Interview with Danièle Nouy, Chair of the Supervisory Board of the European Central Bank (ECB)
Interview with Danièle Nouy, Chair of the Supervisory Board of the European Central Bank (ECB), conducted by Omiros Emmanouilidis and published on 13 February 2016
1. Has ECB Banking Supervision succeeded in supervising the euro area banking sector?
Not only did we manage to launch European banking supervision and conduct a comprehensive assessment of the institutions that we would supervise within a very limited time frame, but since assuming supervision in November 2014, we have dealt with some considerable challenges on the road towards establishing a level playing field across the euro area banking sector. We have applied a common Supervisory Review and Evaluation Process, the SREP, which has resulted in additional capital requirements under the common methodology, thus improving bank capitalisation. And we have also largely addressed the issue of options and national discretions (ONDs) that are an impediment to consistent supervision: of the 167 such ONDs, we have managed to fix 122. The others are in the hands of legislators, not us. As supervisors we are pushing legislators to make sure that the number of ONDs is reduced even further.
2. What must be done to enhance further the role and effectiveness of ECB Banking Supervision?
Our goal is to continue improving the very good cooperation that we have between ECB Banking Supervision staff and the staff of the national supervisory authorities who work together in the Joint Supervisory Teams (JSTs). The JSTs are the cornerstone of our banking supervision. We have around 1,000 people working in Frankfurt am Main and around 2,000 others in the national authorities, such as the Bank of Greece. And let me say that I am very proud of the excellent cooperation we have had with our Greek colleagues. They have indeed performed a colossal task over the last two years. Apart from that, the key to the future effectiveness of ECB Banking Supervision will be the harmonisation of the supervisory framework and regulation.
3. What are your priorities now?
There are two difficulties facing banks: non-performing exposures (NPEs), which are quite high in a number of European countries, and the risk to profitability because of the low interest rates. Our top supervisory priority for 2016 is therefore to make sure that banks review their business models to ensure that they are fully sustainable.
4. How can a well supervised banking system contribute to growth? Aren’t the high capital requirements impeding growth?
High capital requirements do not impede growth. Only well capitalised banks are able to finance the economy throughout the business cycle. Poorly capitalised banks are exuberant during bubbles, during happy times, but refrain from lending to the economy when there is a crisis, so they aggravate the situation.
5. In 2015 the Greek banks were recapitalised in line with the findings of the comprehensive assessment conducted by the ECB. Will they be excluded from this year’s stress test exercise?
Yes, they will be excluded this time around because they already went through a stress test in 2015. And that test was in fact a comprehensive assessment that also comprised an asset quality review. So it was actually even more rigorous than a pure stress test.
6. But would you say that banks need to undergo another comprehensive assessment because of the current situation?
No, I wouldn’t say that. The comprehensive assessment we conducted in 2015 was rigorous and the assumptions of the adverse scenario were appropriately conservative and adequate for the current situation.
7. Will more funds be required for the implementation of the banks’ restructuring plans? Is a bail-in off the table for good?
The capital plans have been fulfilled so there is no need for additional capital requirements. We are in good shape in that respect and, thus, there is no reason to believe there is a need for a bail-in, as there is no need for a recapitalisation. However, the best guarantee against another recapitalisation is for growth to recover based on the implementation of the programme and for banks to tackle the NPE issue decisively.
8. What must be done to repair the loan portfolios of the Greek banks?Should the NPEs be dealt with on the banks’ balance sheets or be sold to funds?
Given the magnitude of the problem, all available tools should be considered. Part of NPEs can be expected to be dealt with on banks’ balance sheets. Others might be addressed by selling them. All possibilities should be examined as we have a wide variety of situations, such as loans to small and large companies, or loans to individuals. Different cases may require different approaches and this situation will take time to correct. So, as with every long journey, it is better to get started early!
9. Will ECB Banking Supervision play a role in the legal and regulatory framework regarding the management of loans?
The legal and judicial framework must indeed be adapted so that banks can do their job, which is to fund the economy, and help growth to resume. But we are not the legislators and there are aspects of the NPEs that go beyond banking supervision.
10. The evaluation of the boards of directors of the Greek banks is pending. What criteria will apply?
The assessment of the adequacy of board members and of the balance of board composition is carried out by supervisors through CRD IV and fit and proper rules, which are transposed into Greek legislation. Part of the Greek national legislation is the new Hellenic Financial Stability Fund law, which provides criteria for the assessment of board members.
11. How will the banks be able to get access to more liquidity in order to reduce their dependence on ELA? When will the waiver be reinstated?
I am not able to comment on the waiver as this is not in the remit of banking supervision. Regarding ELA, banks have already managed to slightly reduce their reliance on it. Nevertheless, it is still a large and costly source of funding for them, which can be reduced by attracting deposits and increasing banks’ access to market funding. In this regard, confidence must be restored. Implementation of the agreed reforms is therefore essential. For our part, we are committed to ensuring good supervision of the Greek banks in order to help rebuild confidence in them. This is what I can promise.
