External Communication:
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Support for Fed Chair Powell: On 13 Jan, the ECB expressed solidarity with Federal Reserve Chair Jerome H. Powell and stressed central bank independence.
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Climate and Nature Plan 2024–2025: On 16 Jan, the ECB outlined continued integration of climate and nature risks into its work, focusing on green transition, climate impact resilience, and ecosystem risk mitigation.
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Collaboration for Digital Euro Accessibility: On 18 Feb, the ECB partnered with the ONCE Foundation to make the digital euro app accessible for all, including people with disabilities and older adults.
Market Operations:
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Excess Reserves Remuneration: December 2025 decision to simplify remuneration of excess reserves, effective mid-2026.
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Amendments to Legal Acts: In Jan, the ECB updated legal acts implementing Eurosystem monetary policy, including the use of DLT-based assets as collateral from 30 Mar 2026.
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Collateral Framework Updates: No changes to non-regulated markets; added Finnfund as an eligible agency.
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Enhanced ECB Repo Facility (EUREP): Introduced standing access, broader geographic reach, and flexibility for non-euro area central banks.
Macroprudential Policy & Financial Stability:
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Reports on Financial Risks: Noted reports on geoeconomic fragmentation (20 Jan) and bank/non-bank linkages (6 Feb) affecting financial stability in the euro area.
Market Infrastructure & Payments:
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CCP Credit Facility & Board Updates: Approved eligible CCPs (Dec 2025) and amended Market Infrastructure Board rules; initiated new membership term (1 Jun 2026–31 May 2029).
Advice on Legislation:
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Issued opinions on banking taxes, supervisory independence (Latvijas Banka, Banque nationale de Belgique), cash payment limits, required reserve ratios (Magyar Nemzeti Bank), and macroprudential measures (Sveriges Riksbank).
Corporate Governance & Staff:
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Recommendation on Banka Slovenije auditors; amended ECB staff employment conditions to improve data protection, clarify incapacity allowance, and strengthen disciplinary procedures.
Annual Accounts:
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Approved audited 2025 financial statements on 25 Feb 2026.
Appointments:
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Adopted opinion on ECB Vice-President appointment; appointed Christophe Kamps as Acting Secretary for Monetary Policy from 1 Mar 2026 until a new Director General is appointed.
Statistics:
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Approved 2024 report on statistical confidentiality protection in the ESCB.
International & European Cooperation:
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Identified priorities for European structural policies: savings/investments union, digital euro, deepening Single Market, fostering innovation, simplifying legislation.
Banking Supervision:
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Delegated power on mergers/divisions of material holdings (13 Feb).
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Imposed penalties on Crédit Agricole (€7.55m) and J.P. Morgan (€12.18m) for non-compliance and misreporting of risk-weighted assets.
