to seriously impaired bank balance sheets and asset quality, says Supervisory Board member Elizabeth McCaul. Surviving the crisis will require decisive management action, suitable board members and effective credit risk management.
With an uncertain near-term outlook, we need coordinated action to smoothen the eventual withdrawal of relief measures, says Supervisory Board member Kerstin af Jochnick. Banks should give supervisors a realistic picture of asset quality and capital, and tackle long-term challenges.
Keynote speech by Elizabeth McCaul, Member of the Supervisory Board of the ECB, at the Webinar for the presentation of the position paper on COVID-19 and Governance by the Italian Association of Financial Industry Risk Managers (AIFIRM) and Università La Sapienza
Keynote speech by Kerstin af Jochnick, Member of the Supervisory Board of the ECB, at the European Confederation of Institutes of Internal Auditing (ECIIA) Banking Forum
Speech by Pentti Hakkarainen, Member of the Supervisory Board of the ECB, at the European Banking Federation’s online conference on “Cyber security and resilience: the basis of it all in digital innovation”
Interview with Andrea Enria, Chair of the Supervisory Board of the ECB, by Yasmin Osman and Kathrin Jones, conducted on 5 October 2020 and published on 12 October 2020
Opinion piece by Yves Mersch, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, published in several European media outlets on 1 October 2020
Interview with Andrea Enria, Chair of the Supervisory Board of the ECB, conducted by Gillian Stedman on 24 September 2020 and published on 25 September 2020
By Andrea Enria, Chair of the Supervisory Board of the ECB, and Edouard Fernandez-Bollo, Member of the Supervisory Board of the ECB
Summary
We need to foster the integration of cross-border banking groups to ensure that timely liquidity support is provided within them, Andrea Enria and Edouard Fernandez-Bollo say in our latest blog post. To achieve this, recovery plans could be strengthened by using group support agreements.
By Andrea Enria, Chair of the Supervisory Board of the ECB
Summary
Euro area banks are resilient to the stress caused by the coronavirus crisis, our analysis shows. The assessment of the results justifies our decision to extend our dividend recommendation. Supervisory Board Chair Andrea Enria also clarifies the timeline for banks to replenish capital and liquidity buffers.
Blog post by Yves Mersch, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB
Summary
The ECB will continue to engage with all banks affected by Brexit to ensure that they achieve their target operating models in a timely manner, says Supervisory Board Vice-Chair Yves Mersch. We will not accept banks attempting to operate as empty shells.
Blog post by Kerstin af Jochnick, Member of the Supervisory Board of the ECB
Summary
How do we ensure that supervision remains effective during the crisis, and which aspects will be crucial in determining the shape of the EU banking sector in the medium term? These are the key questions supervisors must now answer, writes Supervisory Board member Kerstin af Jochnick.
Blog post by Édouard Fernandez-Bollo, Member of the Supervisory Board of the ECB
Summary
As the ECB publishes its draft Guide on consolidation in the banking sector, Supervisory Board member Edouard Fernandez-Bollo explains in his blog post the key aspects of how the ECB assesses consolidation projects involving euro area banks.
Our banking supervision portal is live! It offers a single point of access for external users to use our online services to initiate supervisory processes or exchange documents with ECB staff. Further services will be added as they become available.
