EU Economy - Unemployed in the euro area declined from 18.6 million in the second quarter of 2014 to 14.6 million in the last quarter ..- Mario Draghi

NEWS Release - Hearing of the Committee on Economic and Monetary Affairs of the European Parliament - Introductory Statement by Mario Draghi, President of the ECB, at the ECON committee of the European Parliament, Brussels, 20 November 2017

Mr Chairman - Honourable Members of the Economic and Monetary Affairs Committee - Ladies and gentlemen. I am glad to be back at the European Parliament for my last hearing of this year.Since we last met, the ECB Governing Council has taken important decisions on the recalibration of its monetary policy instruments beyond the end of the year.

EU Economy - Bond funds registered an inflow of €80 billion in the third quarter of 2017, while mixed funds experienced an inflow of €60 billion.- ECB

Press Release - Euro area investment fund statistics: third quarter of 2017

  In the third quarter of 2017 the outstanding amount of shares/units issued by investment funds other than money market funds was €10,921 billion, which is €269 billion higher than in the second quarter of 2017.

Συνοπτική Λογιστική κατάσταση Ευρωσυστήματος - Ο καθαρός δανεισμός στα Ευρωπαϊκά πιστωτικά ιδρύματα μειώθηκε κατά 34,8 δισ. ευρώ ..- ECB

Δελτίο Τύπου - 7 Νοεμβρίου 2017 - Ενοποιημένη λογιστική κατάσταση του Ευρωσυστήματος στις 3 Νοεμβρίου 2017:

Κατά την εβδομάδα που έληξε στις 3 Νοεμβρίου 2017, οι απαιτήσεις χρυσού και χρυσού (στοιχείο 1 του ενεργητικού) παρέμειναν αμετάβλητες.

Η καθαρή συναλλαγματική θέση του Ευρωσυστήματος (στοιχεία 2 και 3 του ενεργητικού μείον τα στοιχεία 7, 8 και 9 του παθητικού) αυξήθηκε κατά 0,3 δισεκατομμύρια ευρώ σε 253,8 δισεκατομμύρια ευρώ.

EU Economy - Many banks still lack the ability to absorb large losses, as their ratio of bad loans to capital and provisions remains high.- Mario Draghi - ECB

NEWS Release - European banking supervision three years on  -  Welcome remarks by Mario Draghi, President of the ECB, at the second ECB Forum on Banking Supervision, Frankfurt am Main, 7 November 2017

It is my pleasure to welcome you to this second ECB Forum on Banking Supervision.

When I spoke at the Forum in 2015, European banking supervision had only been in operation for one year. Much had been achieved in that time – not least the comprehensive assessment of bank balance sheets – but in many ways the single supervisor was still untested.

EU Economy - The exchange rate is not a policy target for the ECB ..- Benoît Cœuré

NEWS Release - Monetary policy, exchange rates and capital flows  -  Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the 18th Jacques Polak Annual Research Conference hosted by the International Monetary Fund, Washington D.C., 3 November 2017

Central bank asset purchase programmes are often catalysts for significant cross-border capital flows. [1] By compressing the (excess) return on domestic bonds, they encourage investors to rebalance their portfolios towards foreign, higher yielding assets.[2] 

EU Economy - Στα 131,1 δισ. ευρώ. ανήλθε ο καθαρός δανεισμός των Πιστωτικών Ιδρυμάτων του Ευρωσυστήματος ..

Δελτίο Τύπου - 31 Οκτωβρίου 2017-  Ενοποιημένη λογιστική κατάσταση του Ευρωσυστήματος της 27ης Οκτωβρίου 2017:  

Κατά την εβδομάδα που έληξε στις 27 Οκτωβρίου 2017, οι απαιτήσεις χρυσού και χρυσού (στοιχείο 1 του ενεργητικού) παρέμειναν αμετάβλητες.

Financial integration - The country in which a Bank is headquartered should be irrelevant..- Peter Praet - ECB

Publication - EMU - how much federalism? -  Keynote Address by Peter Praet, Member of the Executive Board of the ECB, at the 5th Frankfurt Conference on Financial Market Policy, organised by the SAFE Policy Center of Goethe University, Frankfurt am Main, 27 October 2017

Ladies and gentlemen - I would like to thank the organisers Jan-Peter Krahnen and Hans-Helmut Kotz for inviting me to speak at the fifth edition of the Frankfurt Conference on Financial Market Policy.

EU Economy - Loans have increased for European Banks - Net demand continued to rise across all loan categories - ECB

Press Release - Results of the October 2017 euro area bank lending survey - 24 October 2017

Increasing demand and eased lending conditions support loan growth - The ECB’s APP facilitates an easing of credit terms and conditions  -  Negative deposit facility rate has a positive impact on lending volumes

EU Economy - The total assets of domestic euro area banks amounted to €24.2 trillion on a consolidated basis at the end of 2016, a 0.5% increase on the previous year and a 14% decline compared with 2008 .. - ECB

Press Release - Report on financial structures shows ongoing consolidation in the banking sector  - 23 October 2017

• Number of credit institutions declined further in 2016, bringing the cumulative decline since 2008 to 25% 

• Euro area banks’ median CET1 ratio rose to 15.4 % in 2016, from 14.4 % in 2017

EU Economy - Unchanged at 2.4% the annual growth rate of adjusted loans to households in April ..- ECB

Press Release 29 May 2017- Monetary developments in the euro area: April 2017

 • The annual growth rate of the broad monetary aggregate M3 decreased to 4.9% in April 2017, from 5.3% in March. • The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits, stood at 9.2% in April, compared with 9.1% in March. 

