European Central Bank
Exterritoriality, equivalence, and mutual recognition | 2025 ECB Legal Conference
- Title
- Exterritoriality, equivalence, and mutual recognition | 2025 ECB Legal Conference
- Runtime
- 1:25:25
- Date posted
- 10 months ago
- Description
- This panel examines various forms of cross-border interaction between legal systems, including extraterritorial inspections, mutual recognition of administrative decisions, and regulatory equivalence. It will explore how the EU can develop effective legal tools to counteract the unwarranted extraterritorial reach of third-country laws while ensuring the enforcement of its own rules.
Particular attention will be given to banking supervision, such as when third-country authorities intervene with EU-based institutions or the ECB conducts inspections abroad. The panel will also consider the EMIR regime for central counterparties and the recognition of decisions in crisis management. The panel will examine whether such interactions are still viable in the current environment or if a new paradigm is emerging in which the effects of decisions made in one jurisdiction are actively blocked in others.
Panellists:
• Matthias Lehmann, Professor, University of Vie...
- Title
- The Rule of Law in 2025. On Rights, Risks, and Responsibilities | 2025 ECB Legal Conference
- Runtime
- 26:24
- Date posted
- 10 months ago
- Description
- Susanne Baer, Professor at Humboldt University Berlin, former Justice of the German Federal Constitutional Court, delivers closing remarks on the first day of the 2025 ECB Legal Conference.
Watch other sessions from the 2025 ECB Legal Conference “Building Europe's Autonomy: Law, Institutions, Cooperation”: https://www.youtube.com/playlist?list=PLnVAEZuF9FZm3BYRQdFyj1vvCrJfZ-mrM
See the conference programme here: https://www.ecb.europa.eu/press/conferences/html/20250901_7th_ECB_legal_conference.de.html
- Title
- Resilience, autonomy and cooperation in payments and clearing systems | 2025 ECB Legal Conference
- Runtime
- 1:30:49
- Date posted
- 10 months ago
- Description
- Enhancing payment and clearing infrastructures and their resilience are cornerstones of European autonomy within a changing geopolitical environment. Projects such as the European Payments Initiative and services such as TIPS aim to enhance retail payment independence but face challenges in adoption and competitiveness. Regulatory proposals like PSD3 and PSR seek to reduce fragmentation and foster innovation, particularly by opening the market to non-bank actors.
However, their capacity to deliver full payment sovereignty remains limited. The discussion will also address the resilience of critical infrastructures, including CCPs, in light of legislative measures such as DORA and NIS2 as well as soft law instruments such as TIBER and guidance from the CPMI, which further reflect the EU’s evolving regulatory approach.
Panellists:
• Douglas Arner, Professor, University of Hong Kong
• Dessislava Guetcheva-Cheytanova, General Counsel, Bank for In...
- Title
- Autonomy through the internal market and the capital markets union | 2025 ECB Legal Conference
- Runtime
- 1:36:25
- Date posted
- 10 months ago
- Description
- In light of current challenges to international trade, deepening the internal market has become crucial to enhancing the EU’s autonomy. This panel will examine how this context influences the law of the internal market, with a special focus on current debates around the capital markets union (CMU), which is key not only for productivity but also for funding EU economic autonomy.
The discussion will also cover recent proposals for a savings and investment union. It will also extend to critical aspects of EU emergency law, such as the Internal Market Emergency and Resilience Act (IMERA) and other relevant internal market instruments, such as the Chips Act and the recent European Defence Industrial Strategy (EDIS).
Panellists:
• Catherine Barnard, Professor, University of Cambridge
• Emanuele Rebasti, Head of Unit, Council of the European Union
• Larisa Dragomir, Member of Cabinet of Maria Luís Albuquerque, European Commission
Ch...
- Title
- Building budgetary autonomy | 2025 ECB Legal Conference
- Runtime
- 1:39:58
- Date posted
- 10 months ago
- Description
- Budgetary autonomy is typically associated with the power to issue debt, tax and control expenditure. However, in the original Economic and Monetary Union (EMU) plan, this form of EU autonomy was limited. Recent challenges have revived debates on EU-level borrowing and taxation.
This panel will examine existing funding tools like the multiannual financial framework (MFF) and the NextGenerationEU (NGEU), as well as defence-related mechanisms such as the European Peace Facility. It will also address the increasing linkage between EU funding and the enforcement of foundational values, as underscored by the Rule of Law Conditionality Regulation, and the jurisprudence of the Court of Justice.
