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Originally published on 5 April 2025
CAPITAL REQUIREMENTS
- EU Commission proposes maintaining current liquidity rules to strengthen EU financial markets (including Q&A)
ECB
- Financial stability in uncertain times – Speech by ECB Vice-President Luis de Guindos
- A “European moment” in an inverted world – Speech by ECB President Christine Lagarde
- Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 5-6 March 2025
- Enhancing cross-border payments in Europe and beyond – Speech by Piero Cipollone, Member of the ECB Executive Board
- ECB Blog: When investors move in: new dynamics in European housing markets
- Further ECB documents
- Isabel Schnabel: Reviving growth in the euro area – Presentation by Isabel Schnabel, Member of the Executive Board of the ECB, at the European House Ambrosetti’s 36th Workshop on Economy and Finance, Italy
- Reviving growth in the euro area – Isabel Schnabel, Member of the Executive Board of the ECB at SciencesPo, Paris, 2 April 2025
- Households and non-financial corporations in the euro area: fourth quarter of 2024
- Euro area quarterly balance of payments and international investment position: fourth quarter of 2024
- Euro area bank interest rate statistics: February 2025
- Consolidated financial statement of the Eurosystem as at 28 March 2025
- Interest rate control and the transmission of monetary policy
- Opinion of the European Central Bank of 31 March 2025 on a proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 909/2014 as regards a shorter settlement cycle in the Union (CON/2025/7)
- Word2Prices: embedding central bank communications for inflation prediction
- Geopolitical risk and its implications for macroprudential policy
- Effects of monetary policy on labor income: the role of the employer
- The impact of regional institutional quality on economic growth and resilience in the EU
- ECB Survey of Monetary Analysts (SMA), April 2025
ESM/EFSF
- European Stability Mechanism mandates Scope Ratings to rate its creditworthiness
- EFSF raises €5 billion with new 5-year bond, completes over half of annual funding
ARTIFICIAL INTELLIGENCE
- ECB President Lagarde on the transformative power of AI
- ECB Workshop on Artificial Intelligence
- Welcome address, Christine Lagarde, ECB
- Keynote speech: AI and the outlook for productivity
- Keynote speech: The transformative power of AI
- Session 1: How is AI transforming the labour market?
- Session 2: Is this time different? Will AI have a significant effect on productivity?
- Session 3: Does AI matter for monetary policy?
- The Transformative Power of AI: Economic Implications and Challenges – 1 April
- The Transformative Power of AI: Economic Implications and Challenges – 2 April
- Policy roundtable & Concluding remarks
- AI, Fintechs, and Banks – Speech by U.S. Federal Reserve Governor Michael S. Barr
- IMF Working Paper No. 2025/067: AI and Productivity in Europe
SRB
- SRB launches public consultation on valuing banks in resolution
- Dominique Laboureix: Opening address at the SRB press breakfast 2025
SUSTAINABLE FINANCE
- Call for applications: Chair of the Sustainability Reporting Board of the European Financial Reporting Advisory Group (EFRAG)
NORDIC-BALTIC FINANCE
- Speech by Swedish Prime Minister Ulf Kristersson at high-level event on EU capital markets
- The eight Nordic-Baltic countries publish report on large financial crisis simulation exercise
ESAS
- EU financial supervisors call for vigilance amid rising geopolitical and cyber risks
- The European Supervisory Authorities publish evaluation report on the Securitisation Regulation
EBA
- The EBA publishes its annual assessment of banks’ internal approaches for the calculation of capital requirements
- EBA and ESM: Enhancing Europe’s resilience against rising geopolitical risks
- The EU subsidiaries of third country players account for 10% of total EU assets. Their presence is more significant in the derivatives market, the EBA Report finds
- EBA’s platform contributes to successful execution of the NBSG crisis simulation exercise
- François-Louis Michaud’s term as EBA Executive Director renewed by the Board of Supervisors
- Ongoing EBA consultations
- 5 MARCH – 7 APRIL 2025: Discussion on a possible Delegated Act specifying the method for the determination of fees for to be paid by financial and non-financial counterparties requiring the validation of pro forma models
