Welcome address at the fifth ECB Forum on Banking Supervision
· Christine Lagarde, President of the European Central Bank (Euro area (EU))
Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, banking regulation and supervision, climate, energy and nature
CL · Christine Lagarde Wiki · European Central Bank WikiWelcome address at the fifth ECB Forum on Banking SupervisionContextWelcome address by Christine Lagarde at the fifth ECB Forum on Banking Supervision in Frankfurt.
Why it mattersLagarde urges banks to manage rate and climate risks and calls for common deposit insurance.
Problems raised- Banks still do not fully integrate climate and environmental risks.
- Rising interest rates change banks' funding and rate risks.
- The banking union is not yet complete.
Solutions proposed- Build on ten years of the Single Supervisory Mechanism.
- Push banks to improve interest rate risk and funding management.
- Complete the banking union, including a common deposit insurance.
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