Panellists:
• Paul Dermine, Professor, Université Libre de Bruxelles
• Alberto de Gregorio Merino, Director at the Legal Services, European Commission
• Cristina Fasone, Associate Professor, LUISS University
Chair: Bruno de Witte, Professor of...
- Title
- Welcome address | 2025 ECB Legal Conference
- Runtime
- 11:38
- Date posted
- 10 months ago
- Description
- Welcome address by Chiara Zilioli, Director General of Legal Services at the European Central Bank (ECB), on the first day of the 2025 ECB Legal Conference.
The conference focuses on institutional, constitutional and judicial issues. The theme of the 2025 ECB Legal Conference is “Building Europe's Autonomy: Law, Institutions, Cooperation.” The conference took place on 1 and 2 September 2025 as a hybrid event.
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZm3BYRQdFyj1vvCrJfZ-mrM
See the conference programme here: https://www.ecb.europa.eu/press/conferences/html/20250901_7th_ECB_legal_conference.de.html
- Title
- Ninth annual conference of the European Systemic Risk Board
- Runtime
- 7:33:21
- Date posted
- 10 months ago
- Description
- https://www.esrb.europa.eu/news/schedule/2025/html/20250903_9th_annual_conference.en.html
- Title
- President Lagarde presents the latest monetary policy decisions – 24 July 2025
- Runtime
- 12:50
- Date posted
- 11 months ago
- Description
- European Central Bank's monetary policy statement at a glance, 24 July 2025: https://www.ecb.europa.eu/press/press_conference/visual-mps/2025/html/mopo_statement_explained_july.en.html
Christine Lagarde, Luis de Guindos: Monetary policy statement, 24 July 2025:
https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2025/html/ecb.is250724~a66e730494.en.html
Monetary policy decisions, 24 July 2025:
https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.mp250724~50bc70e13f.en.html
Combined monetary policy decisions and statement, 24 July 2025:
https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds250724~8cbca58e07.en.pdf?df0653cc32352ba804c7d1262686b588
Published and recorded during our press conference on 24 July 2025
- Title
- ECB Governing Council Press Conference - 24 July 2025
- Runtime
- 45:40
- Date posted
- 11 months ago
- Description
- ECB President Christine Lagarde explains the Governing Council's monetary policy decisions and will answer questions from journalists at the Governing Council press conference to be held on Thursday, 24 July 2025 at 14:45 CEST in Frankfurt am Main.
European Central Bank's monetary policy statement at a glance, 24 July 2025: https://www.ecb.europa.eu/press/press_conference/visual-mps/2025/html/mopo_statement_explained_july.en.html
Christine Lagarde, Luis de Guindos: Monetary policy statement, 24 July 2025:
https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2025/html/ecb.is250724~a66e730494.en.html
Monetary policy decisions, 24 July 2025:
https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.mp250724~50bc70e13f.en.html
Combined monetary policy decisions and statement, 24 July 2025:
https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/shared/pdf/ecb.ds250724~8cbca58e07.en...
- Title
- Closing remarks | “Advancing TARGET Services with DLT transactions in central bank money”
- Runtime
- 6:40
- Date posted
- 12 months ago
- Description
- The European Central Bank focus session on “Advancing TARGET Services with DLT transactions in central bank money” concludes with closing remarks by Dimitri Pattyn, Deputy Director General at the ECB.
Focus session programme: https://www.ecb.europa.eu/press/intro/events/html/fs_20250715.en.html
Watch other sessions from the focus session: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkqeofw9S4E9WResBao15VU
- Title
- Long-term track: Appia | “Advancing TARGET Services with DLT transactions”
- Runtime
- 23:35
- Date posted
- 12 months ago
- Description
- The ECB will provide insights on its work on the long-term integrated ecosystem using distributed ledger technology (DLT), the collaboration with public and private stakeholders, and the international dimension.
Presenter: Holger Neuhaus, Head of Division, ECB
This presentation is part of the European Central Bank’s focus session on “Advancing TARGET Services with DLT Transactions in Central Bank Money,” which took place on 15 July 2025.
Focus session programme: https://www.ecb.europa.eu/press/intro/events/html/fs_20250715.en.html
Watch other sessions from the focus session: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkqeofw9S4E9WResBao15VU
- Title
- Short-term track: Pontes | “Advancing TARGET Services with DLT transactions”
- Runtime
- 37:00
- Date posted
- 12 months ago
- Description
- Deep dive into one of the tracks – Pontes which will provide a short-term offering to the market – including a pilot phase. It will offer euro central bank money settlement, linking market distributed ledger technology (DLT) platforms and TARGET Services to settle financial transactions. Learn more about the project roadmap and how you can be involved.