Adauga un comentariu
Adauga un comentariu folosind contul de Facebook
Alte stiri din categoria: Noutati BCE
Mario Draghi, President of the ECB,
Vítor Constâncio, Vice-President of the ECB,
Frankfurt am Main, 14 December 2017 INTRODUCTORY STATEMENT Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press detalii
Sustaining openness in a dynamic global economy Speech by Mario Draghi, President of the ECB, at the Economic Policy Symposium of the Federal Reserve Bank of Kansas City, Jackson Hole, 25 August 2017 The global recovery is firming up. In some countries detalii
Decizii de politică monetară (comunicat de presa al BCE) În ședința de astăzi, Consiliul guvernatorilor BCE a hotărât ca rata dobânzii la operațiunile principale de refinanțare și ratele dobânzilor la facilitatea de creditare marginală detalii
Mario Draghi, President of the ECB, Vítor Constâncio, Vice-President of the ECB, Frankfurt am Main, 9 March 2017 Introductory statement to the press conference (with Q&A): Ladies and gentlemen, the Vice-President and I are very pleased to detalii
Denisa Mateescu, General Manager pentru Romania si Regiunea Balcanilor
Declaratii in comunicatele ... vezi profil
- Topul bancilor dupa active in 2017
- Topul bancilor cu cele mai mici comisioane la contul curent cu card si online banking
- Topul bancilor dupa active in 2016
- Topul bancilor dupa active in 2015
- Topul bancilor dupa active in 2014
- ROBOR-ul reactioneaza la restrictiile de creditare ale BNR
- Roborul profita de Isarescu
- ROBOR la 6 luni - evolutie istorica
- BNR propune Parlamentului plafonarea dobanzilor la creditele bancilor intre 1,5 si 4 ori peste DAE medie, in functie de tipul creditului; in cazul IFN-urilor, plafonarea dobanzilor nu se justifica
- Legile privind plafonarea dobanzilor la credite si a datoriilor preluate de firmele de recuperare se discuta in Parlament (actualizat)
- Legea privind plafonarea dobanzilor la credite nu a fost inclusa pe ordinea de zi a comisiilor din Camera Deputatilor
- Senatorul Zamfir, despre plafonarea dobanzilor la credite: numai bou-i consecvent!
- Parlamentul dezbate marti legile de plafonare a dobanzilor la credite si a datoriilor cesionate de banci firmelor de recuperare (actualizat)
- Creditele noi acordate de banci au crescut in februarie, dupa cinci luni consecutive de scadere
- Numarul restantierilor din Biroul de Credit urca la cel mai ridicat nivel din ultimele sase luni
- Cate credite noi in euro au acordat bancile in 2017
- Statisticile creditelor acordate de banci populatiei (decembrie 2017)
- Statisticile creditelor acordate de banci firmelor (decembrie 2017)
- Ordonanta de Guvern nr. 21/1992 privind protectia consumatorilor (versiune actualizata)
- Regulament BNR privind institutiile emitente de moneda electronica
- Ordonanta de Urgenta (OUG) nr. 50 din 2010 privind contractele de credit pentru consumatori, actualizata
- Noul Cod Civil
- Legea 677 din 2001 privind protectia datelor personale
- Economistii Bancii Transilvania estimeaza decelerarea PIB-ului de la 7% in 2017 la 4,2% in 2018
- Cresterea economica este nesustenabila, avertizeaza economistii Bancii Transilvania
- Estimarile economice din Romania sunt modeste, in pofida conditiilor financiare bune (studiu GfK)
- National Bank of Romania could leave unchanged the key rate in 2017
- Poland: EU funds - key factor for growth next year
- Alpha Bank isi inchide sucursalele si aplicatia de online banking la ora 14 si le deschide abia luni, la 8
- OTP Bank isi anunta clientii ca trebuie sa-si actualizeze datele personale pana in 5 decembrie, altfel banca le va bloca conturile si cardurile
- Banca Transilvania inventeaza POS-uri in forma de cutii de donatii
- Programul agentiilor Raiffeisen Bank in perioada Sarbatorilor de Pasti
- CEC Bank isi informeaza clientii ca serviciile de internet banking si mobile banking nu vor functiona de vineri seara pana duminica seara
- Intrebari frecvente despre Biroul de Credit
- Lista bancilor si IFN-urilor care-si raporteaza clientii la Biroul de Credit
- Cum pot fi sters din Biroul de Credit?
