Draghi: Eurozone banks now better able to withstand shocks – Il Sole 24 Ore

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This article was published on February 15, 2016 at 14:27.
the last change is the 15 February 2016 at 16:13.

After a difficult week in the financial markets, he was waiting for the speech by ECB President Mario Draghi, the Committee on economic and monetary Affairs of the European Parliament.

Ready to act in March, if they increase the risks to price stability
For the number one Eurotower “the recovery is continuing at a moderate pace, driven primarily by our measures monetary policy and the impact on the favorable financing conditions and energy prices. Investments remain weak, and the construction sector so far has not recovered. ” Draghi said that the ECB “is ready to do its part, and as announced will examine the scope for action at the beginning of March.” For the number one Eurotower “the slowdown in emerging economies is the uncertainty focal point” of this period.

Bank stocks most sensitive to growth prospects
“From the beginning of December – noted Draghi – a deterioration in economic sentiment has gained speed and over time has become more volatile and susceptible rapid change. In this environment the stock market prices fell and bank stocks were particularly hard hit, both globally and in Europe, reflecting the high sensitivity of the sector to the weaker economic outlook than expected. ”

“The fall in bank stocks – said Dragons – has been amplified by the perception that banks may have to do more to adjust their business models to a low-growth environment and low interest rates, and strengthened the regulatory framework set up since the crisis. ” But for Draghi, “we must recognize that the rules they have laid the foundation for increased resilience throughout the financial sector.”

Do not increase capital requirements for banks
Draghi stated that ‘the central bank governors and heads of supervision have indicated that they are committed to not significantly increase general capital requirements for the banking sector. ” According to Draghi banks “have set up buffers for higher and better quality capital, reduced leverage and improved their funding profiles.” The ECB president also defended the rules of the so-called “bail-in”: “I am a notable change, but for the best, because that taxpayer money will not be used as happened in the crisis.”

No contact with Rome to buy impaired loans
Answering the question of an MEP Draghi said that there appeared contacts between the ECB and the Italian government to buy credits suffering of the Italian banks, “there is no talk about this.”

Currency ECB actions of banknote 500 euro
The ECB president has finally reported that the ECB Governing Council is working on the issue of EUR 500 notes: “C ‘it is a growing belief that they are used for criminal purposes. ” The 500 note “is used increasingly by criminals and it is in this context that we evaluate action, but we will do so with caution.”

On the Sun 24 Ore.com the live video streaming of the Draghi speech .

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