Speeches by François Villeroy de Galhau and Klaas Knot

Objectives The Covid-19 pandemic triggered an exogenous economic crisis, which held back the implementation of the unprecedented overhaul of banking regulatory standards initiated in the wake of the 2008 financial crisis. However, the Group of Central Bank Governors and Heads of Supervision (GHOS) reaffirmed their expectation of a full, timely and consistent implementation of all … Continued

Objectives The number of EU banks that have been involved in significant money laundering cases prompted a particular effort to strengthen the EU AML framework. Consequently, the Commission adopted notably in May 2020 in the context of the reinforcement of the Banking Union, an action plan for a comprehensive policy to prevent money laundering and … Continued

Objectives On 2020, the Commission proposed a Banking Package to facilitate bank lending to households and businesses throughout the EU. The European Commission also announced a “Coronavirus response: Making capital markets work for Europe’s recovery” initiative encompassing a package of measures amending the Securitisation Regulation and the Capital Requirements Regulation. In particular, the Commission proposed … Continued

Objective The payment area in the EU is evolving fast in the context of ever evolving communication and distributed ledger technologies and development of notably BigTechs and social networks. The data invasive economy is further accelerated by AI and cloud computing. These evolutions are accompanied with new types of (cyber) risks. One should in addition … Continued

Objectives The objective of this session is to discuss the major financial risks at the EU level in the wake of the Covid-19 pandemic. The panel will assess the risks posed by the very high levels of public and corporate indebtedness in many Member States, the financial vulnerabilities raised by lasting very low interest rates … Continued