- 8 JANUARY – 8 APRIL 2025: Consultation on Regulatory Technical Standards on the calculation and aggregation of crypto exposure values
- 16 JANUARY – 16 APRIL 2025: Consultation on Guidelines on ESG scenario analysis
EIOPA
- Unlocking the potential of pensions in Europe – Keynote speech delivered by Petra Hielkema
- Other EIOPA publications
- EIOPA publishes monthly technical information for Solvency II Relevant Risk-Free Interest Rate Term Structures – end-March 2025
- Monthly update of the symmetric adjustment of the equity capital charge – end-March 2025
- EIOPA publishes the Ultimate Forward Rate (UFR) for 2026
- Upcoming EIOPA events
- 8 April 2025: Online public hearing on the consultation paper on EIOPA’s Opinion on Artificial Intelligence Governance and Risk Management
- 9 April 2025: Online public event on the Third EIOPA IDD application report
- Open EIOPA consultations
- Consultation paper and impact assessment on EIOPA’s Opinion on AI governance and risk management – 12 February 2025 – 12 May 2025, 23:59 (CEST)
- Consultation on revised Guidelines on methods for determining the market shares for reporting – 3 February 2025 – 28 April 2025, 23:59 (CEST)
- Consultation on revised Guidelines on the treatment of related undertakings – Solvency II Review – 3 April 2025 – 26 June 2025, 23:59 (CEST)
ESMA
- ESMA facilitates access and use of data from its public registers
- Other ESMA publications
- Register of authorised European long-term investment funds (ELTIFs)
- ESMA publishes the annual peer review of EU CCP supervision
- ESMA consults on transparency requirements for derivatives under MiFIR Review
- ESMA consults on simplified insider list formats under the Listing Act
- Preparing for the Consolidated Tape Provider for bonds – ESMA clarifies some aspects
- Ongoing ESMA Consultations
- Consultation on the ESEF RTS for sustainability reporting and on the amendments to the EEAP RTS – 31 March 2025 – RESPOND
- Consultation on the revision of the disclosure framework for private securitisation – 31 March 2025 – RESPOND
- Consultation on the Extensions of authorisation conditions and list of documents under EMIR – 7 April 2025 – RESPOND
- Consultation on the Validations of changes to models and parameters conditions and list of… – 7 April 2025 – RESPOND
ECMI
- ECMI: Towards a European digital services tax: renewing the momentum for a fair contribution
EU PARLIAMENT REGISTER
- Draft agenda – Tuesday, 8 April 2025 – PE772.058v01-00 – Committee on Economic and Monetary Affairs , Committee on the Environment, Climate and Food Safety
- Draft agenda – Tuesday, 8 April 2025 – PE772.055v01-00 – Committee on Economic and Monetary Affairs
- Highlights – Public Hearing on the impact of markets in crypto-assets on financial stability – NEW – Committee on Economic and Monetary Affairs
- Highlights – Update on the digital euro – NEW – Committee on Economic and Monetary Affairs
- Highlights – Structured dialogue with Teresa Ribera, EVP EU Competition policy – NEW – Committee on Economic and Monetary Affairs
- Highlights – Exchange of views with Alfred Camilleri, Chair of ESGAB – NEW – Committee on Economic and Monetary Affairs
- Highlights – ECON-ENVI: Exchange of views on Taxonomy – NEW – Committee on Economic and Monetary Affairs
- Highlights – CONT-ECON: Presentation of ECA Special Report 09/2025 – NEW – Committee on Economic and Monetary Affairs
- Hearings – Public Hearing on the impact of markets in crypto-assets on financial stability – NEW – 08-04-2025 – Committee on Economic and Monetary Affairs
- Question to the ECB – Is the lack of citizen interest in the digital euro driven by reputational problems of the ECB? – PE772.004v01-00
- Question to the ECB – Disaggregazione per Paese dei dati sui programmi PAA e PEPP – PE770.240v01-00
- DRAFT RECOMMENDATION FOR SECOND READING on the Council position at first reading with a view to the adoption of a regulation of the European Parliament and of the Council on European Union labour market statistics on businesses, repealing Council Regulation (EC) No 530/1999 and Regulations (EC) No 450/2003 and (EC) No 453/2008 of the European Parliament and of the Council – PE772.016v01-00
- DRAFT RECOMMENDATION FOR SECOND READING on the Council position at first reading with a view to the adoption of a regulation of the European Parliament and of the Council amending Regulation (EU) 2016/1011 as regards the scope of the rules for benchmarks, the use in the Union of benchmarks provided by an administrator located in a third country, and certain reporting requirements – PE772.074v01-00