Presenter: George Kalogeropoulos, Deputy Head of Division, ECB
This presentation is part of the European Central Bank’s focus session on “Advancing TARGET Services with DLT Transactions in Central Bank Money,” which took place on 15 July 2025.
Focus session programme: https://www.ecb.europa.eu/press/intro/events/html/fs_20250715.en.html
Watch other sessions from the focus session: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkqeofw9S4E9WResBao15VU
- Title
- Findings from the exploratory work | “Advancing TARGET Services with DLT transactions”
- Runtime
- 21:49
- Date posted
- 12 months ago
- Description
- The Eurosystem tested three interoperability-type solutions in 2024 together with 64 participants which conducted 50 trials and experiments, with the aim of exploring the potential use of distributed ledger technology (DLT) to settle wholesale financial transactions.
Learn more about the results of the exploratory work and the lessons learnt: https://www.ecb.europa.eu/press/pubbydate/2025/html/ecb.exploratoryworknewtechnologies202506.en.html
Presenter: Paul Gardin, Market Infrastructure Expert, ECB
This presentation is part of the European Central Bank’s focus session on “Advancing TARGET Services with DLT Transactions in Central Bank Money,” which took place on 15 July 2025.
Focus session programme: https://www.ecb.europa.eu/press/intro/events/html/fs_20250715.en.html
Watch other sessions from the focus session: https://www.youtube.com/playlist?list=PLnVAEZuF9FZkqeofw9S4E9WResBao15VU
- Title
- Welcome address | “Advancing TARGET Services with DLT transactions in central bank money”
- Runtime
- 8:49
- Date posted
- 12 months ago
- Description
- The European Central Bank focus session on “Advancing TARGET Services with DLT transactions in central bank money” opens with a welcome address by Dimitri Pattyn, Deputy Director General at the ECB.
The Eurosystem launched a strategy to settle transactions recorded on distributed ledger technology (DLT) using central bank money. The initiative follows a two-track approach – Pontes and Appia – and will be built on the exploratory work on new technologies for wholesale central bank money settlement done with market participants in 2024.
The focus session to discuss this topic took place virtually on 15 July 2025.
Read the strategy: https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr250701~f4a98dd9dc.en.html
Focus session programme: https://www.ecb.europa.eu/press/intro/events/html/fs_20250715.en.html
Watch other sessions from the focus session: https://www.youtube.com/playlist?list=PLnVAEZuF9FZk...
- Title
- Civil society seminar: Digital euro – ensuring European autonomy and resilience
- Runtime
- 57:38
- Date posted
- 12 months ago
- Description
- Evelien Witlox, Programme Manager of the digital euro project, European Central Bank
Barbora K., offline expert in the digital euro project, European Central Bank
Fabian Geuther, Communication specialist digital euro project, European Central Bank
- Title
- Focus Session – Advancing TARGET Services with DLT transactions in central bank money
- Runtime
- 1:58:06
- Date posted
- 12 months ago
- Description
- Focus Session – Advancing TARGET Services with DLT transactions in central bank money
https://www.ecb.europa.eu/press/intro/events/html/fs_20250715.en.html
10:10
Welcome address
The Eurosystem launched a strategy to settle transactions recorded on distributed ledger technology (DLT) using central bank money. The initiative follows a two-track approach – Pontes and Appia – and will be built on the exploratory work on new technologies for wholesale central bank money settlement done with market participants in 2024. Learn more about how this strategy supports the wider EU policies and contributes to a harmonised and integrated European financial ecosystem.
Dimitri Pattyn, Deputy Director General, ECB
10:20
Findings from the exploratory work
The Eurosystem tested three interoperability-type solutions in 2024 together with 64 participants which conducted 50 trials and experiments, with the aim of exploring the poten...
- Title
- Ask the ECB Forum: defence, tariffs and AI – insights from top experts
- Runtime
- 22:07
- Date posted
- 12 months ago
- Description
- Can an increase in defence spending affect investments in green energy and digital infrastructure? What do US tariff threats mean for the ECB? How does the ECB support smaller countries in the Eurosystem? And is AI an opportunity or a risk for the financial future?
In the last episode of our Sintra series, our host Stefania Secola takes us on a walk around the ECB Forum and gets top experts to answer your questions.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 9 July 2025 and recorded during the ECB Forum on Central Banking in Sintra between 30 June and 2 July 2025.
In this episode:
02:05 Defence spending
Can an increase in defence spending affect investments in green energy and digital infrastructure?
08:08 Tariffs
How do US tariff threats affect the economy? What do they mean for the ECB? And what are the opportunities for Europe?
