Hearing at the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Frank Elderson, Member of the Executive Board of the ECB, at the ECON Committee of the European Parliament
Brussels, 25 January 2021
Ladies and gentlemen,
Introduction
It is a great honour for me to appear again before your Committee, this time in order for you to assess my suitability for the role of Vice-Chair of the Supervisory Board of the ECB.
The European Parliament’s role in this process reflects the highest principles of democracy and accountability. Interactions such as this are of great value to European citizens, given the expertise in supervisory topics acquired by this Committee since the establishment of ECB Banking Supervision.
By Susanna Rust2020-12-16T16:16:00+00:00
The US central bank has joined the Network for Greening the Financial Sector (NGFS) along with seven other organisations, a development that the group said “firmly cements the NGFS’s commitment to collective action on a truly global level”.
The NGFS today also published analysis of responsible investment practices in central banks’ portfolio management – including pension portfolios – and of a survey on monetary policy operations and climate change.
The Federal Reserve’s joining the NGFS, which has been expected, comes after a pledge from US president elect Joe Biden to rejoin the Paris Agreement. The Federal Reserve board began participating in NGFS discussions and activities more than a year ago.