The importance of cyber resilience in protecting our banking sector cannot be overstated, writes Supervisory Board member Anneli Tuominen in a blog post. The results of our cyber resilience stress test show that banks have response and recovery frameworks in place, but areas for improvement remain. The results will inform banks’ annual health check for 2024. To learn more about the topic: ▶ Read the press release on the conclusion of the cyber resilience stress test https://lnkd.in/eFMnrZS5 ▶ Read the blog post by Anneli Tuominen https://lnkd.in/ezN28UyT
Europäische Zentralbank
Bankwesen
Frankfurt am Main, Hessen 495.311 Follower:innen
We are the central bank for the euro, Europe’s single currency. We work to keep prices stable and banks safe.
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Die Europäische Zentralbank (EZB) ist die Zentralbank der 20 Mitgliedstaaten der Europäischen Union, die den Euro eingeführt haben. Unsere vorrangige Aufgabe ist es, Preisstabilität im Euroraum zu gewährleisten und so die Kaufkraft der gemeinsamen Währung zu erhalten.
- Website
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http://www.ecb.europa.eu
Externer Link zu Europäische Zentralbank
- Branche
- Bankwesen
- Größe
- 1.001–5.000 Beschäftigte
- Hauptsitz
- Frankfurt am Main, Hessen
- Art
- Kapitalgesellschaft (AG, GmbH, UG etc.)
- Gegründet
- 1998
- Spezialgebiete
- Monetary policy, Banking supervision, Macroprudential policy, Financial stability und Market infrastructure & payments
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Primär
Sonnemannstrasse 20
Frankfurt am Main, Hessen 60314, DE
Beschäftigte von Europäische Zentralbank
Updates
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We expect inflation to return to our two percent target by the end of 2025, Executive Board member Isabel Schnabel tells Frankfurter Allgemeine Zeitung. But we need to remain vigilant and continuously cross-check incoming data with the assumptions underlying our projections. Read the interview https://lnkd.in/e4HVEn6a
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Our mandate is to ensure that banks are safe and sound, Supervisory Board Vice-Chair Frank Elderson tells Le Monde. To do so, we need to make sure that banks properly assess and manage all risks, whether related to cybersecurity, geopolitics or climate and nature. Read the interview https://lnkd.in/e6ffQT9S
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Recent history has shown how shortcomings in governance and risk culture are often the root cause of banks’ vulnerabilities. For banks to be well-run, they need to have a good governance in place, says Supervisory Board Vice-Chair Frank Elderson. While some banks have made good progress over the past ten years, others still have room and need for improvement. Because well-run banks mean safer banks, our guide on governance and risk culture brings together the key takeaways from a decade of supervision, clarifying our expectations and providing examples of good practices observed in banks across Europe. The guide is now open for public consultation. To learn more about the topic: ▶ Read the press release on the public consultation https://lnkd.in/g9pPPjh7 ▶ Read the Supervision Blog post by Frank Elderson https://lnkd.in/gxMJWr29
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Earlier this week we decided on monetary policy, determining what’s needed to return inflation to our 2% goal in a timely manner. Tune in to #TheECBPodcast to hear President Christine Lagarde present the decisions in our press conference https://lnkd.in/eJEhVN_C
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Today we kept our key interest rates unchanged. 🔹 Our rates are still high, helping push down inflation. 🔹 We expect inflation to return to our 2% target over the second half of next year, although there might be a few ups and downs before we get there. 🔹 Meanwhile, services are driving growth in the economy. People have more to spend because inflation is coming down and wages are going up. Swipe ⬅️ to learn more about our decisions and about what is going on in the economy.
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Our assessments of banks’ digitalisation activities found that banks have sound practices to assess both digital opportunities and risks, says Supervisory Board member Elizabeth McCaul. However, many banks can still improve by: ➡ outlining and executing adequate digitalisation strategies ➡ defining better granular key performance indicators to gauge, for example, the impact of digital strategies on profit and loss Read the blog post to find out more https://lnkd.in/gfj5w8rs Learn about the assessment of banks’ digitalisation activities https://lnkd.in/gsKHqjN9
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Risks from non-bank financial intermediaries (NBFIs) such as private equity and hedge funds can arise in a variety of ways, says Supervisory Board member Elizabeth McCaul. For example: ➡ via the correlation of exposures where risk can spill over from NBFIs to banks ➡ via hedging strategies being applied to the same exposures in both the regulated banking market and the NBFI market To manage risks from the NBFI sector, we need a clear view of the extent to which banks are exposed to NBFI balance sheet risk. Read the full interview https://lnkd.in/ggRYPJuv
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What challenges are facing the international financial system today? Klaas Knot, Chair of the Financial Stability Board (FSB), President of De Nederlandsche Bank and ECB Governing Council member, and Lesetja Kganyago, Governor of the South African Reserve Bank, discussed this topic at the 2024 #ECBForum on Central Banking in Sintra, Portugal. Listen to their conversation on this special episode of #TheECBPodcast https://lnkd.in/eeRemgEw
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The geopolitical environment is uncertain, with conflict even within Europe’s borders. But what does all this mean for the economy and for inflation? Our co-host Paul Gordon and Kiel Institute for the World Economy President Moritz Schularick discuss this question at the #ECBForum on Central Banking. Listen to our latest episode of #TheECBPodcast https://lnkd.in/d3icVYCB
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