European banks still exposed to US dollar funding risks, ESRB warns


The European Systemic Risk Board (ESRB) on January 17 called on member states to issue a mandate to reduce funding and liquidity risks European banks have in US dollars.

The ESRB said national supervisory authorities need to monitor maturity mismatches between assets and liabilities denominated in US dollars, and ensure banks have sustainable contingency plans for funding in US dollars. It said measures need to be taken to prevent an over-dependence of European banks on US wholesale funding

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