- Title
- Challenges and opportunities: what lies ahead for the world economy?
- Runtime
- 21:22
- Date posted
- 1 year ago
- Description
- Tariffs and geopolitical conflicts have created uncertainty around the world. But how does the new trade environment affect inflation and the economy? How can central banks adapt? And what is the potential impact on the dominance of the US dollar ?
In the third episode of our special Sintra series of the ECB Podcast, our host Paul Gordon talks to London School of Economics Professor Silvana Tenreyro.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 4 July 2025 and recorded on 1 July 2025.
In this episode:
01:30 How is the world economy doing?
What developments are having an impact on our economy today? And what uncertainties are arising from tariffs, trade fragmentation and armed conflicts in different parts of the world?
03:30 Tariffs, trade fragmentation and the economy
How can trade tariffs and fragmentation affect economic growth and ...
- Title
- Award ceremony for the Young Economist Prize and closing remarks | 2025 ECB Forum on Central Banking
- Runtime
- 12:57
- Date posted
- 1 year ago
- Description
- Awarding of the 2025 Young Economist Prize and closing remarks by European Central Bank President Christine Lagarde at the ECB Forum on Central Banking.
Congratulations to Alena Wabitsch from the University of Oxford, the winner of the 2025 Young Economist Prize. Read "The Messenger Matters” paper here: https://www.ecb.europa.eu/press/conferences/ecbforum/shared/pdf/2025/EFCB_2025_Wabitsch_Paper.pdf
Young economists have a vital role to play in shaping Europe’s future. Every year the ECB recognises this through the Young Economist Prize, a research competition that offers talented students the chance to share their fresh perspectives on today’s challenges.
Learn more about the Young Economist Prize here: https://www.ecb.europa.eu/press/conferences/ecbforum/YE_competition/html/index.en.html
Watch the 2025 presentations by finalists: https://www.youtube.com/watch?v=sE1DejximT8
Watch other sessions from the Fo...
- Title
- A conversation about tapping Europe’s growth potential | 2025 ECB Forum on Central Banking
- Runtime
- 48:44
- Date posted
- 1 year ago
- Description
- Panellists engage in a conversation about tapping Europe’s growth potential at the 2025 European Central Bank Forum on Central Banking. Beatrice Weder di Mauro, Professor at the Graduate Institute of International and Development Studies, Geneva, and President of the CEPR, moderates the discussion.
Panellists:
Philippe Aghion, Professor, Collège de France and London School of Economics
Lars Feld, Professor, University of Freiburg, and Director of the Walter Eucken Institute
This year's Forum theme was “Adapting to change: macroeconomic shifts and policy responses.” #ECBForum
Watch other sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full programme here: https://www.ecb.europa.eu/press/conferences/html/20250630_ecb_forum_on_central_banking.en.html
- Title
- Central bank communication: current challenges | 2025 ECB Forum on Central Banking
- Runtime
- 1:27:35
- Date posted
- 1 year ago
- Description
- Panellists discuss current challenges in central bank communication at the 2025 European Central Bank Forum on Central Banking. ECB Board Member Philip R. Lane chairs the discussion.
Panellists:
Alessandra Galloni, Editor-in-Chief, Reuters
Carolin Pflueger, Associate Professor, University of Chicago, Harris School of Public Policy
Anna Seim, Deputy Governor, Sveriges Riksbank
Alan Taylor, Professor, Columbia University and external member of the Monetary Policy Committee of the Bank of England
This year's Forum theme was “Adapting to change: macroeconomic shifts and policy responses.” #ECBForum
Watch other sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full programme here: https://www.ecb.europa.eu/press/conferences/html/20250630_ecb_forum_on_central_banking.en.html
- Title
- New industrial developments and the evolving architecture of international trade
- Runtime
- 1:00:08
- Date posted
- 1 year ago
- Description
- Author Ana Maria Santacreu, Economic Policy Advisor at the Federal Reserve Bank of St. Louis, and Diego Comin, Professor at Dartmouth College, discuss the paper “Recent evolutions in the global trade system: from integration to strategic realignment” at the 2025 European Central Bank Forum on Central Banking. ECB Board Member Piero Cipollone chairs the discussion.
