Keynote speech by Sharon Donnery, Member of the Supervisory Board of the ECB, at the Handelsblatt Jahrestagung Bankenaufsicht

Speech by Claudia Buch, Chair of the Supervisory Board of the ECB, The Brookings Institution

Introductory remarks by Sharon Donnery, Member of the Supervisory Board of the ECB, at the Institute of International Finance

Keynote speech by Sharon Donnery, Member of the Supervisory Board of the ECB, at the Delphi Economic Forum X

Speech by Claudia Buch, Chair of the Supervisory Board of the ECB, Warsaw School of Economics

Interview with Claudia Buch, Chair of the Supervisory Board of the ECB, conducted by Nicholas Comfort and Laura Noonan on 9 April 2025

Interview with Anneli Tuominen, Member of the Supervisory Board of the ECB, for the Eurofi Magazine

Article by Patrick Montagner, Member of the Supervisory Board of the ECB, for Eurofi Magazine

Article by Patrick Montagner, Member of the Supervisory Board of the ECB, for Eurofi Magazine

Interview with Frank Elderson, conducted by NVDE

As the normalisation of the Eurosystem balance sheet progresses, the aggregate amount of central bank liquidity available to banks in the euro area will fall over the coming years. This blog explains the role played by the Eurosystem’s refinancing operations within the operational framework for monetary policy implementation. The ECB, both as a monetary policy authority and as a supervisor, expects that banks should consider these operations as an integral part of their day-to-day liquidity management.

Maintaining adequate levels of capital allows banks to provide stable financial services to the real economy and absorb losses in difficult times. This is why European law sets minimum capital requirements that all banks must meet. But banks also face risks that are not covered by these Pillar 1 requirements. This blog post explains how the ECB addresses these risks through its Pillar 2 requirements, and how we are changing our approach to ensure that banks remain safe and sound in an evolving risk landscape.

Stress tests are of crucial importance to assess banks’ resilience under adverse economic conditions. In previous stress tests, however, some banks submitted overly optimistic projections. Despite thorough quality assurance by supervisors, this behaviour makes it more likely that the risks some banks face are underestimated. To address this, we are now taking a closer look at insufficiently prudent projection submissions. In line with our supervisory focus on banks’ risk data aggregation and reporting capabilities, we are also looking more closely at poor data quality issues in stress tests.

Digitalisation is leading to efficiency gains for banks and improved services for their customers, but it is also bringing threats to operational resilience in the financial sector into sharper focus. The EU has developed a new regulation to keep these digital threats in check, that applies as of today. This blog post discusses how the new regulation makes the financial sector more resilient and outlines the implications for banks and their supervisors.

Our supervisory priorities for 2025-27 focus on strengthening banks’ ability to withstand macro-financial and geopolitical shocks, and on ensuring that banks remediate material and persistent shortcomings in a timely manner and address emerging challenges. In this blog post, we explain how these priorities will help European supervisors navigate the evolving risk landscape.