At last year’s conference, we addressed the changing role for central banks, and today and tomorrow we are going to follow up on this theme, so to speak, by taking stock of the progress we have made toward a European banking union.
Central banks have assumed additional responsibilities in supervision, and conferring the role of single banking supervisor in the euro area on the European Central Bank is one of the cornerstones of the system of bank regulations that is commonly referred to as “banking union.” At this year’s conference, we will not only assess the effects the upcoming banking union will have for central banks, but we will also examine the consequences for economic policy, for the banking sector and for the economy at large.