The European System of Central Banks (ESCB) welcomes the publication of the Foreign Exchange Global Code of Conduct ..

Press Release -  ESCB central banks welcome the publication of Foreign Exchange Global Code of Conduct - 25 May 2017

The European System of Central Banks (ESCB) welcomes the publication of the Foreign Exchange Global Code of Conduct (Code) and related adherence mechanisms material. This is a significant global initiative to promote a robust, fair, liquid, open and transparent foreign exchange (FX) market underpinned by high ethical standards which benefits all wholesale FX market participants. 

EU Economy - The upswing is becoming increasingly solid, and continues to broaden across sectors and countries - Real GDP in the euro area has expanded for 16 consecutive quarters..- ECB

Press Release - Europe’s economic recovery: challenges and opportunities for the banking sector - Remarks by Peter Praet, Member of the Executive Board of the ECB, at the Association of Banks in Bulgaria  -  Sofia, 24 May 2017

Europe’s economic recovery

Since June 2014, the ECB has introduced a range of unconventional measures, alongside our conventional ones, in pursuit of its price stability objective. Together, these measures have proved to be extremely effective in preventing a period of disinflation from spiralling into one of deflation. 

EU Economy - Euro area GDP growth is currently 1.7%, and surveys point to continued resilience in the coming quarters.. - Mario Draghi - ECB

Press Release  - The interaction between monetary policy and financial stability in the euro area

Keynote speech by Mario Draghi, President of the ECB, at the First Conference on Financial Stability organised by the Banco de España and Centro de Estudios Monetarios y Financieros, Madrid, 24 May 2017

EU Economy - The financial situation of firms continued to improve - On balance, 19% of SMEs reported higher turnover ..- ECB

Press Release -  Report on the results of the Survey on the Access to Finance of Enterprises in the euro area – October 2016 to March 2017  - 24 May 2017

SMEs continued to signal improvements in the availability of external finance  -  For the first time general economic outlook is seen as conducive to the availability of external finance  - SMEs signalled improved turnover and debt situations, along with stable profits and rising costs  -  Many SMEs continued to pursue deleveraging, either as a way to achieve better credit ratings or to rebuild balance sheet capacity for the future.

Economy - Two political events triggered an increase in economic policy uncertainty in 2016: the outcome of the UK referendum on EU membership (“Brexit”) and the election of a new US President .. - ECB

Publication - Decoupling policy uncertainty from financial conditions

Introduction

 Two political events triggered an increase in economic policy uncertainty in 2016: the outcome of the UK referendum on EU membership (“Brexit”) and the election of a new US President. In both countries, uncertainty about future economic policy substantially increased after the respective event.

EU Economy - Mixed developments underline importance of ambitious capital markets union and completion of the banking union ..- ECB

NEWS Release -  Euro area financial integration stalls during 2016  - 19 May 2017

Mixed developments underline importance of ambitious capital markets union and completion of the banking union  -  New quality indicator shows limited private cross-country risk-sharing

Development of more pan-European banks could help financial integration and foster risk-sharing via retail credit markets

EU Economy - The current account of the euro area recorded a surplus of €34.1 billion in March 2017..- ECB

Press Release -  Euro area monthly balance of payments  (March 2017)  - 19 May 2017

In March 2017 the current account of the euro area recorded a surplus of €34.1 billion.[1]  -  In the financial account, combined direct and portfolio investment recorded net acquisitions of assets of €75 billion and net incurrences of liabilities of €32 billion.

EU Economy - The current financial conditions remain highly supportive of the ongoing recovery..- Benoît Cœuré - ECB

NEWS Release -  Dissecting the yield curve: a central bank perspective  -  Welcome remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at the annual meeting of the ECB’s Bond Market Contact Group, Frankfurt am Main, 16 May 2017

Ladies and gentlemen, Let me welcome you again and thank you for coming to Frankfurt to share your views and insights with us. [1] As you might know, just a few weeks ago I gave a speech[2] in Paris that addressed possible spill-overs from the repo market to the government bond market – a topic that you also discussed today and where I believe further work is needed to develop our understanding and guide policy deliberations.

EU Economy - The current account of the euro area recorded a surplus of €37.9 billion in February 2017 ..- ECB

Press Release - Euro area monthly balance of payments  (February 2017) 21 April 2017

In February 2017 the current account of the euro area recorded a surplus of €37.9 billion.[1] - In the financial account, combined direct and portfolio investment recorded net acquisitions of assets of €149 billion and net incurrences of liabilities of €76 billion.

EU Economy - The liquidity and functioning of markets for the underlying collateral deteriorated - Deterioration was most pronounced for government bonds ..- ECB

Press Release - Results of the March 2017 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD) - 19 April 2017

Less favourable non-price terms for secured funding and for non-cleared OTC derivatives - Worsened market liquidity for underlying collateral - Less favourable credit terms than one year ago for most counterparty types