- Newsletters – 2025 – Committee on Economic and Monetary Affairs
- Minutes – Thursday, 27 March 2025 – PE772.009v01-00 – Committee on Economic and Monetary Affairs
EU COUNCIL REGISTER
- PE 6 2025 INIT DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directives (EU) 2022/2464 and (EU) 2024/1760 as regards the dates from which Member States are to apply certain corporate sustainability reporting and due diligence requirements
- ST 6753 2025 INIT COUNCIL RECOMMENDATION on the economic policy of the euro area Adoption
- ST 6754 2025 INIT COUNCIL RECOMMENDATION on the economic policy of the euro area
- WK 3365 2025 INIT Presidency Discussion Note on fraud prevention measures
- CM 2298 2025 INIT Consultation of the European Economic and Social Committee by the Council Consultation of the European Central Bank by the Council on a proposal for a Regulation of the European Parliament and of the Council amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions as regards requirements for securities financing transactions under the net stable funding ratio [ref. 2025/0077 (COD) – COM (2025) 146 final – 7663/25 + REV 1]
- ST 7663 2025 ADD 1 REV 1 COMMISSION STAFF WORKING DOCUMENT Accompanying the document Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions as regards requirements for securities financing transactions under the net stable funding ratio
- ST 7663 2025 REV 1 Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions as regards requirements for securities financing transactions under the net stable funding ratio
- CM 2292 2025 INIT Financial Counsellors Working Party Meeting
- CM 2292 2025 REV 1 Financial Counsellors Working Party Meeting
- ST 7670 2025 INIT COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE EUROPEAN COUNCIL, THE COUNCIL, THE EUROPEAN CENTRAL BANK, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS Savings and Investments Union A Strategy to Foster Citizens’ Wealth and Economic Competitiveness in the EU
- ST 7689 2025 INIT OPINION OF THE EUROPEAN CENTRAL BANK of 31 March 2025 on a proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 909/2014 as regards a shorter settlement cycle in the Union (CON/2025/7)
- ST 7640 2025 INIT Follow-up on the Compliance report on Recommendation A of Recommendation of the ESRB of 1 December 2022 on vulnerabilities in the commercial real estate sector in the European Economic Area (ESRB/2022/9), and Recommendation F of Recommendation of the ESRB of 31 October 2016 on closing real estate data gaps (ESRB/2016/14)
- ST 7663 2025 ADD 1 COMMISSION STAFF WORKING DOCUMENT Accompanying the document Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions as regards requirements for securities financing transactions under the net stable funding ratio
- ST 7552 2025 INIT – Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directives (EU) 2022/2464 and (EU) 2024/1760 as regards the dates from which Member States are to apply certain corporate sustainability reporting and due diligence requirements – Outcome of the European Parliament’s first reading (Strasbourg, 31 March to 3 April 2025)
- PE 6 2025 INIT – DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Directives (EU) 2022/2464 and (EU) 2024/1760 as regards the dates from which Member States are to apply certain corporate sustainability reporting and due diligence requirements
- ST 6753 2025 INIT – COUNCIL RECOMMENDATION on the economic policy of the euro area Adoption
- ST 6754 2025 INIT – COUNCIL RECOMMENDATION on the economic policy of the euro area
- CM 2322 2025 INIT – Working Party on Civil Law Matters (Insolvency)
- ST 7734 2025 INIT – EU’s adherence to OECD Council Recommendations in the area of Competition Policy – OECD Recommendation of 11 December 2019 on Competition Assessment
- ST 7738 2025 INIT – EU’s adherence to OECD Council Recommendations in the area of Competition Policy – OECD Recommendation of 31 May 2021 on Competitive Neutrality
- ST 7740 2025 INIT – EU’s adherence to OECD Council Recommendations in the area of Competition Policy – OECD Recommendation of 6 October 2021 on Transparency and Procedural Fairness in Competition Law Enforcement
- CM 2170 2025 INIT – Working Party on Competitiveness and Growth (Industry)
EU COMMISSION REGISTER
