General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
April 09, 2018

ECB published its annual report for 2017. The report covers the economic and financial developments, in addition to supervisory activities of ECB in 2017. It also presents activities of the Eurosystem in its various areas of competence. The ECB Vice President Vítor Constâncio presented this annual report to the ECON Committee in Brussels. In his remarks, he discussed the impact of the ECB decisions on the euro area economy in 2017 and stressed the crucial role of the financial sector for effective transmission of the monetary policy and the conditions under which it can support growth. ECB also published the feedback on the input provided by the European Parliament, as part of its resolution on the ECB Annual Report for 2016.

The annual report highlights the substantial analytical and policy contributions of ECB to a number of regulatory initiatives at the international and European levels in 2017. Based on the report, the key contributions of ECB included the following:

  • Finalization of the Basel III. ECB was actively engaged in the policy discussions on the finalization of Basel III and fully participated in the impact analyses. Looking ahead, it will be essential to implement the finalized Basel III package across all jurisdictions and monitor progress carefully. To this end, ECB deems it important to maintain the high level of international cooperation that has characterized the post-crisis work, as globally agreed standards are key to ensuring financial stability.
  • Revision of the micro- and macro-prudential regulation for banks in EU. On November 23, 2016, EC proposed a comprehensive package of banking regulation reforms. These global standards include bank capital adequacy and liquidity requirements developed by BCBS, such as the net stable funding ratio, the leverage ratio, and the fundamental review of the trading book. Furthermore, the proposal introduces additional changes to the supervisory framework on a number of issues, including the powers available to supervisors (the Pillar 2 framework), provisions on capital waivers and intermediate parent undertakings (IPUs), national options and discretions, proportionality, and the treatment of third-country groups.
  • Revision of the crisis management and resolution framework. EC proposal on banking regulation reforms included several revisions to the EU recovery and resolution framework; it addressed key issues by amending the minimum requirement for own funds and eligible liabilities (MREL) and implementing the total loss-absorbing capacity (TLAC) standard for global systemically important banks; introducing two new harmonized moratorium powers for the competent authority and the resolution authority; and increasing the harmonization of the creditor hierarchy by introducing a new “non-preferred” senior debt class. ECB Opinions on various aspects of EC proposals were published in March and November 2017.
  • Work on the completion of the banking union. ECB contributed to the continued discussions on completing the banking union. ECB is participating in the discussions on the proposed risk-reduction measures and issued Opinions on the subject. It is also important for ECB that a common backstop to the Single Resolution Fund be established as soon as possible; to this end, ECB is providing technical support to the quantitative work being undertaken to estimate the banking sector’s capacity to repay such a backstop. Finally, ECB took actions to help address the issue of non-performing loans in the form of the publication of guidance for banks and the call for the preparation of a blueprint for an asset management company, to be implemented at the national level.
  • Creation of a regulatory framework for non-bank activities. At the global level, ECB contributed to the work undertaken under the aegis of the Committee on the Global Financial System of the BIS on the functioning of the repurchase agreement (repo) market by providing an in-depth analysis of the impact of regulatory reforms on repo markets. ECB also actively supported the work of FSB and IOSCO to address the structural vulnerabilities arising from asset management activities. ECB supports the work aimed at ensuring that the prudential regime correctly captures all of the risks relevant to prudential supervision, as well as any systemic risks posed by investment firms.
  • Review of the European System of Financial Supervision. ECB contributed to the review of the European System of Financial Supervision (ESFS) and published its Opinion on the review of the ESRB Regulation on March 02, 2018.


Related Links

Keywords: Europe, EU, Banking, Annual Report, Supervisory Activities, ECB

Related Insights

BCBS Finds Liquidity Risk Management Principles Remain Fit for Purpose

BCBS completed a review of its 2008 Principles for sound liquidity risk management and supervision. The review confirmed that the principles remain fit for purpose.

January 17, 2019 WebPage Regulatory News

HKMA Urges Local Banks to Start Working on FRTB Implementation

HKMA announced that it plans to issue a consultation paper on the new market risk standard in the second quarter of 2019.

January 17, 2019 WebPage Regulatory News

EBA Finalizes Guidelines for High-Risk Exposures Under CRR

EBA published the final guidelines on the specification of types of exposures to be associated with high risk under the Capital Requirements Regulation (CRR). The guidelines are intended to facilitate a higher degree of comparability in terms of the current practices in identifying high-risk exposures.

January 17, 2019 WebPage Regulatory News

MAS Guidelines on Risk Mitigation Requirements for OTC Derivatives

MAS published guidelines on risk mitigation requirements for non-centrally cleared over-the-counter (OTC) derivatives contracts.

January 17, 2019 WebPage Regulatory News

BoE Publishes the Schedule for Statistical Reporting for 2019

BoE published the updated schedule for statistical reporting for 2019. The reporting institutions use the online statistical data application (OSCA) to submit statistical data to BoE.

January 16, 2019 WebPage Regulatory News

PRA Delays Final Direction on Reporting of Private Securitizations

PRA and FCA have delayed the issuance of final direction, including the final template, on reporting of private securitizations, from January 15, 2019 to the end of January 2019.

January 15, 2019 WebPage Regulatory News

SNB Updates Forms on Supervisory Reporting for Banks

SNB published Version 1.7 of reporting forms (AUR_U, AUR_UEA, AUR_UES, AURH_U, AUR_K, AUR_KEA, and AURH_K) and the related documentation for supervisory reporting on an individual and consolidated basis.

January 15, 2019 WebPage Regulatory News

BCBS Finalizes Market Risk Capital Framework and Work Program for 2019

BCBS published the final framework for market risk capital requirements and its work program for 2019. Also published was an explanatory note to provide a non-technical description of the overall market risk framework, the changes that have been incorporated into in this version of the framework and impact of the framework.

January 14, 2019 WebPage Regulatory News

EBA Single Rulebook Q&A: First Update for January 2019

EBA published answers to 13 questions under the Single Rulebook question and answer (Q&A) updates for this week.

January 11, 2019 WebPage Regulatory News

PRA Proposes to Amend Supervisory Statement on Credit Risk Mitigation

PRA published the consultation paper CP1/19 that is proposing changes to the supervisory statement (SS17/13) on credit risk mitigation.

January 10, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2473