The European System of Central Banks (ESCB) has reaffirmed its commitment to the FX Global Code, which promotes integrity, fairness, transparency, and effective functioning in the global foreign exchange market.

As of 26 September 2025, the Eurosystem’s total assets amounted to €6,070.8 billion, up €294 million from the previous week. Key changes included:

At the Bank of Finland’s International Monetary Policy Conference, ECB President Christine Lagarde underscored the growing importance of “geoeconomics” in shaping monetary policy, noting that trade wars and geopolitical tensions now significantly influence economic outcomes. She highlighted that despite unprecedented US tariffs on European exports, the euro area has avoided major supply chain disruptions, partly […]

In a keynote at the Deutsche Bundesbank ahead of the Sibos conference, ECB Executive Board member Piero Cipollone emphasized that central bank money must stay technologically advanced to maintain trust and financial stability. He highlighted that digitalisation and tokenisation are transforming retail, wholesale, and cross-border payments, creating both opportunities and risks.

At the ECB industry dialogue on climate and nature risk management in Frankfurt, Executive Board member Frank Elderson stressed that European banks have made “impressive progress” in integrating climate and nature-related (C&N) risks into their operations, but warned against complacency.

Pedro Machado, Member of the ECB Supervisory Board, delivered a keynote on EU securitisation at the European Financial Institutions Conference in Frankfurt on 30 September 2025. Titled “Securitisation: You Can Never Tranche the Same Portfolio Twice”, his speech outlined the evolution, benefits, risks, and future outlook of EU securitisation markets.

At the Baltic digital euro conference in Tallinn on 29 September 2025, Piero Cipollone, Member of the Executive Board of the European Central Bank (ECB), emphasized the strategic importance of the digital euro for Europe’s economic and financial sovereignty. He described the euro as more than a currency—a symbol of unity, shared destiny, and stability—and […]

In her opening speech at the 10th ECB Annual Research Conference, Christine Lagarde, President of the European Central Bank, stressed that despite constant transformation in the financial system, the nature of risks does not change – old problems reappear in new forms. The conference, co-organised with Stanford’s Hoover Institution, is provocatively titled “The Next Financial […]

At the Conversations pour demain event marking the 25th anniversary of Institut Montaigne, ECB President Christine Lagarde argued that independence in today’s interconnected world depends less on military or regulatory strength alone and more on mastering “system power” – the ability to manage dependencies created by global infrastructures and technologies.