This year's Forum theme was “Adapting to change: macroeconomic shifts and policy responses.” #ECBForum
Read the paper here: https://www.ecb.europa.eu/pub/pdf/sintra/ecb.forumcentbankpub2025_Santacreu_paper.en.pdf
Watch other sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full programme here: https://www.ecb.europa.eu/press/conferences/html/20250630_ecb_forum_on_central_banking.en.html
- Title
- Non-bank financial intermediaries, liquidity and their prudential treatment
- Runtime
- 1:03:27
- Date posted
- 1 year ago
- Description
- Author Loriana Pelizzon, Professor and Deputy Scientific Director at the Leibniz Institute for Financial Research SAFE, and Professor at Goethe University Frankfurt and Ca’ Foscari University of Venice, and Nicola Cetorelli, Financial Research Advisor and Head of Financial Intermediation at the Federal Reserve Bank of New York, discuss the paper “Growth of non-bank financial intermediaries, monetary policy, and financial stability” at the 2025 European Central Bank Forum on Central Banking.
ECB Vice-President Luis de Guindos chairs the discussion.
This year's Forum theme was “Adapting to change: macroeconomic shifts and policy responses.” #ECBForum
Read the paper here: https://www.ecb.europa.eu/pub/pdf/sintra/ecb.forumcentbankpub2025_Pelizzon_paper.en.pdf
Watch other sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full programme here: https://www.ecb....
- Title
- ECB Forum on Central Banking 2025 - Day 2
- Runtime
- 6:55:56
- Date posted
- 1 year ago
- Description
- The ECB Forum on Central Banking – the Sintra Forum – is an annual event organised by the European Central Bank and is held in Sintra, Portugal.
It brings together central bank governors, academics, financial market representatives, journalists and others to exchange views on current policy issues and discuss the Forum’s key topic from a longer-term perspective.
- Title
- 2025 Young Economist Prize Presentations | 2025 ECB Forum on Central Banking
- Runtime
- 24:37
- Date posted
- 1 year ago
- Description
- Presentations by the finalists of the 2025 Young Economist Prize at the European Central Bank Forum on Central Banking. Young economists have a vital role to play in shaping Europe’s future. Every year the ECB recognises this through the Young Economist Prize, a research competition that offers talented students the chance to share their fresh perspectives on today’s challenges.
This year's Forum theme was “Adapting to change: macroeconomic shifts and policy responses.” #ECBForum #YoungEconomistPrize
Watch the award ceremony: https://www.youtube.com/watch?v=RnTxtH9y_JU
Learn more about the Young Economist Prize here: https://www.ecb.europa.eu/press/conferences/ecbforum/YE_competition/html/index.en.html
Watch other sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full Forum programme here: https://www.ecb.europa.eu/press/conferences/html/20250630_...
- Title
- Welcome and introduction | 2025 ECB Forum on Central Banking
- Runtime
- 2:41
- Date posted
- 1 year ago
- Description
- The ECB Forum on Central Banking – the Sintra Forum – is an annual event organised by the European Central Bank and is held in Sintra, Portugal. It brings together central bank governors, academics, financial market representatives, journalists and others to exchange views on current policy issues and discuss the Forum’s key topic from a longer-term perspective.
Welcome by Wolfgang Proissl, Head of Communications at the ECB, and introduction by Claire Jones, Financial Times.
The theme of the 2025 ECB Forum on Central Banking was “Adapting to change: macroeconomic shifts and policy responses.” The Forum took place from 30 June to 2 July 2025.
Watch all sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full programme here: https://www.ecb.europa.eu/press/conferences/html/20250630_ecb_forum_on_central_banking.en.html
#ECBForum
- Title
- Macroeconomic implications of changes in euro area labor markets | 2025 ECB Forum on Central Banking
- Runtime
- 1:02:15
- Date posted
- 1 year ago
- Description
- Author Benjamin Schoefer, Associate Professor at the University of California, Berkeley and Nicola Fuchs-Schündeln, President of WZB Berlin and Professor at Goethe University Frankfurt discuss the paper “Eurosclerosis at 40: labor market institutions, dynamism, and European competitiveness” at the 2025 European Central Bank Forum on Central Banking. ECB Vice-President Luis de Guindos chairs the discussion.
This year's Forum theme was “Adapting to change: macroeconomic shifts and policy responses.” #ECBForum
Read the paper here: https://www.ecb.europa.eu/pub/pdf/sintra/ecb.forumcentbankpub2025_Schoefer_paper.en.pdf
Watch other sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full programme here: https://www.ecb.europa.eu/press/conferences/html/20250630_ecb_forum_on_central_banking.en.html
- Title
- Monetary transmission through households, consumption and savings| 2025 ECB Forum on Central Banking
- Runtime
- 1:03:54
- Date posted
- 1 year ago
- Description
- Author Paolo Surico, Professor at the London Business School and Maria Teresa Valderrama, Head of the Monetary Policy Section at the Oesterreichische Nationalbank discuss the paper “Discretionary spending is the cycle, and why it matters for monetary policy” at the 2025 European Central Bank Forum on Central Banking. ECB Board Member and Vice-Chair of the Supervisory Board Frank Elderson chairs the discussion.
