The aggregate of total assets of EU-headquartered credit institutions increased by 3.63%, from €33.13 trillion in March 2025 to €34.33 trillion in March 2026During the same period, EU credit institutions’ aggregate non-performing loans ratio[1] increased by 0.02 percentage points year on year to stand at 1.98% in March 2026EU credit institutions’ aggre...
High energy prices have sparked new interest in energy-related renovations and non-fossil heating systems. This blog post argues that such investments cushion the impact of energy shocks on the building and construction sector.When energy prices skyrocket, that often comes as a heavy blow to the real estate and construction sector. Construction and buildin...
ECB unveils ten shortlisted design proposals for next series of euro banknotesEuropeans invited to have their say in online survey open until 21 SeptemberGoverning Council expected to select one design proposal around the end of the yearThe European Central Bank (ECB) today unveiled the shortlisted design proposals for the next series of euro banknotes and...
The Governing Council today decided to keep the three key ECB interest rates unchanged. The outlook for energy prices, while highly volatile, currently stands close to the baseline of the June Eurosystem staff projections and well above the levels recorded prior to the conflict in the Middle East. Uncertainty remains high and the full inflationary impact o...
Credit standards tightened moderately for firms amid higher perceived risksBusiness loan demand rose slightly, while household loan demand decreasedCredit standards tightened most in sectors such as the car industry and energy-intensive manufacturingAccording to the July 2026 bank lending survey (BLS), euro area banks reported a moderate net tightening of ...
Lecture by Piero Cipollone, Member of the Executive Board of the ECB, at the Annual Meeting of the Federation of Italian Cooperative Credit Banks (Federcasse)Rome, 17 July 2026Long ago, Aristotle himself noted[1] how money played an essential role in society as an instrument that made it possible to establish a relationship between all things and make them...
Global trade tensions have become a significant source of risk for firms with cross-border business. This post looks at corporate loans and survey data on bank lending conditions to examine how banks have adjusted their lending policies in response.Changes in global trade policies and heightened trade tensions pose a challenge for euro area firms, particul...
Pilot to take place at the ECB and several Eurosystem national central banks to test digital euro functionalitiesOver 50 applications received, reflecting strong market interest and engagementSelected participants span a broad range of business models and sizes and offer broad geographical coverageThe European Central Bank (ECB) has selected 36 payment ser...
The ECB is now addressing potential financial losses linked to climate change in its collateral framework. Its new climate factors ensure that firms’ vulnerability to transition shocks are considered when assessing the value of corporate bonds used as collateral in lending to banks.On 15 June 2026 the ECB introduced climate factors into its collateral fra...
Dinner speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Closing Conference of the European System of Central Banks Research Network on Challenges for Monetary Policy Transmission in a Changing World (ChaMP)Rome, 6 July 2026Let me begin by congratulating everyone involved in the ChaMP research network on a remarkably successful res...
