European Central Bank
ECBSpeech
Schnabel: Geopolitical shifts complicate ECB policy path
ECB Executive Board member Isabel Schnabel discussed the implications of geopolitical fragmentation for monetary policy at the University of Zurich on March 27, 2026.
Focus
ECBSpeech
ECB outlines euro area economic outlook with adverse scenarios
Philip R. Lane, Member of the Executive Board, presented the ECB's outlook for the euro area economy.
ECBPaper
Securities losses impact monetary policy transmission through bank collateral
A new ECB working paper demonstrates that losses on banks' securities portfolios significantly impact monetary policy transmission.
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ECBPaper
ECB paper highlights financial stability risks from synthetic risk transfers
A new European Central Bank working paper identifies three key risks to financial stability stemming from synthetic risk transfers (SRTs).
ECBDecoder
Digital euro offers banks new opportunities and strengthens European autonomy
The digital euro is presented as a strategic investment for European autonomy, monetary sovereignty, and financial resilience.
ECBPaper
ECB evaluates Consumer Expectations Survey pilot phase
The European Central Bank has published a first evaluation of its new Consumer Expectations Survey (CES).
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ECBPaper
Quantile model reveals non-linear tail risks in European corporate defaults
A new working paper from the European Central Bank introduces a Quantile Probability of Default (QPD) framework to measure sector-level corporate credit risk.
ECBPaper
DeFi governance concentration challenges regulatory oversight
A new ECB working paper reveals that governance in Decentralised Finance (DeFi) protocols is highly concentrated, challenging the implementation of effective regulation and supervision.
ECBPaper
Digital banks show stronger, faster monetary policy transmission
A new ECB working paper finds that digital banks transmit monetary policy more strongly and rapidly than traditional banks, particularly during tightening cycles.
ECBPaper
Euro repo market acts as shock absorber in stress periods
A new ECB working paper finds the euro-denominated repo market acts as a shock absorber during financial stress.
ECBPaper
Large energy shocks trigger non-linear inflation, demanding differentiated policy
A new European Central Bank Working Paper finds that euro area inflation reacts disproportionately to large energy shocks, while small shocks have no significant effect.
ECBSpeech
Euro area economy faces risks from energy and uncertainty
Philip R. Lane, Member of the ECB Executive Board, presented an outlook for the euro area economy on March 25, 2026.