- COMMUNICATION TO THE COMMISSION COMMUNICATION FROM COMMISSIONER DOMBROVSKIS TO THE COMMISSION IN AGREEMENT WITH EXECUTIVE VICE-PRESIDENT FITTO on the positive preliminary assessment of the fourth payment request of the French Republic pursuant to Regulation (EU) 2021/241
- COMMUNICATION TO THE COMMISSION COMMUNICATION FROM COMMISSIONER DOMBROVSKIS TO THE COMMISSION IN AGREEMENT WITH EXECUTIVE VICE-PRESIDENT FITTO on the partially positive preliminary assessment of the fifth payment request of Slovakia pursuant to Regulation (EU) 2021/241
- Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions as regards requirements for securities financing transactions under the net stable funding ratio
- COMMISSION STAFF WORKING DOCUMENT Accompanying the document Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions as regards requirements for securities financing transactions under the net stable funding ratio
BANK FOR INTERNATIONAL SETTLEMENTS
- BIS: Fulfilling central bank mandates in times of high uncertainty
- Further BIS publications
- 2025 Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets
- Regulatory Consistency Assessment Programme (RCAP): Assessment of Basel Committee’s large exposures framework – Türkiye
- Regulatory Consistency Assessment Programme (RCAP): Assessment of Basel Committee’s Net Stable Funding Ratio standard – Türkiye
- Global or regional safe assets: Evidence from bond substitution patterns
- Fabio Panetta: Overview of economic and financial developments in Italy
- François Villeroy de Galhau: 10 years of the Observatory for Banking Inclusion – an example of collective efficiency
- Ahmet Ismaili: Navigating the digital transformation of the financial sector
- Mind the climate-related protection gap – reinsurance pricing and underwriting considerations
- Concentration in Mortgage Markets: GSE Exposure and Risk-Taking in Uncertain Times
- Last Resort Insurance: Wildfires and the Regulation of a Crashing Market
IMF
- U.S. Tariffs: Statement by IMF Managing Director Kristalina Georgieva
- Coming Soon: 2025 IMF Spring Meetings Curtain Raiser
- IMF Executive Board Concludes 2024 Financial System Stability Assessment with the People’s Republic of China
- Further IMF publications
- Building Resilience in an Era of High Uncertainty
- IMF Executive Board Approves New Two-Year US$4.5 Billion Flexible Credit Line Arrangement for Morocco
- Kyrgyz Republic: Staff Concluding Statement of the 2025 Article IV Consultation Mission
- Ireland: Staff Concluding Statement of the 2025 Article IV Mission
- IMF Staff Concludes Visit to the Central African Republic
- Korea’s Rapid Aging Doesn’t Have to Be Economic Destiny
- IMF Executive Board Concludes 2025 Article IV Consultation with Sweden
- Seven Success Mantras for Public Financial Management Reforms
GERMANY
- Publications by Deutsche Bundesbank
- Revisions in concurrent seasonal adjustments of daily and weekly economic time series | Discussion paper 08/2025: Karsten Webel
- German general government debt up in 2024 by €57 billion to €2.7 trillion, debt ratio down from 62.9% to 62.5%
ITALY
- Publications by Banca d’Italia
- Giuseppe Siani speaks at the meeting of the General Council of Associazione Italiana Banche Estere (AIBE)
- Paolo Angelini speaks at the conference on ‘Sustainability in the financial industry: old models for new scenarios?’
- Speech by Giuseppe Siani on ‘Technological innovation, operational resilience and supervisory activities’
- Macroeconomic projections for the Italian economy – April 2025 [pdf, 376.2 KB]
- Banca d’Italia’s Ordinary Meeting of Shareholders, 31 March 2025. Governor’s Address
SPAIN
- Publications by Banco de España
- Economic Bulletin. 2025/Q2 Article 02. The pass-through of policy interest rate movements to bank interest rates in Latin America
- Institutional Report. Informe Institucional 2024
- Annual Accounts. Annual Accounts of the Banco de España 2024
- Working Papers. Monetary policy, bank leverage and systemic risk-taking
- Working Papers. The Transmission of Macroprudential Policy in the Tails: Evidence from a Narrative Approach
- Working Papers. Index fund flows and fund distribution channels
UNITED STATES
- Speech by U.S. Fed Chair Powell on U.S. economic outlook and rising uncertainty
- The Economic Outlook and Path of Policy – U.S. Federal Reserve Board Governor Lisa D. Cook
- Further publications by the U.S. Federal Reserve
- Jefferson, U.S. Economic Outlook and Central Bank Communications
- Kugler, Inflation Expectations and Monetary Policymaking
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