This year's Forum theme was “Adapting to change: macroeconomic shifts and policy responses.” #ECBForum
Read the paper here: https://www.ecb.europa.eu/pub/pdf/sintra/ecb.forumcentbankpub2025_Surico_paper.en.pdf
Watch other sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full programme here: https://www.ecb.europa.eu/press/conferences/html/20250630_ecb_forum_on_central_banking.en.html
- Title
- Cross-country heterogeneity in the euro area and implications for monetary policy
- Runtime
- 1:19:59
- Date posted
- 1 year ago
- Description
- Panellists discuss cross-country heterogeneity in the euro area and its implications for monetary policy at the 2025 European Central Bank Forum on Central Banking. ECB Board Member Isabel Schnabel chair the discussion.
Panellists:
Agnès Bénassy-Quéré, Second Deputy Governor, Banque de France
Piet Haines Christiansen, Director, Danske Bank
Luca Fornaro, Senior Researcher, CREI, and Adjunct Professor, Universitat Pompeu Fabra
Refet Gürkaynak, Professor, Bilkent University
This year's Forum theme was “Adapting to change: macroeconomic shifts and policy responses.” #ECBForum
Watch other sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full programme here: https://www.ecb.europa.eu/press/conferences/html/20250630_ecb_forum_on_central_banking.en.html
- Title
- Policy panel | 2025 ECB Forum on Central Banking
- Runtime
- 1:01:17
- Date posted
- 1 year ago
- Description
- Policy panel at the 2025 European Central Bank Forum on Central Banking
Panellists:
Andrew Bailey, Governor, Bank of England
Christine Lagarde, President, European Central Bank
Jerome Powell, Chair, Board of Governors of the Federal Reserve System
Chang Yong Rhee, Governor, Bank of Korea
Kazuo Ueda, Governor, Bank of Japan
Moderator: Francine Lacqua, Anchor and Editor-at-large, Bloomberg Television
This year's Forum theme was “Adapting to change: macroeconomic shifts and policy responses.” #ECBForum
Watch other sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full programme here: https://www.ecb.europa.eu/press/conferences/html/20250630_ecb_forum_on_central_banking.en.html
- Title
- Price Stability in Times of Change
- Runtime
- 1:01:59
- Date posted
- 1 year ago
- Description
- President Christine Lagarde sat down with central bank heads from the United States, hte United Kindgdom, South Korea, and Japan at this year's ECB Forum on Central Banking in Sintra, Portugal. They discuss the steps they've taken to fight inflation and explioe the challenges and opportunities ahead.
Recorded on 1 July 2025 and published on 2 July 2025
Further reading:
www.ecb.europa.eu/press/conference…_banking.en.html
European Central Bank:
www.ecb.europa.eu/home/html/index.en.html
European Central Bank Supervision:
www.bankingsupervision.europa.eu/home/htm….en.html
- Title
- ECB Forum on Central Banking 2025 - Day 1
- Runtime
- 7:15:36
- Date posted
- 1 year ago
- Description
- The ECB Forum on Central Banking – the Sintra Forum – is an annual event organised by the European Central Bank and is held in Sintra, Portugal.
It brings together central bank governors, academics, financial market representatives, journalists and others to exchange views on current policy issues and discuss the Forum’s key topic from a longer-term perspective.
Chapters in the video:
00:00 Placeholder slide
17:11 Welcome and introduction
19:50 Session 1: Macroeconomic implications of changes in euro area labour markets
1:22:53 Session 2: Monetary transmission through households, consumption and savings
3:00:07 Young Economist Prize - Introduction of the finalists – speed presentations on the stage
3:22:24 Panel 1: Cross-country heterogeneity in the euro area and implications for monetary policy
6:12:32 Policy panel
- Title
- Adapting to change: Ensuring price stability in a new geopolitical era
- Runtime
- 18:36
- Date posted
- 1 year ago
- Description
- How does geopolitical uncertainty affect inflation? How do we keep monetary policy fit for purpose in a rapidly changing world? And what are the main topics at this year’s ECB Forum in Sintra, Portugal?
In the first episode of our special Sintra series for The ECB Podcast, our host Paul Gordon discusses all these questions and more with Chief Economist and Executive Board member, Philip R. Lane.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Published on 25 June 2025 and recorded on 16 June 2025.
In this episode:
01:28 The ECB Governing Council lowered key interest rates to 2%.
