European Central Bank
ECBNews
Joint report identifies financial stability vulnerabilities from bank-NBFI linkages
The European Central Bank and the European Systemic Risk Board have published a joint report on financial stability risks from interconnections between banks and the non-bank financial intermediation (NBFI) sector.
Focus
ECBPaper
Bank-NBFI linkages create financial stability risks for euro area
A joint report by the European Central Bank and the ESRB identifies significant financial stability risks stemming from interconnections between banks and non-bank financial intermediation (NBFI) entities in the euro area.
ECBPaper
Margins as early warning for CCPs to prevent contagion
A new ECB working paper explores how central clearing counterparties (CCPs) use margins as early warning devices to manage counterparty risk.
Latest
ECBPaper
New VAR model improves real-time fiscal monitoring for Italy
A new ECB working paper introduces a Bayesian Mixed-Frequency VAR model for real-time fiscal monitoring, nowcasting Italy's government deficit-to-GDP ratio.
ECBSpeech
Monetary sovereignty at risk from digital payment dependencies
ECB Executive Board Member Piero Cipollone warned that Europe's monetary sovereignty faces significant threats from growing dependencies in digital payments and finance.
ECBSpeech
Schnabel: Europe's growth needs Single Market and scale
ECB Executive Board Member Isabel Schnabel argued that the narrative of Europe's decline is misleading, emphasizing its high quality of life and strong institutions.
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ECBPaper
Regulatory quality key to boosting Europe's high-tech investment
A new ECB working paper investigates how institutional and regulatory quality influences investment in high-tech sectors across 25 EU countries.
ECBPaper
Higher insurance coverage reduces macroeconomic impact of climate catastrophes
An ECB Working Paper finds that higher insurance coverage is associated with less severe macroeconomic consequences of climate-related catastrophes.
ECBPaper
ECB staff raise concerns on simplified EU sustainability reporting
The European Central Bank staff have published an opinion on the revised European Sustainability Reporting Standards (ESRS), appreciating the significant simplification but raising critical concerns.
ECBNews
ECB wage tracker indicates normalisation of pay growth by 2026
The European Central Bank's updated wage tracker indicates that negotiated wage growth will level off below 3.0 percent by the end of 2026.
ECBNews
Thomas Jorgensen appointed Director General for Specialized Institutions
Thomas Broeng Jorgensen has been appointed Director General for Specialised Institutions and Less Significant Institutions by the European Central Bank.
ECBPaper
Precautionary cash holdings by European firms linked to firm size
A new ECB working paper empirically documents money demand by European non-financial corporations, finding that cash holdings are inversely related to firm size.