- Termenul de depunere a declaratiei unice a fost prelungit pana la 31 iulie
- Romanii au cumparat titluri de stat Centenar in valoare de 786 milioane lei
- Populatia poate cumpara titluri de stat cu dobanda de 5%, de la Trezorerii sau Posta
- Titlurile de stat pentru populatie prin Programul Tezaur se vor distribui si prin Posta Romana
- Ministerul Finantelor amana cu trei luni sanctiunile pentru nedotarea magazinelor cu aparate de marcat electronice
- Clauza abuziva intr-un contract de credit al BRD
- BRD a fost obligata de judecatori sa explice cum au avut loc fraudele din 2008-2011
- BRD contesta in justitie o decizie a ANAF
- Curtea Constitutionala respinge contestatiile Credit Europe Bank la legea darii in plata
- Procesul dintre Lucian Isar si Banca Comerciala Feroviara
- Enel vrea sa-si treaca clientii pe piata libera
- Oamenii reclama ca nu pot cumpara titluri de stat Centenar la Posta prin transfer bancar sau card, ci doar cu numerar
- Vodafone si Orange, amendate de ANCOM pentru ca si-au suprataxat clientii pentru convorbirile roaming in strainatate
- Ministerul Finantelor anunta ca introduce Declaratia Unica pentru persoanele fizice care realizeaza venituri din activitati economice sau alte categorii de venituri
- Ministerul Finantelor a imprumutat 2 miliarde euro de pe pietele internationale
- Numarul fimelor active din Romania, conform statisticilor Registrului Comertului
- Evolutia istorica a cresterii anuale a Produsului Intern Brut (PIB), conform datelor Institutului National de Statistica (INS)
- Evolutia istorica a valorii Produsului Intern Brut (PIB), conform datelor Institutului National de Statistica (INS)
- Transferurile de bani ale romanilor din strainatate au ajuns la 2,1 miliarde euro anul trecut, conform statisticilor Eurostat
- Salariul mediu net si brut lunar pe economie - evolutie istorica intre in anii 1991 - 2016, conform datelor Institutului de Statistica (INS)
- ECB: Insights into the digital transformation of the retail payments ecosystem
- ECB introductory statement on Governing Council decisions
- Speech by Mario Draghi, President of the ECB: Sustaining openness in a dynamic global economy
- Deciziile de politica monetara ale BCE
- Mario Draghi, President of the ECB: Introductory statement to the press conference (with Q&A)
- EBA launches 2018 EU-wide transparency exercise
- EBA issues first binding mediation decision between the SRB and the NBR
- Asset repricing, cyber-attacks and Brexit are key risks for EU financial markets, shows ESA report
- EBA publishes its Roadmap on FinTech
- EBA launches 2018 EU-wide stress test exercise
- Peste 80% din depozitele bancare sunt garantate
- Depozitele bancare nu intra in campania electorala
- FGDB explica modul de aplicare a procedurii de recapitalizare interna a unei banci cu depozitele negarantate ale clientilor (bail-in)
- Valoarea depozitelor garantate de FGDB a crescut cu 50 miliarde lei in ultimul an, la 221 miliarde lei in total
- FGDB aminteste ca toate conturile si depozitele din bancile romanesti sunt garantate in limita a 100.000 de euro
- IMF statement of the 2018 Article IV Mission to Romania
- Jaewoo Lee, new IMF mission chief for Romania and Bulgaria
- IMF concludes article IV consultation with Romania
- IMF statement on the stability of the banking system in Ukraine
- Global House Prices: Time to Worry Again?
- BERD dezvaluie cat a platit pe actiunile Piraeus Bank
- ING Bank si BERD finanteaza parcul logistic CTPark Bucharest
- EBRD hails Moldova banking breakthrough
- Banca Transilvania and EBRD become majority shareholders of Victoriabank in Moldova
- BERD devine actionar Agricover Holding
- Federal Reserve urca dobanda la 2,25%
- Federal Reserve decided to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent
- Federal Reserve majoreaza dobanda de referinta pentru dolar la 1,5% - 1,75%
- Federal Reserve issues FOMC statement
- A Challenging Decade and a Question for the Future (speech by Janet Yellen, The Fed chair)
- Romania implements SME Initiative: EUR 580 m for Romanian businesses
- European Investment Bank (EIB) is lending EUR 20 million to Agricover Credit IFN
- Cardul de masa BT poate fi inregistrat in BT Pay, pentru platile cu telefonul
- BCR a lansat noua platforma de online banking, George
- BBVA ofera open banking
- Horum Bank, banca poloneza bazata pe tehnologia blockchain
- Nicio zi la ING fara o problema la Home Bank
- Obligatiunile Bancii Transilvania se tranzactioneaza la Bursa de Valori Bucuresti
- Obligatiunile Good Pople SA (FRU21) au debutat pe piata AeRO
- BVB avertizeaza doua firme ca nu si-au respectat obligatiile de raportare
- Raiffeisen Centrobank (RCB) a lansat produse de investitii tip warrant la BVB
- BVB a initiat procesul de fuziune cu Sibex
- Infringements: Commission refers Greece, Ireland and Romania to the Court of Justice for not implementing anti-money laundering rules
- Council of the European Union statement on Bulgaria path towards ERM II participation
- Romania, pe ultimul loc in Europa la digitalizare
- Platile in euro vor avea aceleasi comisioane ca cele in lei, a decis Comisia Europeana
- Comisia Europeana prezinta un plan de actiune pentru tehnologiile financiare (FinTech)
Libra pare avantajoasa
Eu din ce vad Libra ar parea cea mai avantajoasa (daca nu retragi bani din ... detalii
SOLDUL DE PE CARD
Card de ... detalii
vreau sa fiu sters din birouri de credite cat de repede daca se ... detalii
Am nevoe de bani va rog sa ma ajutati
Ce sanse are un self employed in uk la un credit ipotecar in ... detalii