What was the motivation behind the decision?
04:30 How do we ensure that risks and uncertainties are integrated into the monetary policy decision-making process?
What is our baseline? What factors need to be taken into account?
06:44 Alternative scenarios in the...
- Title
- Introductory speech by ECB President Christine Lagarde | 2025 ECB Forum on Central Banking
- Runtime
- 22:56
- Date posted
- 1 year ago
- Description
- The 2025 European Central Bank Forum on Central Banking opens with an introductory speech by ECB President Christine Lagarde. This year’s Forum theme was “Adapting to change: macroeconomic shifts and policy responses.” #ECBForum
Watch other sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full programme here: https://www.ecb.europa.eu/press/conferences/html/20250630_ecb_forum_on_central_banking.en.html
- Title
- Press Conference on ECB Strategy Assessment
- Runtime
- 1:05:52
- Date posted
- 1 year ago
- Description
- Today at 11:30 CET, we will announce the results of our strategy assessment.
At 13:00 CET / 12:00 noon Lisbon time, President Christine Lagarde and Chief Economist Philip R. Lane will answer questions from journalists in a press conference.
- Title
- Climate change, firms and aggregate productivity
- Runtime
- 4:38
- Date posted
- 1 year ago
- Description
- ECB Research Bulletin by Andrea Caggese, Andrea Chiavari, Sampreet Goraya and Carolina Villegas Sanchez.
Read more: https://www.ecb.europa.eu/press/research-publications/resbull/2025/html/ecb.rb250429~6f9636652d.en.html
The Research Bulletin features a selection of recent work on policy-relevant topics by ECB economists. Published on a monthly basis, the articles in the Research Bulletin are intended for a general audience.
The views expressed in each article are those of the authors and do not necessarily represent the views of the European Central Bank and the Eurosystem.
- Title
- ECB Forum on Central Banking | Young Economist Prize 2025
- Runtime
- 2:23
- Date posted
- 1 year ago
- Description
- Young economists have a vital role to play in shaping Europe’s future. Every year we recognise this through the Young Economist Prize, a research competition that offers talented students the chance to share their fresh perspectives on today’s challenges.
Finalists are invited to the annual ECB Forum on Central Banking, and the overall winner is awarded €10,000.
- Title
- ECB Forum on Central Banking 2025 - Teaser
- Runtime
- 1:12
- Date posted
- 1 year ago
- Description
- The theme of the 2025 ECB Forum on Central Banking is “Adapting to change: macroeconomic shifts and policy responses.” The Forum took place from 30 June to 2 July 2025 in Sintra.
Watch all sessions from the Forum: https://www.youtube.com/playlist?list=PLnVAEZuF9FZmbuhFUXmjojYBjChgDtVpF
Read the full programme here: https://www.ecb.europa.eu/press/conferences/html/20250630_ecb_forum_on_central_banking.en.html
- Title
- Financial literacy in Europe - Mário Centeno, Governor, Banco de Portugal
- Runtime
- 3:08
- Date posted
- 1 year ago
- Description
- Financial literacy is crucial for Europeans to successfully navigate the complexities of today’s financial landscape.
Financial literacy in Europe
https://www.ecb.europa.eu/ecb-and-you/financial_literacy_europe/html/index.en.html
ECB International Women’s Day 2025
https://www.ecb.europa.eu/press/conferences/html/20250307_intl_womens_day.en.html
- Title
- ECB Conference on Financial Stability and Macroprudential Policy 2025 - Day 2
- Runtime
- 9:01:36
- Date posted
- 1 year ago
- Description
- The European Central Bank (ECB) and the Federal Reserve Bank of New York (NY Fed) are organising their annual Conference on Nonbank Financial Institutions (NBFIs) as a full-day event on 10 June 2025. The conference aims to bring together academics, central bankers and market participants to present and discuss new research on NBFIs of particular interest to central banks.
In conjunction, on 11 June, the ECB is organising its 7th annual financial stability and macroprudential policy conference. This conference will cover broader questions related to financial stability and macroprudential policy. Its aim is to bring together academics, central bankers and market participants to present and discuss new research on financial stability and macro-finance topics of particular interest to central banks.
- Title
- ECB Conference on Financial Stability and Macroprudential Policy 2025 - Day 1
- Runtime
- 8:38:54
- Date posted
- 1 year ago
- Description
- ECB/Fed NY Annual Conference on Non-Bank Financial Institutions
Timestamps:
00:00 Welcome address / opening remarks
13:07 Session I: Non-bank lending to firms
1:55:01 Session II: Fire-sales
4:15:10 Panel discussion
5:43:25 Session III: Non-banks, markets and monetary policy
7:20:02 Session IV: Banks and non-banks
- Title
- President Lagarde presents the latest monetary policy decisions – 5 June 2025
- Runtime
- 17:34
- Date posted
- 1 year ago
- Description
- Today our Governing Council decided on monetary policy, determining what’s needed to return inflation to our 2% goal in a timely manner.
