SSM Speeches of the Chair

30/11/2017
Danièle Nouy: Introductory remarks to the public hearing on the draft addendum to the ECB guidance to banks on non-performing loans
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, and Sharon Donnery, Chair of the ECB’s High Level Group on NPLs, Frankfurt am Main, 30 November 2017
24/11/2017
Danièle Nouy: Progress and developments in European banking supervision
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, 18. Handelsblatt Jahrestagung on European Banking Regulation, Frankfurt, 24 November 2017
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14/11/2017
Danièle Nouy: Banking union – Forging a European banking market
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the Frankfurt 120 Round Table, Frankfurt am Main, 14 November 2017
09/11/2017
Danièle Nouy: Second 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, 9 November 2017
23/10/2017
Danièle Nouy: Everything is connected - the international dimension of banking regulation and supervision
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, King's College, London, 23 October 2017
18/10/2017
Danièle Nouy: Regulatory and supervisory responses in Europe to the current financial environment
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, High-level meeting on global and regional supervisory priorities, Basel, 18 October 2017
29/09/2017
Danièle Nouy: Banking union, three years on – has it lived up to its promises?
Statement by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the Single Resolution Board Conference, Brussels, 29 September 2017
27/09/2017
Danièle Nouy: Too much of a good thing? The need for consolidation in the European banking sector
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the VIII Financial Forum, Madrid, 27 September 2017
15/09/2017
Danièle Nouy: Gaming the rules or ruling the game? – How to deal with regulatory arbitrage
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the 33rd SUERF Colloquium, Helsinki, 15 September 2017
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06/09/2017
Danièle Nouy: A penny for your thoughts – what’s on the mind of a supervisor?
Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, at the Handelsblatt conference “Banken im Umbruch”, 6 September 2017
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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
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
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
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
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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
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
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
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
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
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
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
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
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
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
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
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
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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
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
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
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
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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
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
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
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
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
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.

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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
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
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
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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
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
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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”.

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
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
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
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
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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
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
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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