Listen to President Christine Lagarde present today’s decisions. The statement also covers:
• how the economy is performing
• how we expect pri¬ces to develop
• the risks to the economic outlook
• the dynamics behind financial and monetary conditions
Our monetary policy statement at a glance, 5 June 2025 https://www.ecb.europa.eu/press/press_conference/visual-mps/2025/html/mopo_statement_explained_june.en.html
Christine Lagarde, Luis de Guindos: Monetary policy statement, 5 June 2025 https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2025/html/ecb.is250605~f00a36ef2b.en.html
Monetary policy decisions, 5 June 2025 https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.mp250605~3b5f67d007.en.html
Combined monetary poli...
- Title
- ECB Governing Council Press Conference - 5 June 2025
- Runtime
- 1:04:30
- Date posted
- 1 year ago
- Description
- ECB President Christine Lagarde explains the Governing Council's monetary policy decisions and will answer questions from journalists at the Governing Council press conference to be held on 5 June 2025 at 14:45 CET in Frankfurt am Main.
- Title
- Focus Session – Non-time critical payments - Closing remarks
- Runtime
- 6:28
- Date posted
- 1 year ago
- Description
- Dimitri Pattyn, Deputy Director General, Market Infrastructure and Payments, ECB
- Title
- Focus Session – Non-time critical payments - Business cases for NTC payments
- Runtime
- 18:04
- Date posted
- 1 year ago
- Description
- In TIPS, NTC transactions would come in addition to SCT Inst transactions. Examples of possible business cases would be payments whose immediacy is not necessary. Learn more about what advantages this would bring and how NTC payments can benefit PSPs.
Fabrizio Dinacci, Team Lead Market Infrastructure PM, ECB
- Title
- Focus Session – Non-time critical payments - Welcome address
- Runtime
- 8:24
- Date posted
- 1 year ago
- Description
- Non-time critical (NTC) payments in TARGET Instant Payment Settlement (TIPS) would be a new functionality which allows for a tailored payment processing based on the criticality of the payment. Discover what benefits this would bring to payment service providers (PSPs) and the purpose for implementation.
Dimitri Pattyn, Deputy Director General, ECB
- Title
- Focus Session – Non-time critical payments - Technical introduction to the NTC solution
- Runtime
- 23:03
- Date posted
- 1 year ago
- Description
- Discover more on how NTC payments can be made possible in TIPS and gain insights on the technical functionality for the NTC solution.
Andrea Dimartina, Market Infrastructure Expert and TIPS Functional Manager, Banca d’Italia
- Title
- Focus Session – Non-time critical payments - Panel
- Runtime
- 28:48
- Date posted
- 1 year ago
- Description
- Learn more about the benefits that NTC payments offer PSPs with regards to the 24/7 availability of the SCT Inst features combined with the certainty offered by the SCT scheme. Why do banks support NTC payments in TIPS? And how can you benefit?
Martijn de Ruijter, Head of SEPA Products and Payments Fraud Prevention, Rabobank
Michael Knetsch, Tribe Lead Instant Payments, Deutsche Bank
Carl Bengtzon, Business Developer, SEB Treasury
Moderator: Karen Birkel, Head of Market Infrastructure Development Division, ECB
- Title
- Focus Session – Non-time critical payments
- Runtime
- 1:43:09
- Date posted
- 1 year ago
- Description
- Non-time critical (NTC) payments in TARGET Instant Payment Settlement (TIPS) would be a new functionality which allows for a tailored payment processing based on the criticality of the payment. Discover what benefits this would bring to payment service providers (PSPs) and the purpose for implementation.
- Title
- Private safe asset supply and financial instability
- Runtime
- 4:59
- Date posted
- 1 year ago
- Description
- ECB Research Bulletin by Madalen Castells-Jauregui.
Read more: https://www.ecb.europa.eu/press/research-publications/resbull/2025/html/ecb.rb250527~db71bf8d29.en.html
The Research Bulletin features a selection of recent work on policy-relevant topics by ECB economists. Published on a monthly basis, the articles in the Research Bulletin are intended for a general audience.
The views expressed in each article are those of the authors and do not necessarily represent the views of the European Central Bank and the Eurosystem.
